A bright red Ferrari once owned by Donald Trump sold for $270,000 at a collector car auction in Fort Lauderdale on Saturday.
Bidding on the 2007 F430 F1 Coupe ended at $240,000, below the reserve of $250,000. Soon after going off the block, however, the car sold privately for $270,000.
“While the car fell just shy of its reserve on the auction block, we can confirm that it exchanged hands just minutes after it left the podium for a final sales price of $270,000,” according to a statement from the auction firm, Auctions America, which held the auction at the Broward County Convention Center.
The initial estimated bidding range was expected to have been between $250,000 and $350,000 when the car went on the block on Saturday afternoon.
Auctions America said comparable models typically sell for substantially less.
“Similar versions of the model without the celebrity provenance traditionally bring between $125,000-$175,000 depending on mileage, condition and optional equipment,” the auction firm’s statement said.
It wasn’t disclosed who bought the vehicle. It didn’t have a lot of miles on it. When Trump sold it to its second owner — whose identity wasn’t disclosed — it had only 2,400 miles.
By the time its second owner was ready to part with it ahead of the auction, it still had less than 6,000 miles.
Trump bought the vehicle new in 2007, reads a description of the car on Auctions America’s website.
Titled as a personal vehicle, Trump owned the car until 2011, when the second owner bought it. Whoever bought it on the weekend would be the third owner.
The auction company said it was highly likely that Trump is the only U.S. president to ever own a so-called supercar, and that to see a former or current president’s personal vehicle up for sale is extremely rare.
“It’s well known that President Trump appreciates the finer things in life and this Ferrari F430 is no exception,” Auction America’s website read. “At the time of its release, it was one of the most technologically advanced performance cars on the market.”
The auction also featured other incredibly cool cars, as evidenced by these social media posts: