1957 Ferrari Testa Rossa Sets New Auction World Record at €9.02 Million

As predicted, the legendary pontoon-fender 1957 Ferrari 250 Testa Rossa set a new world record on Sunday at the third annual Ferrari Leggenda e Passione event as RM Auctions, in association with Sotheby's managed to sell the historic Prancing Horse model for an astonishing €9,020,000 or with the current exchange rates, US$12.2 million. The most expensive motor car ever to be sold at an auction fetched €1,980,000 more than the previous auction world record which was set at the same sale last year.

"The historical significance of this car attracted a bidding war as collectors from around the world - both in the room and on the telephone – competed to secure one of the most alluring and iconic of all Ferrari racing cars," said Max Girardo, Managing Director of RM Europe.

The Scaglietti-designed 'pontoon-fender' 250 Testa Rossa was produced from 1957 to 1958 during which only a mere 22 examples were built. The Ferrari 250 TRs participated in 19 international championship races from 1958 through 1961 taking first place in ten of them. The specific 250 TR with chassis no. 0714TR, took part in many important races including the 1000 km Buenos Aires in January 1958.