A one-of-a-kind LaFerrari was sold at auction for $7 million (approx. just over RM31 million) to benefit the reconstruction of Central Italy devastated by earthquakes in August and October this year.

The price tag also sets a new auction record for the most valuable 21st Century automobile.

Held by RM Sotheby’s, in collaboration with National Italian American Foundation's Earthquake Relief Fund, the full $7 million raised at the auction will be donated to the benevolent cause, in accordance with the announcement made by the Italian carmaker in August, just after the first rounds of earthquakes, but before the second.

The LaFerrari maintains its standard look for the most part, in Ferrari’s distinctive red, but takes on a slightly more patriotic tone with a small Italian flag on the hood and a white dream line that runs from it, all the way to the rear windshield. The new owner will also receive a commemorative plaque to recognise their contribution.

While not for such a benevolent cause, Ferrari is quite familiar with setting records at auction.