1957 Ferrari 250 TR Prototype at Gooding

Prices for vintage Ferraris have escalated the last few years, with the more expensive models breaking records for the price of a car sold at auction. A 1961 Ferrari California Spyder sold for more than $10 million in 2008, and a 1957 Ferrari 250 TR went for more than $12 million in 2009. When auction house Gooding announced that it would be selling the recently restored 1957 Ferrari 250 TR prototype at this past weekend's Pebble Beach sale, we had a feeling that the record would be broken once again.

Our hunch was correct, as a final bid of $14.9 million was offered for the car at Friday night's auction. Taking into account Gooding's ten percent selling fee, the final price rang in at an astounding $16.39 million.

In addition to the 250 TR, Gooding sold six additional cars over the million dollar mark including a 1959 Ferrari 250 GT LWB California ($3.355 million), a 1963 Shelby Cobra 289 Factory Team Car ($2.285 million) and a 1953 Ferrari 375 Vignale Coupe ($2.2 million). You can read more about the record-breaking auction in Gooding's press release after the jump.
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PEBBLE BEACH, Calif. (August 21, 2011) - Gooding & Company, the official auction house of the Pebble Beach Concours d'Elegance, made history last night selling the iconic 1957 Ferrari 250 Testa Rossa Prototype for an outstanding $16.39 million. Recognized the world over for its historical significance and stunning design, the auction of the Scaglietti-bodied, pontoon-fendered Prototype mesmerized thousands of people in the Pebble Beach auction room as well as around the world via Gooding & Company's live webcast and twitter conversation #2011PebbleBeachAuctions. Energized with excitement after the Testa Rossa arrived on stage with a thunderous engine growl, the crowd cheered when Auctioneer Charlie Ross accepted the commanding first bid of $10 million. As the audience watched in amazement, both Charlie Ross and David Gooding entertained the steadily-escalating bids that soared past major benchmarks of $12 million, $13 million and $14 million. When the gavel finally dropped, there was a roar of enthusiasm confirming Gooding & Company's outstanding $16.39 million world record achievement.

Setting the tone for an outstanding start to its two-night Pebble Beach Auction, Gooding & Company's top ten final results from yesterday are as follows:

1957 Ferrari 250 Testa Rossa $16,390,000
1959 Ferrari 250 GT LWB California $3,355,000
1963 Shelby Cobra 289 Factory Team Car $2,585,000
1953 Ferrari 375 Vignale Coupe $2,200,000
1964 Porsche 904 Carrera GTS $1,210,000
1972 Ferrari 365 GTS/4 Daytona Spider $1,025,000
1956 Ferrari 275 GTB $1,001,000
1959 Fiat "Ferrari" Scuderia Factory Transporter $990,000
1956 Ferrari 195 Inter Berlinetta $990,000
1921 Bentley 3 Litre $962,500