Loan Cheat's Massive Car Collection Is Sold For An Insane Amount At Record Breaking Auction

The loan defaulter, an Italian businessman had promised to use the money he borrowed to help his business but instead used it build the rather insane collection that went under the hammer.

The list of vehicles were varied with everything from ultra rare supercars to motorcycles, bicycles, and power boats going under the hammer.

At the end of the day its was the highly coveted Ferrari 275 GTB/6C - alloy-bodied with a long nose, six carbs, and a torque tube - which topped the auction sales list, selling for €3.416 million (Rs 24.8 crore).

In second place was a low-mileage Maserati MC12 which sold for €3.024 million (Rs 21.95 crore), a new record for the MC12 at auction.

Topping out the top three was the Ferrari F40, which was no slouch either selling for €1,030,400 (Rs 7.48 crore).

In fourth place was Porsche's 959, the reason why the Ferrari F40 had that top speed of 201mi/h (323km/h). The Porsche sold for (Rs 7.31 crore).

Rounding out the top five was another Ferrari, a Ferrari Daytona to be precise, which garnered €873,600 (Rs 6.34 crore).

What made the Duemila Ruote auction even more interesting was the fact that each and every item on auction didn't have a reserve price.