Sold: The $27 million Ferrari
A RARE 1967 Ferrari owned by an orphan-tued-millionaire has sold at auction for $27.5 million.
The red Ferrari was one of only 10 ever built, and its single-family ownership increased interest in the sale, the Los Angeles Times reported.
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 N.A.R.T. Spider was handled by RM Auctions in Monterey. N.A.R.T. stands for North American Racing Team, a Ferrari-backed venture created in the late 1950s to promote the brand in the US
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