A 1962 Ferrari 330 LM initially owned and raced by Ferrari’s manufacturing facility group went underneath the hammer on Monday and set a brand new file for a Ferrari bought at public sale.

The public sale run by RM Sotheby’s noticed the ultimate bid are available at $47 million. With the client’s price included, the ultimate sale value is available in at $51,705,000, eclipsing the earlier file of $48.4 million for an ex-Phil Hill 1962 Ferrari 250 GTO bought by RM Sotherby’s in 2018.

The 330 LM is a a lot rarer automobile than the 250 GTO and was anticipated to fetch round $60 million. A lesser 1963 250 GTO bought privately in 2018 for a rumored value of $70 million, and a 1955 Mercedes-Benz 300 SLR, certainly one of solely two Uhlenhaut Coupe examples, bought final yr for over $140 million.

The 330 LM was an extra growth of the enduring 250 GTO, constructed to adjust to altering FIA laws. Solely 4 had been constructed, as Ferrari was making ready to maneuver to a mid-engine platform, and solely two had been constructed with bodywork resembling the 250 GTO. The automobile that was simply bought, which bears chassis no. 3765, is a type of two.

1962 Ferrari 330 LM bearing chassis no. 3765 – Photograph credit score: RM Sotheby’s

1962 Ferrari 330 LM bearing chassis no. 3765 – Photograph credit score: RM Sotheby’s

1962 Ferrari 330 LM bearing chassis no. 3765 – Photograph credit score: RM Sotheby’s

The 330 LM is definitely acknowledged by the bulge in its hood to accommodate the bigger 4.0-liter V-12 engine used within the 330 LM, as an alternative of the three.0-liter engine within the 250 GTO. The additional displacement bumped horsepower as much as the 385-hp mark, which was a substantial soar over the three.0-liter engine whose output lied nearer to 300 hp.

Two totally different 4.0-liter V-12s had been used within the automobile whereas it was raced by Ferrari. With its first engine, it discovered success in a 1,000-kilometer race on the Nürburgring in 1962, the place it completed second total and first at school. It was then upgraded with a brand new 4.0-liter engine for the 1962 24 Hours of Le Mans, the race from which the automobile takes its LM suffix. Chassis no. 3765 additionally wears the identical livery it did for the 1962 Le Mans race, the place it certified in seventh place however failed to complete.

After Ferrari was achieved racing the automobile, it was bought in 1964 to Pietro Ferraro, who had Ferrari revert the automobile to a 3.0-liter V-12 in order that it might be fielded as a GTO in Italian GT racing. Not lengthy after, he bought the automobile to Ferdinando Latteri who raced it round Sicily, in addition to within the 1965 Targa Florio, although he failed to complete.

Latteri bought the automobile again to Ferrari in 1967, and inside a couple of months it made its approach to the U.S. after being purchased by California resident Mario Tosi. It then traded arms a number of instances earlier than ending up with Ohio resident Jim Jaeger in 1985, who was the vendor at this week’s public sale. The automobile in its present state has the three.0-liter V-12.