If you are an automobile lover, you probably know that some of the famous vintage cars designed by brands like Ferrari, Mercedes-Benz, Jaguar, Aston-Martin and so on, have changed hands over the years only to be bought by the new owner at a greater price than the last.

The concept of “second-hand” or “worn-out” does not exist in the world of car auctions where four-wheelers from the 1950’s can sell for millions. In fact, Sotheby's: Fine Art Auctions & Private Sales — a multinational auction firm — has made quite a name for itself by attracting record-breaking bids when it comes to pricing of the vehicles.

The auction house made quite a buzz last week, when it announced that the 1962 Ferrari 250 GTO, chassis no. 3413 — presently owned by renowned car collector Greg Whitten, former chief software architect at Microsoft and present chairman of Numerix — will be up for grabs at an auction at the annual Concours d’Elegance motoring week event in Pebble Beach, Monterey, California, on Aug. 24 and 25.

The race car’s pre-auction price is estimated to be $45 million — a sale amount that can easily shoot up once the auction starts, making it a worthy contender for the most expensive car ever auctioned. The most expensive car till date to be auctioned was 1963 Ferrari 250 GTO, chassis 4153, which race car driver Christian Gläsel sold in a private sale to David MacNeil, founder of the car floor mats maker WeatherTech, for at least $70 million in June.

“We are thrilled at the rare opportunity to offer a legendary Ferrari 250 GTO at auction,” said Shelby Myers, car specialist at auction consigner RM Sotheby's, Forbes reported. “This is just the third time that a GTO has been offered for public sale in the new millennium. The fact that the GTO exists as it did in period along with Dr. Whitten’s long-term enthusiastic ownership only adds to the car’s impeccable pedigree.”

So what about some of the other cars which made record-breaking sales at auctions in the past? Here are 24 of them, plus a look at the 1962 Ferrari 250 GTO, which could potentially break the existing record for the most expensive car ever sold.