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Ferrari 250 GTO heading to The Quail with no reserve

It's not every day that a Ferrari 250 GTO changes hands. It is, after all, one of the most highly coveted cars ever made, and there were only 39 of them built in the first place. So when one goes up for sale, it tends to fetch millions. Tens of millions, actually, and the prices keep escalating.
Throughout most of the 1980s they were trading hands for six figures. In 1989 one sold for $10 million. A few months later, $13 million. Prices fluctuated in the 90s, but by 2012, one sold for a whopping $35 million, eclipsed the following year at $52 million. Nobody knows what the next one will sell for, but we're about to find out.
That's because Bonhams has got one consigned for its upcoming auction at the Quail Lodge during Monterey weekend next month. And it's offering it without reserve, meaning that it could sell for the opening bid (however unlikely), it could break the previous record or it could land anywhere in between or beyond.

Meet the man whose house is designed around his car

It's been a couple of years since we last heard about Holger Schubert and his award-winning office/garage, but it looks like the city of Los Angeles, thankfully, did not force him to tear down the bridge that gives his Ferrari 512 BBi arguably the nicest parking spot in California. Petrolicious is back again with another well-done video, which finally introduces us to Schubert as well as his lust-worthy Ferrari.
As for the structure, it is half garage and half work space with an office, couch, bookshelf and television, and one hell of a view. There is a ramp that raises to allow the Ferrari to roll backward out of the garage before starting up on the aforementioned bridge that sits 16-feet above the ground. The car itself is an equally admirable piece of art, with a wedge-like shape and its reserved dark gray hue. If you're not the jealous type, scroll down to meet Schubert and his incredible Ferrari.

Fiat gives outgoing Ferrari chairman $35M severance package

Luca di Montezemolo may not have wanted to leave Ferrari this way, but don't feel too bad for the departing chairman, because he'll be hitting the ground with a golden parachute so big that he'll never have to work again.
According to the latest reports, Fiat will pay Montezemolo 26.95 million euros (nearly $35 million) in severance pay. A little more than half of that will be paid in a lump sum of 13.71 million euros ($17.7M, equivalent to five times his annual salary) on January 31, 2015, with the rest to be paid within the next 20 years.
The payment is contingent on Montezemolo not going to work for a competitor, so don't expect to see him replacing Stephan Winkelmann at Lamborghini or Wolfgang Dürheimer at Bugatti any time soon. At least not until March 2017. Of course with that much cash on hand, the 67-year-old marquis need never work again, but considering how busy he's used to keeping himself, we'd be surprised if he didn't pop up again somewhere.