Investment in classic cars seems to be paying off even more these days. This can be seen from yet more records set during the sale of some of the most sought-after road and race cars on the planet. The latest is the sale of a Ferrari 250 Testa Rossa, one raced by Brit Peter Collins and American Formula One champion Phil Hill, which recently traded hands for a staggering 28.99 million euros (approximately $39.55 million).
This makes it seem like a bargain compared to the most expensive car ever sold, a Ferrari 250 GTO that sold last year for $52 million, but it still shows that there’s an incredible mania present in the world of classic cars. Some collectors are pulling out while the market’s still hot, however. Dutch collector Eric Heerema is the seller of this latest 250 Testa Rossa and in 2012 he also sold a 250 GTO for $35 million.

The 250 Testa Rossa Heerema just sold is the example bearing chassis number 0704, which made its race debut at the 1957 24 Hours of Le Mans, although it failed to finish. Later, Collins and Hill would drive it in the Buenos Aires 1000 Kilometres and the Sebring 12 Hours.

Once its life as an official Scuderia car came to an end, it was acquired by an American who used it successfully in other races, before donating it in 1967 to the Henry Ford Museum in Dearborn, Michigan where it sat for 30 years before being sold.