Did you know that the president of the United States, Donald Trump, once owned a red cherry, Ferrari? If not, then be informed that about a decade ago, he bought a brand new 2007 Ferrari F430 F1 Coupe. Although the buying price remains unknown, what we all know is that the car is not a cheap one! It is reported that this state-of-the-heart car was his favorite vehicle, but he did not drive it much. In fact, in 2011, after it had covered about 2,400 miles, Trump decided to sell it and passed the ownership to another person (who remains unidentified as well) at an undisclosed price.
The second unidentified owner drove the red Ferrari car since 2011. However, Saturday 1st April 2017 1730hrs marked another turning point and hand changing of the old supercar once owned by President Trump when the car appeared on the auction block in Florida. This time round, the red, F430 F1 Ferrari had covered slightly more than six thousand mileages, which is reasonably low. Despite the fact that it had been in use since 2007 and covered the said mileage, it is unbelievable that it was sold at a record price of $270,000 to the third owner.
According to the reports from the Fort Lauderdale auction block, at first, it looked like the supercar would not sell because the expected bid value was between $250,000 and 350,000. The sound system first played over revealed the highest bid was only $245,000, which was $5,000 lower than the reserve value.
Nonetheless, a few minutes after it had left the podium, the Trump’s former car was sold at a record price of $270,000. The auctioning organization, again, did not provide the details of the either new owner or the former. Experts in the field of sale-by-auction, especially those dealing with the state-of-the-motors explain that the above price is far much lower that if bidders were to buy the Ferrari directly from Donald Trump. Others urge that the polarizing’ nature of the US president could have as well brought some direct influence the sell, and even make it sell at lower than expected prices!
The supercar nonetheless did set a new record. The $270,000 selling price is arguably the highest prices ever in the history of sale by auction for a used Ferrari F430 Couple with automatic transmission. Similar car model, but with a manual transmission is deemed to sell much higher than Donald’s model. In fact, some sources claim that it can be greater than 75%.
Inherently, similar used versions (automatic transmissions) of the model but without provenance of celebrity sale between $125,000 and 175,000, of course, depending on other factors such as condition, optional equipment, mileage, and so on. The sale of Trump’s old red Ferrari clearly shows how the element of celebrity can influence the price of a product.
Finally, according to the report from the auction house, the new owner of the cherry red Ferrari received it with a copy of the original title bearing the recognizable bold signature of Donald Trump. It was indeed a record-breaking sale of an old 2007 supercar!