Ferrari fetches $11 million at an Auction

A Ferrari 250 GT California Spyder once owned by U.S. actor James Coburn fetched nearly $11 million at auction, making it the most valuable vintage car ever sold under the hammer. The rare black convertible was one of 33 cars and scores of Ferrari memorabilia sold at auction on Sunday in the luxury sports carmaker’s hometown of Maranello in northern Italy.” It’s a very rare Ferrari, one of just 56 built,” said spokesman Terrence Lobzun. “It’s a very desirable car, probably one of the most desirable Ferraris ever built as far as style and design are concerned.”

Other vintage models that collectors paid top dollar for included a 1964 Ferrari 250 LM sold for 4.5 million euros ($7,099,829 USD) while an autographed 2007 race suit owned by Formula One driver Kimi Raikkonen fetched 11,500 euros ($ 18, 141 USD).