Item: 1957 Ferrari 250 Testa Rossa
Winning Bid: $12.2 million
There are only 21 other cars like it, but none of them are quite so expensive. While the 1957 Testa Rossas won 10 of the 19 international races that they entered from 1958 and 1961, this particular vehicle never finished better than fourth. No matter; the car's finest quality is not its speed but its beauty. With a body made by famed Italian automobile designer Sergio Scaglietti, the Testa Rossa boasts pontoon fenders and is said to have been one of Scaglietti's favorites. The record-breaking Ferrari auction, organized by RM Auctions and Sotheby's, in May 2009 proved that at least one luxury item has survived the recession.