The world's most valuable car ever sold is a Ferrari... naturally

It's only fitting that the most valuable car ever sold at an auction was born in Maranello.

This 1962 Ferrari 250 GTO was awarded to its new lucky owner for $48,405,000 last weekend at RM Sotheby's prestigious annual auction event held in Monterey, California.

As one of the most beautiful and successful sportscars ever to grace the racing track, the GTO is long considered to be the 'holy grail' of the collector world.

All 36 of the factory's original 250 GTO's are in good hands today, and the rare owners are all acquainted with each other.

Who knows how much the next member will have to fork out to join the very exclusive GTO club?

Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.