Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

This exceptionally rare car just made history at the Pebble Beach auctions

Danielle MuoioAug 20, 2016, 18:30 IST

RM Sotheby's

The very first Shelby Cobra just broke the record for the the most expensive American car sold at auction at Pebble Beach Friday.

Pebble Beach is a five-day vintage car show in Monterey, Calif. that kicked off Wednesday, with bidding beginning this weekend. The five different auctions occurring are expected to bring in $370 million.

The original Cobra just sold for a whopping $13.75 million, breaking the record held by a 1968 Ford GT40 race car that sold for $11 million in 2012. Here's a closer look at the car and why it's so valuable: