Skip to Content

This 1962 Ferrari Is Poised to Become the World’s Most Expensive Car

Inside The Pebble Beach Concours d'Elegance Classic Car ShowInside The Pebble Beach Concours d'Elegance Classic Car Show
The Ferrari logo is displayed on the hood of the 1962 Ferrari 250 GT SWB Berlinetta Speciale on Aug. 15, 2015. David Paul Morris—Bloomberg/Getty Images

Want to splash the cash this holiday season? You better have plenty of it if you’re eyeing this Ferrari.

The year 2016 has been a bumper one for flamboyant auto-purchases. Earlier this winter a Dubai-based property developer shelled out $9 million for a number “5” license plate. Now, a blue 1962 250 GTO is poised to take pole position as the world’s most expensive car, CNBC reports.

And it’s on sale for a whopping $55 million.

The current record holder—auctioned for $38.1 million back in 2014—used to belong to storied British racer Stirling Moss and is also a 250 GTO.

So what makes the latest record holder such a big deal?

According to John Collins, founder of Talacrest, the U.K.-based Ferrari dealer that is selling the vehicle, the difference is largely down to its divergence from traditional Ferrari red.

“The color’s striking, the blue with a white stripe—it’s original race colors and the race history on the car is really good,” Collins said. “Most of the GTOs are red—if you compare this with a red one it just stands out so much more.”

For more Ferraris, watch Fortune’s video:

Race pedigree and history are reportedly also decisive factors among high-rolling buyers. The blue ’62 comes up to speed on these counts too.

Of the 39 250 GTOs Ferrari produced, this car was only the second made and the first to compete in a race. And its record is not too shabby: the car reportedly achieved 17 podium finishes across the 27 races it competed in and even flouted 1960’s regulations, which prohibited cars with production runs of less than 100 entering some races.

“Enzo Ferrari got away with everything,” said Collins.