A 1956 Ferrari 290 MM built specifically for Argentinian Formula 1 driver Juan Manuel Fangio has sold for its predicted value of $28 million at RM Sotheby’s eccentric ‘Driven by Disruption’ sale in New York City.
Pre sale estimates placed the 290 MM’s worth as high as $32 million, a sum that would have made it the second most expensive car ever sold at auction. It’s now the third most expensive car ever, with a Fangio-driven Mercedes-Benz W196 in second after selling for $29.6 million in 2013 and a Ferrari 250 GTO for $38.1 million last year.
The 290 MM, chassis number 0626, is considered one of the most important cars in Ferrari’s motorsports history. Fangio raced it to a fourth place finish in the 1000-mile Mille Miglia, and it was also raced to victory in the Buenos Aires 1000 KM by Eugenio Castellotti, Luigi Musso and Masten Gregory. Despite its lengthy racing career, which lasted from 1956 through to 1964, the car has never been crashed.
Also making headlines at the Driven by Disruption auction was Janis Joplin’s Porsche 356C, which sold for $1.6 million – well above its $600,000 estimate.