Another Ferrari is expected to break the auction record

Published Nov. 15, 2016 1:55 p.m. ET

Samuel Reiman

This 1962 Ferrari 250 GTO, No. 3387, is set to become most expensive car ever sold, as it will soon be offered at auction at around $56 million.

According to Bloomberg, GTO No. 5111 sold for $52 million in 2013, making it the current record holder.

This GTO was the second of just 39 of its kind to be produced, and the first to be raced.

It has competed in 27 races during its time, earning 17 class podiums, the first of which came in its debut at the 1962 12 Hours of Sebring. There, it placed second overall and first in class in the hands of Phil Hill and Olivier Gendebien. Shortly thereafter, it finished sixth overall at the 24 Hours of Le Mans with Robert Grossman and Fireball Roberts behind the wheel.

The car was repainted red for most of its life, but has since been restored to its original blue and white livery.

Since 1997, the car’s owner had been Bernie Carl of Washington state. However, John Collins will be selling the automobile, and is reported by the Telegraph as calling it the “Holy Grail of classic cars.”

The Ferrari is capable of 0-60 mph in about 6 seconds, and has a top speed of over 170 mph.

Watch the video below to find out more about this Prancing Horse:

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