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1962 Ferrari 250 GTO Sells For $38 Million At Auction

A 1962 Ferrari 250 GTO became the most expensive car ever sold during an automotive auction Thursday night when a buyer paid $38 million for the vehicle at a Bonhams event. Only 39 of the racers were ever built, and it is a favorite among collectors. One reportedly sold for $52 million in a private sale. If true, it would be the most expensive car ever purchased. Another Ferrari GTO built for legendary racecar driver Stirling Moss sold for $35 million in 2012. Thursday's sale broke the auction record set at a Goodwood auction last year of a Mercedes W196R that was driven by Juan Manuel Fangio to wins in the 1954 German and Swiss Grand Prix races by $8 million. Pretty good for a car that went to the auction block with no reserve, meaning there was no minimum price set for the sale of the car, though bidding started at $11 million, according to the Los Angeles Times. The Ferrari 250 GTO was the star of the show, but it wasn't the only rare Ferrari on the auction block. Bonhams brought ten of the most collectable Ferraris in the world on stage, including a 1962 250 GT Short-Wheelbase Speciale Aerodinamica that went for $6.875 million, a 1953 250 Mille Miglia Berlinetta driven to racing victory by Phil Hill for $7.26 million and even a 1978 312 T3 Formula One car for $2.31 million. All told, the Ferraris sold for $65.945 million, according to Autoblog.

The real Wolf of Wall Street's Ferrari Testarossa is for sale

In 2013, acclaimed filmmaker Martin Scorsese profiled the rise and fall of financial crook Jordan Belfort in the movie The Wolf of Wall Street, with Leonardo Di Caprio in the lead role. Now you can own an automotive piece of that fascinating real-life tale by buying Belfort's 1991 Ferrari Testarossa. According to the seller, Belfort bought the Ferrari in New York in 1991. He must not have driven it very much, though. There have been other owners since him, but the Testarossa still has only covered 8,300 miles. With its white exterior, your friends might think you're trying to emulate Sonny Crockett from Miami Vice, and the interior has beige leather, which still looks to be in great condition. To prove Belfort's ownership, the sale comes with his name and address in the warranty book and on supply invoices. There's even a set of matching luggage, and the seller allegedly found a $50 bill in one of the bags' lining. Even if Belfort didn't drive the Testarossa too much, he might have had some fun with it. According to the listing, "it was involved in a 'Wolf' moment as early as the original test drive." However, the seller will only tell the next buyer what that means. Belfort's Testarossa is currently for sale in Monaco for an undisclosed price, but as a car formerly used in the United States, it might not be too hard to bring back. If you do decide to buy Belfort's Ferrari, remember to treat The Wolf of Wall Street as a cautionary tale. Related Video:

Montezemolo steps down, Marchionne steps up as chairman of Ferrari

If the history of an automaker is divided up by the mandate of its leadership, then this is surely the end of an era for Ferrari. After repeatedly locking horns with Fiat Chrysler CEO Sergio Marchionne over a variety of issues, longtime Ferrari chairman Luca di Montezemolo has announced his resignation.
Montezemolo has a long history with both Fiat and Ferrari. He started his career at the former before moving over to the latter in 1973 (only a few years Fiat took over half of Ferrari), starting out as Enzo Ferrari's assistant. He was appointed head of the Scuderia the following year, driving the team to success and subsequently taking over all of the Fiat group's racing activities. After the Prancing Horse marque struggled in the wake of its founder's death in 1988, Montezemolo was appointed to take it over in '91 and has been at the helm ever since.
Following Fiat chairman Gianni Agnelli's passing in 2003, both Montezemolo and Marchionne were named to the Fiat board. A year later, after the passing of Gianni's younger brother Umberto, Montezemolo was named chairman of the Fiat Group (to be succeeded six years later by Agnelli heir John Elkann) and Marchionne its chief executive.