Ferrari 250 Testa Rossa Sets Auction Record at $12M

Ferrari 250 Testa Rossa Sets Auction Record at $12M

A Ferrari has once again set a new record for the highest sale price at an auction. The 1957 250 Testa Rossa sold for 9,020,000 Euro (or roughly $12 million), topping the previous record holder,  a 1961 Ferrari 250 GT that reached $9.6 million last year.

The 250 Testa Rossa hit the block in Ferrari’s home town of Maranello during a special Ferrari-themed RM auction titled Leggenda e Passione.

“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 RM Europe’s managing director Max Girardo.

Debuting at the Buenos Aires 1000 Km race in 1958, the 250 Testa Rossa is one of just 22 similar models. It placed fourth in that race and was later sold to an American who raced it extensively in the SCCA championship.

Official release after the jump:

A 1957 FERRARI 250 TESTA ROSSA SETS THE RECORD FOR THE HIGHEST EVER BID AT PUBLIC AUCTION FOR OVER 9 MILLION EURO

Maranello, 17 May 2009 – This afternoon a 1957 Ferrari 250 Testa Rossa was sold at auction for a record figure – 9,020,000 Euro.

The car, one of just 22 similar models built at Maranello, boasts an important race history in North and South America. It debuted at the Buenos Aires 1000 Km in 1958 where it came 4th overall before being sold to a US client who raced it extensively in the SCCA championship.

The 250 Testa Rossa went under the hammer over 2 million Euro higher than the previous record set last year for the ex-James Coburn 1961 Ferrari 250 GT California Spider which fetched 7.040 million.

With this new record, the Ferrari Leggenda e Passione auction organized by RM Auctions in collaboration with Sotheby’s has once more demonstrated that it is the top venue for collectors and enthusiasts of the marque.