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1964 Ferrari 250 LM expected to net $12-15 million at RM's NY auction

If you're one of the very fortunate souls that has $12 to $15 million burning a very large hole in your pocket, we've found the perfect way to liberate yourself from the burden of so much money - buy this Ferrari, which is being put up for auction. It's a supremely rare Ferrari 250 LM, the 24th member of a 32-car run, that rolled off the assembly line on what we imagine was a brilliant, sunny Italian summer's day in July of 1964.
Officially known as Chassis 6107, this 250 LM is rare because unlike its brothers, it wasn't originally bought to be a race car. Its first owner used it more or less as a toy, both around town and on the infamous Mulholland Drive, in California. After a pair of owners, it found its way into the hands of an Ecuadorian pair, who kicked off its racing career. Its best result was at the 1968 24 Hours of Daytona, where it finished eighth overall and first in class, although subsequent runs at Daytona and Sebring were less successful. Its most recent owner was a Japanese collector, who purchased the car in 1983 and has had it on display ever since.

Leno drives Henry Ford II's all-original '52 Ferrari 212 Barchetta

The story of the relationship between Henry Ford II and Enzo Ferrari is absolutely fascinating. The two great men of the auto industry had what appeared to be a burgeoning friendship until Ferrari pulled out of a deal to sell his company to Ford in the '60s. The latest car featured in Jay Leno's Garage is a 1952 Ferrari 212 Barchetta that tells the very beginnings of that story.
This Prancing Horse was a gift to Ford from Enzo when the two companies were first thinking about merging, according to the curator of the Petersen Automotive Museum. Ferrari really wanted to show off its best so instead of the 212's normal V12, this car was fitted with the larger 2.7-liter unit from a Ferrari 225. The car has been almost unaltered since then. It still wears its original paint, and it's tires date back to 1954.
The great thing about the Petersen is that unlike a lot of auto museums, the people there actually drive the cars and keep them in working order. Once on the road with Leno behind the wheel, this Ferrari really sings. Unfortunately, he can't open it up too much because the 60-year-old tires really hold things back. Scroll down to watch this amazing piece of automotive history and learn it's possible effect on the styling of the original Ford Thunderbird.

Ferrari worth over $11 billion, says Marchionne ahead of IPO

We all know that cars from Ferrari sell for hundreds of thousands, if not millions of dollars. But how much is Ferrari worth as a company? At least ten billion, according to its chairman. Speaking at the launch of the revised Fiat 500 in Turin on Friday, Fiat Chrysler CEO and Ferrari chairman Sergio Marchionne said he expected the vaunted Maranello-based supercar manufacturer and racing team to be valued at over 10 billion euros, or about $11 billion at current exchange rates. As Bloomberg points out, that would make Ferrari alone account for some 60 percent of the value of its parent company Fiat Chrysler Automobiles, which is currently valued at over 16 billion euros. That may seem like an aggressive estimate, but we won't have to take Marchionne at his word for long. After having floated an Initial Public Offering on the New York Stock Exchange last year, Fiat Chrysler is preparing to do the same with its Ferrari unit as soon as October. FCA will not, of course, be selling off all of its shares. The projected scheme would have ten percent (worth about one billion by Marchionne's estimates) of Ferrari's shares floated on the NYSE. Another 10 percent is expected to remain in the hands of founder Enzo's son (and company vice chairman) Piero Ferrari's hands. The remaining 80 percent is slated to be distributed among Fiat Chrysler's existing stakeholders.