1957 Ferrari sold for € 9 million

A pontoon-fender 1957 Ferrari 250 Testa Rossa (TR) was sold for €9,020,000 in Maranello, Italy to set a new auction world record as the most expensive motorcar ever to be sold at an auction. 

The Scaglietti designed ‘pontoon-fender’ 250 TR was produced between 1957 and 1958 during which time only 22 of these cars were built. The Ferrari 250 TRs entered 19 international championship races from 1958 through to 1961 emerging victorious 10 times and earning them a legendary status among discerning collectors. 0714TR was extensively publicised/ campaigned in its day with significant finishes at world’s most important racing events including the 1000 km Buenos Aires in January 1958.

Returning to its Maranello birthplace for its auction debut, the €9,020,000 sale price for 0714TR is €1,980,000 more than the previous auction world record, which was set at the same sale last year. The 1957 Ferrari 250 Testa Rossa will now replace the Ferrari 250 GT SWB Cal Spyder that set the auction record world record last year.

However, before the auction the 250 TR was expected to sell for about € 12 million. Incidentally several other cars failed to fetch their estimated price. The economic downturn does affect the market for classic cars too. Various auctions showed however, that the most premium car segment is less affected.

By and large the sale of the 250 TR proves the rule of thumb for automotive collectors: Buy the first or the last of a series or buy racecars with a very well documented history. Have patience and a good place to keep them in mint conditions.