The cost of living crisis has clearly not had an impact on one car buyer in New York, who has just spent $51.7 million on a Ferrari. 

The car in question is a 1962 330 LM/250 GTO model, which many classic car experts consider to be the  "Holy Grail" when it comes to the famous prancing horse models. 

The $51.7 million price tag at the RM Sotheby’s auction makes this the most expensive Ferrari ever sold at auction and the second highest auction car price ever.

The car its self has proud racing record and had been in the private ownership of the chairman of the Ferrari Club of America for 40 years. 

Often hailed as the most beautiful ever made, just 39 of the iconic models were made in the production run from 1962 to 1964. This means it is extremely rare for such a model to come up for sale and that money is no object to potential buyers.