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The second Ferrari 250 TR prototype, this car originally fitted an experimental 3.1-litre version of the Colombo V12. Fitted with a pontoon-fender body, it was raced in this guise by Olivier Gendebien and Maurice Trintignant at Le Mans in 1957. After it failed to reach the finish, the experimental engine was replaced by the 3-litre V12 that would become standard equipment in the 250 TR. Still a works car, it was raced to outright victory in the 1958 Buenes Aires 1000 km and Sebring 12 Hours by Phil Hill and Peter Collins.
Following its victories overseas, chassis 0704TR was returned to the factory where it was updated to 1958 works specification complete with a revised nose with the pontoon-fenders removed. In this guise, it was raced three more times with a second place at the Nürburgring as the best result. After Le Mans, it was sold to prominent American privateer entrant John von Neumann. He raced the car himself but also entered it for Richie Ginther, who won his class at Riverside at its first outing for Von Neumann.
Early in 1960, it was sold on to Dick Yahn, who fielded the car with considerable success in minor events for Jerry Grant. The car's final contemporary outings came in 1963, when it was campaigned by Arthur True, who won his class in minor events on accasion. Following True's death in 1967, it was donated to the Henry Ford Museum where it remained as a time-warp exhibit until 1997. At that time, it was acquired by Brazilian collector Abba Kogan.
In 2004, Kogan sold the second of two Testa Rossa prototypes to Dutch enthusiast Eric Heerema. With an eye on preserving the car's originality, he had 0704TR sympathetically restored to full running by Neil Twyman. It was then displayed and demonstrated a handful of times at Goodwood, including at the 2006 Revival Meeting where Phil Hill was honoured. Early in 2014, it was sold to the current owner for a figure close to $40 million by broker Tom Hartley, making it the most expensive car ever sold in the United Kingdom.
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