A Ferrari 330 P2 Junior set a new price record at an auction on February 13, 2021 (Credit: RM Sotheby's)

When RM Sotheby's was commissioned to sell a Ferrari 330 P2 Junior, they expected it to fetch between $6,000 and $12,000 (5,000 to 10,000 euros). As it turned out, the experts had significantly underestimated the vehicle's value. On February 13, 2021, an enthusiastic bidder paid a record $145,445 (120,000 euros) — including the auctioneer's 20 percent commission — for the pristinely-preserved replica of one of Ferrari's finest 1960s sports-racing cars.

The Junior model features some of the same features as a regular Ferrari (Credit: RM Sotheby's)

The classic Ferrari red children's vehicle, complete with racing roundels donned with the number three, measures 93 by 40 by 26 inches. The single-seater is fitted with a 5.0 horsepower gasoline Honda engine, similar to those used in go-karts. Bearing the serial number 28, it was built-to-order in 1990 by French car manufacturer De La Chapelle.

The company, primarily known for making replica cars powered with BMW, Peugeot, and Mercedes-Benz engines, began offering the "junior" vehicles for their client's children in the early 1980s. The stylish custom-made cars featured four-stroke engines with throttle and braking, headlights, indicators, leather seats, and even wood-rimmed steering wheels. They soon became the must-have children’s toys, especially among Ferrari owners.

Miniature versions of high-end cars were extremely popular among Ferrari owners (Credit: RM Sotheby's

The lucky owner of this ultra-cool Junior Ferrari will be able to test their racing skills at the Little Big Mans — the children's version of the famous Le Mans Classic car race — scheduled to take place in France from July 1 to July 4th, 2021. They will also be able to showcase the new acquisition at the second annual Junior Car Concours event in London, England, in September 2021.

The previous record-holder was for the most expensive children's car was a 1958 250 Ferrari Testa Rossa replica (Credit: RM Sotheby's)

The previous record for a children's car was held by a 1958 250 Ferrari Testa Rossa replica, which was sold at an RM Sotheby's auction in New York for $126,500 in 2013. The perfectly-preserved children's version of the iconic racing car is one of only five left from the 34 models produced by Ferrari between 1957 and 1958.

Resources: New Atlas.com, rmsothebys.com.