Ferrari 290 MM was Sold for Over $22 Million

Seeing Red

Designed and raced in the mid-1950s, the Ferrari 290 MM is a beautiful example of an early model racing car. It featured a 3,500cc V12 that pushed out a staggering 320 horsepower at 7,200rpm and was mounted in the front, as opposed to Ferrari's traditional mid-engine layout. Compression was set at 9:1 with a single overhead cam that opened two valves in each cylinder. Triple Weber carburetors allow the Italian stunner to breathe before air and fuel are ignited by a twin spark plug setup. You may also be surprised to know this engine was dry sump to allow for better oiling of mechanical components—something manufacturers today brag about on their road cars. 

Images courtesy of RM Sotheby's

Beauty by Design

Sitting atop the tubular steel chassis is hand-made bodywork that would make anyone with the cash to spare fall in love. It’s all very Ferrari—something that is evident the moment you see the striking red paint. Underneath, the car is very advanced for its time, with independent suspension up front and leaf springs in the rear. Weight comes in at just under 2,000 lbs, which makes this car seriously quick even by today’s standards. Putting the power down must have been hilariously terrifying as the tire size was small, not to mention that rubber compound in 1956 was anything but desirable. 

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Thousand Miles

When it came to racing in this era, there was one event that stood head and shoulders above the rest: The Mille Miglia. Held on public roads that were not shut down, the race covered some of the most challenging tarmac terrains of the time. The Isle of Man is the closest thing you can compare it to. That's a testament to how well this 290 MM would have been built to not break down in a time period where reliability was an afterthought. the 2 Ms are a reference to the event itself and add to the allure of this car, as any Ferrari with race history immediately skyrockets in value. 

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Actual Sale Price

$22,000,000 is an insane amount of money to pay for a car, but when you look at the history of Ferrari, the mystique of the Mille Miglia, and the actual machine itself, you can begin to understand how the price is justified. Phil Hill and Juan Manuel Fangio all drove this car, and because there are only 4 in existence, it makes them one of the rarest of all the red horses. Aside from that, the 290 MM actually won the race, which makes this particular car, (Fangio's race car) that much more coveted. RM Sotheby’s held the auction to ensure authenticity and all numbers were matching. This is one auction house that doesn’t play around when it comes to moving big-ticket items. 

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Jaw Dropper

The simple fact this car has been preserved in this condition after over 60 years is astonishing. A good amount of the value in older cars like this lays in the fact that they are pieces of history that still fire up at the first turn of the key. Created in a time when racing was dangerous, the circuits were even crazier and the drivers displayed tremendous courage every time they drove, the Ferrari 290 MM is a certified jaw-dropper that some lucky individual can now call their own. It’s just another example of how valuable certain vehicles are in automotive history. If you wish you had $22 million to buy this car, get in line—this is one of the best Ferraris around.