Gooding & Company sells this classic Ferrari for an incredible $14.9 million

Every day the news seems to be about stock markets crashing, unsustainable debt levels and general economic gloom and doom. Somehow this doesn't seem to be affecting the classic car market, or maybe it has, actually - with every other investment seeming to be risky, perhaps people would rather invest in something they can enjoy.

Whatever your view, there can be no denying that the classic car market is very buoyant at the moment and no more so than at the auctions held in Monterey this week. Star of the show was Gooding & Company selling a 1957 Ferrari 250 Testarossa for $14,900,000 (plus commision),  a new world record for the most expensive car ever sold at auction.  Ironically, it was another Testarossa that held the previous record when rival auction house RM sold  a similar car for €9,020,000 at their auction at the Ferrari factory in 2009.

The Gooding car is rather special, though, since it was chassis number 0666TR - the Testarossa prototype - as shown in this exerpt from the very comprehensive catalogue description:

0666 TR was constructed on the tipo 525 chassis, complete with a De Dion tube, transverse leaf-spring suspension in the rear, and A-arms and coil springs up front. As a works-team car, it was specified in a right-hand-drive arrangement. The first engine installed was of the contemporary 250 GT-type, tuned to an even hotter state than the potent, factory-prepared Tour de France Berlinettas. Finally, the completed chassis was draped in fully enveloping coachwork, similar in style to the 290 MM models of 1956.

When it was completed in May 1957, the Testa Rossa prototype looked as though it had been assembled in great haste, with visible hammer marks in the panels, last-minute alterations and varying shades of red paint. In short, it was an appearance not customarily seen on Ferrari-works entries.

Nevertheless, 0666 TR made its debut at the ADAC 1000 Km Nürburgring and, despite its rather experimental finish, the original TR prototype was certainly in healthy tune. During practice, the Scuderia Ferrari-works drivers all had a chance to try out the new race car, including Phil Hill, who had only recently joined the factory team. In the capable hands of Olivier Gendebien, 0666 TR recorded the sixth fastest time in qualifying, just behind the large-displacement Ferrari and Aston Martin works entries.

Masten Gregory, known as “the Kansas City Flash,” was hired specifically to drive the prototype along with Gendebien. After a confusing driver shuffle, Gregory left believing he would return in the morning as a spectator, not as an entrant. When a frenzied Ferrari mechanic burst into Gregory’s hotel room moments before the start, he was proven wrong.

Arriving at the ’Ring just in time, the disheveled Gregory hopped into his similarly groomed mount and set off at a rapid pace. After a few laps, he was running as high as 6th, hot on the heels of the established competition.

Eventually, Gregory handed over the controls to Olinto Morolli, a relatively untested driver who Scuderia Ferrari had temporarily spirited away from his OSCA. Having no time to practice in the new prototype and very little experience with the track, Morolli put on a disappointing performance, recording lap times some three minutes slower than Gregory! As a result, 0666 TR continued to slip in position, yet its strong start helped it finish 10th overall. It was an impressive debut to be sure.

Returning from Germany, the prototype was prepared for its next outing and, on June 13th, the factory Certificate of Origin was issued for 0666 TR.

During July, the Testa Rossa underwent further development and next appeared at the Swedish 6-hour Grand Prix in Kristianstad, where it was equipped with the experimental 3.1-liter engine that had recently been tested at Le Mans.

For that race, the factory assigned Gendebien and Maurice Trintignant to the prototype. However, after an hour and a half of racing, the engine, suffering from various ailments, gave out and the car was forced to retire.

By the time 0666 TR returned from Scandinavia, the CSI had confirmed the new three-liter limit for the 1958 season. Between September and October 1957, 0666 TR was stripped of its envelope body and refinished by Scaglietti in the quintessential pontoon-fender style, with inside door hinges and an air vent installed on the right side between the fender and hood.

At that time, the prototype received its definitive driveline, complete with the tipo 128 LM Testa Rossa motor (No. 0666 TR, Internal No. GES N 6) and four-speed gearbox.

In October 1957, the updated 250 TR was loaded onto a boat at the Genova docks, destined for South America. On November 3rd, before Ferrari officially announced the arrival of the 250 Testa Rossa, this car participated in the Venezuelan Grand Prix at Caracas.

As Caracas was the deciding race of the 1957 World Championship season, Ferrari sent along two 335 S models, as well as its TR prototypes. Count Wolfgang von Trips and Wolfgang Seidel were entrusted with 0666 TR, piloting it to an outstanding 3rd overall behind the giant 4.1-litre four-cam Ferraris. The Maseratis were all but destroyed in the effort. Ferrari had won the 1957 Manufacturer’s Championship and 0666 TR’s podium finish appeared promising for the 1958 season.

After Caracas, the Testa Rossa was left in the care of Ferrari’s South American distributor, Carlos Kaufman, who transported it to Argentina to take part in the first race of the 1958 season, the 1000 Km Buenos Aires held on the 26th of January.

Running alongside four other Testa Rossas – two Scuderia Ferrari team cars and two private entries – 0666 TR was driven by Von Trips, Gendebien and Luigi Musso to an impressive 2nd overall behind the winning team car of Phil Hill and Peter Collins.

The Targa Florio proved to be the last outing for 0666 TR as a Scuderia Ferrari team car. Held on May 11th, the great Italian road race was certainly a challenge of the new Testa Rossa’s stamina, as it demanded 40 arduous laps around the 45-mile Little Madonie circuit.

For this race, the two fastest team cars, 0666 TR and 0726 TR, were equipped with an experimental intake setup consisting of six Solex twin-choke carburetors. This unusual specification was purported to produce a dizzying 330 bhp, albeit with a severely limited power band.

Scuderia Ferrari assigned Wolfgang Seidel and Gino Munaron to drive 0666 TR and the pair drove a beautiful race until the very last lap. While maintaining 4th place, Seidel went off course and slid into a rocky patch. Despite his immediate return to the road, the adventure had torn a hole in the oil sump and the engine quit a mere 5 km from the finish. It was an unlucky end to an otherwise brilliant display.

Certainly it's one of the most significant Ferraris, and I hope the new owner enjoys it to the full and doesn't lock it away in a dimly lit garage.

Another highlight from Gooding was a Shelby Cobra 289 ex-factory team race car that sold for $2,350,000.

RM may have lost its world record but selling ten cars for over $1 million probably means they shouldn't be too unhappy. Top sale was a Mercedes 540K roadster at $9,680,000 including buyers commission.

Another highlight was a Ferrari 250SWB Competizione at $5,280,000 (including commission).  Personally my (fantasy) money would have gone on the lovely blue Ferrari 400 Superamerica, a mere snip at $2,090,000

Gooding has part 2 of its auction tonight (US Pacific time) with highlights including a rare Ferrari 410 Superamerica and a barn find Ferrari 275GTB.

Update:

Gooding followed up the Testa Rossa by selling a Duesenberg Model J Longtail for $9,400,000, last night.  The charms of the car can be seen in the video from Gooding below.

 

 

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