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A 1962 Ferrari has sold for a record $51.7m (£42m) at a Sotheby’s auction in New York.

The striking red 330 LM/250 GTO model, which is the only GTO Tipo 1962 to have been raced by Formula 1’s Scuderia Ferrari, has become the most valuable Ferrari and the second highest priced car to be sold at auction.

Dubbed a “once-in-a-generation” chance purchase, the iconic vehicle – which was given the chassis number 3765 – was claimed by its new owner after nearly four decades in private ownership.

Alongside making sales history, the model has a legendary status on the racing track having won second place at the 1962 Nürburgring 1,000km in Germany and was placed second in the GTO class at the 2011 Pebble Beach Concours d’Elegance.

The “Holy Grail” hypercar was previously owned by a chairman of the Ferrari Club of America.

RM Sotheby’s sells the most valuable Ferrari ever sold at auction for $51.7 million
Pic:Sotheby’s
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Pic: Sotheby’s

It won an FCA Platinum Award, the Coppa Bella Macchina at the Cavallino Classic and received a Best of Show at the Amelia Island Concours d’Elegance in Florida.

Mike Parkes and Lorenzo Bandini piloted the car for Scuderia Ferrari at the 1962 24 Hours of Le Mans race, and it also secured the position of runner-up in the 1965 Sicilian Hillclimb Championship.

RM Sotheby’s sells the most valuable Ferrari ever sold at auction for $51.7 million
Pic:Sotheby’s
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Pic: Sotheby’s

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Gord Duff, RM Sotheby’s global head of auctions, said: “Celebrating this sale during Sotheby’s marquee week highlights the unparalleled stature of this Ferrari as one of the world’s most desirable objects.”

“Now, it ranks among the most expensive cars sold at auction, a true testament to its singular place in history,” he added.

The collector’s piece is one of the rarest and most sought-after sports cars where just 36 models were made from 1962 to 1964, according to Forbes.

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Biden allows Kyiv to begin firing US rockets deep into Russia – as Starmer calls on allies to ‘double down’ on support

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Biden allows Kyiv to begin firing US rockets deep into Russia - as Starmer calls on allies to 'double down' on support

Joe Biden has authorised Ukraine to begin firing US-supplied rockets deep into Russia – as Sir Keir Starmer prepares to push for “further support” for Kyiv at the G20 summit.

Mr Biden’s policy shift means Kyiv will now be able to use Army Tactical Missile Systems (ATACMS) for long-range attacks, two American officials have told Sky News’ US partner network NBC News.

Ukraine plans to conduct its first such attacks in the coming days, the sources said, without revealing details due to operational security concerns.

The US has eased restrictions on the use of ATACMS, which have a range of up to 190 miles, after Russia began deploying North Korean ground troops to supplement its own forces in the conflict.

The development was condemned by Biden officials as a possible expansion of the war.

President Joe Biden meets with Ukrainian President Volodymyr Zelenskyy in the Oval Office in September last year. Pic: AP
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Joe Biden meets with Volodymyr Zelenskyy in the Oval Office in September last year. Pic: AP

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The son of president-elect Donald Trump has criticised the move to allow Ukraine to fire deep into Russia.

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Donald Trump Jr wrote on the X social media platform: “The Military Industrial Complex seems to want to make sure they get World War 3 going before my father has a chance to create peace and save lives… Imbeciles!”

The outgoing Biden administration’s move comes as there are concerns about the level of support the Trump White House may be willing to give Ukraine.

Mr Trump has previously vowed to limit US support for Ukraine and end its war with Russia.

In an evening address after Kyiv was given permission to fire deep into Russia, Ukrainian President Volodymyr Zelenskyy said: “Today, there’s a lot of talk in the media about us receiving permission for respective actions. But strikes are not carried out with words. Such things are not announced. Missiles will speak for themselves. They certainly will.”

Back in September, Russian President Vladimir Putin said if the US were to lift the ban on long-range missile use it would be seen as NATO’s “direct participation” in the war.

He added: “This, of course, will significantly change the very essence, the very nature of the conflict.”

