''The ultra-rich remain ultra-rich,'' Swiss-based Ferrari historian Marcel Massini told the Sydney Morning Herald. ''The very, very best sells easily and incredibly high.''
The bright red, Ferrari 250 Testa Rossa, which competed in the Le Mans 24-hour race, won first place in the 2006 Concours d'Elegance, where classic cars are judged based on their looks and condition.
The previous record for a car sold at auction was the $12 million sale of another 1957 Testa Rossa in Maranello, Italy in 2009. The price paid on Saturday includes a 10 percent fee for auctioneers.
SEE: NBC Bay Area
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