A 1967 Ferrari NART Sypder -- one of only 10 manufactured -- was sold for a whopping $27 million in a weekend car auction. According to Bloomberg, the auction was held in Monterey, Calif. and was hosted by RM Auctions. The proceeds of the sale will be donated to charity.

The 1967 Ferrari convertible sets the record for the most expensive road car ever sold at an auction. It was owned by former Lexington mayor and businessman, Eddie Smith. According to his son Eddie Smith, Jr., the Ferrari was his father's favorite.

Smith Jr. said that his dad was an avid car collector but especially loved the 1967 Ferrari's look, sound and feel.

"Dad wouldn't want the car to be shut away; he would want it to be enjoyed. Even when the value reached went over a million dollars, he would still drive it," he told USA Today.

The car was named after the North American Racing Team (NART) -- a group created in the 1950s to promote Ferrari in the U.S. Only 10 NART Spyders were created by Ferrari's North American importer, Luigi Chinetti, says Bloomberg.

John Collins, one of the underbidders at the auction told Bloomberg in a telephone interview that the NART Spyder is a "very special" car. "They're so rare. They're among the most beautiful of all Ferraris. Some of the biggest collectors in the world own one, and Steve McQueen tried to buy this one after he crashed his," Collins said.

Smith Jr. said the family decided to sell the car because it was "imprisoned" after his father's death in 2007. He also told the new owner to "drive it, love it, enjoy it, and more importantly share it with others so they can see it," NBC News notes.

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