Los Angeles - Rare Ferrari Spider sells for US$27.5m
Print Edition
A RARE 1967 Ferrari owned by an orphan-turned-millionaire sold at auction for US$27.5 million.
The red Ferrari was one of only 10 ever built, and its single-family ownership increased interest in the sale.
The owner, the late Eddie Smith, was a former mayor of Lexington, North Carolina. He died in 2007 at age 88. Since then, the car has been stored in a specially built garage.
“This is a bittersweet moment for us,” Eddie Smith Jr told a packed crowd before bidding began Saturday. “Ferraris came and went, but this one never went, thank God. We enjoyed it as a family for 45 years.”
The sale of the Ferrari 275 GTB/4*S NART Spider was handled by RM Auctions in Monterey. NART stands for North American Racing Team, a Ferrari-backed venture created in the late 1950s to promote the brand in the U.S.
Smith Jr advised the new owner to “drive it, love it, enjoy it, and more importantly share it with others so they can see it.” The auction house has not disclosed the new owner. The family was giving all proceeds to charities, Smith Jr said.
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