A rare, bright-red Ferrari 250 GTO that initially sold for $6,000 in 1964 could soon be auctioned for $60 million

• 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.