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In an unusual intersection of high-performance automobiles and federal legal proceedings, a 1990 Ferrari F40 will be auctioned under the supervision of the U.S. Bankruptcy Court for the Central District of California next week.
With only 7,430 miles on the odometer and finished in Rosso Corsa, this F40 is one of just 213 U.S.-specification models built. The car, widely considered a milestone in Ferrari history as the last model personally approved by Enzo Ferrari, will cross the auction block on August 12 in Santa Barbara. The court-appointed sale is tied to the bankruptcy case of Santa Paula Hay & Grain and Ranches, a company once known more for livestock feed than exotic machinery.
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What makes the sale particularly noteworthy is the method: no auction house fees, no glitzy venue. Bidding will occur via Zoom or in person, strictly limited to pre-qualified participants. The court has set a buy-it-now price of $5 million and a minimum opening bid of $2.555 million, originally placed by RM Sotheby’s as a “stalking horse” offer.
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The Ferrari was reportedly financed through Ferrari Financial Services, with roughly $548,000 still owed. Proceeds from the auction will be used to settle outstanding debts.
Bidders must submit a $500,000 deposit within three days of a successful bid, and the car will be available for inspection by appointment only. The process, while unconventional, could save buyers hundreds of thousands of dollars in typical auction premiums.
Powered by a twin-turbocharged 2.9-liter V8 producing 478 horsepower, the Ferrari F40 set the benchmark for performance in the late 1980s. With its spartan interior, carbon fiber construction, and top speed exceeding 200 mph, the F40 remains one of the most revered collector cars in the world.
For the right buyer, this court-ordered sale may offer a once-in-a-lifetime chance to acquire a legend—without the usual supercar markup.
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