Rare Ferrari crash could cost owner big

July 13, 2012 12:00 AM

Nobody likes to pay for auto repairs, but most car owners can be thankful they don't have to shell out millions when their vehicle has a problem. That's not the case for American investor Christopher Cox, who may be facing a steep vehicle repair bill after one of his rare cars was involved in a crash.

Cox is one of the few people in the world who owns a 1962 Ferrari GTO, an extremely rare car that many collectors consider to be the Holy Grail of automobiles. Just 35 of these cars were made, and Enzo Ferrari personally selected the people that would get them. Cox paid upwards of $30 million for the car at auction, and it's pretty rare to see the vehicle out and about.

Yet the car was out at a recent Ferrari rally in France, although Cox is probably wishing he stayed home. The extremely valuable car was reportedly hit by another driver, according to CNBC, battering the car's front end.

Although the official total for the damage has not been made public, CNBC speculates that it could be the "world's most expensive car crash," given the rarity and price tag of the vehicle involved.

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