Sotheby’s Is Revved Up to Auction This 1956 Ferrari for $32M

Ferrari, Aston Martin and Mercedes-Benz - these are just a few of the iconic cars that will be auctioned off this week at Sotheby's (BID). The auction's most expensive piece is a 1956 Ferrari 290 MM racing car that could fetch up to $32 million. 'The 1956 Ferrari 290MM is one of the most important sports racing cars in the world,' said Alain Squindo, vice president at RM Sotheby's. 'It was raced by some of the greatest names in sports racing of that period.' While $32 million wouldn't be a record breaking price for a Ferrari, it's the most expensive car Sotheby's has ever offered. It amounts to about 650,000 shares of Ferrari stock. The legendary automaker went public back in October under the ticker symbol RACE. The more affordable lots in the auction include a 1962 Aston Martin for $17 million. But it's not just classic cars in this auction. Rounding out the row of supercars is a 2003 Ferrari Enzo with a $3.5 million dollar price tag and only 560 miles on its odometer. The car was formerly owned by famed boxer Floyd Mayweather. TheStreet's Scott Gamm reports from Sotheby's in New York.