The stunning 250 GT SWB Berlinetta Competizione is one of just 74 models built by the Italian car maker.
It's three-litre V12 engine gives a 0-60mph time of less than six seconds.
A similar model sold in 2011 for over 3.1 million pounds. The classic Ferrari market has skyrocketed over the past 18 months, The Sun reported.
The 250 GT was the 17th model in the series to roll off the production line in 1960 and has had just four owners over the past 52 years.
US auctioneer Shelby Myers said: "There is nothing that trumps the magnificent style, drivability, and sound of the 250 SWB Berlinetta.
"Ultra-exclusive, it is certainly one of the most desirable Ferraris ever produced. Rarely do such important cars come to public market," Myers said.