We all laughed when Ferrari announced at the recent LA Auto Show that the company would not be developing a "cheap" Ferrari. It was a play on words, because every industry insider has told us that a new entry-level sports car from Maranello is in the works. But Ferrari's right – even if the new model is the least expensive car with a galloping horse on the grille, it still won't be cheap.

Most things, however, get cheap if you wait long enough, and Ferraris are no different. Sports Car Market has assembled a slide show that reveals the Top Ten Cheapest Ferraris of 2006, ranging from a 1986 Ferrari 412i Coupe with 87,500 miles that went for $14,964 at auction to a nice 1980 Ferrari 308 GTBi with only 3,483 miles that someone nabbed for $50,600. There's one Testarossa in the bunch, a white (eww) model from 1987 with 80,270 miles that was won for $42,000. Sure, $15,000 for a car from 1986 with almost 88,000 miles is no bargain, but it's probably one of the cheapest Ferrari ever made.

[Source: Sports Car Market]