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$11.55 million 1964 Ferrari 250 LM highlights RM Auctions' first night in Monterey

Some of the biggest auto auctions of the year are held during the weekend of the Pebble Beach Concours d'Elegance. Millionaires gather in hopes of outbidding their contemporaries for incredibly rare cars. As Bonhams' record sale on Thursday of a 1962 Ferrari 250 GTO for $38 million showed, these days the world's most expensive vehicles are found at auctions, often with a prancing horse on the nose.
RM Auctions' Friday sale reinforced this even more when a 1964 Ferrari 250 LM topped the evening by bringing in $11.55 million, after the 10 percent commission. It wasn't the only million-dollar vehicle of the event, though. A 1965 Ford GT40 Roadster Prototype garnered $6.93 million, and a 1966 Shelby Cobra 427 brought $1.705 million. Even a classic 1948 Tucker 48 had a final price of $1.57 million.
Surprisingly, some rather new cars actually brought in quite big money, too. A 2013 Bugatti Veyron 16.4 Vitesse Le Ciel Californien sold for $2.42 million, and a 2006 Ford GT with just 13 miles sold for $407,000.

Ferrari rated world's most powerful brand ahead of Apple

Ferrari has nabbed the honor of becoming the world's most powerful brand from Apple. According to Brand Finance, the Italian automaker earned the highest rating among all brands on the Global 500 list despite being worth considerably less than its competition. But the ranking takes into account more than just a company's bottom line. Brand Finance also looks at margins, average revenue per customer and less tangible notions like brand affection and loyalty.
There's no disputing those latter two categories, and this year saw Ferrari enjoy the best financial results in the automaker's history. In 2012, the company's revenue jumped by eight percent to 2.43 billion euro thanks in part to a 4.5 percent increase in deliveries worldwide.
Meanwhile, Apple squeaked out ahead of Samsung to earn the top spot as the most valuable brand at $400 billion. You can check out the Brand Finance press release below for more information.

Ferrari 412 picks up a teak cargo bed

While marques like Porsche and Lamborghini having already branched out into SUVs, with Bentley and Maserati soon to follow, Ferrari remains one of the few high-end automakers that refuses, for better or worse, to follow suit. But the boys in Maranello never said anything about a pickup.
That's precisely what we have here, although as you might have guessed, this was not (unlike the similar treatment BMW applied to the previous M3) a factory-authorized conversion. Instead it was undertaken by the London Motor Group, parent company to the London Motor Museum and London Supercar Workshop. It's based on a late-80s Ferrari 412, the 2+2 coupe that preceded the 456 GT, which in turn was replaced by the 612 Scaglietti and then the FF, itself Ferrari's first hatchback. In other words, it comes from a line that was ripe to mark a first in terms of Ferrari body-styles.
The one-off retains the 4.9-liter V12 and just about everything forward of the cabin. But behind it's got a three-foot pickup bed lined in teak. The London outfit also gave it a twin-barrel hood scoop, variable exhaust and a custom Bang & Olufsen sound system to round it out. The vehicle is set to feature on the History Channel's Ultimate Wheels, alongside a VW camper, Ford Mustang, Group B-inspired Audi and a unique Bristol.