Most Expensive Cars - 2007

1. 1962 Ferrari 330 TRI/LM

    Sold for: $9.3 million

    By: RM Auctions

    When: May 20, 2007

    Where: Maranello, Italy

This well-traveled V12 race car was the 1962 Le Mans winner, driven by the legendary Phil Hill and the late Olivier Gendebien. It raced on other circuits like Bridgehampton and Sebring, and crashed at Le Mans in 1963. Believe it or not, it was a daily driver in New York City from 1965 to 1974, according to RM Auctions. Sports Cars Market called it "one of most important Ferraris ever to cross the auction block." Ironically, it was offered for $8 million in 2005 and didn't sell.

2. 1953 Ferrari 340/375 MM

    Sold for: $5.7 million

    By: RM Auctions

   When: May 20, 2007

   Where: Maranello, Italy

This Ferrari racer is about as rare as they get. It is one of only two surviving models of its exact type, out of only three ever built, according to RM Auctions. It is restored to look as it did when it was driven in the Carrera Panamericana road race in Mexico. In May, it fetched $1.5 million above the highest pre-auction estimated price, thanks to what Sports Car Marketcalled "potent provenance, rarity, 5-liter V12 power, stunning on-the-button condition, and great beauty."

3. 1966 Shelby Cobra

    Sold for: $5.5 million

    By: Barrett-Jackson

    When: Jan. 18, 2007

    Where: Scottsdale, Ariz.

This Shelby Cobra has a supercharged V8 that produces 800 hp, according to Barrett-Jackson. It was originally configured as a competition car, and then retrofitted as a street-legal car. At one point it was used by Carroll Shelby himself, according to the auction house.Sports Car Market said Bill Cosby once owned a similar car, in which a later owner was killed. Sports Car Market called the sale "a crazy price for a crazy car."

4. 1959 Ferrari 250 GT

    Sold for: $4,950,000

    By: RM Auctions

   When: Aug. 17, 2007

   Where: Monterey, Calif.

A racing history makes this car more valuable than comparable models and more likely to appreciate in value. This car was raced at Le Mans by the late American driver and automotive artist Bob Grossman. Sports Car Market called this car "well bought," even though it was close to $500,000 more than a car with no race history. "It's difficult to call anything well bought at $5 million," the editors said.

5. 1931 Bentley 4_-Liter

    Sold for: $4,510,000

    By: Gooding & Co.

    When: Aug. 18, 2007

    Where: Pebble Beach, Calif.

This rare find is one out of only 43 remaining examples, out of 50 units of the so-called "Green Hornet," according to Gooding & Co. It sold for just over $4.5 million last summer, despite what Sports Car Market described as a "leaky engine, ripped seat, faded paint, and ratty top." However, such authentic touches in a rare model make it even more desirable than inauthentic restoration.

6. 1959 Ferrari 250 GT

    Sold for: $4,455,000

    By: Gooding & Co.

    When: Aug. 18, 2007

    Where: Pebble Beach, Calif.

Thanks to a three-year restoration, this black-on-black V12 Ferrari is "perfect" in just about every respect, except it lacks a racing history. According to Sports Car Market, an otherwise similar car with a racing background fetched about $500,000 more. Even so, at well over $4 million, it cost double what other less-perfect examples cost. "But there's the best and there's the rest, and nobody ever complains that they paid too much for a perfect car," the editors said

7. 1970 Ferrari 512S

    Sold for: $3,564,000

    By: RM Auctions

    When: May 20, 2007

    Where: Maranello, Italy

This Ferrari race car is one of only four like it, according to RM Auctions. The car has an extensive racing history, including races at Le Mans and the 24 Hours of Daytona. Sports Car Market said the car was "cosmetically disappointing close-up," but its racing history justified the price. "Well bought, as it'll cost even more next time," the editors said.

8. 1966 Ferrari 206 SP Dino

    Sold for: $3,267,000

    By: RM Auctions

    When: May 20, 2007

    Where: Maranello, Italy

9. 1953 Ferrari 340 MM

    Sold for: $3,118,500

    By: RM Auctions

    When: May 20, 2007

    Where: Maranello, Italy

Owning this 1953 Ferrari represents "a first-class entry ticket to all the major events, including the Mille Miglia, where this car's extraordinary story started," Sports Car Marketsaid. For some owners, that alone could be enough to justify the cost. The original Mille Miglia—Italian for "1,000 Miles"—was a road race held from 1927 to 1957, when it was banned after a fatal crash that killed several spectators. It was revived in its present form in 1977, as a road-rally event for historical cars at lower speeds. It is also one of the top high-society events of the year for vintage race car owners. The same crowd tends to own a lot of boats, horses, homes, and airplanes, too. This particular car is one of 10 of its type. Its racing history includes a fatal accident, according to Sports Car Market.

10. 1912 Rolls-Royce Silver Ghost Double Pullman

      Sold for: $2,970,000

      By: Gooding & Co.

     When: Aug. 18, 2007

     Where: Pebble Beach, Calif

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