Someone just bought Donald Trump's old Ferrari F430 F1 Coupe at a price lower than expected - The Financial Express

Someone just bought Donald Trump’s old Ferrari F430 F1 Coupe at a price lower than expected

At first, the car struggled to sell as it failed to meet its reserve with bidding stopping below the low estimate. The car had been expected to reach near US$350,000

By: | Updated: April 3, 2017 1:23 PM
Image: CNN Money

A 2007 Ferrari F430 F1 Coupe, once owned by US President Donald Trump, was sold at an auction this weekend for $270,000, according to a report in CNN Money. The catch here is that while the auction house expected it to sell for a good amount, at first it didn't seem like the car would even sell. Turns out, not many were eager to get their hands on a Ferrari that had Trump in its history. The auction house in Florida struggled to sell the car as it failed to meet its reserve with bidding stopping at US$240,000 which was US$10,000 below the low estimate. The car had been expected to reach near US$350,000.

Trump bought the F430 about a decade ago. He didn't drive it much either, and sold it out with less than 3900 km on its tripmetre. The sale was made at an Auctions America event in Florida on Saturday. The aution house has not named the buyer, nor the seller. The cherry red Ferrari rolled onto the auction platform and sold within minutes it left the podium.

In terms of the car though, $270,000 is the most a Ferrari F430 Coupe with an automatic transmission has ever sold for at auction. A car like this, without a celebrity background, on an average fetches between $125,000 and $175,000.

The new owner will receive the car with that now has less than 9700 km on it, and a bonus will be a copy of the original title carrying Trump's signature.

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