Bugatti, Ferrari, Mercedes are the most expensive classic cars of 2023

In a year marked by cooling values and economic uncertainties, collectors have displayed unwavering commitment to investing top dollars in the rarest cars globally.

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On November 13, a 1962 Ferrari 330 LM/250 GTO by Scaglietti set a new record, selling for $51.7 million at an RM Sotheby’s auction in New York City. This antique racer not only became the most expensive Ferrari ever auctioned but also secured the title of the priciest publicly sold car in 2023.

The substantial margin by which it outperformed the next highest sales is notable: a $30.2 million 1967 Ferrari 412P Berlinetta by Bonhams on August 17, an $18.8 million Formula 1 Mercedes via RM Sotheby’s on November 17, and an $18 million 1962 Ferrari 250 GT SWB California Spider by Gooding & Co. on March 2. A 1964 Ferrari 250 LM, selling for €15.7 million ($17 million) at an Artcurial auction on July 5, rounded out the top five.

However, despite these remarkable results, the latter part of the year witnessed softer outcomes, and ongoing macroeconomic factors such as conflicts in Ukraine and Israel suggest that collectors’ enthusiasm may cool in the months ahead.