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The annual Pebble Beach Concours d’Elegance is known to attract some priceless classics, but this year, this 1957 Ferrari 250 Testa Rossa prototype took the cake. Gooding and Company, a well known auction house, was catapulted into the record books last week, selling the 250 TR for $16.4 million.
This price was the highest ever realized for an automobile. The TR was actually sold for $14.9 million, or $16.4 million including the mandatory buyer’s premium. The Ferrari was involved in several devastating crashes during its storied history, but was present at the auction in stunning condition.
The right-hand drive Ferrari was once driven by Phil Hill on the Nurburgring, and the car has seen action across the world. The car was also owned by numerous private teams before the successful California entrepreneur Bev Spencer registered the vehicle for road use in the early 1960s. Interestingly, an owner in the 1960s set the car ablaze to collect insurance money, but the car survived the fire, and since the early 1970s has led a pampered life on the show circuit.
This very special 1957 four-cylinder Ferrari 500 is one of the latest additions to the RM Auctions docket at the upcoming Concorso d’Eleganza Villa d’Este where the car is expected to fetch between $3.5 to $4.5 million.
This Ferrari 500 TRC (Testa Rossa Type-C) Spider was the first Ferrari to bear the Testa Rossa name for its red valve covers. Only 19 TRC’s were built and this particular example – chassis number 0670 MDTR – was the sixth vehicle made. These TRC Ferraris, are more rare than the more powerful 12-cylinder 250 TR as well as the infamous 250 GTO which are notorious for selling into the multi millions.