Rarity, quality, and demand (not necessarily age) create value in the collector marketplace. The 1957 Ferrari 250 Testa Rossa, a successful race car, has always been expensive, but bidders in Italy were amazed when one sold last month for a world record $12.1 million. Only 22 of the models were made. The price topped the previous Ferrari record of $10.9 million, set last year for a 1961 250 GT SWB California Spider.
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