Rare Ferrari GTO sells for record $70 million

How much money would you pay for the car of your dreams?

How much money would you pay for the car of your dreams? What about a one-of-a-kind beauty that you see driving past your prestige dealer? How about a rare 1963 Ferrari GTO?

If you are Dave MacNeil, the answer to the latter, is USD $70 million. MacNeil, who is the CEO of automotive weather guard company WeatherTech, shelled out the record amount for a rare Ferrari.

It is no ordinary rare Ferrari of course. While already limited to 39 builds, this particular one, chassis number 4153 GT, is special. The car won the 1964 Tour de France motor race and finished fourth at Le Mans in 1963.

Records Broken

The $70 million paid by MacNeil eclipses the previous record for the Ferrari GTO. In 2013, a GTO was sold for a then record $53 million.

The Ferrari GTO is powered by a 3.0-litre V12 engine and is one of only 39 built between 1962-1964.

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MacNeil joins an exclusive group of GTO owners that include Ralph Lauren and Walmart heir Rob Walton.

How much is too much?

When you are in the same tax bracket as the Ralph Laurens and Walmarts of the world, perhaps there really isn't a price that is too much for a prized automobile. It is truly rarefied air when the cars in your collection exceed seven digits a piece. For the rest of us, it seems utterly ridiculous of course. Collectors however, do see the worth of these incredibly rare vehicles.

How would you rather spend $70 million? I would definitely buy an expensive sports car, but one for considerably less.