If you like wearing fancy hats and hobnobbing around the golf links while bidding millions of dollars for classic cars, you probably go to Pebble Beach, Calif. every August.

One of the world's top car shows takes place on California's Monterey Peninsula every year, with rare classic cars on display, vintage races and record-setting top-shelf car auctions. The 2018 event begins Friday, Aug. 17.

There are at least a couple of serious record-breaking contenders at this year's auctions, according to Hagerty, a classic car insurance and valuation company. The one looking to score the big bucks is a 1962 Ferrari 250 GTO with a presale estimate of $45 million to $60 million at RM Sotheby's. It's not far-fetched: a 1963 Ferrari 250 GTO sold for a whopping $70 million in a private sale in June, according to media reports.

With that in mind, here's a look at some of the most expensive and beautiful cars ever sold at auction.

Photo:© Kimball Studios / Courtesy of Pebble Beach Concours

This article was written by a staff member of TheStreet.