Ferrari once owned by Trump fetches ‘disappointing’ $270,000
05 Apr 2017
A red 2007 Ferrari F430 once owned by Donald Trump sold for $270,000 at an auction over the weekend - a price which some reports called disappointing given that it was once the primary set of wheels for the current president, though other reports termed it a record price.
The car - with nearly 6,000 miles on the odometer, 2,400 of which were put on by the real estate mogul - was expected to fetch between $250,000 and $350,000, according to Auctions America.
The car, when new, carried a sticker price ranging from $185,000 to $215,000. At the mid-point, the car would have returned about 3.1 per cent annually - based on the weekend's sale price, not exactly a great investment, according to the New York Post.
In fact, the car left the sales block without hitting its $250,000 minimum bid. It was only announced later by the auctioneer that a mystery buyer coughed up the $270,000.
Auctions America declined to identify the buyer.
The company said the sales price was a record for a 2007 F430 with an automatic transmission. The car, a V8 with 490 horsepower in mint condition, has yellow dials and, typical of cars of that vintage, a CD changer.
Trump purchased it new and owned it for four years. A second owner was selling it.
Prices of Ferraris can vary wildly. Generally, models with automatic transmission grab higher prices. Other cars formerly owned by President Trump - like a Cadillac limousine and a Lamborghini Diablo - sold for well above the average selling price for such cars.
