There’s a new title holder for “most expensive car sold at auction” and it’s a 1962 Ferrari.

The record-setting sale took place on August 14th at Bohnman’s Pebble Beach (California).  The Ferrari 250 GTO Berlinetta was always the show piece of the week-long auction and some speculated that the car might go for as much as $50 -$60 million (USD).  The final price came in at $38.1 million (including fees). The winning bid was $34 million.

The previous record was set in 2013 when Bonhams sold a 1954 Mercedes Benz W196 for $30 million.

Watch the auction below:

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