California man who became mystery owner of $38,000,000 1962 Ferrari 250 GTO before revealing himself shares how he managed to buy it

The mystery buyer of a $38 million 1962 Ferrari 250 GTO, who later revealed his identity, has explained how he managed to buy his dream car.

Ferrari made just 36 units of the 250 GTO, but only one of them was finished in white: the 1962 Bianco Speciale. 

The rare Ferrari made history for Mecum Auctions when it was recently sold, and speculation swirled about who the buyer might be.

However, the lucky new owner went public shortly afterwards, announcing the news on Instagram, and he’s now revealed how he managed to acquire the super rare car.

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The 1962 Bianco Speciale 250 GTO was snapped up by a Ferrari superfan

The car was snapped up by famous Ferrari enthusiast David Lee.

David is the CEO of Hing Wa Lee Group, one of the largest luxury watch retailers in the US, and to say that he’s a Ferrari fan would be a huge understatement. 

The American businessman has a truly mind-blowing collection worth more than $100 million, and that’s before his latest purchase.

Among his eye-popping collection is a 288 GTO, F40, F50, Enzon, and LaFerrari Aperta in both red and yellow, which he calls his ‘ketchup and mustard’ collection.

Last month, he took to Instagram to reveal himself as the mystery buyer. 

“I am proud to be part of Ferrari’s history book as the newest custodian of this masterpiece,” he said on Instagram.

“I have been collecting for a long time now and have had many goals. The big five in red. The big five in yellow. The F80. But the top of the mountain, the last infinity stone of Ferrari collecting, is the 250 GTO.

“I am humbled and honored to have achieved this goal. Remember to always dream big, no matter how impossible the goal may seem. I look forward to sharing with you all my journey.”

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He’s revealed how he bought the 1962 Ferrari 250 GTO

Now, Lee has revealed how he achieved his goal, after initially thinking he’d have no chance of winning the car. 

In an interview with Forbes, Lee admitted he didn’t have high hopes about landing the 1962 Ferrari 250 GTO, but he ‘decided to play anyway’. 

However, Lee also decided that it’d probably be best if he didn’t attend the auction in person. 

He told the publication that in the heat of the moment and with adrenaline coursing through his veins, he might not make the most rational decision. 

Instead, he sent his go-to broker on his behalf and stayed on a call with him throughout the auction to give him permission to bid. 

The bids quickly flew up, but as the rare Ferrari approached its reserve price, Mecum Auctions’ boss Dana Mecum was willing to work out a deal. 

Lee’s broker had already met with Mecum when the car had been displayed, so the broken and Mecum were able to communicate and negotiate with Lee on the call.

The deal was hammered out, and Lee was announced the proud new owner of the Bianco Speciale, which is now sitting with the rest of his incredible Ferraris. 

“I believe in destiny, and this car was for me,” he added. 

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