£10m Ferrari 250 TR sets auction record

A rare 1957 Ferrari 250 Testa Rossa has set a new world record as the most expensive car ever sold at auction. The price? $16,390,000, or 10,017,000 of our finest British pounds.

Sold by auctioneer Gooding & Company at the annual Pebble Beach auto week in California, the 1957 TR eclipses another 1957 Ferrari Testa Rossa that sold for £7.6 million a couple of years back in Maranello.

It's the first 250 Testa Rossa ever built and features a 3.0-litre V12 producing 300bhp. As for the condition, it's had multiple awards lavished on its restoration. So good, then.

Elsewhere in the sunshine state, RM Auction's annual Monterey sale also proved a winner, with a 1937 Mercedes 540K roadster selling for $9,680,000 (5.9m), making it the most expensive Benz sold at auction.

You'll remember this auction, because it also featured Steve McQueen's old Porsche 911. How much? Click through to find out as we round up RM's stars of Monterey...