Luxury News from Luxury Insider

Rare Ferrari 250 TR Fetches Record-Breaking $12 million

Published: 5/20/2009 10:17:00 AM

Keywords: Auctions | Automobiles

 

By LAWRENCE TAN

While Ferrari offered up its last production F430 (with a special silver and gold livery) for charity at the RM Auctions over the weekend, it was another classic that stole the show at the 3rd annual Ferrari Leggende e Passione auction in Maranello.

The vintage Ferrari in question – a 1957 Ferrari 250 TR, chassis no. 0714TR – went under the hammer for more than $12 million, eclipsing the previous record set by a 1961 250 GT California Spyder last year for the most expensive motor car ever sold at auction.

Fully restored in its period race-correct black livery and red nose, this 250TR was one of only 22 Testa Rossas ever built from 1957 to 1958 that featured the Scaglietti-designed 'pontoon-fender'.

The Ferrari 250 TRs are recognized by discerning collectors as one of the most desirable and competitive racing Ferraris ever built, having raced and won in 10 of 19 international championship races from 1958 to 1961.

0714TR was no exception, and according to Ferrari, was the most campaigned of the 250TR cliente series cars, with its own proud ownership and storied racing history to tell.

The car’s first owner, Italian racing driver and coachbuilder Piero Drogo took it to a fourth placed finish in the 1000 km Buenos Aires in January 1958, competing alongside legendary names like Phil Hill, Peter Collins, Wolfgang von Trips and Olivier Gendebien.

Since then, 0714TR has gone on to compete in the Grand Prix of Cuba and Portugal, followed by a string of triumphs on the 1959 North American racing circuit before bowing out at the Elkhart Lake 500 in June 1963.

The car’s new owner, whose name was not disclosed, has no doubt not only scored a precious collector’s item but also a slice of Ferrari’s racing history.

RM Auctions