Scaglietti’s first Ferrari 250 GT SWB California Spider sold for a cool $17.055 million at an auction in Monterey. In terms of the value of classic Ferraris, this car certainly ranks among the most expensive Ferraris ever sold.

Of all the Ferrari models, the 250 series is known for being a distinct icon, bringing a “fresh breeze” to the Italian supercar brand. The car enjoyed great racing success throughout the 1950s, and California importer John von Neumann proposed the idea of Ferrari building a convertible version that could race and still be used as a daily driver. Not long after, Ferrari introduced the 250 GT LWB California Spider, of which only 50 were produced.

Ferrari then decided to build a second California Spider on a shorter 2,400mm wheelbase platform. Only 56 were built to date, and this particular car, chassis #1795 GT, is the first.

RM Sotheby’s also said the car was a Ferrari show car at the Geneva Motor Show in March 1960 before being returned to the factory, fitted with a black interior and delivered to its original owner. The sports car was driven on several famous racetracks, including the Nurburgring, before being sold and exported to the United States.

The prized car then passed through a number of other owners over the following decades, including a senior executive at Phillip Morris, before being added to the seller’s collection most recently in 2008.

It’s not just the fact that this is the first Ferrari 250 GT SWB California Spider that makes it special. It’s also one of just three to be fitted with a more advanced version of Ferrari’s famous Tipo 168 V12 engine. It also features the original glass-enclosed headlights and hardtop. The car also comes with a Ferrari Classiche certificate to verify that it has the original engine, gearbox and drivetrain.