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Classic Ferrari built for Stirling Moss sells for record breaking £22.7million at auction

Published: 11:08 EST, 2 June 2012 | Updated: 14:41 EST, 6 June 2012

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A classic Ferrari first built for Sir Stirling Moss has sold for a world record £22.7 million.

The 1962 Ferrari 250 GTO, owned by UK-based businessman Eric Heerema, was sold to a collector in the U.S.

It is one of eight classic Ferraris sold over the past six weeks for a total of £97 million amid high demand in the classic car market.

Chris Evans, the radio presenter, is understood recently to have sold his Series II 250 GTO for about £18 million, making a £6.5 million profit in just two years. He is thought to have sold it to help fund a more expensive Series I.

World's most expensive Ferrari: A classic 1962 Ferrari 250 GTO originally built for Stirling Moss has sold for a world record breaking £22.7million

Former record holder: This Ferrari 250 GTO was previously the most expensive Ferrari ever sold after it fetched £20.2million in February

John Collins, who runs Talacrest, a specialist Ferrari dealer in Ascot, Berkshire, has been involved in five of the eight deals. He refused to identify buyers or sellers but confirmed Ferraris were now extremely valuable investments.

I’ve never seen anything like it. It has gone crazy,' he said. 'If someone wanted to sell their 250 GTO, I could find a buyer in 30 seconds.'

He added: ‘A Chinese customer told me there are three things worth investing in now – diamonds, Warhols and classic Ferraris.’

'You get a lot more from owning a classic car and driving it than worrying at night about whether your money is safe in the bank.

'And there’s also a lot of the kudos with the 250 GTO celebrating its 50th anniversary this year.

Car for a legend: The record breaking 1962 Ferrari 250 GTO was built for British Formula 1 legend Sterling Moss, pictured in action during the support race at the Albert Park race track near Melbourne, Australia

'In the 1980s and 1990s it was different, people were borrowing to buy these cars but now it is all cash.

'Back then I could pick up a phone and buy any Ferrari I wanted. I can’t do it now, everything has changed over the past four years.

'I have sold the Stirling Moss GTO twice before. In the mid-90s it was in my showroom for three months before I sold it for £4 million.

'In that showroom I had around 20 cars worth about £20 million. That was 1996. If I still had those cars they would be worth £200 million. I wish I hadn’t sold them.'

The cars sold over the past eight weeks includes three Ferrari 250 GTOs totalling around £58million alongside two Ferrari 250 California Spyders and a short wheelbase 250 Berlinetta.

The strongest market at the moment is for Ferraris built in the 1950s and 1960s - with the 250 GTO the car investors are clamouring to buy.

Just 39 Ferrari 250 GTOs were made between 1962 and 1964 with Enzo Ferrari selling them for £6,000.

Proud owner: Chris Evans, pictured with John Collins from Talacrest, sold his old Ferrari 250 GTO for £18million

The 250 GTO was fitted with a 3-litre V12 engine developing 300bhp - meaning a 0-60mph time of 6.1 seconds and a top speed of 174mph.

Jon Hunt, who owned the Foxtons estate agency, sold his Ferrari 250 GTO in February for a then world record £20.2 million - only to have that record shattered by the sale of Heerema’s green model.

Other 250 GTO owners include Ralph Lauren and Nick Mason, with the Pink Floyd star often spotted driving around England in his model, which has the plate ‘250 GTO’.

Mr Collins revealed customers are coming from all over the world to get their hands on a piece of Italian art.

The dealer currently has a 1967 Ferrari 330 P4 which Jackie Stewart described as one of his favourite cars to drive. He wants £16.2million for it.

He added: 'I am selling all over the world including the Middle-East and China. If China really opens up it could spell trouble for the market as they will all be shipped over there and never sold on.'