Unique Ferrari 599 China Fetches €1.2 Million in Beijing Auction

The single special Ferrari 599 GTB Fiorano China Limited Edition designed by artist Lu Hao was auctioned off to an anonymous bidder from Shanghai at the Red Gate Gallery in Beijing on Tuesday for €1.2 million, or approx US$1.75 million at today's exchange rates. Based on a limited version of the 599 for the Chinese market, this one-of-a-kind Prancing Horse model is distinguished by the Song Dynasty Ge Kiln pottery patterns applied on the body.

Along with the special 599, Ferrari also auctioned a few more objects from its collection including a racing overall worn by F1 driver, Giancarlo Fisichella and a helmet and a model car signed by Michael Schumacher (yes, that's him wearing the fuxia scarf), who unveiled the car to the international press this morning.

According to the Italian supercar maker, the proceeds from the auction will go to fund outstanding students and young teachers of Tsinghua University's Department of Automotive Engineering to study at Italy's Politecnico di Milano University and internship at Ferrari's headquarters.