Tags: 1967 | ferrari | auctioned | record | 27.5m
Image: 1967 Ferrari Auctioned: Rare NART Spyder Brings in Record $27.5M

1967 Ferrari Auctioned: Rare NART Spyder Brings in Record $27.5M

By Morgan Chilson   |   Monday, 19 Aug 2013 03:07 PM

An extremely rare 1967 Spyder Ferrari – one of only 10 like it in the world – was auctioned off this weekend for a record-breaking $27.5 million.

The auction opened at $10 million but quickly shot into record territory, with the Monterey, Calif., audience cheering the final price.

It was a beauty of a car — a shiny red convertible Ferrari 275 NART Spyder that had been owned by just one family since the North Carolina Smiths bought it in 1968, the Los Angeles Times said.

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Although many media outlets didn’t identify the buyer, The Province reported that Canadian billionaire Lawrence Stroll bought it. He was identified by the publication as a “fashion entrepreneur” who worked with Tommy Hilfiger.

Eddie Smith Jr. said his father bought the car and the family “enjoyed it” for 45 years. Smith also announced that the auction amount paid for the car would be donated to charity, which drew even more cheers from the audience, the Times said.

Smith Sr. started a mail-order company and was a “beloved figure” in Lexington, N.C., The Dispatch said in an article published before the auction and which predicted the selling price to be about $14 million. He served as mayor in the 1970s for five years and also worked on many local boards and with organizations.

“It has been in prison in that garage,” Smith told The Dispatch. “Dad wouldn’t want the car to be shut away, he would want it to be enjoyed. Even when the value reached went over a million dollars, he would still drive it.”

In the article, Smith said he was shocked when the auction house, RM Auctions, listed the car at $14 million. Talking about the charities, which he didn’t identify, that would benefit from the sale, Smith said in The Dispatch, “He always taught us to give back, so I know Dad would be pleased.”

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