The Ferrari 250 GTO is a homologated GT car which was produced by Ferrari from 1962 to 1964 for homologation into the FIA's Group 3 Grand Touring Car category. In May 2012 the 1962 250 GTO made for Stirling Moss became the world's most expensive car in history, selling in a private transaction for $38,115,000 to US communications magnate Craig McCaw. In October 2013, Connecticut-based collector Paul Pappalardo sold chassis number 5111GT to an unnamed buyer for a new record of around $38 million.The numerical part of its name denotes the displacement in cubic centimeters of each cylinder of the engine, whilst GTO stands for "Gran Turismo Omologato", Italian for "Grand Touring Homologated." When new, the GTO cost $18,000 in the United States, and buyers had to be personally approved by Enzo