Ferrari LaFerrari RM Sotheby's

A one-of-a-kind LaFerrari sold for $7 milllion this weekend, earning it a world record for the highest price for a 21st century vehicle.

The 949hp hypercar was offered from Ferrari’s own collection and auctioned by RM Sotheby’s and was sold for a whopping $7 million in Daytona, Florida. The original production of the LaFerrari was limited to 499 coupés.

There was an intense 10-minute bidding for the car, according to RM Sotheby’s. The sales price overwhelmingly exceeded the previous high record by more than $1.8 million.

The money is for a good cause – it will go to help rebuild Central Italy after the 2016 earthquakes that hit the region and for the victims.

“It is an honor for RM Sotheby’s to be entrusted with the sale of this important car and to help raise significant funds for a desperate cause,” said CEO and Chairman of RM Sotheby’s Rob Myers in a statement. “The earthquakes which have struck Central Italy this year devastated the lives of thousands of people, and the money raised by the sale of this LaFerrari could not be put to a better use. The auction will be an historic event, and the generosity of Ferrari SpA will change lives in the areas most affected by the natural disaster.”

The car's interior features a one-of-a-kind livery, designed as a tribute to Italy. It also includes a special plaque to commemorate the occasion.

The auction was held in partnership with the National Italian American Foundation’s Earthquake Relief Fund. Also included in the action were two official Scuderia Ferrari F1 racing suits and gloves, one autographed by Kimi Räikkönen and the other by Sebastian Vettel. Those items helped raise an extra $36,000 for earthquake victims.