A crash involving a classic 1960s Ferrari has been described as the most expensive road accident in history.

The Ferrari 250 GTO owned by US businessman Christopher Cox collided with another vehicle as the motorist was on his way to Le Mans in a convoy of classic cars earlier this month.

Mr Cox's wife is thought to have suffered a broken leg in the crash, while two passengers from the other car were also taken to hospital.

Believed to be worth about £20 million, the 250 GTO dates back to 1962 and is one of just 39 ever made.

Earlier this year, a GTO from 1963 became the most expensive car sold in the UK when it changed hands for £20.2 million.

John Collins, chairman of classic Ferrari specialist Talacrest, said demand for vintage Ferraris has soared recently because people view the cars as a solid investment.

He explained: "Classic Ferraris have seen more gains than others, they're like the Picassos of the car world. And the 250 GTO is the golden car of its generation."

Speak to the classic car insurance team at Performance Direct for an expert, professional service and a choice of cover from the UK's leading specialist insurance underwriters.

Posted by Michael Yates

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