Ferrari 290 MM Could Sell For Over $28M at Auction

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A classic Ferrari built for Formula One legend Juan Manual Fangio could pull a whopping $28 million at auction – or maybe even more.

According to Sotheby's, the 1956 Ferrari 290 MM is one of the greatest, most original, and most valuable cars ever offered at public auction.

"In the history of motor racing, it is hard to imagine two names with greater stature than Ferrari and Juan Manuel Fangio, the enigmatic five-time Formula One World Champion. To find a car which so closely connects these two great motor racing legends is the Holy Grail for car collectors and aficionados the world over. RM Sotheby’s is thrilled to announce it will offer one such automobile, the ex-Works 1956 Ferrari 290 MM, chassis 0626, at its exclusive Driven by Disruption sale, December 10 in New York City. Raced not only by Fangio but also future World Champion Phil Hill, along with numerous other celebrated Ferrari Formula One drivers, the featured Ferrari is undoubtedly one of the greatest, most original, and most valuable cars ever offered at public auction," says Sotheby's RM auctions.

Another Ferrari – a 250 GTO Berlinetta – sold for $38.1 million last year and holds the record. But the 290 MM's value still makes it one of the most expensive cars to come to market.

“It’s hard to know where to start when describing just how important this 290 MM is,” says Peter Wallman, Car Specialist, RM Sotheby’s. “Driven by the greatest drivers of the 1950s and built for possibly THE greatest driver in history, this is a car with which Enzo Ferrari was personally involved and is a fundamental part of Ferrari folklore. Its originality, coupled with its extraordinary provenance and history, which are truly second to none, can only lead you to conclude that it is one of the most desirable and valuable cars that will ever come to the open market.”

The car is one of only four 290 MMs to exist.