Steve McQueen`s 8 million pounds Ferrari to go to auction

London: A Ferrari owned by actor Steve McQueen will go under the hammer this summer and could fetch an astonishing 8 million pounds.

The King of Cool took delivery of the 1967 Ferrari 275 GTB/4 on the set of the film `Bullitt`, reportedly. He had it resprayed from silver to red and fitted the wheels from his Ferrari Nart Spyder, which he had crashed. The `Great Escape` star kept the 165 miles per hour car until 1971, when he sold it to fellow actor Guy Williams.

It was later transformed from a coupe to a convertible. But current owner Vern Schuppan, an Australian-born Le Mans winner who spends a lot of time in the UK, decided to spend a six-figure sum restoring it.

He is now selling it at auction in Monterey, California, in August. Max Girado, of RM Auctions, declined to give an estimate but said, "When it comes to cars with celebrity provenance, it doesn`t get any better than this."

The car would normally cost about 1.5 million pounds but experts say it could fetch up to 8 million pounds.