MIAMI — Rare and exotic cars from around the world were on display at the ninth annual Miami Concours on Sunday.

The red-carpet event in Miami’s Design District attracted thousands of people. One of the cars on display was a one-of-a-kind bright red Ferrari P4/5.

“This is a car that, you know, is probably priceless -- you could say it’s a $50 million, $60 million or $70 million car,” said John Temerian.

It’s considered the world’s rarest Ferrari and can reach top speeds of 225 miles per hour. However, if you’re looking for speed, some Bugattis or Koenigseggs can go as fast as 300 miles per hour.

“You could probably say the Koenigsegg Jesko, which is down there, or maybe one of the Bugattis,” Temerian said.

Jim Glickenhaus gave Local 10 News a tour of a center-driver, three-seater with a 6.2-liter twin-supercharged V8 engine.

“So it’s all carbon fiber,” he said. “It’s U.S.-legal, it has bumper protection on it, and it has a front lifter so you can clear speed bumps.”

The interior of the car has an old-school look.

More than 100 hypercars were on display, and a brand-new Porsche was unveiled on the East Coast for the first time.

Craig Robins, CEO of Dacra Development, said it took extensive planning and logistics to bring the event together in the heart of Miami’s Design District.

“The event today is one of the most exciting things we do each year,” Robins said. “We roll out red carpets and showcase these amazing cars integrated into the area’s architecture and design.”

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