This 1960 Ferrari 250 GT California Spider recently sold at auction for $17,000,000. While this is a substantial amount for a car, it does not hold the record for the most expensive car ever sold. That honour belongs to a 1955 Mercedes-Benz 300 SLR Coupe, which sold for a staggering $144 million in 2022.

This particular Ferrari 250 California Spider was the first example built for the 1960 Geneva Motor Show and was originally priced at $15,000. Adjusted for inflation, that amount equates to approximately $156,000 in 2024.

The California Spider is a variant of the race-spec 250 GTO from the 1950s. A rare 250 GTO holds the title of the second most expensive car ever sold, fetching $70 million in 2018. The ownership history of this specific 250 California Spider is not particularly remarkable, as only 50 Long Wheelbase (LWB) examples were initially built, followed by 56 Short Wheelbase (SWB) editions.

The rarity of the 250 California Spider alone contributes to its value, and being the very first example further enhances its worth. However, it is the engine and drivetrain that significantly boost its overall value, featuring a competition-spec Tipo 168 V12 engine.

The 3.0-liter Tipo 168 V12 race engine is often credited with establishing Ferrari’s reputation. It produced 296 bhp at 7,500 rpm and 217 lb-ft (294 Nm) of torque, which, while modest by today’s supercar standards, is comparable to the performance of a hot hatch.

Although the interior has been re-trimmed over the years, the car retains its original delivery colors and is Ferrari Classiche Red Book-certified, confirming that it retains its original engine, gearbox, and drivetrain.