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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.

LaFerrari Spider among Maranello's future product plans

Niche though its products may be, Ferrari typically rolls out a new model every year. 2009, for example, saw the introduction of the California. In 2010 came the 458 Italia, followed by the 458 Spider in 2011. In 2012 we greeted the FF, and in 2013 both the F12 Berlinetta and 458 Speciale. This year the hyper-exotic LaFerrari was joined by the California T, and you can bet that Maranello will keep up that pace by rolling out new versions of and replacements for each of these models in succession.
Among the plans which Car and Driver reports Ferrari has afoot will be an open-top LaFerrari Spider - something which the Prancing Horse marque hasn't done at the top of its range since the F50, which came exclusively with a removable hardtop. The 6.3-liter hybrid V12 will likely carry over unchanged, as will most of the other parameters, but for the joy of experiencing 1,000 horsepower with the wind in your hair - and the exclusivity of being one of the just 50 owners - we're told to expect a price tag roughly double that of the existing $1.35 million coupe.
Of course, Ferrari has more plans than simply chopping the roof off its hybrid hypercar. In Geneva next March, the House that Enzo Built is tipped to introduce a Modificato version of the 458 with a twin-turbo V8 producing around 670 horsepower - over one hundred horses more than in the new California T. A refresh for the all-wheel-drive FF is also said to be underway for 2016, when it will receive a less awkward roofline and the possible addition of a V8 base version alongside the V12 that will remain naturally aspirated. As it will in the updated F12 due the following year.

Ferrari and Jaguar dominate the 2017 Arizona Auctions

The 2017 Arizona Auctions took place this past weekend, and one look at the results should be a reminder that big-name auto auctions are no place for mere mortals. Aside from the fast paced nature – seven auction houses moved 3,486 vehicles across the auction block – the rarest and most desirable cars sold for more than most people will make in a lifetime. There were around 20 cars that sold for at least $1 million, with Bonhams topping the list with a $7,370,000 1963 Jaguar E-Type Lightweight. Despite $259.8 million in sales, Hagerty reports that 2017 was only the second biggest weekend in the Arizona auction's long history. The figure was up $9 million from 2016's total, but much of that increase can be attributed to the 12-percent increase in the total number of cars auctioned. The average selling price was $89,601, with the vast majority of vehicles selling for less than $100,000. Aside from the 1963 Jaguar E-Type, there were a number of rare and noteworthy vehicles for up for grabs. RM Sotheby's $6,600,000 1939 Mercedes-Benz 540K Special Roadster was the runner-up in value, followed closely by a $6,380,000 1952 Ferrari 340 America Competizione Spider from Bonhams. The various top-10 lists were awash with Ferraris and other European automakers, though much of the lower-end sales were populated by classic American autos. Most of the top sellers were built before 1970, though the occasional newer model (1995 Ferrari F50, 2005 Porsche Carrera GT, 2006 Ford GT) made it through. Based on 2017's overall theme, it appears that interest on cars from American automakers is on the rise. Hagerty notes that a number of 1980s American sports cars like the Chevrolet Corvette and Pontiac Firebird did surprisingly well. Look for the 2018 auctions to see if the momentum continues. Related Video: