Ferrari Auction Breaks Record

October 25, 2011 by staff 

Ferrari Auction Breaks RecordFerrari Auction Breaks Record, A 1957 Ferrari Testa Rossa brought and 16.4 million at auction in California, setting the record for the highest price ever paid for a car at auction.

The car was the first Testa Rossa built, and served as a prototype for Testa Rossa race cars. It has a 300 horsepower 3.0-liter V-12 and a four-speed manual transmission. The hammer fell on Saturday at the annual Pebble Beach Concours d’Elegance Car Week in Monterey California, where hundreds of classic cars were sold expensive.

The buyer was not identified.

”The ultra rich are still rich,”said the Swiss historian Marcel Massini Ferrari Sydney Morning Herald. ”The very very best is readily sold incredibly high.”

The bright red Ferrari 250 Testa Rossa, who competed at Le Mans 24 hour race, won first place in the 2006 Concours d’Elegance, where classic cars are judged on their appearance and condition.

The previous record for a car sold at auction was the sale and another 12 million in 1957 Testa Rossa Maranello, Italy in 2009. The price paid on Saturday includes a 10 percent rate auction Gooding & Company, according to CNNMoney.

Goes unsold at auction was a 1925 Rolls-Royce Phantom News that was expected to collect 1 million. He was also an unsold 1963 Rolls-Royce Silver Cloud III Drophead Coupe owned by Sammy Davis Jr.

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