A 1962 Ferrari 250 GTO, valued at over $30 million, has been crashed in France in what reports suggest is the world’s most expensive car crash.

American businessman Christopher Cox, the Ferrari’s Owner/Driver smashed into another car last week during a trip to commemorate the model’s 50th anniversary.

Mr Cox was en route to Le Mans among a convoy of Ferrari fans when the accident happened near the town of Blois in Central France on Friday.

Cox’s wife, Ann, suffered a broken leg in the accident and it appears that Cox is unharmed. Two passengers in the other vehicle were taken to a nearby hospital.

Mr Cox’s model rolled out of the Ferrari factory in April 1962. One of only 39 ever built, the 174mph sports car sold with a $11,000 price-tag.

Initially red, it was resprayed blue with a yellow central stripe in 1963. The car crashed once before, in 1976 but was fully restored before Cox bought it in 2005.

The value of the 250 GTO has rocketed in recent years with a green model built for Stirling Moss selling last month for a record $35 million.