When it comes to classic cars, there aren’t many that make quite the same impression as a 1962 Ferrari 250 GTO. Back in the ‘60s Ferrari was competing with the ‘elite’ and it was this competitive spirit it seems that led to the development of perhaps the greatest Ferrari of all-time.

The recipe for success was simple, a hand crafted body and a 3-liter V12 engine churning out 300hp, enough to take the 250 GTO up to 180 mph. With form following function, the 250 GTO is easily one of the best examples of automotive brilliance.

The astonishing level of performance and the timeless shape ranks the 250 GTO among the greatest Ferrari’s ever produced. In 2013, a Ferrari 250 GTO was auctioned for a whopping $52 million, making it the most expensive car ever sold in the world. This year, another 1962 Ferrari 250 GTO goes under the hammer. But this one’s got quite the back story…

This 250 GTO is the 19th of 39 to roll off the assembly line and has remained with the same family for nearly the past five decades. When the car was first purchased in 1965, the owner only drove it late at night when the world was asleep. The idea was that with less people on the road, there was less of a chance for the car to get damaged. After some time, the prancing horse was sold to French ski champion Henri Orieller, who raced the car with heavily worn out tires causing one to blow up and the car to flip over nearly breaking it in half. Henri, who was 38 died in the wreck.

Ferrari took the GTO back, and after restoring it to its original condition, sold it to the same family who managed to preserve it while racing at several events till the year 2000. This made it the last of its kind to compete on such a regular basis and the only 250 GTO to ever stay with a single owner for the longest period – 49 years.

This very special, Ferrari 250 GTO, is all set to go on sale on the 15th of August at the Quail Lodge in Monterey California; where experts believe it will easily surpass the current record of $52 million.