Rare Ferrari 250 GTO sells for 'more than £20m'

Ferrari 250 GTO
The Ferrari 250 GTO is regarded as one of the world's most beautiful cars

An extremely rare Ferrari 250 GTO, one of just 39 built, has been sold for more than £20m ($31m).

The car's seller is thought to be Jon Hunt, the founder of Foxtons estate agency, although the businessman has declined to comment on the matter.

Its three litre V12 engine develops 300bhp and does 0-60mph in 6.1 seconds with a 174mph (280km/h) top speed.

Classic Ferrari dealer John Collins, who once owned the 1963 car, said it had gone to a buyer "across the pond".

"If I'd have thought it would go for that price then no way I would have sold it - I would have hung on to it," said Mr Collins, who sold the car for £2.2m ($3.5m) in 1996.

Mr Collins hinted that the lucky buyer was actually located in South America, despite reports the car had gone to Spain.

The sale ranks as one of the most expensive ever, only eclipsed by a 1936 Bugatti which sold for between $30-40m (£19-25m) in 2010.

The £20m Ferrari - model 5095 - also had a successful racing career, making its debut in the 1963 Tour de France road race - finishing second - and winning three competitions in 1964.

Car fan DJ Chris Evans also had the pleasure of buying a 250 GTO in 2010.

The Radio 2 presenter splashed out £12m ($19m) to get behind the wheel of a car viewed by experts as one of the most beautiful ever made.

Mr Collins, who's been dealing with classic Ferraris for 30 years, said that many ultra-rich buyers were increasingly looking at classic cars as a safe investment in uncertain times.

"People are treating them like Picassos and Warhols," said the dealer.