In photos: Ferrari raced by F1 legend may be most expensive car ever

globe drive

Published October 23, 2015

While rocker Janis Joplin’s Porsche – painted to show the ‘history of the universe’ – and an Aston Martin DB4 GT Zagato are to be auctioned by RM Sotheby’s in December, the undeniable star will be a 1956 Ferrari 290 MM by Scaglietti. Rumours have the price breaking the record for the most expensive car to sell at auction. That record is held by a Ferrari 250 GTO, sold last summer for $38.1-million (U.S.). The auction house has refrained from publishing a pre-sale estimate. This 290 MM, one of only four built, was custom-made for Juan Manuel Fangio, arguably the greatest racer of all time. Fangio won 31 Grands Prix between 1954 and 1958 mostly for Mercedes and Maserati, but for one year Ferrari was able to lure him into this car. The 290 MM was built for the Mille Miglia and Fangio drove the 1,000-mile race single-handedly through the rain to a fourth-place finish. The car was then raced by a who’s who of the greats from Phil Hill to Peter Collins. “Driven by the greatest drivers of the 1950s and build for possible the greatest drive in history, this is a car with which Enzo Ferrari was personally involved and is a fundamental part of Ferrari folklore,” said RM Sotheby’s car specialist Peter Wallman, in a statement. “Its originality, coupled with its extraordinary provenance and history, which are truly second to none, can only lead you to conclude that it is one of the most desirable and valuable cars that will ever come to the open market.” The 290 MM comes with strong documentation and has never been truly crashed. “The same car without the history, or with major crashes, would be worth a lot less,” said Hagerty Price Guide publisher Dave Kinney, to Time’s The Drive. “And don’t underestimate that it looks great.” A price in the $35-million range is rare for cars, but not for art. And it is hard to deny this car is now considered more art than a mode of transportation. More than 40 paintings have sold for more than $70 million (U.S.), with the most expensive – Paul Gaugauin’s Nafea Faa Ipoio – selling for $300 million in February. A Pablo Picasso sold for more than $38 million in 1988. After the 290 MM finished its racing career, it was purchased by a collector and stayed in his collection for 34 years before being purchased by its current owner. The auction, which runs Dec. 10 in New York City, will also feature an Aston Martin DB4 GT Zagato (est. $16.8 million U.S.), a 1938 Bugatti Type 57C Atalante (est. $3.2 million U.S.) and a one-of-a-kind Lamborghini Concept S (est. $3 million U.S.).

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