• Aug 19th 2013 at 7:31AM
  • 9
Rare Ferrari Spyder Garners Record-Setting Bid at Auction

A rare 1967 Ferrari owned by a North Carolina orphan-turned-millionaire sold at auction for $27.5 million.

The red Ferrari was one of only 10 ever built, and its single-family ownership increased interest in the sale, the Los Angeles Times reported.

The owner, the late Eddie Smith, was a former mayor of Lexington, N.C. He died in 2007 at age 88. Since then, the car has been stored in a specially built garage.

"This is a bittersweet moment for us," Eddie Smith Jr. told a packed crowd before bidding began Saturday. "Ferraris came and went, but this one never went, thank God. We enjoyed it as a family for 45 years."

The sale of the Ferrari 275 GTB/4 S N.A.R.T. Spider was handled by RM Auctions in Monterey. N.A.R.T. stands for North American Racing Team, a Ferrari-backed venture created in the late 1950s to promote the brand in the U.S.

Smith Jr. advised the new owner to "drive it, love it, enjoy it, and more importantly share it with others so they can see it." The auction house has not disclosed the new owner.
In keeping with his father's philanthropy, the family was giving all proceeds to various charities, Smith Jr. said.

Smith Sr., who became wealthy from a mail-order company he started, was a beloved figure in Lexington. Mayor from 1970 to 1975, he also led hospital, college and chamber of commerce boards.
The avid car enthusiast owned several Ferraris, but the 275 N.A.R.T. Spider was his favorite because he loved the look, sound and feel of it, Smith Jr. told The Dispatch of Lexington.

"Dad wouldn't want the car to be shut away, he would want it to be enjoyed," he said. "Even when the value reached went over a million dollars, he would still drive it."

The 275 N.A.R.T. Spider was featured in the 1968 film "The Thomas Crown Affair," the Los Angeles Times reported.

I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.

    • 1 Second Ago
      • 1 Year Ago
      Stupidity cannot be fixed.
      • 2 Years Ago
      nobody told me about the auction
      • 1 Year Ago
      Thanks for info i am very impressed...I like it because it is real people can give more for a car they want....i often attend Repokar car auction and also am so impressed how much money people spend to get a car....
      • 2 Years Ago
      Sharp short!
      • 1 Year Ago
      Wow, did the plaintiff also notice the non-stop reminders of Japanese atrocities? It was almost like watching a two-part war time propaganda film, especially when Jeremy read the passages about the 50 year old English POW who was pummeled with a shovel as he was not working hard enough for his captors. Jeremy Clarkson is equally on the offense with Americans, who are invariably referred to a "fat" (Clarkson, check the mirror!) and ignorant and narrow minded, even when we are being baited by his crew with offensive slogans on cars and dead animals on the roof (is this a common practice in England?). Top Gear is an entertainment program, and should be treated as such. If Clarkson offends his nations allies, there is not much of a chance he will spare former adversaries with his insults.
      • 2 Years Ago
      I'm changing my name to Ferrari
      • 2 Years Ago
      Wow,great comments from the family and amazing that they are donating all proceeds to charity. Classy.
      • 1 Year Ago
      the real miami vice spyder...sort off..
    Share This Photo X