Ferrari 250 GTO world's most expensive car at $55.3m

Despite the global economic slump, We've seen the record price for cars rise several times over the past few years. And each time, it's been a Ferrari that takes the crown -- suggesting that the car brand is a better investment than gold, shares and real estate.

A new record has been reached, according to Bloomberg, with a 1963 Ferrari 250 GTO -- like the one shown above -- selling for US$52 million ($55.3m) in a private deal.

The car is reportedly an ex-race car from the holdings of Greenwich, Connecticut-based collector Paul Pappalardo, but may have recently moved to a Spanish collector. Although the buyer has not been identified, the sale was confirmed to the business news service by three independent specialist classic car traders.

But Pappalardo himself declined to give any confirmation when contacted. "We don’t confirm these things," Pappalardo told Bloomberg. "I have no comment."

The car had been in Pappalardo's collection since at least 1974, and is a renowned race vehicle that bagged first place in the 1963 Tour de France Automobile, and the 1964 and 1965 Chamrousse Hillclimbs.

The Ferrari 250 GTO models are a must-have for serious collectors of the Prancing Horse -- including  Pink Floyd drummer Nick Mason and fashion designer Ralph Lauren -- and this desirability is reflected in their string of record prices.

The 1963 Ferrari 250 is the latest of its breed to hold the world record, taking it from  a 1962 Sterling Moss Ferrari 250 GTO sold for US$35m ($37.2m) in January 2012. That car swiped the crown from another 1962 250 GTO that went for US$28.7m ($30.5m) in September 2008 during the onset of the global financial crisis.

Those were all private sales. We've yet to see a 250 GTO offered publicly, and the Ferrari record at auction is considerably lower -- held by a 1957 Ferrari 250 Tesa Rossa that saw a hammer fall of US$16.4m ($17.4m) at a Pebble Beach auction in 2011.

This reporter is on Twitter: @KarlaPincott