Ferrari 250 GT commands more than $8 million at Arizona auction

January 23, 2013 12:00 AM

Did you think your standard auto repair was expensive? Are high gas prices burning a hole through your wallet? If so, then you probably aren't ready to move up to a Ferrari 250 GT, which saw two models demand more than $8 million at recent auctions. 

According to The New York Times, a blue 1958 California Spider brought in $8.25 million at the Gooding & Company auction in Arizona. Just a few miles away at an RM Auctions event, a red 1960 Berlinetta Competizione sold for $8.14 million. The two cars were sold for the highest prices of the week and were among the eight automobiles that commanded more than $8 million, despite the hundreds of vehicles auctioned off at various auctions around the area. 

"You get a car as important as the Ferrari California Spider and that price doesn't necessarily surprise me," McKeel Hagerty, president of a top car insurance firm, told The Arizona Republic. "They are in high demand and low supply." 

Each of the vehicles were in pristine condition, with almost no vehicle maintenance needed to improve the rides and most of the original parts were still intact. 

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