Final LaFerrari makes record-breaking $7m at earthquake charity auction

A final example of the LaFerrari hybrid hypercar has been sold at auction for $7m (£5.5m), with all proceeds going to help rebuilding efforts in Central Italy after several devastating earthquakes struck the region earlier in 2016.

Ferrari had already built and sold the planned production run of 499 cars, and has since begun work 150 convertible models called the Aperta. But when multiple earthquakes struck Italy in August the company decided to build one more and give all proceeds to charity.

As well as raising a significant sum of money to help rebuilding efforts, the car also set a new record and is now the most valuable car ever sold at auction to have been built in the 21st century. Such figures are usually reserved for older vehicles, like Ferrari and Mercedes sports cars from the Fifties and Sixties.

The final LaFerrari is finished in the company's traditional Rosso Corsa red, but includes a unique white pinstripe and the Italian flag on its nose. A special plaque in the interior also denotes this car's importance.

Although the LaFerrari, which cost £1m when new and was built between 2013 and 2015, is already appreciating in value, the $7m made here puts this example ahead of every other. The second-highest value achieved by a LaFerrari at auction was $4.7m in August 2016.

It is unlikely a production vehicle will beat this record for some time. The only cars which could come close include a hypercar developed by Aston Martin and Red Bull which, when it arrives in 2018, is expected to cost from around £3m and will appreciate quickly. Another front runner is the Bugatti Chiron, which starts at around £2.1m but also includes a near-limitless bespoke options list.

The $7m car was auctioned at the Daytona International Speedway on 3 December by RM Sothebys, who also took no cut from the sale.