Fangio's Ferrari sold for $28 million at an auction

A 1956 Ferrari 290 MM was sold for a staggering price tag of $28 million (Rs 187 crore) at a RM Sotheby auction on Thursday, making it one of the most expensive cars in the world.

Only four Ferrari 290 MM cars were ever built, with this particular chassis, 0626, specially designed for five-time Formula 1 world champion, Juan Manuel Fangio. The Argentine finished a respectable fourth in the 1,000-mile Mille Miglia event in 1956, driving this 3.5-litre, V12 engine-powered race car.

The following year, Eugenio Castellotti, Luigi Musso and Masten Gregory drove the 290 MM to victory in the Buenos Aires 1,000 km race.

The car continued to brace race tracks around the world after it was bought by collector Temple Buel. It was later acquired by Pierre Bardinon, who displayed the iconic car at the renowned Mas du Clos Collection in France for 34 years, before selling it to someone identified as a private European collector.

Last year, a 1962 Ferrari 250 GTO Berlinetta became the most valuable car in history to be sold at an auction when it realized $38,115,000 at the Bonhams’ Quail Lodge Auction in Carmel, California.