12 Feb, 2015 @ 10:12
1 min read

Spain’s ex-king Juan Carlos hands ‘excessive’ Ferraris over to state

Royal ferraris auctioned off

THE Spanish government is selling two Ferraris worth over €500,000 each which are considered too extravagant a gift for former monarch King Juan Carlos I. Ferrari

The money raised from the auction will go to the state as if the cars had been confiscated.

The government of the United Arab Emirates presented the two cars to Juan Carlos in 2011 during the Dubai F1 championships.

The proceeds of one car went to the state last November and the Spanish Ministry of Hacienda and Public Administration recently agreed to follow suit with the second.

One of the vehicles had never been used but the other was fully equipped for Spanish roads and was used until it was donated to Patrimonio Nacional in 2012.

Juan Carlos was not obliged to donate the luxury cars but his son, King Felipe VI, enforced a new etiquette prohibiting the acceptance of excessive gifts when he came to the throne last year.

Iona Napier

DO YOU HAVE NEWS FOR US at Spain’s most popular English newspaper - the Olive Press? Contact us now via email: newsdesk@theolivepress.es or call 951 273 575. To contact the newsdesk out of regular office hours please call +34 665 798 618.

1 Comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

devinder victor kainth op exclusive
Previous Story

Police studying Sotogrande one-punch murder CCTV footage

SushiSpain e
Next Story

Recipes for romance

Latest from Business & Finance

Go toTop

More From The Olive Press

Spain's Emeritus King Juan Carlos asks London court to throw out damages claim from ex-lover

Spain’s disgraced former king Juan Carlos I will publish his memoir next year

JUAN Carlos, Spain’s disgraced and exiled former king, has announced

Spain’s F1 star Carlos Sainz signs for Williams on a two-year deal after four seasons with Ferrari

CARLOS Sainz has announced he will sign for Williams at