Ferrari F12 Raises Over $1 Million for Hurricane Relief

Ferrari and its customers dig deep to help those affected by Hurricane Sandy with $1.5 million in donations to the Red Cross.

There's little doubt that Ferrari makes money hand over fist. But when disaster strikes, it also extends a helping hand. The Italian automaker donated cars and other items which it auctioned off earlier this year for earthquake victims in northern Italy, tsunami victims in Japan last year and disaster victims in the Abruzzo region of Italy in 2009. After Hurricane Sandy, Ferrari pledged the first F12 Berlinetta to arrive in America towards the American Red Cross, and auctioned it off this weekend.

The auction was held during the re-inaugurated United States Grand Prix this weekend in Austin, Texas. Bidding quickly escalated from the $315,888 starting price, with Long Island resident Larry Roth placing the winning bid at $1.125 million. Along with $345,000 in donations made by "Ferrari dealers, clients and friends," the purchase price brings the total donation to $1.5 million, which the Red Cross of Central Texas received yesterday in Austin. Roth will take delivery of his F12 in the second quarter of 2013, after which deliveries will begin to other buyers who've been waiting for their new supercars to arrive as well.

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