One of the heirs to the Fiat fortune has auctioned of his eye-catching Ferrari [NYSE:RACE] 458 Italia in order to raise more than $1 million for AIDS research.
Rosso Corsa is the unofficial color of Ferrari (and the official racing color of Italy), but none of it was applied to Elkann's rather avant-garde 458 Italia. Instead, Eklann had the performance car hand-painted in a camouflage style, a look that is repeated with custom leather inside the vehicle and high temperature resistant paint in the engine bay. It makes for a striking, if rather polarizing, custom Ferrari.
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Proceeds from the Ferrari, which was auctioned off at the 23rd annual Cinema Against AIDS charity event on the sidelines of the recent 2016 Cannes Film Festival, will benefit amFAR, a New York-based research charity.
The customized Ferrari sold for 1 million euros, or about $1.1 million. The lucky top bidder? That would be Ron Burkle, an American billionaire investor and philanthropist who has close ties to the Clinton family.
Elkann commissioned the car in part to promote Ferrari's Tailor Made personalization division. One of several military-themed vehicles built for Elkann, the Ferrari was undoubtedly the most flamboyant. Today, though, Elkann is running his own personalization shop in the heart of Milan. It's called Garage Italia Customs.