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Top 10: High-value auction buys of 2014

There have been some eye-watering prices paid for some of the world’s most desirable classics over the last few months, including almost £23 million for a 1962 Ferrari 250 GTO. The most iconic models from marques like Lamborghini, Aston Martin and Ferrari are fetching record sums when they go to auction, adding fuel to the fire of soaring classic car prices.

But will this ‘boom’ be followed by ‘bust’ at some point soon? Auctioneers tell us that high-end buyers are using their own (rather than borrowed) money nowadays, seeing classics as a sound investment, and demand is likely to remain high. Let’s take a look at ten of the highest achievers of 2014

By Paul Guinness, Contributor

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1962 Ferrari 250 GTO – £22,850,000

The most expensive car ever to go under the hammer achieved almost £23 million in August, when this 250 GTO was sold by Bonhams. It was the first time that a 250 GTO had been publicly sold in 25 years, so expectations were high that this example would break all records.

Robert Brooks, chairman of Bonhams, said at the time: “We’ve always maintained that we would exceed the current world record and that the car would bring between $30 million and $40 million [£18m to £24m], and today the GTO did just that.”

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