Rare 1957 Ferrari 250 Testa Rossa (TR) is expected to fetch over 11 million US dollars.

Who ever said blonds have more fun? Some people prefer redheads. And in the automotive world there's no bigger prize than the legendary Testa Rossa.

A 1957 Ferrari 250 Testa Rossa (TR) is set to go to auction later this year and is expected to fetch a record setting selling price for an automobile.

The auction will be conducted by RM Auctions, working in association with Sotheby's, at RM's ‘Ferrari Leggenda e Passione' event at the Mille Miglia retrospective, an annual event honoring the legendary thousand mile rally race that took place in Italy until 1957.

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Last year, RM Auctions sold a 1961 Ferrari 250 GT SWB California Spyder for $10,894,400 US dollars (or €7,040,000/£5,598,208). This 1957 Ferrari 250 Testa Rossa is expected to beat that.

Why such a high price? Well, as always, it's the rarity factor. This 'pontoon-fender' 250 TR is a Scaglietti design and only 22 were ever made between 1957 and 1958. In subsequent years, several 250 TR's competed in international championships racking up 10 victories in 19 races and earning the car legendary status.

The 'Ferrari Leggenda e Passione' event takes place May 17, 2009 in Maranello, Italy.

More details are available in the press release about the history of this 250 TR (chassis no. 0714TR).