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1956 Ferrari fetches $28M at NYC auction

NEW YORK – A 1956 Ferrari sold for $28 million at an auction that also featured top bidding for Janis Joplin’s psychedelic Porsche, a 1963 Pontiac owned by Roy Rogers decorated with silver dollars and guns and a kid-sized Ferrari.

The 1956 Ferrari 290 MM, chassis 0626 was built for Formula One racing legend Juan Manuel Fangio. The car was specially designed for the five-time F1 world champion and was one of only four 290 MMs to be built. It has never crashed despite a racing career that lasted until 1964.

The $28 million to $32 million pre-sale estimate made it one of the most valuable cars to come to auction. A Ferrari 250 GTO Berlinetta that sold for $38.1 million at Bonhams in 2014 holds the record for any car at auction.

Fangio, an Argentinian considered one of the greatest Formula One drivers of all time, raced the 3.5-liter, V-12 engine car in the 1,000-mile Mille Miglia event, finishing fourth overall in a race that wound through Italy.

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