A Ferrari originally owned by Elton John is set to fetch around a quarter of a million pounds at auction on Sunday, November 30, 2014.

The Dino 246GT Coupe - in Hornets' yellow - was bought new by the former Watford FC owner-chairman for an undisclosed sum in November 1972, the month he entered the record charts with "Crocodile Rock". Six months later, on June 15, 1973, Elton "gifted" the car to his loyal drummer, Nigel Olsson.

Since then the car has had five other careful owners but has done only 29,200 miles in 42 years. Elton clocked up 5,600 miles were during the six months he owned it. Now the car is up for sale again and it is expected to fetch between £220,000 and £280,000 at Bonhams in London.

The auctioneers say it is "a rare opportunity to acquire a fully documented, low-mileage example of this iconic V6 Ferrari, possessing the additional cachet of A-List celebrity ownership".

Nigel Olsson owned the Ferrari for less than a year before selling it to a Mr Doug Hodson in May 1974. Mr Hodson kept the car for five years until May 1979, when he sold it to Mr J.J.Baynes, of Surrey. Five months later, in October 1979, Mr Baynes sold the car to a Miss V.J.Carlaw, of Glasgow. Miss Carlaw held on to it until December 1993, when she sold it to Mr R.J.Matthews, of London. Mr Matthews sold the car to its present owner - whose name has not been revealed by auctioneers Bonhams - in 2002.

At Christie’s in London, on June 5, 2001, Elton John sold 20 of his cars - including three other Ferraris - for almost £2 million. These included his 1986 Ferrari 412 Sports for £42,300; his 1987 Ferrari Testarossa for £49,350; and his 1992 Ferrari 512TR for £89,550. His 1978 Aston Martin V8 Vantage Coupe - which Elton once had re-sprayed in the yellow and black colours of his beloved Hornets - sold for £80,750.

It was comparatively inexpensive to run a Ferrari Dino, when Elton John bought the car new in 1972, because in a gallon of petrol - a gallon, not a litre - cost just 36 pence.

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