A new car auction world record was set today in Maranello, Italy, with the sale of an iconic, pontoon-fender 1957 Ferrari 250 Testa Rossa (TR) for $12.2 million (Euro 9,020,000) making it the most expensive car to be sold in an auction.
The 1957 Ferrari 250 TR, chassis no. 0714TR sold at the third-annual Ferrari Leggenda e Passione event to set a new world record for the most expensive motor car ever to be sold at auction by RM Auctions, in association with Sotheby's.
Returning to its Maranello birthplace for its auction debut, the euro 9,020,000 sale price represents euro 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 TR was produced from 1957 to 1958 during which only 22 examples were constructed.
The Ferrari 250 TRs entered 19 international championship races from 1958 through 1961 emerging with 10 victories and earning them legendary status among discerning collectors,