Government-seized Ferrari F40 sells at auction for US$760,000
The infamous black Ferrari F40 crashed long ago and then put back together by Gas Monkey Garage has just sold again—though this time it traded hands at a U.S. Marshall’s auction in California.
The F40 ended up in government hands because previous owner Richard Scott, a Santa Monica parking lot operator, had all of his assets seized by the FBI after pleading guilty last year to conspiracy and wire fraud charges against the U.S. Department of Veterans Affairs.
Overall, he stole US$13 million, and so was forced to give up his collection of vintage cars in the process, which included the Ferrari.
The car was built by Aaron Kaufman and his team for the television show Fast ‘n’ Loud. It started out as a totalled 1991 Ferrari F40, and over the course of 40 days was built into the car you see now.
Richard Rawlings of Gas Monkey Garage, and his business partner Dennis Collins, originally bought the car for US$400,000 in 2013.
The Los Angeles Times reports the 1991 Ferrari F40’s sale this week, though, ended up at the US$760,000 mark, which is higher both than the price Gas Monkey originally sold it for; or its value the second time it was sold.
A tweet from Richard Rawlings suggests he attempted to buy it back for a lower price to try and make some money on it, but didn’t end up winning the auction.