Aug. 26 (UPI) -- A 1962 Ferrari race car sold Saturday for $48.4 million -- the highest amount ever paid for a car at auction.
The 1962 Ferrari 250 GTO sold at RM Sotheby's auction at Pebble Beach, Calif., where it opened at a bid of $35 million. Three bidders competed for the car, which easily passed the $38 million -- the previous highest amount paid for a car at auction.