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


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    • 1 Second Ago
  • 19 Comments
      Sukairain
      • 3 Years Ago
      Wow, US dollar is weak.
      catjim
      • 3 Years Ago
      The Ferrari 250 Testa Rossa 57' - 58' vintage is the car that actually started the 'mystique'. The high-winding, shriek of the 3 liter V12, was only matched by the shotgun ferocity of it's crackling downshifts. In the dark of the Sebring night back in 57' and 58' the only thing that resonated was the constant, beautiful, devilish howl of the 'blood-reds' from Maranello! Only the 330P4 and the astounding modern day masterpiece; the 333sp can match the Testa Rossa as a true 'signature' car for the scuderia known as Ferrari.
      Ray
      • 3 Years Ago
      I bet it was a Republican who bought it, They have all the money thats why they want to do away with SSI and health care and Medi care and uneployment
      50 AKA Ferrari
      • 3 Years Ago
      And this is a good example of why US has problems.. $16 million for A CAR?!?! But these the same yahoos that don't want to pay their equal share in taxes for the benefit of all.
        lvngrust
        • 3 Years Ago
        @50 AKA Ferrari
        I wish people like would would do their homework before making stupid comments. First of all people in this country that you consider wealthy pay in excess of 50% in federal and state taxes. The top 10% of wage earners pay the lion's share of taxes. I do not understand this mentality that anyone is owed anything. The only thing our government owes us is protection from our enemies and equal representation in congress and the senate. To think you are owed something is ridiculous. Try getting a job and taking care of yourself. I have been working and providing for myself the last 30 years and am doing fine. You are nothing more than a lazy, whinny idiot with no common sense whatsoever.
          RJC
          • 3 Years Ago
          @lvngrust
          Watch Fox news much?
          mathiaswegner
          • 3 Years Ago
          @lvngrust
          No. As a percentage of income, the top earners pay significantly less. That's the only yardstick worth using when having this conversation. For instance, Warren Buffett recently wrote about taxes, pointing out that he was only taxed on 17.4% of his income last year, compared to his employees paying between 33 and 41%. Now Buffett certainly handed more dollars over to the IRS than his secretary did, but his secretary gave up more of his or her income to the IRS, and because the secretary earns less, it impacts the secretary more. Either way, it has nothing to do with a Ferrari, so let's please not have this conversation on Autoblog.
        • 3 Years Ago
        @50 AKA Ferrari
        [blocked]
          mirtius@yours.com
          • 3 Years Ago
          That's because if the taxes weren't so high, he could buy himself a bigger boat, mansion, garage, more cars, planes, helicopters, etc. Mind you, the more wealthy they are, the bigger complaints they have. Worth to mention is that also they don't pay taxes that much and spent every single penny carefully, in other case, they wouldn't have so much money :)
      John
      • 3 Years Ago
      There's a video of the auction here: http://www.youtube.com/watch?v=bjsPBrf6X7U
      Horizonstar
      • 3 Years Ago
      LOL @ Yen (x100)
      BOB
      • 3 Years Ago
      Gimmie 7 , one for each day
      Sik68
      • 3 Years Ago
      "Gooding's ten percent selling fee" If it's a seller's fee, why are you adding 1.49M to the buyer's price?
        Fermat1313
        • 3 Years Ago
        @Sik68
        They charge a buyer's fee as well as a seller's fee. The buyers fee is 10% on top of the price. The seller also pays a percentage of the proceeds from the sale, so RM wins on both ends.
      diffrunt
      • 3 Years Ago
      inflation has hit money laundering too!
      • 3 Years Ago
      [blocked]
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