Michael Jordan's Ferrari 550 Maranello Fetches $2.7 Million at Auction
Written with artificial intelligence.
A 1997 Ferrari 550 Maranello owned by Michael Jordan sold for $2,700,000 at Joopiter's auction, setting a new record for the model. This sale exceeded pre-auction estimates and marked Joopiter's entry into the collector car market.
Record Auction for a 1997 Ferrari 550 Maranello
Michael Jordan's 1997 Ferrari 550 Maranello achieved a stunning auction price of $2,700,000 on Wednesday night, marking the highest amount ever paid for this model at a public sale. The final bid far surpassed Joopiter's pre-auction estimate of $800,000 to $1,300,000 and more than quadrupled the previous record for a 550 Maranello.
The auction, which ran for two weeks and attracted 43 bids, concluded at 7 p.m. EDT. This event also represented Joopiter's first auction in collaboration with Curated, a dealer known for vintage and collector supercars, expanding Joopiter's offerings beyond sports memorabilia and cultural artifacts.
Caitlin Donovan, Global Head of Sale at Joopiter, expressed that this record-setting sale highlights the strength of their collector community, emphasizing the exciting new direction for the company. Jordan's ownership history played a significant role in the car's value, as indicated by the overwhelming final bid.
The Ferrari, finished in Rosso Barchetta with a tan leather interior, was delivered to Jordan in May 1997 and became iconic, particularly after he was photographed driving it shortly after winning his fifth NBA championship. Curated CEO John Temerian noted that this sale reflects a generational shift in car collecting, with a new wave of buyers valuing the cultural significance of 1990s icons like Jordan's Ferrari.
After being sold by Jordan in 2002, the car disappeared from public view for over twenty years until Temerian's dedicated search led to its discovery this year. The car was ultimately traced back to a California owner who had never put it up for sale, allowing for its return to Chicago just before the auction, coinciding with the anniversary of its original delivery to Jordan.