1957 Ferrari sells for £8 million, becoming world's most expensive car

A 1957 Ferrari 250 Testa Rossa has set a world record for the most expensive car ever sold at auction, costing almost £8 million.

By Our Foreign Staff and Agencies in Milan
Published: 5:49PM BST 18 May 2009

A 1957 vintage Ferrari 250 Testa Rossa has set a new world record for the most expensive car sold at auction Photo: REUTERS

RM Auctions, which organised the sale, said that the price - 9.02 million euros - which includes a 10 per cent buyer's premium on top of the "hammer price", is nearly two million euros more than the previous record set at a similar auction at Ferrari's headquarters a year ago.

"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 ... Ferrari racing cars," said Max Girardo, managing director of RM Europe.

RM declined to identify the buyer or the seller.

The auction took place on Sunday at Ferrari's factory and test circuit at Maranello, a small town near Modena in the north of Italy.

Between 1957 and 1958, only 22 examples of the two-seater, open-topped model with its "pontoon fender" were made, according to the auctioneeers.

The model of car was used in 19 international championship races from 1958 to 1961, claiming 10 victories.

The car that sold on Sunday has a black body and a red nose. Inside, the leather seats are red.

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