Donald Trump's red Ferrari sells at auction for $270,000

A Ferrari once owned by Donald Trump has been sold at auction for a "yuge" amount.

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The 2007 Ferrari F430 Coupe originally went for $240,000 in Florida Saturday. But the red sports car was later sold a few hours after the auction ended for $270,000, according to reports.

"We can confirm it exchanged hands just minutes after it left the podium," Auctions America said in a statement to Bloomberg.

The specific model was introduced at the Paris Motor Show in 2004 and purchased when it hit the market in 2007. He owned the car for a little more than four years during which time the car accrued just over 2,400 miles.

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Donald Trump's red Ferrari sells at auction for $270,000
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Donald Trump's red Ferrari sells at auction for $270,000
A Ferrari F430 owned by US president Donald J. Trump in 2007 is exhibited by Autcions America in Fort Lauderdale, Florida on March 31, 2017. The auction will take place on April 1, 2017 and is expected to fetch $250,000 to $350,000 US dollars. / AFP PHOTO / Leila MACOR / TO GO WITH AFP STORY BY LEILA MACOR (Photo credit should read LEILA MACOR/AFP/Getty Images)
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A Ferrari F430 owned by US president Donald J. Trump in 2007 is exhibited by Autcions America in Fort Lauderdale, Florida on March 31, 2017. The auction will take place on April 1, 2017 and is expected to fetch $250,000 to $350,000 US dollars. / AFP PHOTO / Leila MACOR / TO GO WITH AFP STORY BY LEILA MACOR (Photo credit should read LEILA MACOR/AFP/Getty Images)
A Ferrari F430 owned by US president Donald J. Trump in 2007 is exhibited by Autcions America in Fort Lauderdale, Florida on March 31, 2017. The auction will take place on April 1, 2017 and is expected to fetch $250,000 to $350,000 US dollars. / AFP PHOTO / Leila MACOR / TO GO WITH AFP STORY BY LEILA MACOR (Photo credit should read LEILA MACOR/AFP/Getty Images)
An unidentified man looks at a Ferrari F430 owned by US president Donald J. Trump in 2007 as it is exhibited by Autcions America in Fort Lauderdale, Florida on March 31, 2017. The auction will take place on April 1, 2017 and is expected to fetch $250,000 to $350,000 US dollars. / AFP PHOTO / Leila MACOR / TO GO WITH AFP STORY BY LEILA MACOR (Photo credit should read LEILA MACOR/AFP/Getty Images)
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"At the time of its release, it was one of the most technologically advanced performance cars on the market," a statement on Auctions America's website read. "Already a low production vehicle, its provenance is significantly increased by President Trump's ownership.

"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. This Ferrari F430 is very special and is sure to make an excellent addition to any collection."

He sold the Ferrari in 2011 and the next owner put the vehicle up for auction April 1. The buyer who took the car off Trump's hands also seemed to seldom drive the hot wheels, as it hit the block with just 6,000 miles.

The Ferrari F430 has a V-8 engine and can reach speeds of nearly 200 miles per hour.

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The person who bought the car over the weekend has received a copy of the original title of the car that has Trump's signature on it and the address to Trump Tower on Fifth Avenue.

Ferrari discontinued the F430 in 2009, making the model harder to buy and can only be purchased through private sellers or auction houses.

The Italian automaker replaced the model with the F458, which ended its run in 2015.

Watch: Yuge Profit: President Trump's Childhood Home Flipped for $750,000 Gain

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