This car has sold at auction for $34.65 million.

This is a Ferrari GTO, and according to Marcel Massini, a leading Ferrari historian, this car is like the Holy Grail of the car-auctioning world.

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Only 36 of this car were made and they rarely come up for sale. It has been over a decade since this type of car has been sold, which may explain why it sold for so much money. Ten years ago, this car was selling for $10 million.

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Another reason the car could have sold for so much is its history. This particular car came second in the 1962 Tour de France, and during the same year, it was involved in a famous car crash during a race in Montlhéry. This crash killed the driver.

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The car was then sold to an Italian called Violati who raced the car in competitions throughout Europe. It was then placed in the famous Ferrari museum in San Marino.

An interesting history, but the question is: how much will the next Ferrari GTO sell for at auction?

Source: CNBC

Vocabulary

  • auction (n)- an event where people propose a price to buy an item, the item is sold to the highest offer
  • leading (adj) (historian)- one of the best (historians)
  • to come up for sale (phrasal verb) – to appear for sale
  • to sell for (phrasal verb) – to sell as a certain price
  • the Holy Grail (n)- you can see what the Holy Grail is here. We use the term Holy Grail in English to refer to something that is difficult to find and very valuable. In this article it is used as a metaphor.