This weekend, a Ferrari once owned by President Trump was sold at auction at a record amount of $270,000.
A new owner:
Trump had purchased the 2007 Ferrari F430 F1 Coupe new around a decade ago.
Trump sold the luxurious car in 2011 with fewer than 2,400 miles on it, apparently he didn’t drive it that much.
On Saturday, the car was sold to a new owner at an Auctions America event in Florida. We tried to ask for the name of the new owner, but the auction house refused to disclose the buyer’s identity.
At around 5:30 pm ET, the cherry red Ferrari rolled onto the auction block as “Hail to the Chief” played loudly from the speakers in the whole auction house.
Last minute sale:
In the beginning, it seemed like the car wasn’t going to be sold. It left the auction block with a top bid of $245,000. This amount didn’t meet the reserve price, or the minimum bid required for a sale.
However, just minutes after it left the podium, the car was sold, according to Auctions America
Hagerty Insurance said that the $270,000 sale price is the most a Ferrari F430 Coupe with an automatic transmission has ever sold for at auction.
In a statement, Auctions America said “Similar versions of the model without the celebrity provenance traditionally bring between $125,000 and $175,000 depending on mileage, condition and optional equipment”
Prior to the auction, Auctions America stated that it expected the luxury car to fetch between $250,000 and $350,000.
Auctions America added that the Ferrari’s new owner will get the car with just over 6,000 miles on it. The purchase comes as well with a copy of the original title boasting Trump’s recognizable “bold signature”.