Ferrari set to break auction records

Just days after a classic 1937 Bugatti Type 57S was sold for a cool £3m at auction, Ferrari has boldly announced 'the most significant and desirable Ferrari to be offered on the world's auction stage' - and it's set to fetch a new world record price.

Due to be held during the final leg of the Mille Miglia Race in May - so there's plenty of time to get saving - the 'Ferrari Leggenda e Passione' event will offer the iconic 1957 Ferrari 250 TR for sale in Maranello. Only 22 'pontoon-fender' 250 TRs were produced between '57 and '58, and the car had an illustrious racing career.

This particular car, chassis number 0714TR, was owned and raced by Modenese coachbuilder Piero Drogo from 1957, and stayed competitive under a number of subsequent owners until June 1963. It is, Ferrari claims, the most raced of all 22 250 TRs produced, and auctioneer RM Auctions is confident it will break the sales record - held by a 1961 Ferrari 250 GT SWB California, which sold for an astonishing £5.6m.

Max Girardo, Managing Director of RM Europe, said: "This legendary 250 TR is one of the most exciting motor cars ever to be presented in auction history. We are delighted to present this stunning 250 TR at its Maranello birthplace."

Mark Nichol