A rare and well-documented Ferrari
250 Testa Rossa went on the block this weekend in Maranello, Italy, as part of the prestigious "Ferrari Leggenda e Passione" event that's held there annually in conjunction with the Mille Miglia retrospective. When the hammer finally fell at the RM Auctions/Sotheby's event, this beautifully restored classic Testa Rossa (Chassis 0714 TR) commanded a record-setting top bid of 9,020,000 euros -- roughly $12.2 million. That's 1,980,000 euros up on the previous record holder, a 1961 Ferrari 250 GT SWB California Spyder once owned by actor James Coburn that brought 7,040,000 euros ($10,894,400) at this high-roller gathering in 2008. Only 22 TR 250s were built during the car's 1957-58 production run. With their immediately recognizable Scagletti coachwork, the TR immediately became -- and has remained -- one of the most highly sought-after Ferraris. This one was delivered to its first owner, Peter Drogo, in Modena in December 1957. After finishing fourth in the 1000 km of Buenos Aires the following January, it subsequently competed in numerous other races and was driven by Phil Hill, Wolfgang von Trips and Peter Collins, among others. Later sold to American entrepreneur Alan Connell, the Ferrari was retired in 1963 following an appearance in the Elkhart Lake 500 at Road America.