First Bid $10 Million,

second bid $16 million,

then things started getting serious at the RM's Monterey auctions, the 1967 Ferrari 275 GTB/4 NART Spider blew away expectations last night, selling for a gavel price of $25 million and a total bill (after RM's 10-percent fee) of $27.5 million, even more amazing the seller of the car, the family of US philanthropist Eddie Smith announced that all of the proceeds from the auction would be given to charity,

a private collector – believed to be Lawrence Stroll, a retail magnate behind the Tommy Hilfiger fashion label – secured the car after a frantic round of bidding, 

Ferrari historian Marcel Massini, who was at the auction said: ‘Everybody was speechless.’ I bet they were, the $27.5 million that Stroll laid out represents a record-high for a car sold at auction in the US and the second-best tally for any car at auction, just trailing the $29.7M paid for a 1954 Mercedes-Benz W196 driven by Juan Manuel Fangio, but what a huge gesture from the sellers to donate the proceeds to charity.