PEBBLE BEACH, Calif. (August 21, 2011) - Gooding & Company, the official auction house of the Pebble Beach Concours d'Elegance, made history last night selling the iconic 1957 Ferrari 250 Testa Rossa Prototype for an outstanding $16.39 million. Recognized the world over for its historical significance and stunning design, the auction of the Scaglietti-bodied, pontoon-fendered Prototype mesmerized thousands of people in the Pebble Beach auction room as well as around the world via Gooding & Company's live webcast and twitter conversation #2011PebbleBeachAuctions.

Energized with excitement after the Testa Rossa arrived on stage with a thunderous engine growl, the crowd cheered when Auctioneer Charlie Ross accepted the commanding first bid of $10 million. As the audience watched in amazement, both Charlie Ross and David Gooding entertained the steadily-escalating bids that soared past major benchmarks of $12 million, $13 million and $14 million. When the gavel finally dropped, there was a roar of enthusiasm confirming Gooding & Company's outstanding $16.39 million world record achievement.

Setting the tone for an outstanding start to its two-night Pebble Beach Auction, Gooding & Company's top ten final results from yesterday are as follows:

1957 Ferrari 250 Testa Rossa $16,390,000
1959 Ferrari 250 GT LWB California $3,355,000
1963 Shelby Cobra 289 Factory Team Car $2,585,000
1953 Ferrari 375 Vignale Coupe $2,200,000
1964 Porsche 904 Carrera GTS $1,210,000
1972 Ferrari 365 GTS/4 Daytona Spider $1,025,000
1956 Ferrari 275 GTB $1,001,000
1959 Fiat "Ferrari" Scuderia Factory Transporter $990,000
1956 Ferrari 195 Inter Berlinetta $990,000
1921 Bentley 3 Litre $962,500

Following the Pebble Beach Concours d'Elegance presentation today, Gooding & Company's Pebble Beach Auction continues this evening. Highlights include the sensational 1931 Whittell Coupe Duesenberg (lot 123), the Most Elegant American Classic ever created; Sheryl Crow's 1959 Mercedes Benz 190 SL Roadster (lot 107), which will be auctioned to benefit the Joplin Schools Recovery Fund; a rare, all-original 1966 Ferrari 275 GTB Alloy Long Nose (lot 113), Steve McQueen and Von Dutch's 1931 Brough Superior SS80 (lot 133) and a highly-coveted, preservation class 1957 Ferrari 410 Superamerica Series II Coupe (lot 135).