Ferrari F40 to Be Auctioned by U.S. Federal Court With $5.5M Buy-It-Now Option
One of the world's most coveted supercars—a 1990 Ferrari F40 with just over 7,400 miles—is heading to the auction block in an unusual setting: a U.S. federal court.
The sale, overseen by the U.S. Bankruptcy Court for the Central District of California, stems from a corporate bankruptcy case involving Santa Paula Hay & Grain, a ranch supply business. The court-approved auction is scheduled for August 12, with in-person and Zoom bidding permitted—though bidders must be pre-qualified and submit a $500,000 deposit if they win.
10 Surprising Facts About the Ferrari F40 That Even Enthusiasts Might Not Know
The F40, painted in classic Rosso Corsa red, is one of only 213 U.S.-spec models ever built. As the final Ferrari personally approved by Enzo Ferrari, the model is regarded as a milestone in automotive history. Powered by a twin-turbocharged 2.9-liter V8, the car produces 478 horsepower and can exceed 200 mph.
But what's drawing as much attention as the car itself is the unique sales process. With no auction house involved, the transaction avoids hefty buyer premiums, often 10% or more on multimillion-dollar sales. The court has authorized a 'buy-it-now' price of $5 million, though bidding starts at $2.55 million, submitted by RM Sotheby's as the stalking horse bidder.
Court filings show the car will be sold free of liens, with Ferrari Financial Services' outstanding claim of approximately $549,000 to be settled through proceeds.
A website dedicated to the sale—f40forsale.com—lists key details and documentation. The car has a clean title, low mileage, and is expected to attract global interest from collectors eager for a no-frills, no-fee opportunity to own an automotive legend.
10 Must-Have Tools and Gear for the Modern Car Collector (Amazon Edition)
While the setting may lack the glamour of Monterey or Pebble Beach, this court-administered sale offers a rare and potentially lucrative opening for enthusiasts. As one of Ferrari's purest performance machines, the F40's value is undeniable—regardless of whether it's sold under a chandelier or a judge's watchful eye.
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