An extremely rare Ferrari 250 GTO which had a £6,000 price tag when it was manufactured in 1963 has been sold for more than £20m ($31m).

This 1963 model – number 5095 – is believed to have been sold by British businessman Jon Hunt, who bought it in 2008 for a then world record £15.7million.

This makes the Ferrari classic sportscar, second most expensive car in the world today, and definitely the most expensive in Great Britain.

The Amelia Island Concours d’Elegance will celebrate the 50th anniversary of the legendary Ferrari 250 GTO at its 2012 event.

The Foundation has been working on the anniversary celebration for more than two years and expects that it will be one of the most important milestones in the hobby.

The Ferrari 250 GTO was built between 1962 and 1964, and is universally considered the most coveted of all Ferraris built.

An extremely rare example of Ferrari’s legendary 250 GTO from 1963 is being offered for private treaty sale by RM Auctions.

The car, chassis no. 4675 GT, is one of only 36 250 GTOs originally produced and one of a limited few with Series II GTO bodywork.

“The Ferrari GTO is unquestionably one of the most iconic and coveted cars in the world,” notes Max Girardo, Managing Director of RM Europe.

At the “Ferrari Leggenda e Passione”, an exclusive event held annually in Maranello, Italy, during the Mille Miglia, this year on May 17, RM/Sothebys auction will present the 1957 Ferrari 250 Testa Rossa race car.

This masterpiece of design and engineering is expected to break the world record for the most expensive vintage motor car ever to be sold at auction.

The record is currently held by a 1961 Ferrari 250 GT SWB California Spyder which was sold for USD 10,894,400 (€7,040,000, £5,598,208 GBP) at least year’s Ferrari Leggenda e Passione, on May 18, 2008.