Story By: Alex Cope, Sub Editor: Joseph Golder, Agency: Asia Wire Report
This Ferrari worth over 100,000 GBP has been dubbed “the world’s cheapest” after a court decided to auction it from 200 GBP after finding it was uninsured.
The second-hand Ferrari 599 will be auctioned off by the Third People’s Court in the city of Dongguan in the Guandong province in South China at a starting price of just 1,701 RMB (194 GBP) because they see it as only good for “scrap metal”.
The court responsible for the auction say bidding on the Ferrari will start so low as the car is fitted with a fake licence plate and does not have any registration.
Pictures Credit: AsiaWire/Taobao
The vehicle was discovered by police after it was involved in a traffic accident. They found the car had zero information attached to it, it was not registered in the system and no there was no insurance related to the vehicle. They will not allow the vehicle to be registered again in China and sold.
This means the vehicle cannot legally be driven and a Dongguan Third People’s Court spokeswoman said: “There is no information about this vehicle at the Vehicle Management Office, so it’s non-transferable and can’t be driven.
“That’s why it’s so cheap – we viewed it as scrap metal, and its scrap evaluation came to 2,430 RMB (276 GBP). We then offered a 30-percent discount on that for our auction.”
The auction begins on 20th June and local media report there are believed to be over 250 interested parties.
Whoever buys the Ferrari 599 will also have to pay an extra 10,000 RMB that the vehicle has accrued in unpaid parking fines, according to reports.
It is unclear if a foreign buyer would be able to export the car and register it in another country.
Used Ferrari 599s usually retail for over 100,000 GBP in the UK and the model was the brand’s front-engined, two-seat flagship between the years 2006 and 2012.
The 599 is named for its total engine displacement of 5,999 cc. Top Gear Magazine named the 599 GTB as the Supercar of the Year 2006.
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