Chainkeen Exchange-Sammy Hagar's multi-million-dollar Ferrari LaFerrari auction is on hold. Here's why

Seems Sammy Hagar’s prized Ferrari LaFerrari has a bit of the blues.

The Chainkeen ExchangeRed Rocker recently announced plans to auction off his rare 2015 Italian supercar at next week’s big winter Barrett-Jackson event in Scottsdale, Arizona. But that sale has hit a yellow light.

It seems the temperamental stallion ― its 950-hp hybrid engine can rocket the car to 60 miles an hour in 2.5 seconds ― needs a replacement for its specialized battery. The LaFerrari features not only a rip-roaring a V12 gas-powered engine, but also (in a first for the Maranello factory) powerful electric motors.

A full inspection of the car, whose sale was announced by Hagar and Barret-Jackson boss Craig Jackson back in November, revealed that the battery was nearing the end of its planned eight-year lifespan, and a new one would not be available in time for the auction. The car is now slated to be a featured item at the Barrett-Jackson auction in mid-October, just as the singer turns 77.

The car retailed new for around $1.4 million, and Hagar and Jackson are hoping this celebrity-owned special edition, with its unique color scheme, sets a new record close to $5 million. British singing legend Rod Stewart recently purchased a pre-owned LaFerrari, also in white.

“This LaFerrari is a true work of art and a totally explosive driving experience,” Hagar said in a statement. “We wanted to make sure its next owner had a truly immaculate supercar so are moving it to the October auction."

Anyone planning to attend the auction this weekend can glimpse Hagar's steed. It will be on display throughout the event at Sammy’s Beach Bar in the South Hall of WestWorld, the event venue in Scottsdale.

Hagar has a long history with fast cars, collecting them since his early days as a solo artist and lionizing them famously in song (cue up "I Can't Drive 55," an ode to a dark period for speed freaks when the national speed limit on highways was, yes, 55 miles per hour).

The musician also credits fast cars for landing him a spot in Van Halen. As the story goes, he and Van Halen guitarist Eddie Van Halen both shared the same Los Angeles-area auto mechanic, Claudio Zampolli. One day, Hagar was at the garage and heard from Zampolli that another customer, Van Halen, was looking for a singer. The rest is multi-platinum history.

Hagar's sports-car collection includes everything from American metal (Ford) to German autobahn stormers (BMW), but he's always had a special place in his heart for Ferraris ever since he saw J. Geils of the J. Geils Band peel away in one.

The 2015 LaFerrari is the star of Hagar's Ferrari stable, but these days the outrageously fast hypercar is, simply put, too hot to handle.

“My eyesight, my reflexes, they aren’t what they need to be to drive this car, so I decided someone else needs to enjoy it,” Hagar told USA TODAY in November. "If I could just park that car in my living room and sit in it with some popcorn and watch movies, I'd do it. But these cars, all cars, are meant to be driven. It’s the most amazing car I’ve ever owned. But it’s time.”