Ferrari, Mercedes and Porsche pay €50 million for auction rights to historic cars

By DANIEL POPE and ALISTER WALSHBERGThe German automaker and the British carmaker Porsche have agreed to pay €60 million ($70 million) for the rights to a collection of iconic sports cars including the Ferrari 458 Italia and Porsche 918 Spyder.

The two companies will now hold a public auction in Berlin, where bidding for the cars has already begun.

Auctioneer Stefan Wieland said the two companies had been looking at the collection since 2013.

The sale of the cars, which are estimated to be worth about €50m, was originally scheduled for next year but was delayed after a series of issues, including delays in the delivery of the car and the financial difficulties of the companies.

The cars were auctioned off in a private sale at auction in Munich in July 2017.

The winning bidder will also receive a 20% stake in the company.

The German and Swiss companies had planned to sell the cars at auction, but a deal was delayed as the companies struggled to find financing.