The US military tests an early version of an Army Tactical Missile System in 2021. Pic: AP
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The US military tests an early version of an Army Tactical Missile System in 2021. Pic: AP

Meanwhile, the UK prime minister has said he has “no plans” to speak with the Russian president as world leaders gather for the G20 summit in Rio de Janeiro.

Mr Putin will not be attending the two-day summit which starts on Monday after saying in October that his presence would “disrupt the normal work of this forum”. Russia’s foreign minister Sergei Lavrov will be attending instead.

It will take place days after German Chancellor Olaf Scholz spoke to Mr Putin on what was the Russian leader’s first publicly announced conversation with the sitting head of a major Western power in nearly two years.

Asked if he had any plans to make a similar call, Sir Keir said: “It’s a matter for Chancellor Scholz who he speaks to. I have no plans to speak to Putin.”

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Firefighters work at the site of a residential area hit by a Russian missile strike in the Lviv region of Ukraine. Pic: Reuters
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Firefighters work at the site of a residential area hit by a Russian missile strike in the Lviv region of Ukraine. Pic: Reuters

Speaking to reporters while on his way to the summit, he added: “We are coming up to the 1,000th day of this conflict on Tuesday.

“That’s 1,000 days of Russian aggression, 1,000 days of huge impact and sacrifice in relation to the Ukrainian people and recently we’ve seen the addition of North Korean troops working with Russians which does have serious implications.

“I think on one hand it shows the desperation of Russia, but it’s got serious implications for European security […] and for Indo-Pacific security and that’s why I think we need to double down on shoring up our support for Ukraine and that’s top of my agenda for the G20.

“There’s got to be full support as long as it takes and that certainly is top of my agenda, shoring up that further support for Ukraine.”

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One of Russia’s ‘largest air attacks’

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The latest developments come after Russia launched a large-scale attack on Ukraine on Sunday, with Mr Zelenskyy claiming Moscow had launched a total of 120 missiles and 90 drones.

The sweeping attack, which left at least eight people dead, targeted energy infrastructure across Ukraine overnight and prompted emergency power cuts.

Hours later, Moscow mayor Sergei Sobyanin said Russia’s air defence units had destroyed a drone heading towards the city.

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It’s a stunning shift in US policy – but Biden’s announcement will trigger fury and fresh threats from Moscow

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It's a stunning shift in US policy - but Biden's announcement will trigger fury and fresh threats from Moscow

Joe Biden’s belated decision to allow Ukraine to use US-supplied, long-range missiles inside Russia will be cheered by Kyiv and will almost certainly prompt the UK to follow suit.

But the stunning shift in US policy – just weeks before Donald Trump takes over as US president – will also trigger fury and fresh threats from Moscow at a time of increasing uncertainty about the future course of its war.

President Vladimir Putin has warned the West they would be playing with fire if they allowed Ukrainian forces to launch Western-supplied cruise and ballistic missiles at Russia, saying it could even trigger a global conflict.

British and US officials, though, have repeatedly advised their respective capitals not to be intimidated by Moscow’s sabre rattling.

Ukraine war latest: Biden lifts ban on Russia strikes

Yet there has been hesitancy, particularly in Washington, over the unleashing of US Army Tactical Missile System (ATACMS) ballistic missiles beyond the borders of Ukraine.

However, it seems that a move by North Korea to send thousands of its troops to fight with Russia has changed US calculations.

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The New York Times, which was among the US media organisations to break news of the Biden administration’s decision on long-range missiles, reported that the first time the American weapons will be used inside Russia will likely be against Russian and North Korean troops battling a Ukrainian incursion in the Russian region of Kursk.

While a significant step up in support for Ukraine, the ability to use American long-range missiles inside Russia is not a war-winning development.

But it does expand Kyiv’s capacity to hit important military targets deliberately positioned by Russian commanders far back from the frontline. This includes stockpiles of missiles, drones and other ammunition used to strike Ukraine.

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Biden lifts ban on Russia strikes

Just as important as the military impact, though, is the political signal that the US decision sends to the Kremlin about Washington’s willingness to defy Russian warnings about dire consequences should Mr Biden dare to grant Ukraine the permission it’s so long been seeking.

