A 10-year-old bright red Ferrari that was owned by Donald Trump went on the auction block in Florida on Saturday and sold for $270,000, auctioneers said.
Bidding for the 2007 Ferrari F430 F1 Coupe was expected to be between $250,000 and $350,000, Bloomberg reported.
On the Fort Lauderdale auction block, at which ‘Hail to the Chief’ played over a sound system, the highest bid was $245,000 – $5,000 below the reserve price.
But ‘just minutes after it left the podium,’ the vehicle sold for $270,000, said Auctions America, CNN Money reported.
The organization did not provide details of who purchased, or who sold, the car.
‘Similar versions of the model without the celebrity provenance traditionally bring between $125,000 – $175,000 depending on mileage, condition and optional equipment,’ said Auctions America spokeswoman Amy Christie.
The vehicle was owned by Donald Trump from 2007 to 2011. He drove the car for 2,400 miles.
The second unidentified owner, who auctioned the car off this weekend, brought the mileage up to a still-low 6,000.
Hagerty Insurance spokesman Jonathan Klinger told Bloomberg: ‘The appeal is slightly lower than if [bidders] were buying the car directly from Trump.’
He added that the president’s ‘polarizing’ nature could have also affected the lower-than-expected sell.
The vehicle nonetheless did set a record – it was the highest price for an F430 Couple with an automatic transmission.
Models with a manual transmission can sell for up to 75 percent more than the Trump model, according to Hagerty Insurance.
The successful bidder, in addition to the car, will receive the original title with Trump’s ‘bold signature.’
Join GhanaStar.com to receive daily email alerts of breaking news in Ghana. GhanaStar.com is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond.