A rare, bright-red Ferrari 250 GTO that initially sold for $6,000 in 1964 is soon going on auction for $60 million.Ferrari RM Sotheby's has put up a 1962 Ferrari 250 GTO for auction for around $60 million. The car was first sold in 1964 for $6,000, per the WSJ. It was later sold for $500,000 in 1985. Car collectors love the GTO model Ferraris because of their championship history. In the 1980s, Ohio resident Jim Jaeger was on the hunt for "the ultimate Ferrari" and settled on a Ferrari 250 GTO.

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