500th La Ferrari auctioned for record US$ 7 million

The 500^th La Ferrari model was auctioned, fetching a whopping US$ 7 million (Rs 47.5 crore). The proceeds of the sales will benefit the reconstruction of Central Italy in the aftermath of the devastating earthquakes of 2016. 

The 950bhp LaFerrari finished its 499-unit production run in 2015, but one extra model was subsequently produced. With such a small production number, examples of LaFerrari that make it onto the used market carry a heavy premium over the car’s US$ 1.46 million (Rs 10 crore) list price.

The auction was held in conjunction with RM Sotheby’s and in collaboration with the National Italian American Foundation's Earthquake Relief Fund. The price achieved represents a record for the most valuable 21^st century automobile ever sold at auction.

All proceeds from the auction will go toward the reconstruction efforts in the areas affected by the earthquake. RM Sotheby’s has graciously donated their expertise to raise the highest amount possible. The decision to donate a LaFerrari from the company’s own collection for this cause was announced on August 31, 2016, on the occasion of the bilateral talks between the Italian and German governments that took place at the Ferrari factory in Maranello, Italy.

The LaFerrari boasts a unique livery with a distinctly Italian theme: a red exterior with a white dream line on the hood and rear windshield. A small Italian flag on the hood serves as a reminder that this is a gift by Ferrari to its home country. The car will also feature a commemorative plaque.

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