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It cost $ 650,000 in new condition and sold for a profit of almost $ 2 million.

Ferrari

Vintage car auctions typically involve a group of wealthy bidders sitting around waiting for their eventual valuable possession to pass through the block. But the coronavirus the pandemic has changed things.

In a world where so many things have gone digital, RM Sotheby’s moved some of its operations entirely online and, in the process, still managed to set a record. According to the auction house, a 2003 Ferrari Enzo sold for $ 2.64 million and became the most valuable car sold in an online-only auction. In total, the company oversaw the sale of $ 16.4 million in vehicles in its online-only auction. Obviously, car collectors always have an appetite (and bank accounts) for buying expensive vehicles.

The move to auctions and online auctions is not much of a surprise, as we have seen the rise of sites like Bring a Trailer become must-haves for car buyers. Not that long ago, selling a car online essentially meant creating a Craigslist ad and hoping for the best. Nowadays there is car buying apps, Facebook Marketplace and dedicated online auctions and even big names like RM Sotheby’s are embracing the digital age. The auction house was able to auction 193 cars and received bids from 550 people from 35 countries around the world. In another sense, it’s much easier to make some really expensive impulse buys.

Read more: What it’s like to buy a car during a pandemic

As for the Enzo and its selling price of $ 2.64 million, the supercar bearing the name of the founder of Ferrari had only 1,250 miles on the clock and had only been with two owners. The first owner also only recently sold it and let the car go in 2018. It is painted in a very appropriate shade of red and still includes the original tools, owner’s manual and the supplied window sticker. with the car when it was new 17 years ago. . And talk about an appreciating vehicle. The supercar cost $ 650,000 when it was new. Even adjusted for inflation, the Enzo’s original MSRP would still be less than $ 1 million.


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