Final LaFerrari sells for $7m, setting 21st-century auction record
Ferrari’s 500th and last LaFerrari coupe, built to support Italian earthquake relief, fetched $7 million at auction, five times its original price.
The Ferrari LaFerrari was originally limited to 499 units, but in 2016, a devastating series of earthquakes struck central Italy. In response, Ferrari made the decision to build a 500th and final LaFerrari coupe. This car was created specifically to be sold at auction, with all proceeds directed towards earthquake relief and reconstruction efforts in the affected regions. The initiative was supported by the National Italian American Foundation’s Earthquake Relief Fund, highlighting the automotive world’s capacity to contribute to humanitarian causes in times of crisis.
Background: Why the Final LaFerrari Was Built
Auction Details and Record-Breaking Sale
The auction for the final LaFerrari took place in December 2016 at Ferrari’s annual Finali Mondiali event. RM Sotheby’s managed the sale, attracting global attention from collectors and enthusiasts. Bidding for the 500th LaFerrari soared to $7 million, which was approximately five times the car’s original list price. At the time, this made it the most expensive 21st-century car ever sold at auction. While classic Ferraris such as the 1957 335 S Spider Scaglietti have achieved higher prices in previous years, no modern supercar had reached the LaFerrari’s auction figure in the new century.
Unique Features of the 500th LaFerrari
To distinguish it from the other 499 LaFerrari coupes, the 500th car included several bespoke touches. It was adorned with the Italian tricolour flag on the front, a symbolic gesture reflecting its role in supporting Italy’s recovery. Inside, a special commemorative plaque marked its unique status. These exclusive details enhanced its appeal to collectors, ensuring that the car would be instantly recognisable and historically significant.
Charity Efforts at Finali Mondiali
The Finali Mondiali event, held at Ferrari’s Mugello circuit, was not limited to the LaFerrari auction. It also included the unveiling of the motorsport-focused 488 Challenge and the one-off SP275 SW Competizione. Additional fundraising took place when two official Scuderia Ferrari Formula One racing suits and gloves, signed by drivers Kimi Räikkönen and Sebastian Vettel, were auctioned. These items raised an extra $36,000 for earthquake relief, further supporting the reconstruction of central Italy.
Impact and Legacy of the Sale
The $7 million sale of the 500th LaFerrari coupe set a new benchmark for modern supercars at auction. Its creation and sale demonstrated how the automotive industry can respond to humanitarian needs, combining exclusivity with charitable giving. The funds raised contributed directly to rebuilding efforts in Italy, and the car itself became a symbol of solidarity and support in the face of natural disaster. The record is likely to be surpassed in the future, but the story behind this LaFerrari ensures its place in both automotive and charitable history.
