First President Trump’s childhood home. And now a bright red Ferrari that was once his.
Investors, it seems, are rushing to cash in prized possessions once owned by the president.
The latest example: a 2007 Ferrari F430 F1 Coupe, which sold over the weekend to an unnamed buyer for $270,000. Similar versions of the model tend to sell for $125,000 to $175,000, according to Auctions America, which facilitated the sale.
Records show that Trump originally purchased the car from Ferrari of Long Island in 2007. He paid a premium for electric seats. Estimated fuel economy was 12 miles per gallon in the city. The suggested retail price at the time was $198,000. He sold it four years later, having driven it about 2,400 miles.
“I like to drive myself when I’m out of the city,” Trump told US Weekly in a 2010 feature titled, “25 things you don’t know about me.” (Among the other revelations: “I do my own hair (but my wife cuts it),” “I like cherry-vanilla ice cream,” and “I’m actually very modest.”)
Although he’s prohibited from driving on public roads as president, Trump has long been a collector of high-end cars, which are “sprinkled around his various properties,” The Washington Post reported in October 2015:
He’s a big fan of Rolls-Royce and started with a vintage 1956 Silver Cloud; now there’s a 2015 Rolls-Royce Phantom ($500,000 and up) that he occasionally drives himself, as well as a Maybach, a Ferrari, a Mercedes-Benz S600 and an SLR McLaren (with a $455,000 price tag) that he bought as a present for Melania. Rounding out the fleet are two made in the USA: a Cadillac Escalade and a Tesla.
The Ferrari, which was up for auction on Saturday, got off to a slow start. “The cherry red Ferrari rolled onto the auction block around 5:30 pm ET as ‘Hail to the Chief’ boomed from the speakers,” according to CNN Money. But the car was soon removed from the auction block when bidding stalled at $240,000. (A minimum bid of $250,000 was required for a sale.)
Moments later, however, a buyer scooped up the Ferrari for $270,000. Auctions America did not disclose the identities of the buyer or the seller.
The car, which has less than 6,000 miles, came with a copy of the original title featuring Trump’s signature. It also came equipped with a V-8 engine, beige leather seats and a radio with a six-disc CD changer.
“It’s well known that President Trump appreciates the finer things in life and this Ferrari F430 is no exception,” the listing said. “At the time of its release, it was one of the most technologically advanced performance cars on the market.”
A couple of weeks ago, a 1988 Cadillac limousine commissioned by Trump sold at auction for about $68,000. A few months earlier, his former electric-blue 1997 Lamborghini Diablo commanded $460,000 on Ebay.