This 'old bin' can yield just 40 million

monterey - Sotheby's has a rare showpiece at the annual Concours d'Elegance for automobiles in August: a Ferrari 250 GTO from 1962. The auction house expects a record return of more than 45 million dollars, a sloppy 40 million euros. So much has never been paid for an 'old bin' at a public sale.

The Italian manufacturer built only 39 copies of this fast and elegant model. The racing cars have always delivered top prizes in recent years. In 2014 Bonhams caught the current record of 38.1 million dollars for such a 1963 classic.

Sotheby's has learned, however, that recently a car of this type from the same year has been replaced by owner for 70 million.

The Ferrari 250 GTO that comes under the hammer this summer, has been in the possession of Greg Whitten since 2000, the top man of Numerix Software and former employee of Microsoft in the early years. In the car is still the original engine, gearbox and rear axle. The body is also the same that came out of the factory 55 years ago.

It has not been announced what Whitten was talking about at the time.

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