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Ferrari 250 GTO may have set new sale record at $52M

Records are made to be broken, and it seems that one may have just been snapped again. An Italian website is reporting that a Ferrari 250 GTO, owned by American collector Paul Pappalardo, recently sold for $52 million.
Now, this is far from confirmed - Pappalardo responded to questions about the sale saying, "I do not confirm these things, I have no comment about!" - and if it's a private sale, it's unlikely that we'll ever know the exact amount of the transaction. If that figure is correct, though, it easily eclipses the $35 million made in a 250 GTO sale in April of 2012, as well as the $27.5-million sale of a 1967 Ferrari 275 GTB/4 NART Spider sold at RM's Monterey auctions in August.
What makes a car that had 39 examples built more valuable than one that had only 10 units produced? Racing pedigree. The 250 GTO is a racing legend, with each car having a unique provenance that is more than enough to add some serious value. According to 0-100.it, the GTO in question, 5111GT, found its first owner in French racer and winner of the 1964 24 Hours of Le Mans, Jean Guichet, back in 1963. The Frenchman used the V12-powered racer to win the GT category of the Tour de France Automobile in that same year.

Aston Martin hires Ferrari's 'key guys' to challenge 488 GTB

Aston Martin is wasting no time in its aggressive product rollout, and it's putting Ferrari and other supercar makers on notice. At the recent launch of the DB11 V8 in Catalonia, Spain, we caught up with Aston Martin CEO Andy Palmer. The Aston chief gave us new details on plans for a mid-engine car to go up against the Ferrari 488 GTB, the McLaren 720S and the Lamborghini Huracan. Palmer says Aston has harnessed a great deal of learning from the $3 million Valkyrie hypercar and plans to apply that to its next mid-engine car, slated to land sometime in 2020 or so. As indicated in part of our conversation below, design plans for that car are developing quickly. Autoblog: You said there will be a forthcoming mid-engine sports car. I still think the Ferrari 488 GTB is one of the best I've driven. How do you compete with that? Andy Palmer: "Well, I agree with you. That's the best car in its segment. And we're going to take it on. And I realize the gravity of that statement, of what that means." AB: So how do you take on the 488 GTB? AP: "Well, to start with, you recruit from Ferrari the head of body structures, and the head of powertrains. I've now got three of Ferrari's key guys. And really, it's a big compliment to Ferrari. That's the defining car in its segment, and it's really, really good. And those three guys now work for me. And you combine those guys with Nick [Lines, chief planning officer, Aston Martin] and Marek [Reichman, chief creative officer, Aston Martin] who you know really well, and you create some great recipes. And now I've got a better understanding of what that car looks like." AB: How far along is that car? Is there a clay model already? AP: "Yeah, there's clay. There's actually eight quarter-scales. And there's one in particular that I'm leaning toward. We've got it pushed out; it's gone to a second studio in Milton Keynes. That studio is different from Gaydon. And I've got a pretty good idea of what the replacement for the 488 is going to be like as well. So, if we're going in that market, we need to be ahead of the 488. And there's no naivete about what that means." View 16 Photos One of the recruits Palmer is referring to is Max Szwaj, former head of innovation and body structures at Ferrari and Maserati. Szwaj has been named vice president and chief technical officer in his new role in Gaydon.

Max Verstappen beats Charles Leclerc to win Austrian Grand Prix

SPIELBERG, Austria — Red Bull's Max Verstappen won the Austrian Grand Prix after beating Ferrari's Charles Leclerc in a wheel-banging battle of the 21-year-olds on Sunday, subject to a Formula One stewards' enquiry. The Dutchman's victory for the second year in a row at Spielberg also dealt champions Mercedes their first defeat of the season. Verstappen seized the lead from Leclerc, who had led from pole position, two laps from the end with the dueling pair making contact into the tight uphill turn three as the crowd roared. Race stewards investigated the contact after the race, and ultimately cleared Verstappen. He crossed the line, acclaimed by thousands of orange-shirted Dutch fans at a circuit owned by Red Bull, 2.7 seconds ahead of the Monegasque. The pair were the sport's youngest ever top two. Valtteri Bottas was third for Mercedes, who saw their streak of 10 successive wins — eight this season — come to an end. Championship-leading teammate Lewis Hamilton, winner of the previous four races, finished fifth and behind Ferrari's Sebastian Vettel. Five-times world champion Hamilton remains well in front in the standings, 31 clear of Finland's Bottas after nine of 21 races. HONDA FIRST The victory was the first for a Honda-powered car since Britain's Jenson Button won in Hungary in 2006 for the Japanese manufacturer's own team, and a welcome antidote to last weekend's dull French Grand Prix. Verstappen, now with six career wins, was also the last driver to beat Mercedes — in the Mexican Grand Prix last October. "For Honda to win again here is incredible," said the youngster, who had to fight back from eighth at the end of the first lap after getting bogged down on the front row at the start. The Red Bull came into a league of its own after the pitstops with Verstappen scything through the field one car at a time and then chasing down Leclerc. "After that start, I thought the race was over," said Verstappen. "It's hard racing, otherwise we have to stay at home. If those things are not allowed in racing, then what's the point of being in Formula One," he added when asked about the summons. The Monegasque, forced wide as Verstappen went through, said he would let the stewards decide. "On the incident for me it was pretty clear in the car," he said. "I don't know what it looked like from the outside but we'll see what the decision is.