Rare 1956 Ferrari 290 MM sells for $28.05 million at RM Sotheby's auction

Rare 1956 Ferrari 290 MM sells for $28.05 million at RM Sotheby's auction

At an auction held by RM Sotheby's in New York City on Thursday, a rare 1956 Ferrari 290 MM by Carrozzeria Scaglietti fetched a whopping amount of $28.05 million. Before the auction, which featured a total of 31 vehicles, it was estimated that the Ferrari would sell at $28 million to $32 million.

The Ferrari was the top-selling car at RM Sotheby's auction in 2015; and was the second most expensive car ever to be sold at auction. The most expensive car ever auctioned was the 1962 Ferrari 250 GTO, which was sold for a staggering $38.1 million at Bonhams’ Quail Lodge in August 2014.

The 1956 Ferrari 290 MM was sold to an anonymous telephone bidder, and was backed by a pre-arranged and undisclosed financial guarantee by RM Sotheby’s. The car was originally built for Formula One racing legend Juan Manuel Fangio for participation in the 1,000-mile Mille Miglia race through Italy.

The ferociously race proven 1956 Ferrari 290 MM, which ended its racing career in 1964, did not crash even once. Other than Fangio, some other revered Ferrari Grand Prix drivers to have steered the car included Phil Hill and Wolfgang von Trips.

Meanwhile, besides the 1956 Ferrari 290 MM, another top-selling vehicle at RM Sotheby's auction on Thursday was Janis Joplin's 1964 psychedelic Porsche 365 C 1600 SC Cabriolet. The car fetched $1.7 million at the auction, surpassing its estimated price range of between $400,000 and $600,000.

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