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1956 Ferrari 290 MM Raced by Juan Manuel Fangio to Cross Auction Block

Expect records to be broken.

It's no secret that some the most valuable and desirable vehicles in existence are classic Ferraris. After a 1962 Ferrari 250 GTO became the most expensive car ever sold at auction last year by selling for $38 million, another one-of-a-kind, historically important Ferrari has a chance of approaching that number when it hits the auction block later this year.

Up for sale is a 1956 Ferrari 290 MM raced by legendary racer and four-time Formula One World Champion Juan Manuel Fangio. The Ferrari 290 MM was one of four cars created to run at the 1956 Mille Miglia, where Fangio finished fourth, singlehandedly driving all 1,000 miles. The car was adorned in unique Argentinian livery, a nod to Fangio's origin. For the Mille Miglia, the 290 MM was designed with an all-new 3.5-liter V-12 engine, providing enough durability and reliability to conquer the 1957 Buenos Aires 1000 KM race as well.

This 290 MM, with chassis number 0626, was also one of the first Ferraris piloted by Formula One World Champion Phil Hill, who raced the car alongside a number of other Formula One drivers.

While chassis 0626 was raced extensively during its history, the car fortunately retains its original chassis, engine, transmission, and body. The car is eligible to run in a long list of events, including its own 60th anniversary at the Mille Miglia next year. No public estimate was given for this important Ferrari, but it is safe to imagine this could bring in some big numbers.

Also up for sale at the same auction is a 1955 Ferrari 500 Mondial in French Blu paint. Under the original body lies a Lampredi four-cylinder engine, one of the few four-cylinder Ferraris ever produced. Estimates put the car at a sale price between $5,000,000 and $7,000,000.

Both Ferraris cross the auction block in December at the RM Sotheby's "Driven By Disruption" sale in New York.