Rare 1967 Ferrari previously owned by self-made millionaire sells at auction for a record $27.5 MILLION!

'This is a bittersweet moment for us,' Eddie Smith Jr. told a packed crowd before bidding began Saturday. 'Ferraris came and went, but this one never went, thank God. We enjoyed it as a family for 45 years.'

The sale of the Ferrari 275 GTB/4 S N.A.R.T. Spider was handled by RM Auctions in Monterey. N.A.R.T. stands for North American Racing Team, a Ferrari-backed venture created in the late 1950s to promote the brand in the U.S.

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