Late US businessman's Ferrari auctioned for $35m
LOS ANGELES (AP) - A rare 1967 Ferrari owned by an orphan-turned-millionaire sold at auction for US$27.5 million (S$35 million).
The red Ferrari was one of only 10 ever built, and its single-family ownership increased interest in the sale, the Los Angeles Times reported.
The owner, the late Eddie Smith, was a former mayor of Lexington, North Carolina. He died in 2007 at age 88. Since then, the car has been stored in a specially built garage.
"This is a bittersweet moment for us," Eddie Smith Jr. told a packed crowd before bidding began Saturday.