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$31M Ferrari Involved in World's Most Expensive Car Accident

American owner collides with another vehicle during Ferrari 250 GTO motorcade to Le Mans.

By Joshua Condon Jul 10, 2012 11:57AM
An example of a 1962 Ferrari 250 GTO Scaglietti, seen at the 2011 Pebble Beach Concours d'Elegance. Photo by Perry Stern.Crashing any car is traumatic; crashing a Ferrari is traumatic and pricey; crashing one of the most prized Maranello models ever, valued at more than $31 million, in what some are speculating could be the most expensive crash in history ... well, even contemplating that particular scenario makes our man-bits retract just a bit.

American businessman Christopher Cox was involved in a collision with another car last week during a motorcade of legendary Ferrari 250 GTOs through France en route to the Le Mans Classic, held this past weekend at the iconic race track in the northwest part of that country. His wife, Ann Cox, suffered a broken leg, while two passengers from the other vehicle were also sent to the hospital. Luckily, no fatalities were reported.

No news yet whether the car -- a blue-and-yellow Ferrari similar to the one pictured above -- can be salvaged, though Cox's model was involved in a collision once before, in 1976, and the full restoration that took place before Cox bought the car in 2005 likewise restored its ultra-rarefied price.

The model in question is one of only 39 Ferrari 250 GTOs in existence, as Ferrari produced the model for a mere handful of years during the 1960s. Last month, a mint-green 250 GTO sold for more than $35 million, setting a new record for a Ferrari sold at auction.

[Source: Chicago Tribune via Metro UK.]

663Comments
Jul 10, 2012 1:18PM
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my guess is that Mr Cox has already fed enough people and provided enough housing and medicare for those he employed or employs.  If he wants to own a car worth $31MM so be it.  Without the Mr Cox's of this world you would all be living in a cave with a torch for light and a pit to pee in.  Last i checked America was the land of the free and home of the brave and home of the entrepenure.  instead of tearing him down, you should be thankful he and his ilk exist to feed, cloth and house your lazy a&&es.
Jul 10, 2012 1:23PM
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It saddens me to see so many people jealous of other's success and saying he deserved it, I for one applaud Mr. Cox for actually driving his car instead of keeping it always locked in a museum. I hope the people that were injured get well and I also hope the car can be restored and driven again.
Jul 10, 2012 1:14PM
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I have to laugh at the idiot remarks here, where does it say HE was at fault? Also at the remarks that seem to think he should spend his money on them or the poor ~ get your own millions, you lazy ingrates.
Jul 10, 2012 1:14PM
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It is a shame that most readers cannot relate to cars that cost more than they will ever see or earn.

The tragedy of the material loss is overshadowed by the lack of compassion or appreciation for what amounts to art on wheels. Such is America, overweight, undereducated and unsophisticated. That is a much larger tragedy.

 

Jul 10, 2012 5:01PM
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Isn't the Most Expensive Car accident the involving Tiger Wood's Escalade and Pitching Wedge??
Jul 10, 2012 1:15PM
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To everyone complaining about the cost of the car and the fact that you cannot afford it, then a bit of advice: work harder and longer then maybe you can. The people who buy these cars do not work at McD's for a living.

Jul 10, 2012 2:48PM
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I hear the Gecko with Geico just dropped dead from a heart attack.
Jul 10, 2012 1:54PM
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Anyone talking bad about this guy for having such an expensive car is just jealous and spiteful.

How many of us give all our money away? You could forgo putting gas in your car. Forgo eating dinner and give the money to someone who hasn't eaten for a week. All of us are guilty. None of us are saints, and none of us are willing to do whatever it takes. I agree, money can always be spent in a wiser way. It's too bad that he and 3 others were involved in an accident. Secondly, it's unfortunate that such a beautiful car was damaged. Correct, it is just a car. The people are the most important thing. I do understand why the car was so expensive, and I appreciate the fact that it is a "masterpiece". I don't understand why people decide they know better, and are smarter than this guy. I guess my point would be, if you are so disgusted by what you see as a waste of money, change the way YOU do things. Give all your money away to the needy. Be a good person. Don't be hateful.

Work on your own faults, instead of pointing out whats wrong with others. Those of you who still think everybody else is wrong because you don't agree with what they do,  shame on you. You have your own Egotistical issues to solve...

Jul 10, 2012 1:08PM
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For all you naysayers saying so what or good for him, look at it this way.  Those are not just cars anymore.  They are rare pieces of automotive art.  Would you care if a Picasso was accidently destroyed?  Well maybe you wouldn't, but I appreciate art and I would care.
Jul 10, 2012 1:13PM
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No trailer queen there. At least he enjoyed driving it, true car guy!!!!!!!
Jul 10, 2012 3:52PM
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Wait a minute... what was the model of the other car involved in the accident? Can you imagine if it is the other driver's fault?!? HOLY COW!!!! I cannot EVEN imagine hitting a $31,000,000.00 car!

"...uhm, I'm not sure if my insurance will cover this...let me talk to my Allstate agent."

"Well,  I spoke with my Allstate agent ...he used his "Good Hands" to show me his "Good Finger"

Jul 10, 2012 1:51PM
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At least he was driving it.   I hate trailer queens.
Jul 10, 2012 1:14PM
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I Love Ferraris and I cant afford one sothis is no laughing matter it dosent matter if the guy can afford the car or not what matters is that a beautifull hand made peice of art is potentialy lost to all of us. Remember we may not be able to own something but like all art it doesent matter who it belongs to just that we are able to enjoy it be thankfull that the owner doesn't keep it locked away in a warehouse where it never sees the light of day again.
Jul 10, 2012 2:27PM
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Not a lot of detail there about anything except the price of the car. No pictures, no explaination of the incident. It's for sure the reporter on this will never make enough to have a Ferrari with lack of reporting skills like that.

"Someone broke something very expensive... we don't know what happened but we thought you'd like to know about it anyway. Here's a picture of one that's kind of like it that isn't broken." 

Jul 10, 2012 12:58PM
Jul 10, 2012 1:16PM
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Most of you who posted probably voted for Obama huh? What ever happened to "Don't Envy the Rich and Don't Pity the poor..."? -Andy Rooney
Jul 10, 2012 1:42PM
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A wise man once said " the object and design of man's existance is to find hapiness" if buying a 31 million dollar Ferrari makes the man happy, so be it. Its his money, he earned it so get over it!

what you really need to worry about is that the 1970 dollar is now worth 10 cents! because of the 500+ Leaders of our country and their disgusting fiscal policies. If he bought his 31 milliion dollar toy in 1970 it would have cost 3.1 Mil. so the real problem is the dollar is on it;s way to being valuless. WORRY ABOUT SOMETHING THAT COUNTS!! vote the bums out !

Jul 10, 2012 1:13PM
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bummer about the car.  this is like the mona lisa getting torn in transport.  too bad there are so many haters of other peoples good fortune
Jul 10, 2012 2:24PM
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If you can afford to own it, you can afford to fix it. No tears for Mr. Cox.

 

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