Rare Ferrari 250 LM shatters auction records at $36.3M

In a landmark sale that has set the automotive world buzzing, chassis #5893 - one of the most significant Ferrari 250 LMs in existence - has commanded an extraordinary $36.3 million at RM Sotheby's Paris auction. This particular example, which claimed overall victory at the 1965 24 Hours of Le Mans, now stands as the most valuable Ferrari ever sold at auction, second only to the legendary 250 GTO.

The astronomical figure exceeded pre-sale estimates by $10 million, cementing its position as the sixth most valuable automobile ever sold at auction. But the price tag only tells part of the story. This 250 LM represents a pivotal moment in motorsport history, marking Ferrari's final overall victory at Le Mans to date.

What makes this chassis particularly intriguing is its unconventional path to victory. Originally intended for GT Group 3 competition, Ferrari's limited production run of just 32 units fell short of FIA's 100-unit homologation requirement, forcing the car into the prototype category. Under the North American Racing Team (N.A.R.T.) banner, drivers Masten Gregory and Jochen Rindt piloted the "underdog" 250 LM to an unlikely victory, outmaneuvering more powerful competitors like the Ford GT40 and Cobra Daytona through superior handling and reliability.

The car's racing career continued well beyond its Le Mans triumph, with appearances at the 24 Hours of Daytona in 1966 and 1968, and return visits to Le Mans in both 1968 and 1969. Its final competitive outing came at the 1970 Daytona race before N.A.R.T. owner Luigi Chinetti transferred it to the Indianapolis Motor Speedway Museum, where it resided for decades.

More recently, the 250 LM has continued to collect accolades on the concours circuit, including prestigious "Best in Show" honors at both Pebble Beach and Amelia Island in 2023. The identity of the new owner, who now holds the keys to this piece of motorsport history, remains undisclosed.

This sale underscores the ever-increasing value of historically significant competition Ferraris, particularly those with Le Mans provenance. As one of just 32 examples produced, chassis #5893 represents the perfect storm of rarity, racing success, and historical importance that continues to drive the top end of the collector car market.

Kikar HaShabbat contributed to this article.