A 2007 Ferrari F430 F1 Coupe previously owned by President Donald Trump was sold at an auction over the weekend.
The auction took place on Saturday and the Trump Ferrari sold for $270,000 to a private buyer. This happened after the car failed to reach the low estimate of $250,000 during bidding. It missed the mark by $10,000.
The low price for the Trump Ferrari may have been caused by a few different factors. The first is the controversial nature of Trump as a President. The second is that the vehicle was being sold by its second owner, not Trump. Also, presidential memorabilia usually goes up in price after their death.
Another reason that the car may not have sold as well as expected is its transmission. The Trump Ferrari had a paddle-shifter, but ones with manual transmissions are more sought after. The overall value of the F430’s models without a manual transmission has also been on the decline, reports Bloomberg
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The Trump Ferrari was sold by the President of the United States back in 2011. It had less than 2,400 miles on it at this time. The second buyer of the car is getting it with a little more than 6,000 miles on it.
Despite not reaching its expected price during bidding, the final sale of the Trump Ferrari is still a record breaker. It is the highest that Ferrari F430 Coupe with a paddle-shifter has ever sold for at auction. It also includes a copy of the original title that has President Trump’s signature on it, notes CNNMoney.