The dramatic move by the United States comes after months of lobbying by Ukraine’s leader, Volodymyr Zelenskyy.

A key thing to watch now will be how Mr Putin reacts the first time an American missile kills Russian soldiers on Russian soil.

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Moscow does not want a direct war with the United States and NATO – nuclear-armed forces with far greater combined firepower – but the Kremlin could well ramp up an already heightened campaign of sabotage and other forms of hybrid warfare across Europe.

Another important reaction to track will be how Mr Trump responds to Mr Biden’s move and whether he continues to allow Ukraine this permission once he takes over as the US commander-in-chief.

The president-elect has vowed to end Russia’s war in Ukraine quickly but he has not said how. Yet he has voiced fierce opposition to the continued gifting of vast quantities of American weapons to the Ukrainian military.

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Russia fires more than 200 missiles and drones at Ukraine in largest attack since August

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Russia fires more than 200 missiles and drones at Ukraine in largest attack since August

Several people have been killed after Russia launched its largest aerial attack on Ukraine since August.

More than 200 missiles and drones were deployed, Volodymyr Zelenskyy said, as he condemned a “massive combined strike” on “all regions”.

Andrii Sybiha, Ukraine’s foreign minister, said “peaceful cities” and “sleeping civilians” were targeted.

Ukraine war – latest updates

Moscow is focused on the “energy infrastructure throughout Ukraine” and is trying to intimidate Ukrainians with “cold and lack of light”, Mr Zelenskyy said.

The president added: “The whole world sees and knows that we are defending ourselves against absolute evil, which does not understand any language but force.

“We need unity [and] the world needs unity. Only together can we stop this evil.”

A firefighter at the site of a Russian drone strike in Mykolaiv in southern Ukraine. Pic: State Emergency Service of Ukraine/Reuters
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A firefighter at the site of a Russian drone strike in Mykolaiv in southern Ukraine. Pic: State Emergency Service of Ukraine/Reuters

Two people were killed and a 17-year-old boy was injured after a Russian attack in the Black Sea port of Odesa, regional governor Oleh Kiper said.

Energy infrastructure was damaged, he said, leading to “interruptions in the supply of heat, water and electricity”.

In Mykolaiv, southern Ukraine, officials said two people were killed in a Russian drone attack.

Ukraine’s state emergency service said a multi-storey building, cars and a shopping centre were hit.

Two women were killed and six injured, including two children, it added.

In the central Dnipro region, two people died and three were wounded in a strike on a rail depot, while in Lviv, on the border with Poland, a woman was killed in a car.

Emergency services remove part of a Russian missile from an apartment building in Kyiv. Pic: Reuters
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Emergency services remove part of a Russian missile from an apartment building in Kyiv. Pic: Reuters

In the capital, Kyiv, mayor Vitali Klitschko said Russian attacks had caused a fire to erupt on the roof of a residential building, injuring at least two people.

People took refuge in metro stations, while emergency services were pictured removing part of a Russian missile from an apartment block.

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The Ukrainian military said it had destroyed 102 missiles and 42 drones launched by Russia.

Hypersonic missiles were among the 120 fired at Ukrainian territory, it said.

Air defences were active in “almost all” regions of Ukraine.

Equipment at thermal power stations has been “seriously damaged” during Russian air strikes, Ukraine’s largest private energy provider said. DTEK said its staff were working on repairs.

People sheltering in a metro station in Kyiv. Pic: Reuters
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People sheltering in a metro station in Kyiv. Pic: Reuters

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Russia’s defence ministry confirmed it had attacked energy resources supporting Ukraine’s military-industrial complex, Russian news agencies reported.

Poland scrambled its air force early on Sunday because of the “massive attack by the Russian Federation using cruise missiles, ballistic missiles and unmanned aerial vehicles”.

Mr Zelenskyy sent his condolences to anyone affected by the latest Russian attacks.

He said “all necessary forces” were involved in restoring power and facilities.

On Tuesday, it will be 1,000 days since Russia launched what it calls its “special military operation”.

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