One of the most beautiful cars ever made has just sold for $16.4 million (around £10 million) at a Gooding and Co auction.

The Ferrari 250 Testa Rossa prototype was involved in the Le Mans 24 hour race and when it went on auction in front of collectors and enthusiast car lovers fetched a staggering amount of cash. These cars have always generated a lot of interest, with a similar auction in 2009 raising £8 million.

A 1931 Duesenberg sold at Gooding for $10.34 million, which surpassed expectations of $7 million.

The San Francisco Chronicle report that in other auctions a Steve McQueen 1970 Porsche 911 which featured in the film ‘Le Mans' sold for $1.4 million, which is the highest amount paid for this particular model. Even Sheryl Crow's 1959 Mercedes Benz 190 SL Roadster, sold for $143,000.

Dave Kinney, a writer for Automobile magazine said that these auctions prove to be investments for collectors.

“In an era when cash returns practically less than the rate of inflation, investing in tangible assets like automobiles brings you better returns. And they give you more satisfaction.”

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