Jerry Seinfeld Actually Did Sell His $25 Million Le Mans Porsche

Jerry Seinfeld passed up a big payday in January at the Mecum Auctions event in Kissimmee, Fla., when a $25 million bid for the 1969 Porsche 917K from the film “Le Mans” that he’d owned since 2001 failed to meet an undisclosed reserve, but he didn’t have to wait long to make a deal.

Seinfeld was on a recent episode of the “Spike’s Car Radio” podcast hosted by his writing collaborator, Spike Feresten and explained what happened.

Feresten was with Seinfeld when he first found the car in what he described as a warehouse near La Cieniga and Wilshire boulevard in Los Angeles. A previous owner had paid $1.3 million for it the year before, but Seinfeld never said what he paid.

Seinfeld said bringing it to the auction was meant more to promote it and that he didn’t necessarily expect it to sell on the block.

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“The auction, obviously, is a type of advertising, with an item like this that has a global appeal and we have no idea where a potential interested party might be, it could be anywhere in the world,” he said, going to explain that discussions with interested parties continued after the auction and a deal was made. “It was just some people don’t want to buy it in that frenzied moment of an auction, they want to do it after and that’s what happened.”

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The agreed upon price wasn’t revealed, but he said it was isn the ballpark of the $25 million bid. He also said he didn’t even watch the auction while it was going on and wasn’t nervous about it.

“I’m a carefree guy, you know, whatever happens, happens, I’m not going to lose money,” he said.

As for what he’ll be spending the money on, he told Feresten he probably won’t buy another car because his collecting days are winding down.

“I’m on the other side,” he said.