As a rule, when we see the words “auction” and “Ferrari” in the same sentence, we quickly start thinking about the astronomical amounts that it is necessary to offer in order to be able to acquire a Cavallino Rampante brand of “pure blood”. However, the Ferrari 599 GTB Fiorano that we speak to you today is proof that there are exceptions to this “rule”.
Currently owned by police in the Chinese city of Dongguan, this 599 GTB was seized by authorities after it was involved in an accident and it was discovered that it was not only uninsured but unregistered.
So far the story hasn't been strange at all. After all, even here situations like this occur. What made the whole situation unusual was the fact that the base bid price for this Ferrari 599 GTB was set at around… 220 euros! This despite the fact that, according to The Sun newspaper, the car is in perfect mechanical condition and moving.
Why was it so cheap?
The reason the Italian model was going to be auctioned off at such a low price is simple: as it was not registered in China, the Ferrari 599 GTB could not be driven in that country, which led the Dongguan court to declare it “junk iron ” and valuing it at 2430 renmimbi (the Chinese currency), around 314 euros.
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As the car would later go up for auction, the Chinese authorities also decided to apply a 30% discount that made the bidding base approach around 220 euros, an outrageously low value considering that we are talking about a Ferrari equipped with a powerful 620 hp V12 engine!
Interest did not wait, with around 672 more people registering for the auction. This is despite the fact that whoever bought it would still have to pay 10,000 renmimbi (about 1292 euros) in accumulated parking fines, and there is no certainty about the possibility of a foreigner buying the car, exporting it and registering it in another country.
However, this true “China deal” never took place, with the latest news indicating that the court reached an agreement with the “owner” of the car (in this case the person who “forgot” to register it) being the auction in the meantime cancelled.