RM Auctions, in association with Sotheby's, will present one of the most historically significant and valuable Ferrari racing cars ever offered at auction, the legendary 1957 Ferrari 250 TR (chassis no. 0714TR), when the famed Ferrari Leggenda e Passione event returns to Maranello, May 17, 2009. Held during the final stretch of the famous Mille Miglia retrospective, the exclusive annual event will offer an unprecedented collection of historic Ferraris for auction.

Considered one of the most alluring, competitive and iconic of all Ferrari racing cars, the beautiful and immediately recognizable Scaglietti-designed, ‘pontoon-fender' 250 TR was produced from 1957 to 1958 during which only 22 were constructed. The Ferrari 250 TRs entered 19 international championship races from 1958 through 1961 emerging with 10 victories and earning them legendary status among discerning collectors, as well as the honor of being one of the most desirable and competitive racing Ferraris ever built.

"This legendary 250 TR is one of the most exciting motor cars ever to be presented in auction history," said Max Girardo, Managing Director of RM Europe.

"The Ferrari Leggenda e Passione event, now in its third year, is firmly established as the place to sell important road and race going Ferraris, and we are delighted to present this stunning 250 TR at its Maranello birthplace," he added.

0714TR was extensively campaigned in its day with significant finishes at the world's most important racing events and is now being offered at auction for the first time. The car is resplendent in its period race-correct black livery and red nose.

In December 1957, this car was delivered to its first owner, racing driver and future coachbuilder, Piero Drogo in Modena, Italy. Drogo debuted the car as a privateer in the celebrated 1000 km Buenos Aires in January 1958 with a respectable fourth place finish competing with such legendary drivers as Phil Hill, Peter Collins, Wolfgang von Trips and Olivier Gendebien. Following entries in the Grand Prix of Cuba and Portugal, the car was sold by American Ferrari agent Luigi Chinetti to Texas rancher and entrepreneur Alan Connell whose competitive driving skills and affluence afforded him several wins on the 1959 North American racing circuit. 0714TR continued its prowess on the track with subsequent owners and competed in its last professional race in June 1963 at the Elkhart Lake 500.

The Ferrari 250 TR has become an enduring and exceedingly valuable classic whose soaring lines and sculptural elegance give it a sense of speed even when standing still. The legendary s/n 0714TR is by far the most campaigned of the 250TR cliente series cars with a fascinating ownership and racing history, establishing its rarified place in the collector world as one of the most beautiful and valuable Ferraris ever offered in auction history.

All cars presented at the Ferrari Leggenda e Passione event will be certified by Ferrari Classiche.

*Note to Editors: The current world record for the most expensive vintage motor car ever to be sold at auction is held by RM Auctions, in association with Sotheby's, for a 1961 Ferrari 250 GT SWB California Spyder (s/n 2377GT) which sold for $10,894,400 USD (€7,040,000, £5,598,208 GBP). This current world record was set at Ferrari Leggenda e Passione, in Maranello, Italy on May 18, 2008.

About RM Auctions, Inc.
Celebrating 30 years in the collector car industry, RM Auctions and its associated companies are responsible for acquisitions, restorations and sales of the world's rarest and most valuable vintage automobiles, including record-breaking sales in Maranello, Italy and London, England. RM's restoration division has achieved unprecedented accolades earning "Best of Show" honors at the world's top Concours events. For further information, visit www.rmauctions.com

Ferrari has set a new world record for a car sold at auction with a 1957 Ferrari 250 Testarossa fetching €9 million at the weekend (17 May 2009) in an auction of Italian supercars organized by RM Auctions at Ferrari’s Maranello home in Italy.

The previous world record for a car sold at auction was just last year and was also set by a Ferrari, when UK radio host Chris Evans paid €7 million for a black 1961 Ferrari 250 GT SWB California previously owned by James Coburn. Both cars were sold at the “Ferrari Leggenda e Passione”, an annual auction of the finest Ferrari and Maserati supercars organized by RM Auctions and held at Ferrari’s test track, Fiorano, in Maranello.

Unlike last year, this year’s top bidder was not at the auction, remaining anonymous and bidding over the telephone while competing against three other bidders.

The 1957 Ferrari 250 Testarossa, one of just 22 similar models built at Maranello, boasts an important race history in North and South America. It debuted in the Buenos Aires 1,000km in 1958 and came 4th overall before being sold to a U.S. client who raced it extensively in the SCCA championship.

Although its bids reached a level higher than last year’s record setter at €7.25 million, a rare Ferrari 330 P4 was passed in at the event.