The 625 TRC Spider was one of three Ferraris that made up the top lots at the auction, which took place at the French principality’s Grimaldi Forum ahead of the up-coming Monaco Grand Prix.
Boasting a V-12 engine, the Spider had been purchased new in 1957 by the Ferrari dealer and racer John van Neumann. The car was restored in the 1980s, after losing its original engine.
In total the auction featured 94 cars – including 22 Ferraris – reaping $41.5 million in sales. Among the other classic Ferraris sold was a Ferrari 206 S Dino Spyder (1966) and a 225 Sport Spyder "Tuboscocca" (1952).
A Timossi-Ferrari "Arno XI" hydroplane, which set a world speed record in 1953 that still stands today,sold for $1.1 million, a record for a Hydroplane sold at auction.
The Monaco sale was held by RM Auctions, widely considered to be the world’s largest collector car auction house