1997 Ferrari F50 sells for $17 million at Las Vegas auction

A 1997 Ferrari F50, a supercar from the Italian sports car maker, has been sold at auction in Las Vegas in the United States after covering just 170 km in its roughly 29 years. It went for $17 million, the highest price yet paid for this model. The sale was run by the auction house Broad Arrow Auctions.

An extremely rare model

The Ferrari F50 was built only from 1995 to 1997, with 349 cars produced in total. The car sold is number 334 of that run. It is kept in flawless condition and has barely been driven, which is why it is described as a "time capsule".

Ownership history

The car was bought in 1997 by a wealthy customer in the United Kingdom. It was later sold to Japan, and in 2015 it returned to Europe to its current owner in Germany.

Price below forecasts

Before the sale, it was forecast that the price could reach or even exceed $20 million. The final figure stopped at $17 million, but that was enough to comfortably beat earlier F50 price records at public auctions.

Technical details

The F50 was built to mark the company's 50th anniversary. It is powered by a 4.7-litre naturally aspirated V12 engine derived from a Formula 1 car, producing 520 horsepower. It has a six-speed manual gearbox and rear-wheel drive. The source says this kind of driving experience can no longer be found in the modern supercar era.