Ferrari online auction to benefit victims of Italian earthquakes

The series of earthquakes that struck northern Italy this month did much more than temporarily halt supercar production. It resulted in the deaths of at least 24 people and caused hundreds of millions of dollars in property damage.

Ferrari, whose hometown of Maranello is situated in the quake-stricken region, will conduct an online auction and contribute proceeds to the families of earthquake victims.

This isn't the first time that Ferrari has chipped in after a natural disaster. In 2009, the automaker auctioned an F430 following a deadly a quake in Abruzzo, Italy, and it contributed toward recovery efforts after last year's Japanese earthquake and tsunami.

Highlights of the upcoming auction include:

-- A Ferrari 599XX Evo, an “extreme, nonhomologated sports berlinetta” valued at $1.6 million.

-- A Formula One Ferrari V8 engine.

-- F1 racing suits and helmets from Fernando Alonso and Felipe Massa.

-- Branded merchandise from the Ferrari Store.

Items to be auctioned will be viewable online at the Ferrari Store Web site before bidding begins. The auction itself begins the week of June 4.

Read the full release below for more details.

Ferrari: an on-line auction for the families of the victims of the earthquakes

Maranello, 31 May 2012 –Ferrari will open an international on-line auction to raise funds for the families of the victims of the earthquakes that have rocked the Emilia-Romagna region since the 20th of May.

In the days leading up to the auction next week, www.ferraristore.com will dedicate a section to this important initiative which sets out to contribute significant sums to those families who have lost loved ones.

The auction will include important and rare items, such as a 599XX Evo, the extreme, non-homologated sports berlinetta with a commercial value of €1.3 million. This extreme sports car incorporates the very best of Ferrari technology, the result of on-going Research and Development activities in the GT division and advanced experimentation in F1. The 599 XX Evo features a package of performance-enhancing technical features for the exclusive, dedicated track-based research and development programme for the 2012-2013 seasons.

There will also be a strong Formula 1 theme, starting with a V8 engine along with racing suits and helmets donated by the Scuderia's drivers, Fernando Alonso and Felipe Massa, as well as numerous items of memorabilia from the works racing cars from past seasons.

Also featuring in the auction will be a selection from the Ferrari Store, including Prancing Horse watches.

As soon as news about the earthquakes came out, Ferrari clients and collectors from around the world spontaneously contacted the Maranello headquarters to offer their contribution. Once again the generosity of Ferrari's enthusiasts will enable the company to provide support to those most hit by the tragedy. A demonstration of solidarity that, in recent years, has contributed to the reconstruction in Abruzzo after the earthquake, as well as the building of two after-school facilities in Ishinomaki in Japan after last year's disaster for which Ferrari contributed over 80 million Japanese yen.

By Graham Kozak