Vintage Ferrari race car sells for record €38m

A 1963 Ferrari 250 GTO racer has become the world’s most expensive car, selling for $52m (€38m).

The red competition car, formerly owned by the Connecticut-based collector Paul Pappalardo, was acquired by an unidentified buyer in a private sale, said three specialist traders who independently confirmed the purchase and price.

Recently, the car has been owned by a Spanish collector, the car website www.barchetta.com said.