The 500th and last LaFerrari has sold for a staggering US$7 million at auction, with the proceeds going towards aiding the victims of the recent earthquakes in central Italy.

Ferrari originally capped the limited edition run of the 949-hp hybrid hypercar at 499 units, but Chairman and CEO, Sergio Marchionne, announced in August that an additional one-of-a-kind coupe would be made as a gift to Italy and auctioned to help rebuilding efforts in the wake of this year's devastating quakes.

The first 499 production models of the LaFerrari were snapped up at a price of €1 million each. The price paid for the 500th, which is set apart by special livery including Italian flags front and rear and a white pinstripe running down the bonnet, is a record for a 21st century automobile at a public auction ... and money well spent given the worthy cause and the caliber of the car.

The auction by RM Sotheby's in conjunction with the National Italian American Foundation Relief Fund took place at the Daytona International Speedway in Florida on December 3.

Ferrari also took the wraps off a convertible version of the hypercar at the Paris Motor Show this year. But don't get your hopes up – all 209 examples of the limited edition LaFerrari Aperta were spoken for before the news was even made public.

Sources: RM Sotheby's, National Italian American Foundation

View gallery - 2 images