WATCH: Crazy auction fail as 1939 Porsche Type 64 remains unsold

Auction house RM Sotheby's ended up with 'egg on their faces' at a classic car auction in California when there was confusion when the auctioneer said the incorrect price at the beginning of the bid, according to a report by the Guardian

The auctioneer opened the bidding at $30-million and that figure was displayed on the digital board, and the bidding quickly rose to $70-million after which the auctioneer said he meant $17-million and not $30-million.

The number on the screen was changed to reflect $17-million as the crowd booed and some people walked out, Bloomberg News reported. 

No further bids were placed, and the auction came to an abrupt end. RM Sotheby's lists the Type 64 as unsold on its website. 

The 1939 Type 64, was built by Ferdinand Porsche at a time when the company was a designer for Volkswagen. VW supplied the engine and most of its parts, with other components bought from Fiat, according to Bloomberg.  

Watch the fiasco unfold here: