MADRID – Two Ferraris given as gifts to former King Juan Carlos are to be auctioned off by the Spanish state, with starting prices of some 350,000 euros ($400,000) each.
The two Ferrari FF four-seater models are on display this week for potential buyers. The Finance Ministry says they will be auctioned on Nov. 6. Bidders will have to lodge deposits of about 17,500 euros.
The hardly used cars — one black and the other silver gray — were given to Juan Carlos by the United Arab Emirates in 2011.
The ministry said Monday that the king donated the Ferraris to the National Heritage institution in 2012, which passed them onto the ministry.
Juan Carlos stepped down last year after a four-decade reign, leaving the throne to his son Felipe.