A rare Ferrari once belonging to legendary entertainer Fred Astaire is scheduled to go under the hammer on August 20 at the 2011 Pebble Beach Concours d'Elegance.

It’s one of only 35 ever built and appeared on screen with Astaire in the movie On the Beach, alongside fellow actors Gregory Peck and Ava Gardner.

It’s also been involved in professional racing, having been entered in 22 West Coast races during an intense period taking place between 1955 and 1956. Among its drivers were famed Porsche importer John von Neumann, as well as Formula 1 World Champion Phil Hill.

With such a storied history, it’s no surprise that the car is expected to fetch around $3.5 million at auction. Handling the sale is RM Auctions, which has the complete documents for its two-year restoration as well as an authenticity certificate from Ferrari authority Brooke Betz.

1955 Ferrari 750 Monza Spider

1955 Ferrari 750 Monza Spider

The car’s chassis number is 0492M and under its hood is a 3.0-liter found-cylinder engine rated at 260 horsepower and matched to a five-speed manual transmission.

The MotorAuthority team will be on hand at this month’s Pebble Beach event to bring you all the latest happenings. In the meantime, follow our complete coverage of the event by clicking here.