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Ex-Ferrari chairman sounds off on IPO

Former Ferrari chairman Luca di Montezemolo preferred to put exclusivity over profits when he ran the company, and the lower volume still meant huge amounts of cash for the business. FCA CEO Sergio Marchionne has since taken over Ferrari, but that hasn't stopped di Montezemolo from voicing his opinions. "I hope that the clients will remain more important than the analyst or the investor or the financial markets," di Montezemolo said prior to his induction into the Automotive Hall of Fame in Detroit, the Detroit Free Press reported. The former chairman argued that once on the stock exchange, a company would need to maximize profits quarter after quarter to keep investors happy. Conversely, di Montezemolo said Ferrari's years of success came from an "exclusivity in terms of number of cars, exclusivity in terms of how you deal with the clients." When di Montezemolo left Ferrari last year, he and Marchionne were scuffling about the future of the brand, including the health of the Formula 1 program. With the change in leadership, the company has reversed course in some ways. Where volume was previously kept around 7,000 units annually, the carmaker has set a new goal of closer to 10,000. The paperwork was filed for the IPO, and Marchionne thinks the company could be worth over $11 billion. The actual shares are rumored to go on sale in October. Related Video:

Ferrari 400 Superamerica Aerodinamico fetches record $4.4M

RM Sotheby's moved an impressive $38.6 million in vintage metal at Amelia Island this year. And the top lot was the sleek classic you see here. It's a 1962 Ferrari 400 Superamerica LWB Coupe Aerodinamico, and its $4.4 million final tally is a record for its type. That's well past what it was estimated to sell for, with pre-sale expectations ranging from $2.7-3.3 million. Sports Car Market records that the previous high-water mark stood only a few hundred grand less at $4.07 million, achieved by a similar example sold by Gooding & Company last January. This particular example was the show car at the 1962 Turin Auto Show and has belonged to Erwin Goldschmidt and his family for the past four decades. As much as it sold for, of course, the Superamerica wasn't the only lot on the docket at RM Sotheby's Amelia Island sale. Other top sellers included a 1984 Ferrari 288 GTO and '68 330 GTS that sold for $2.6 and $2.2 million, respectively, a Pagani Huayra that topped $2 million, and a Bentley R-Type Continental Fastback that went for a high bid of $1.8 million. There was even a highly sought-after 1985 Ford RS200 Evolution that found a new home for $522,500 and a 2003 Aston Martin DB AR1 that went for $363,000. Check out the action in the high-resolution image gallery above, the videos below, and the press release at bottom for the full recap. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video: BEST-OF-CATEGORY AUTOMOBILES DRIVE RM SOTHEBY'S $38.6 MILLION AMELIA ISLAND CONCOURS D'ELEGANCE SALE · RM Sotheby's generates $38.6 million in sales with 89 percent of all lots sold at its 18th anniversary Amelia Island, Florida sale · Top seller: 1962 Ferrari 400 Superamerica LWB Coupe Aerodinamico surpasses estimate at $4,400,000 to set new auction record · Bidders from 20 countries spur lively bidding contests, propelling numerous lots to above-estimate prices · Complete results from RM Amelia Island available online at www.rmsothebys.com · RM Sotheby's continues its global calendar of events in Monaco, May 14, during the Grand Prix Historique de Monaco weekend AMELIA ISLAND, Florida (13 March, 2016) – RM Sotheby's, the official auction house of the Amelia Island Concours d'Elegance, celebrated its 18th anniversary sale in Amelia Island yesterday (March 12) with $38,685,100* in sales and 89 percent of all lots sold.

$64M Ferrari 250 GTO could be a fake

Remember that Ferrari 250 GTO that we reported on last week, supposedly listed on mobile.de for $64 million? Well, don't go putting down your deposit just yet, because it might be a fake.
According to noted Ferrari expert Marcel Massini, the vehicle listed on the German used-car website is a replica. "I can tell you that with 100 percent certainty," Massini told CNBC. "I know where all of these cars are today. And this is not one of the original GTOs."
Of course "replica" is a relative term when it comes to 250 GTOs. Other authentic classic Ferraris are sometimes rebodied to look like a GTO, but while they're not real GTOs, they are real Ferraris. We reported on such an "Evocazione" example (pictured above) based on a '65 Ferrari 330 GT a few years ago, around the same time that Matt Farah came across one based on a 365 GTB/4 Daytona alongside a Ford GT as well.