A rare 1956 Ferrari 290 MM scheduled to be auctioned off by RM Sotheby’s at the Petersen Automotive Museum on Dec. 8 is expected to fetch $26 million, it was reported Friday.
The 56 290 MM — so named because it was designed to compete in the then-prestigious Mille Miglia Italian road race — has an illustrious history. Rolling off the Ferrari floor as the last of four 290 MM models built that year, the car took second place at the 1956 Mille Miglia, driven by Peter Collins and Louis Klemantaski, the Los Angeles Times reported. In its subsequent racing history it was raced by legends Juan Manuel Fangio, Phil Hill, Wolfgang von Trips and Sir Stirling Moss.
“This is a competition Ferrari, with a winning history, that was driven by several famous drivers,” Ken Gross, a classic car historian and former Petersen director, told The Times. “That ticks all the boxes for desirable classic cars.”
Built at the express direction of company founder Enzo Ferrari, the body was provided by car design firm Scaglietti and the car was powered by a 3.5-liter Tipo 130 V-12 engine.
The 56 290 is rarer than the 1963 250 GTO reportedly sold last January for $70 million in a private transaction to entrepreneur and racer David MacNeil.
The auction is a coup for the Petersen, Gross said. The museum will receive a fee from Sotheby’s for the use of its facilities as well as worldwide attention from bidders, viewers and fans who will watch the auction online.
Southern California is home to some major Ferrari owners, collectors and enthusiasts.