$1m Ferrari for sale on website

FERRARI 250 GTE: The left-hand-drive model will not be allowed on roads here.


    May 23, 2016

    $1m Ferrari for sale on website

    TUCKED away in a corner of Singapore-based e-commerce platform Luxglove is a vintage 1961 Ferrari 250 GTE, believed to be the first classic car, and among the highest-priced items (aside from property) to be listed on any Asian e-commerce platform.

    Its price tag: a cool $1 million.

    However, its buyer will not be able to drive it here, as it is a left-hand-drive car.

    With a few exceptions, such cars are not allowed on Singapore roads.

    This model, with its original Ferrari Red exterior and black interior, is the 265th out of only 954 units produced globally.

    Luxglove, which curates pre-loved collectibles, said the Ferrari will be sold through an "exclusive private sale" - that is, a direct transaction between the buyer and seller.

    If the car is sold, it will be Luxglove's most expensive transaction to date.

    The next most costly item on the site is a 50-year-old, First-Edition bottle of Yamazaki whisky, bottled in 2005, going for $85,000.

    Founded last October, Luxglove offers items in five key areas - art, furniture, watches, collectibles and jewellery.