Ferrari sells for $7 million to set auction record

LaFerrari sold for record $7 million at a charity auction over the weekend at Daytona International Speedway.

A LaFerrari was auctioned off for $7 million over the weekend, to become the most valuable 21st century automobile ever sold at auction.

The exclusive sale took place during the Ferrari Finali Mondiali weekend at the Daytona International Speedway in Daytona Beach, Florida.

The Italian automaker donated the luxury sports car at an auction held jointly between RM Sotheby's and the National Italian American Foundation's Earthquake Relief Fund.

All proceeds will be donated towards reconstruction efforts in the area of central Italy that was struck by an earthquake this year.

The LaFerrari features a red exterior, white dream line on the hood and rear windshield and small Italian flag on the hood.