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A resident of Vancouver, British Columbia saw his Ferrari get auctioned off by the Royal Canadian Mounted Police, after they seized the vehicle for excessive speed in September.
The Ferrari was racing a BMW M6 in the north end of Vancouver, and was clocked traveling 124 mph in a zone designated for speeds of around 40 mph. Reports state that the Ferrari narrowly missed a mother and her children.
Provincial laws allow the police to seize and take possession of vehicles involved in excessive speeding or reckless driving incidents. The Scuderia ended up selling for $306,000, with the money divided between the vehicle’s owner and the government in an 80/20 split. The BMW M6 will be auctioned sometime next week.
[Source: The Province]