Gathering of the Ferraris to mark 50th anniversary of world's most expensive car

This is the moment 24 classic Ferraris worth an estimated £500million assembled to celebrate the 50th anniversary of the world's most expensive car.

The legendary Ferrari 250 GTO is the most sought after sports car with one model recently selling for a record-breaking £22.4million.

And to mark its 50th birthday 24 wealthy owners from across the globe assembled in France for an exclusive party.

As part of the five-day tour, the enthusiasts drove the iconic Gueux racing circuit in Reims before visiting the Abbey of Hautvillers, the home of Dom Pérignon champagne.

It is hard to put an exact value on the Italian convoy, but it is estimated the total value of Ferraris is around half a billion pounds.

Just 39 Ferrari 250 GTOs were made between 1962 and 1964 with Enzo Ferrari selling them initially for £6,000.

And while always expensive, the value of the 250 GTO has skyrocketed in recent years with one green model built for Stirling Moss selling last month for a world record amount.

Chris Evans is also understood to have sold his model recently for somewhere in the region of £18million.

The 250 GTO uses a 3-litre V12 engine developing 300bhp which results in a 0-60mph time of 6.1 seconds and a top speed of 174mph.

Ferrari 250 owner Peter Sachs, who was on the tour, said: 'The 250 GTO is certainly an iconic car today, perhaps because of the high values which it has achieved, but the real reason is its unique combination of rarity, racing success, beauty and super balance."

Tour organiser Jean Berchon added: 'The GTO is to the automobile what the Mona Lisa is to painting, a timeless standard of beauty combined with total mastery and effectiveness.

'Essentially, the GTO and the rally to mark its 50th anniversary are just two sides of the same coin, a tribute to the glorious past of the car that was built to last.'