Ferrari (NYSE:RACE) to Auction Last LaFerrari for Charity

Ferrari (NYSE:RACE) to Auction Last LaFerrari for Charity

Ferrari (NYSE:RACE) to Auction Last LaFerrari for Charity


Ferrari (NYSE:RACE) will auction off the last LaFerrari Supercar made to raise money for earthquake relief in Central Italy, the iconic carmaker announced Tuesday.

Just 499 coupes were planned, but Ferrari decided to make 1 more, as a gift to its home country.

The car, the last new LaFerrari to be sold, will be auctioned off by RM Sotheby’s (NYSE:BID) at the Ferrari Finali Mondiali weekend at Daytona International Speedway.

All proceeds will go to the National Italian American Foundation’s Earthquake Relief Fund.

The 949 hp hybrid HyperSupercar includes a 1-off livery and interior, as well as a special plaque.

LaFerrari buyers were hand-picked by the company based on their brand loyalty and a few other criteria, so this auction is a once-in-a-lifetime opportunity to purchase a new LaFerrari.

“The earthquakes which have struck Central Italy this year devastated the lives of thousands of people, and the money raised by the sale of this one-of-a-kind, and final, LaFerrari, could not be put to a better use,” said Rob Myers, CEO/Chairman of RM Sotheby’s. “The auction will be an historic event, and the generosity of Ferrari SpA will change lives in the areas most affected by the natural disaster.”

The auction will take place on December 3rd at 8:00p EST.

New LaFerrari’s were sold by the company for more than $1.5-M, though used examples have fetched several times that amount at auction.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 54.75 29 November 2016 0.98 53.82 54.99 53.82 359,909
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.35) Neutral (0.19) Very Bullish (0.50) Bullish (0.36)

Stay tuned…

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Paul Ebeling

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