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		</div><p>Two Ferraris given as gifts to former king Juan Carlos are to be auctioned off by the Spanish government, with starting prices of about €350,000 each.</p>
<p>The two Ferrari FF four-seater models are on display this week for potential buyers. The Finance Ministry says they will be auctioned on November 6. Bidders will have to put down deposits of about €17,500.</p>
<p>The hardly used cars, one black and the other silver grey, were given to Juan Carlos by the United Arab Emirates in 2011.</p>
<p>The ministry said that the king donated the Ferraris to the National Heritage institution in 2012, which passed them onto the ministry.</p>
<p>Juan Carlos stepped down last year after a four-decade reign, leaving the throne to his son Felipe.</p>
<p>The money gained in the auction will go into state coffers.</p>
<p>The FF models normally go for about €300,000, but buyers must wait several months to receive the car, Guillermo Barrigon Trufero, director of the luxury vehicle World Touring Car showroom in Madrid, said.</p>
<p>He said that the auction starting prices were likely higher as the cars could be picked up sooner and were also a collector’s item given they belonged to the former king.</p>
<p>The royal palace said such a donation was not unusual and was in line with the royal family’s code of good conduct and less ostentation of recent years.</p>
<p>The gifts had come during a period when Spain was in the throes of a severe economic crisis.</p>
<p>Juan Carlos stepped down last year after a four-decade reign, leaving the thrown to his son Felipe.</p>
<p>The last part of his reign had been marked by several scandals, including one in which he sparked public anger after he took a secret elephant hunting trip to Botswana in 2012.</p>
<p>Felipe pledged to restore public trust in the monarchy on taking the throne.</p>
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