RM Auctions: 1967 Ferrari 275 GTB/4 NART Spider Fetches $27.5 Million

By Ganesh

Published: Monday, August 19, 2013, 16:15 [IST]

The 2013 RM Auctions During Monterey Motorweek has seen this year's highest bid of $27.5 million. The bid was made for an extremely rare 1967 Ferrari 275 GTB/4 N.A.R.T Spider.

The most expensive car ever sold was Sterling Moss's 1962 Ferrari GTO 250 racer which fetched $35 million and the highest amount paid for a car in a public auction was 19.6 million pounds ($29.7 million) for a 1954 Mercedes-Benz W196. But what makes this sale special is that the $27.5 million will be donated to charity.

The 1967 Ferrari 275 GTB/4 N.A.R.T Spider is one of only 10 ever built. N.A.R.T stands for North American Racing Team.

The actual price of the car is $25 million and the additional amount is RM's 10-percent fee, bringing the total to $27.5 million.

The bidding had started at $10 million, but reached $16 million in the second bid itself. The final bid was made by Canada's Lawrence Stroll, one of the person behind fashion clothing brand Tommy Hilfiger, says Bloomberg.

This particular 1967 Ferrari 275 GTB/4 N.A.R.T Spider has had a single owner from the time it left the factory. Eddie Smith Sr. of North Carolina. After Smith's death six years back his family decided to auction it.

"It'll be a bittersweet thing, because we know the fact that all the money is going to charities that he would approve of," Smith Jr. said about his father in an interview with Petrolicious, and it "will really make him smile, because he loved to give back."