The 1957 prototype of the Ferrari 250 Testa Rossa won high-profile races and competed twice at 24 Hours of Le Mans, the oldest active car race in the world.
It has now been sold to a so-far anonymous enthusiast - and the price is understood to be three times what was paid for a Testa Rossa in 2009.
Just popping to the shops: This Ferrari 250
Testa Rossa has sold for an estimated £24 million, smashing the British
record. It was raced by Formula 1 world champion Phil Hill and competed
at the world's oldest car race
Mid-life crisis? The car features leather seating, an original steering wheel and only reasonable wear and tear
Hailed by an expert as one of the five best Ferraris in the world, the model was also raced by the Formula 1 world champion Phil Hill.
It was previously owned by the millionaire investor Eric Heerema until he was persuaded to sell it to Derbyshire dealer Tom Hartley Jr.
Mr Hartley revealed he has now sold the Ferrari, but wouldn’t confirm the exact selling price.
However, well-placed sources said the anonymous buyer paid in excess of £24.1 million - making it the most expensive car ever sold publicly.
The highest was previously the £22.5 million paid in 2012 for a Ferrari 250 GTO, also owned by Mr Heerema.
The Testa Rossa achieved the record figure because of its looks, racing pedigree, rarity and the fact is in 'unmolested' - completely original - condition.
Another Testa Rossa was sold in 2011 at a U.S. auction for £10 million ($16.4 million), but they were both far inferior examples to the latest model.
The specialist dealer, who sold his first supercar at the age of 11, said: 'I can confirm that the car has sold, although due to client confidentiality we will not disclose the buyer or the price achieved.
'This Ferrari is without question one of the most important cars on the planet if not the most important because of its originality.
'While I won’t go into the terms of the sale, I am sure it will prove to be a great investment for the new owner.
Legendary: Chassis 0704 remained a favourite of Ferrari designer Sergio Scaglietti until his death aged 91
'Now it is done, my only disappointment is the fact I don’t think it can ever be bettered as I truly think it is the greatest car in the world.'
The model sold was the second prototype and factory team car for two seasons with Ferrari, when then made a further 19 customer cars.
Top spec: The V12 engine helps the car achieve 0-60 in about six seconds, spellbinding for its day
Known as Chassis 0704, it was designed by legendary Ferrari pioneer Sergio Scaglietti and was one of his favourite models up until his death aged 91.
At the 1957 Le Mans race the prototype ran as high as second position but did not finish the race. The next year, however, Chassis 0704 picked up two wins - in the 1,000km Buenos Aires and 12 Hour Sebring races - with Formula 1 legends Phil Hill and Peter Collins behind the wheel in both.
It was later sold to a U.S. customer and was driven to victory in 16 races on the other side of the Atlantic.
In 1967 the car was donated to the Henry Ford Museum in Dearborn, Michigan, where it stayed for 30 years.
Ferrari historian Marcel Massini described the prototype as 'one of the top five Ferraris on the planet'.
He added: 'It is so valuable because it is totally unmolested and not restored, genuine and very original. It also comes with a fantastic history which is most important.
'I believe the Ferrari market will continue to go up as more and more wealthy people need to reinvest their cash but there are not many more top quality cars available.
'It’s simple supply and demand. Classic cars as hard assets are just one of several asset classes nowadays.'
The HAGI index, which tracks the market, estimates the classic Ferrari market has increased fourfold over the past decade.
This has seen savvy investors and car collectors ploughing their cash into the classic market which is seen by some as safer and more profitable than stocks and shares - not to mention more fun.
Relic: In 1967 it was donated to the Henry Ford Museum in Dearborn, Michigan, where it stayed for 30 years
Mystery: So far the car's owner is anonymous, though that is unlikely to last if it gets driven around town
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