(Tue 19 May 09)

A 1957 Ferrari 250 TR (Testa Rossa) has achieved the highest price for any car ever sold at auction. The car, one of just 22 built for international motor racing, was bought for €9,020,000 (about £7.8 million at current exchange rates), beating the previous record by nearly €2 million.

The 250 TR was sold at the third annual Ferrari Leggenda e Passione event in Maranello organised by RM Auction in association with Sotheby's. "The historical significance of this car attracted a bidding war as collectors from around the world - both in the room and on the telephone – competed to secure one of the most alluring and iconic of all Ferrari racing cars," said RM Europe Managing Director Max Girardo.

"The eyes of the world were watching the sale as cars of this quality are so rarely offered to the market. The quality and the provenance of the Testa Rossa speaks for itself and the price we achieved is testament to that. We are delighted with the result the car achieved today."

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