Trump's old Ferrari sells at auction for record $270,000

A Ferarri once owned by President Trump was sold at auction this weekend at a record $270,000.

The 2007 Ferrari F430 F1 Coupe was purchased new by Trump a decade ago.

He didn't drive the Ferrari much. Trump sold the supercar in 2011 with fewer than 2,400 miles on it.
The vehicle changed hands again on Saturday at an Auctions America event in Florida. The auction house did not name the buyer or the seller.
The cherry red Ferrari rolled onto the auction block around 5:30 pm ET as "Hail to the Chief" boomed from the speakers.
At first, it looked like the car wouldn't sell. It left the auction block with a top bid of $245,000 -- which didn't meet the reserve price, or the minimum bid required for a sale.
The Ferrari, according to Auctions America, sold "just minutes after it left the podium."