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PEBBLE BEACH, Calif. — A rare Ferrari owned by former Lexington Mayor Eddie Smith Sr. is planned to be auctioned off for an estimated $14 million-to-$17 million.

The Lexington Dispatch reported that the 1967 Ferrari 275/4*S N.A.R.T. Spider is going to be auctioned off this weekend by RM Auctions in Pebble Beach, Calif.

Smith died in 2007 at the age of 88 and was described by the Dispatch as “one of Lexington’s most cherished rags-to-riches examples of the American dream.”

The car’s offers a long detailed description of Smith’s life, including his love of cars and his purchase of the Ferrari. The money raised will reportedly go to charity.

The Dispatch reported that Smith was an orphan raised at what is now the American Children’s Home. He started a mail order hosiery company and made his fortune as an adult.

Read full story: The Lexington Dispatch