American Marketer


Ferrari auctions off last LaFerrari to benefit earthquake victims

November 30, 2016

LaFerrari up for bid in RM Sotheby's auction LaFerrari up for bid in RM Sotheby's auction


Automaker Ferrari is working with auctioneer RM Sotheby’s to aid victims of the recent earthquakes in its native Italy.

The supercar brand created a one-of-a-kind LaFerrari specifically for a charity auction, giving prospective owners one last chance to purchase the limited-run model. This United States auction is expected to draw heavy interest from collectors worldwide, which may increase the benefit to the cause.

Revving up relief
Only 499 of the hybrid 949hp LaFerrari hypercars were produced when it was originally released. The models, which took technology from Formula One vehicles, sold for more than $1 million.

6-26 LaFerrari

Original LaFerrari

As of August, Ferrari chairman and CEO Sergio Marchionne announced that one more of these cars would be produced for charity. With the limited number of cars originally produced, this is expected to garner heavy interest from automotive enthusiasts.

The Dec. 3 auction is being held during the Ferrari Finali Mondiali at the Daytona International Speedway in Florida. This event, hosted in the U.S. for the first time this year, marks the end of the Ferrari Challenge season.

Finali Mondiali - Ferrari passion takes to the track at the Mugello course

In addition to the Ferrari aficionados present in Florida for the auction, the sale presented in partnership with the National Italian American Foundation’s Earthquake Relief Fund will be open to international buyers via phone or absentee bidding.

RM Sotheby’s has a track record with Ferrari, having sold four of the top 10 most valuable cars from the automaker ever sold at auction. It also worked with the brand on a record-setting sale at its factory in Maranello in 2007-2009.

“It is an honor for RM Sotheby’s to be entrusted with the sale of this important car and to help raise significant funds for a desperate cause,” says Rob Myers, CEO/chairman of RM Sotheby’s, in a statement.

“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 LaFerrari could not be put to a better use," he said. "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."

Fellow Italian company Poltrona Frau Group also raised funds to help individuals affected by the devastating earthquake that affected its home country.

The 6.2-magnitude earthquake on Aug. 24 killed at least 290 people, while others suffered injury or the loss of their homes as buildings crumbled. With its headquarters nearby to the site of the earthquake in central Italy, Poltrona Frau Group is looking to help its neighbors with a corporate fundraising initiative (see story).

Since August, additional earthquakes have struck Italy, creating even greater need for relief efforts.