This Ultra-Rare Ferrari 250 Testa Rossa Just Sold For A Bonkers Price
Examples of Enzo Ferrari’s first “red head” are skyrocketing in value.
For all the hype and value speculation stirred by news of covetable Ferraris headed to auction, this 1957 250 Testa Rossa didn’t need a shred of coverage to fetch a “considerable” figure in a private sale facilitated by Gooding & Company.
The classic car dealer announced the news, adding that this example is the only extant example of its type that exists in a completely unrestored state. From 1957 to 1961, Ferrari purpose-built multiple Testa Rossa variants—including the 500 TRC featured in Michael Mann’s Adam Driver-led Ferrari —to win the FIA World Sportscar Championship and the series’ famed 24 Hours of Le Mans.
Most of the early examples featured a pontoon-style body, a four-speed gearbox, four-wheel drum brakes, and a live rear axle. The one here, chassis No. 0704 TR, was one of three that was reshelled with Scaglietti’s more desirable envelope-style body.
The new shape made Enzo Ferrari’s first “red head” (the translation of “Testa Rossa”) even more alluring, but like so many other of its kin, this 250 Testa Rossa was also a dominant endurance racer. It won the 1958 12 Hours of Sebring and Buenos Aires 1000 KM and participated in the 1957 and 1958 24 Hours of Le Mans, the 1958 Targa Florio, and the 1958 Nürburgring 1000 KM.
After a life of competing, it lived in the Henry Ford Museum Collection from 1967 to 1997. Chassis No. 0704 TR was more recently displayed at the Pebble Beach Concours d’Elegance in 2014, when it received numerous awards.
“The historical significance of 0704 TR cannot be emphasized enough, especially as it is the sole surviving unrestored Ferrari 250 Testa Rossa in existence,” said Gooding & Company resident and co-founder David Gooding.
“The private sale of this Testa Rossa is among the most important transactions of any classic Ferrari to take place in recent years, and we’re proud to have played a key role in this exchange. From its incredible competition history to its remarkably well-preserved, unrestored condition, 0704 TR is one of a small handful of cars surviving in nearly untouched status, evoking the golden era of Ferrari’s racing empire.”
While no price was announced, some educated guesses can be made. Hagerty notes that the Ferrari 250 Testa Rossa’s values have skyrocketed recently, with current values from fair to concours condition ranging from $27 million to $ 46 million. Jalopnik also points out that another 1957 sold for $40 million in 2014. With that in mind, the buyer almost certainly paid between $20 and $40 million for chassis No. 0704 TR.
If you’re interested in other classic Prancing Horse valuations, check out this article on how much the Ferrari Ferraris are actually worth.