And we're off to the races!

Monterey Weekend has begun and there's no other better confirmation than a record-setting auction.

This go around a 1962-1963 Ferrari 250 GTO sold for a record breaking $38 million dollars. I don't think I need to emphasize what a truly astonishing amount of money that is to pay for an automobile.

The subject had a pretty interesting history. Originally a 1962 model, it was raced and involved in a serious crash where its driver perished. From there the vehicle was sent back to Maranello where it was rebuilt as a 1963 model and acquired by the Violati family in 1965. Since then the vehicle's been in the family's possession and raced extensively.

As you'd expect with a GTO, it's been kept original since the '63 rebuild.

Unlike today's modern F cars that wear the Scuderia shields without seeing a minute of track time, this GTO has earned its shields fair and square.

**Learn MORE about this specific 250 GTO via the clip below!

..."We've always maintained that we would exceed the current world record and that the car would bring between $30 million and $40 million, and today the GTO did just that," said Robert Brooks, chairman of Bonhams...

...This particular car had two model years because, shortly after it was first sold, it was badly damaged in a racing crash that killed driver Henri Oreiller. After that, it was sent back to the Ferrari factory where it was rebuilt as a 1963 model.

Adding to this car's value was the fact that it was owned by one family, that of mineral water magnate Fabrizio Violati...


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PEBBLE BEACH: VIDEO — 1962-1963 Ferrari 250 GTO Breaks The Record Books At Auction, Brings SERIOUS $$$

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