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Trump's old Ferrari F430 sells for $270,000

You may remember that Auctions America was going to sell a 2007 Ferrari F430 owned by the current president of the United States. It was estimated at between $250,000 and $350,000. It went for auction this weekend and just barely fell into that range. According to Bloomberg, Donald Trump's old Ferrari failed to meet the reserve, set at $250,000, with a final bid of $240,000. However, Auctions America said the car sold after the auction at $270,000. So the auction company did get its estimate right, but just barely. As for what the new owner purchased, he or she got an F430 with celebrity and presidential heritage, the F1 automatic gearbox, low miles, a service history, and a classic Ferrari red paint job. Of course we still stand by our preference for a manual one in our choice of color and without any celebrity history (or baggage depending on your opinion). Check out our original piece for more details on the car. Related Video:

F1's Vettel leads, Verstappen and Grosjean crash at Silverstone

SILVERSTONE, England — Ferrari's Sebastian Vettel pushed Formula One title rival and home race favorite Lewis Hamilton off the top of the British Grand Prix practice timesheets on Friday while Max Verstappen crashed. Hamilton, winner for the past four years at Silverstone, had started the day by leading a Mercedes one-two in the sunny opening session. Vettel, who leads the Briton by a point in the championship after nine races, put in a lap of 1 minute 27.552 seconds in the afternoon to end the session 0.187 faster than his fellow-four-times world champion. That was still slower than Hamilton's morning time of 1:27.487, however, with Vettel third then and half a second slower. Hamilton's Finnish teammate Valtteri Bottas, with a new engine in his car after last weekend's mechanical retirement in Austria, was second and third fastest respectively in the two sessions. Australian Daniel Ricciardo and Kimi Raikkonen traded fourth and fifth places while Max Verstappen, winner in Austria for Red Bull, was sixth in the morning but crashed after lunch without setting a time. The 20-year-old Dutchman had ended the first session early after he was told to stop the car. Haas's Romain Grosjean had a heavy crash at the fast first corner, slamming into the tire barriers after failing to close the drag reduction system (DRS), in the morning and did not take part in practice two. "The car is destroyed," the Frenchman, who was unhurt in the impact, said over the radio. "I'm very, very sorry guys. I think it was the bump. I missed the (DRS) button." Team boss Guenther Steiner said the team needed to rebuild the chassis. Grosjean's team mate Kevin Magnussen and McLaren's Fernando Alonso were called to see stewards for a "potentially dangerous maneuver" after an incident between them early on but stewards ruled there was no further action needed. "Magnussen tried to hit me two times - in one and three," Alonso reported over the radio. "Very dangerous."Reporting by Alan BaldwinRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Reuters Motorsports Ferrari Mercedes-Benz Racing Vehicles F1 Lewis Hamilton Sebastian Vettel Kimi Raikkonen silverstone Max Verstappen british grand prix Romain Grosjean

The Prancing IPO

Owning a Ferrari is something that a lot of car nuts hope to achieve. If you cringe every time you see some celebrity put massive rims on a 458, or paint an F430 neon purple, then you are the kind of person that appreciates what a Ferrari is. It's not a status symbol that will somehow make everyone love you and think you the most amazing person. Rather it is a medium with which to connect yourself to the history and heritage that exists in Modena. The sights, sounds, and smells of the car are worth more than any "thumbs up" you might get driving down the street. The exclusivity of the brand is one of the mechanisms that helps preserve that absolute care it takes to create a Ferrari. Now I don't own a Ferrari, but I appreciate that the Mr. Enzo Ferrari had a very significant part in molding car culture and motorsports. That tradition was carried on by a lot of people after Enzo himself. During my formative years that person was Luca Di Montezemolo. Every time he stepped in front of the camera in his distinctively Italian suit and shoes, I knew Ferrari was in good hands. Just the attitude he had made me feel safe that this very significant part of car culture was in safe hands. He could be giving an interview in Italian and without understanding a single word (well maybe one word, Ferrari) knew he was going to keep the Ferrari in Ferrari. Enter Sergio Marchionne. Now I am a huge Sergio fan. This guy is not your typical auto exec. His office isn't in the highest part of the tallest tower in Auburn Hills, and he doesn't wear a hand-crafted suit made of million thread count cloth. Not dogging in the man's style (his wardrobe is for sure worth more than mine and most others), but basically he is normal guy that doesn't conform to what might be considered the norm. He is his own man. On top of all that, he is a financial wizard. I was skeptical when he took over the reins at Ferrari only because he seemed to have so much on his plate to begin with. In the end I knew a car-guy, albeit one with a CPA/MBA, was in charge. So now when I heard he wanted to spin off Ferrari, I started trying to guess how long it was going to be before the geniuses of Wall Street started pushing Ferrari to pump volume. I saw a horrible future where there was now some entry-level Ferrari with a turbo-six, and four doors...just so every 30 yr-old analyst could flash their Ferrari key at the bar. Then I started thinking about another thing, the value. What is it worth?