A Ferrari F430 previously owned by President Donald Trump crossed the block at an Auctions America event in Florida on April 1 but didn’t meet reserve, selling post-block for $270,000.
That’s roughly twice its average value, but only $20,000 above the “low estimate” for the car, reports Bloomberg.
F430s of similar age and mileage typically sell for $120,000 to $130,000 when equipped with the “F1” paddle-shift transmission installed in Trump’s car; similar cars equipped with Ferrari’s gated six-speed manual transmissions are far more valuable, selling for 50 to 75 percent more than their paddle-shifted counterparts.
The high estimate for Trump’s previously owned Ferrari was set at $350,000, meaning the “Trump-bump” effect that sent the sale prices of some of the President’s other former vehicles sky-high didn’t play out to full effect, here.
Jonathan Klinger, a spokesman for Hagerty insurance, theorized the F430 may have sold for a higher price had it been personally owned by Trump at the time of the sale—the car was instead being sold by its second owner.
“The appeal is slightly lower than if [bidders] were buying the car directly from Trump,” said Klinger.
Klinger noted the lower-than-expected price may also affect the President’s now much more “polarizing” reputation.