Juan Manuel Fangio's 1956 Ferrari 290MM Sold For $28 Million At Auction

A Ferrari 290MM raced by F1 legend Juan Manuel Fangio at the 1956 Mille Miglia was sold for the staggering sum of $28 million at RM Sotheby's "Driven by Disruption" auction in New York City.

The Ferrari 290MM in question is chassis number 0626 and is powered by a which pushes out 320bhp. Other features of the engine includetriple Weber twin-choke 46 DCF3 carburetors and twin spark-plug ignition with quad Magneti-Marelli distributors.

All of the 320bhp of power was sent to the rear wheels by a four-speed manual transmission. The car featured independent front suspension with helical springs and anti-roll bar, a De Dion rear axle with transverse leaf spring, and hydraulic drum brakes on all four wheels.

Fangio used this car to run in the 1956 edition of the Mille Miglia where he came in fourth at the end of the gruelling 1,000 mile (1609 kilometers) race.

The 290MM was sold in 1957 to Temple Buell in New York by Luigi Chinetti. Buell, who was a close friend of Enzo Ferrari, repainted the car in blue and white. After changing hands a few more times, the car was repainted red, and in 1970 was acquired by car collector extraordinaire Pierre Bardion.