A vintage 1962 Ferrari 330 LM, once part of Ferrari’s official racing team, made headlines at an RM Sotheby’s auction, establishing a new record for the highest-priced Ferrari ever sold at auction.
The bidding concluded at an impressive $47 million, reaching a final sale price of $51,705,000 after factoring in the buyer’s fee. This surpassed the previous record set in 2018 when a 1962 Ferrari 250 GTO, previously driven by Phil Hill, fetched $48.4 million at another RM Sotheby’s auction.
Originally designed as an evolution of the iconic 250 GTO to adhere to evolving FIA regulations, only four Ferrari 330 LMs were produced, with two featuring bodywork reminiscent of the 250 GTO. The recently auctioned model, chassis no. 3765, belongs to this exclusive duo. Notably, the 330 LM stands out with its distinctive hood bulge accommodating a more potent 4.0-liter V-12 engine, a significant upgrade from the 3.0-liter engine in the 250 GTO.
This increased engine displacement translated to a noteworthy power boost, pushing horsepower to 385, a substantial increase from the 250 GTO’s 300 hp. During its racing days, the car utilized two different 4.0-liter V-12 engines, achieving success at the Nürburgring in 1962 and later participating in the 24 Hours of Le Mans, giving it the “LM” designation.
Chassis no. 3765 retains its original Le Mans livery from 1962, showcasing its racing heritage. Despite qualifying in seventh place at Le Mans, the car, unfortunately, did not finish the race. Post-racing career, it changed hands in 1964, eventually undergoing modifications to revert to a 3.0-liter V-12 for participation in Italian GT racing as a GTO.
Over the years, the Ferrari passed through various owners, including Pietro Ferraro, Ferdinando Latteri, and Mario Tosi in the U.S., until Jim Jaeger acquired it in 1985. Recently, Jaeger decided to part ways with this iconic piece of automotive history, offering it for auction once again.
