Music celebrities are often renowned for their coveted car collections. Eric Clapton famously owned a Ferrari F40, and even got the automaker to commission a one-off SP12. Sir Elton John has also amassed a collection of exotic and rare cars over the years, from Jaguars and Aston Martins, to Bentleys and Rolls-Royces. The Rocket Man may have a penchant for British cars, but when his seventh studio album The Yellow Brick Road topped the charts in 1973, he bought a 1972 Ferrari 365 GTB/4 Daytona – and now it's heading to auction.

Regarded as the fastest road car in the world at the time, Ferrari only produced 1,300 examples of the Daytona, but what makes this one even rarer is that it's one of only 158 right-hand drive examples that rolled off the assembly line. It's finished in the same Rosso Chiaro paint job with a black interior as when Sir Elton John took delivery of the supercar in 1973. The music star owned the Daytona from 1973 until 1975, before it was handed over to a member of the Ferrari Owners Club. The last private collector owned the Daytona for 16 years, garaging and maintaining it regardless of cost. Considering its age, the Ferrari Daytona offers blistering performance.

The Daytona's roaring V12 engine mated to a five-speed gearbox produces a respectable 352 hp and a 175 mph top speed. With only 81,675 miles on the clock and its celebrity connection, Silverstone Classics expects this Daytona to fetch between 525,000 and 575,000 GBP (around $700,000) when it goes under the hammer at the Silverstone Classic motoring festival at the end of this month.