Ferrari 275GT/4 NART Spider Sells For $27.5 Million In Auction

Posted Aug 19, 2013

A Ferrari from 1967 has been sold to Canadian billionaire Lawrence Stroll.  Stroll bought the red Ferrari 275 GTB/4*S N.A.R.T. Spider for $27.5 million at an auction.  Stroll is known for developing the Tommy Hilfiger clothing brand in the 1990s and he was also heavily involved in the business development of Michael Kors.  Stroll owns 20 other Ferraris and a race track near Mont Tremblant, Quebec.  This Ferrari was only one out of ten ever built.

The $27.5 million price is a record for a car sold at an auction in the U.S.  It is the second highest in the world after $29.7 million was paid for a 1954 Mercedes-Benz W196.

N.A.R.T. means North American Racing Team, which is a Ferrari backed venture created in the late 1950s to promote the Ferrari brand in the U.S.   This sale was conducted by RM Auctions in Monterey.  The car used to be owned by former mayor of Lexington, N. C.  Eddie Smith.  Smith passed away in 2007 at the age of 88.  The car was stored in a garage up until the auction.  The family is giving all the proceeds to different charities.  Smith Jr. became wealthy from a mail order business that he started.

“This is a bittersweet moment for us,” stated Eddie Smith Jr. in front of a crowd before bidding started on Saturday. “Ferraris came and went, but this one never went, thank God. We enjoyed it as a family for 45 years.”

The red Ferrari 275 GTB/4*S N.A.R.T. Spider car was used in the 1968 firm “The Thomas Crown Affair” starring Steve McQueen too.