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Photos:: 1962 Ferrari 250 GTO

A 1962 Ferrari 250 GTO, regarded by many as the holy grail of classic cars, sold at auction Thursday night in Carmel for about $38 million.

A 1962 Ferrari 250 GTO, regarded by many as the holy grail of classic cars, sold at auction Thursday night in Carmel for about $38 million.  (David Undercoffler / Los Angeles Times)

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This classic Ferrari could sell at auction in Monterey this week for as much as $70 million -- doubling the previous record and spotlighting a soaring market for top-end collector cars.

1662 Ferrari 250 GTO

A 1962 Ferrari 250 GTO, regarded by many as the holy grail of classic cars, sold at auction Thursday night in Carmel for about $38 million.  (David Undercoffler / Los Angeles Times)

1662 Ferrari 250 GTO

A 1962 Ferrari 250 GTO, regarded by many as the holy grail of classic cars, sold at auction Thursday night in Carmel for about $38 million.  (David Undercoffler / Los Angeles Times)

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