• 1964 Ferrari 250 LM Fetches $14 Million at Auction

If it’s a classic from Maranello that is rare and has won races in the past, you can’t expect it to come cheap. That fact that was proved once again at a car auction in New York, where a gorgeous 1964 Ferrari 250 LM, along with other more collectible items from the history of the automobile, were on sale.

Noted auction houses, Sotheby’s and RM Auctions, brought 32 trophy vehicles that fetched a total of $62.8 million in sales. Of that $62.8 million, the Ferrari 250 LM was contributed a whopping $14.3 million, more than double that of the previous 250 LM sold and a new record for the model.

The sale of the 1964 250 LM also got its name in the costliest Ferrari’s ever sold list. Ferrari never produced more than 32 examples of the 250LM.

Click past the jump to read more about the 1964 Ferrari 250 LM

1964 Ferrari 250 LM

1964 Ferrari 250 LM Fetches $14 Million at Auction High Resolution Exterior
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Making sports car for a living and not winning Le Mans 24 Hours is not something Enzo Ferrari would’ve deemed acceptable. And so in the year 1965, Ferrari stamped its name on the Le Mans trophy with the 250 LM. The car was first intended to be mass produced for road use but was later converted into a race car. Right from the onset, the 1964 Ferrari 250LM was built like a prototype racing car and featured a mid-engine, rear-wheel-drive layout.

1964 Ferrari 250 LM Fetches $14 Million at Auction Drivetrain
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It measured just 44 inches tall and had an aerodynamically sound body. Built by Ferrari’s trusted metal workers at Scaglietti and designed by Pininfarina, the 250LM was like those historic Ferrari masterpieces that Ferrari of today owes its existence to. The V-12 engine was fed with 3 Webber carburetors, allowing this 3.3-liter to put out a healthy 320 horsepower at 7,500 rpm.

1964 Ferrari 250 LM Fetches $14 Million at Auction Interior
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The Ferrari 250LM, which was designed with a close to perfect front to rear weight balance, was first showcased at the 1963 Paris motor show. With the engine bolted right behind the driver, the radiators and two fuel tanks holding 65 liters each were placed in front of the rear axle.

Since, FIA regulations put the 250LM into the prototype class, EnzoFerrari later offered it to private teams with an updated engine. At the hands of these folks, the 250LM went on to win many more accolades. In 1965, in the able hands of Luigi Chinetti, the NART team took overall victory in the prototype class at Le Mans.

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