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Ferrari sells for $12.15 Million at Italian auction

A 1957 Ferrari 250 Testa Rossa (TR) made world history Sunday when it sold for 9.02 million euros ($12.15 million) at an auction in Italy.

The valuable Ferrari 250 TR has a black body, red nose and
red leather seats.

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A 1957 Ferrari 250 Testa Rossa (TR) sold for 9.02 million euros ($12.15 million) at an auction held at the Ferrari factory in Maranello, Italy. RM Auctions, in association with Sotheby’s, sold the car at the Ferrari Leggenda e Passione. It is the only auction of its kind dedicated to the Ferrari marque, held at the Maranello factory grounds and endorsed by the Ferrari factory.

The price was nearly 2 million euros above the price paid for a 0714TR Ferrari at the same sale last year.

Max Girardo, Managing Director of RM Europe, noted in a statement that bidding was intense. “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,” he said.

“The eyes of the world were watching today’s sale as cars of this quality are so rarely offered to the market. The quality and the provenance of the Testa Rossa speaks for itself and the price we achieved today is testament to that…” he added.

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, as well as the honor of being one of the most desirable and competitive racing Ferraris ever built.

The buyer was not identified.

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