President Donald Trump’s 2007 Ferrari F430 F1 Coupe was sold at an "Auctions America" event in Florida Saturday for a private sale at a record $270,000. Trump purchased the Ferrari about 10 years ago and owned it for four years, however did not drive it much. In 2011 he sold it with fewer than 2,400 miles on it.

The auction house said the car "exchanged hands just minutes after it left the podium with a final sale of $270,000." The auction house did not reveal the name of the buyer or the seller. They also said on their website: "To see a former or current President’s personal vehicle offered for sale is extremely rare. It’s highly likely Donald Trump is the only United States President to ever own a Supercar."

The cherry red Ferrari was estimated to sell for between $250,000 to $350,000, according to the auction house. Around 5:30 EDT, Saturday, the car rolled onto the auction block while "Hail to the chief" played from the speakers in the background. At first it appeared that the car would not sell and it left the auction block with a top bid of $245,000, which was not even the minimum bid required for the sale and also did not meet the reserve price, Bloomberg reported.

"Similar versions of the model without the celebrity provenance traditionally bring between $125,000 and $175,000 depending on mileage, condition and optional equipment," Auctions America told Fox40 News.

Auctions America told Bloomberg that the car's new owner will get it with just over 6,000 miles on it. Also, the purchase comes with a copy of the original title that includes Trump's famous and recognizable "bold signature."

According to Hagerly Insurance, $270,000 is the highest bid for a Ferrari F430 F1 Coupe, with an automatic transmission, till date. The two door roadster, with a Double OverHead Cam 32-valve V-8, aluminum block and heads and, port fuel injection, has a top speed of 186 mph and can go from zero to 100 mph in 8.3 seconds.

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