Rare classic Ferrari could sell for record $60M at auction

Rare classic Ferrari expected to sell for record price at auction

MONTEREY, CA (KSBW/CNN/RNN) – A rare car is expected to nab a rare price.

The 1962 Ferrari 250 GTO will be auctioned by RM Sotheby's at the annual Monterey Car Week event this Saturday.

RM Sotheby's, a classic car auction company, calls the entry "the most important Ferrari ever offered publicly."

Bids are expected to break records, potentially making the GTO the most expensive car ever sold at auction.

One of only 36 ever built, it's expected to fetch anywhere from $45 million to $60 million.

The current record holder for most expensive car ever auctioned is another Ferrari 250 GTO, which went for $38 million during the 2014 Monterey Car Week.

Though legendary Italian design company Scaglietti sculpted the GTO's sleek body, potential buyers might be drawn in by more than just looks – the car also sports a 300-horsepower V12 engine.

"This is the ultimate Ferrari road-going race car," said Ian Kelleher of RM Sotheby's. "What makes it very special is that this car has been actively used and campaigned and shown."

But if you want to take it for a spin, keep in mind that there's a $300 registration fee to bid on it.

Copyright 2018 KSBW via CNN. Raycom News Network contributed to this report. All rights reserved.