Ferrari auction raises funds for Japan relief

Car lovers came together for a good cause at the Italian Embassy in Tokyo on Monday.

More than 200 people participated in a Ferrari charity auction, which raised more than 500,000 euros, or about $723,000 at current exchange rates. Proceeds will benefit the city of Ishinomaki, which was severely hit by the earthquake in Japan in March.

Items up for auction included shirts signed by the Scuderia Ferrari Marlboro Formula One racing team and the first Ferrari FF on the Japanese market.

The bidding for the FF was won by Tokyo architect Masaharu Seno.

With the money collected, Ferrari will build a school in Ishinomaki. This initiative is a first for Ferrari and will mark the first 35 years of Ferrari in Japan.

By Julie Alvin