LEGENDARY 1957 FERRARI 250 TESTA ROSSA SMASHES AUCTION WORLD RECORD AT MARANELLO SALE

1957 Ferrari 250 TR   (photo credit: Darin Schnabel)

An iconic, pontoon-fender 1957 Ferrari 250 Testa Rossa (TR) sells for €9,020,000 in Maranello, Italy

 to set a new auction world record as the most expensive motor car ever to be sold at auction.

MARANELLO, Italy (May 17, 2009) – RM Auctions, in association with Sotheby’s, made history at the Ferrari factory in Maranello today as a 1957 Ferrari 250 TR, chassis no. 0714TR sold for €9,020,000 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.

Returning to its Maranello birthplace for its auction debut, the €9,020,000 sale price for 0714TR represents €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 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. We are delighted with the result the car achieved today,” he added.

The beautiful and immediately recognizable 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.  0714TR was extensively campaigned in its day with significant finishes at the world’s most important racing events including the 1000 km Buenos Aires in January 1958.

Presented by RM Auctions in association with Sotheby's, the Ferrari Leggenda e Passione is the only auction of its kind dedicated to the Ferrari marque, held at the Maranello factory grounds and endorsed by the Ferrari factory.

Further information on the sale, full results and hi-res photography will be posted online at RM Auction's website.