Rare Ferrari 250 TR expected to break records at RM's Maranello auction

With its stunning pontoon-fendered bodywork sculpted by Scaglietti, the Ferrari 250 TR is not only one of the most beautiful cars ever built, it was one of the most competitive as well. Ferrari captured ten victories in nineteen races from 1958 to 1961, including a class win at Le Mans with Phil Hill and Olivier Gendebien.

It's rare to see one offered for sale, and it is a guarantee that a massive sum of money will exchange hands when one comes on the market. Those high-end car collectors who remain unaffected by economic woes will have the chance to part with such funds this coming May when a 1957 Ferrari 250 TR, chassis #0714TR, crosses the block at RM Auctions' Ferrari Leggenda E Passione sale in Maranello. This particular example was campaigned extensively from 1958 to 1963 and is painted in its period-correct black paint with a red nose. RM expects the 250 TR to set a new world record for a car sold at auction, potentially exceeding the rumored $21.7 million it took to buy a 250 GTO $10.89 million dollar sale of a 1961 Ferrari California Spyder last year. More details on the sale in the press release from RM after the break.


[Source: RM Auctions]

PRESS RELEASE:

RM Auctions, in association with Sotheby's, will present one of the most historically significant and valuable Ferrari racing cars ever offered at auction, the legendary 1957 Ferrari 250 TR (chassis no. 0714TR), when the famed Ferrari Leggenda e Passione event returns to Maranello, May 17, 2009. Held during the final stretch of the famous Mille Miglia retrospective, the exclusive annual event will offer an unprecedented collection of historic Ferraris for auction.

Considered one of the most alluring, competitive and iconic of all Ferrari racing cars, the beautiful and immediately recognizable Scaglietti-designed, 'pontoon-fender' 250 TR was produced from 1957 to 1958 during which only 22 were constructed. The Ferrari 250 TRs entered 19 international championship races from 1958 through 1961 emerging with 10 victories and earning them legendary status among discerning collectors, as well as the honor of being one of the most desirable and competitive racing Ferraris ever built.

"This legendary 250 TR is one of the most exciting motor cars ever to be presented in auction history," said Max Girardo, Managing Director of RM Europe.

"The Ferrari Leggenda e Passione event, now in its third year, is firmly established as the place to sell important road and race going Ferraris, and we are delighted to present this stunning 250 TR at its Maranello birthplace," he added.

0714TR was extensively campaigned in its day with significant finishes at the world's most important racing events and is now being offered at auction for the first time. The car is resplendent in its period race-correct black livery and red nose.

In December 1957, this car was delivered to its first owner, racing driver and future coachbuilder, Piero Drogo in Modena, Italy. Drogo debuted the car as a privateer in the celebrated 1000 km Buenos Aires in January 1958 with a respectable fourth place finish competing with such legendary drivers as Phil Hill, Peter Collins, Wolfgang von Trips and Olivier Gendebien. Following entries in the Grand Prix of Cuba and Portugal, the car was sold by American Ferrari agent Luigi Chinetti to Texas rancher and entrepreneur Alan Connell whose competitive driving skills and affluence afforded him several wins on the 1959 North American racing circuit. 0714TR continued its prowess on the track with subsequent owners and competed in its last professional race in June 1963 at the Elkhart Lake 500.

The Ferrari 250 TR has become an enduring and exceedingly valuable classic whose soaring lines and sculptural elegance give it a sense of speed even when standing still. The legendary s/n 0714TR is by far the most campaigned of the 250TR cliente series cars with a fascinating ownership and racing history, establishing its rarified place in the collector world as one of the most beautiful and valuable Ferraris ever offered in auction history.

For further information or to discuss consignment opportunities, please contact RM's London Office on +44 (0) 20 7293 6336 or visit www.rmauctions.com. All cars presented at the Ferrari Leggenda e Passione event will be certified by Ferrari Classiche.

About RM Auctions, Inc.
Celebrating 30 years in the collector car industry, RM Auctions and its associated companies are responsible for acquisitions, restorations and sales of the world's rarest and most valuable vintage automobiles, including record-breaking sales in Maranello, Italy and London, England. RM's restoration division has achieved unprecedented accolades earning "Best of Show" honors at the world's top Concours events. For further information, visit www.rmauctions.com

About Sotheby's
Sotheby's is a global company that engages in art auctions, private sales and art-related financing activities. The Company operates in 40 countries, with principal salesrooms located in New York, London, Hong Kong and Paris. The Company also regularly conducts auctions in six other salesrooms around the world. Sotheby's is listed on the New York Stock Exchange under the symbol BID.

About Ferrari S.p.A.
Exclusivity, technological excellence, precision engineering and outstanding performance are the hallmarks of Ferrari S.p.A. a unique sports car manufacturer. Based in Maranello, Italy, Ferrari delivers to its clients about 6,400 individually crafted cars annually, each a work of art. Since the first car appeared in 1947, the famous Prancing Horse on a yellow shield has represented the motoring and racing ideal among Ferrari fans around the world.

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