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1962 Ferrari 250 GTO auctioned for a record $48 million

As anticipated, the 1962 Ferrari 250 GTO chassis number 3413 made some serious money at the RM Sotheby's auction at Pebble Beach. As the hammer came down at $48.2 million, the Ferrari became the most valuable car ever sold at auction; it made the Goldeneye Aston Martin DB5 look like a used DB7 in comparison. Last night, racing legend Derek Bell drove the Ferrari onstage, and bidding was opened at a breathtaking $35 million. Three bidders were involved in the sale, and the complete sum including fees came to $48,405,000. The auction house knew it was going to be expensive, having estimated the car at more than $45 million in June. It handsomely topped an earlier Ferrari 250 GTO record of $38 million. The Ferrari, the third one out of a 36-car production run and complete with significant racing history, has a numbers-matching powertrain and a Scaglietti-built Series II body. It has been with its previous owner since 2000, and the last time it was sold it commanded $7 million. The $40-million bump in value is simply incredible, Ferrari 250 GTO or not. And all this time the car hasn't just sat, appreciating; it has been seen in numerous classic events, in actual use. Related Video: Featured Gallery 1962 Ferrari 250 GTO at RM Sotheby's Monterey Auction View 10 Photos Image Credit: RM Sotheby's Ferrari Auctions Performance Pebble Beach ferrari 250 gto 1962 ferrari 250 gto ferrari auction

Ferrari 288 GTO to be auctioned by Mecum in Monterey

If you're a rather affluent person attending the Pebble Beach Concours d'Elegance this year, you may want to set aside some spending money. Mecum is offering this gorgeous Ferrari 288 GTO at its Monterey auction. For those that don't know about the 288 GTO, it is one of Ferrari's greatest supercars, frequently compared with its successor, the F40. The car was originally developed for the fast and dangerous Group B rally racing class and featured a twin-turbocharged 2.8 liter V8 making 400 horsepower. Not only that, but the steel tube-frame chassis was draped in cutting-edge carbon fiber and Kevlar body panels. This particular model has just over 11,000 kilometers on the clock. If anyone of us at our office had it, that number would be multiplied a few times over. And it would likely be a reasonably comfortable driver, since this one has the option package that added air conditioning, a stereo and power windows. The stereo might be a tad superfluous considering the likely sonorous powertrain in this machine. The car also carries certification from Ferrari's in-house certifier and restorer, Ferrari Classiche. All this could be yours provided you have the cash to back up your bids. Mecum is expecting the 288 GTO to bring between two and three million dollars. This falls in line with Hagerty Insurance's average valuation of $2,350,000. That sum is a significant jump from five years ago when Hemmings estimated a good model going for about $650,000. Related Video:

Ferrari launches F14 T and yet another Formula One nose

Ferrari CEO Luca di Montezemolo said of the 2014 Formula One season, "It's time to win." This is the chassis that's meant to do it, and it is also Exhibit C in this wild, function-over-form F1 pre-season: the Ferrari F14 T. The low, trunk-like snout is another imagining of the year's regulations, after the probing proboscides found on the McLaren and in the image of the coming Williams. The public name of the chassis internally called 665 was chosen by Ferrari's social media fans, F14 T referring to the brand, the year and the turbocharged powerplant, not the McDonnell-Douglas F14 Tomcat.
The 60th Ferrari to contest an F1 season, it keeps the pull-rod front and rear suspensions of cars from the last two years but little else. The narrower front wing, having to package and cool the additional power unit equipment, reworking the rear wing and even moving to brake-by-wire has changed every other aspect of the car.
Fernando Alonso is hoping the F14 T will make the fifth time the charm; in his fifth year with the team, he wants to win the championship this year instead of coming in second again, just like Michael Schumacher won his first title with Ferrari after five years with the team. Our guess is that Kimi Räikkönen has no opinion on anything other than winning races and getting paid for it. A press release below offers a number of details, while the high-res gallery above to can help prepare you for what's coming.