A 1962 Ferrari 250 GTO Berlinetta has become the most valuable car in history to be sold at auction when it realized $38,115,000 at Bonhams' Quail Lodge Auction in Carmel, Calif.

Surpassing the current record of the most valuable car sold at auction, which was also set by Bonhams with the 1954 Mercedes-Benz W196 R F1 Racer that sold for $30-million at Bonhams' Goodwood Festival of Speed Auction last year, the Ferrari GTO had been the subject of intense international interest, according to the auction house.

Bidders from around the world were in attendance in the audience and on the telephones. 

According to Robert Brooks, chairman of Bonhams, "It's been a genuine privilege to represent this outstanding car and we are absolutely delighted with today's results. We've always maintained that we would exceed the current world record and that the car would bring between $30-$40-million and today the GTO did just that."

Other cars from the very special Maranello Rosso Collection of ten important Ferraris also sold extremely well for a combined of almost $66 million.