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1962 Ferrari 250 GTO hits record $38 million sale at Bonhams' Monterey auction

This weekend's Pebble Beach Concours d'Elegrance brings together some of the rarest and most expensive automobiles in the world onto a tiny peninsula in California jutting out into the Pacific Ocean. But this year, there has been one vehicle on everyone's lips - a 1962 Ferrari 250 GTO. Bonhams put up this incredibly rare Prancing Horse at no reserve for its auction at the Quail Lodge, meaning it could have sold for just a dollar. It didn't though, this ex-Jo Schlesser owned Ferrari sold for a staggering $38.115 million. That makes it the most expensive car ever sold at auction, beating out Bonhams' sale of a Mercedes W196R last year for $29.65 million.
Ferrari only built 39 of these racers, and they have been million-dollar cars for years. One reportedly sold privately for $52 million last year, and one built for Stirling Moss went for $35 million privately in 2012.
While the spectacle of seeing a 250 GTO drive across the auction block with no reserve and then set a record price was certainly amazing, it wasn't the only rare Ferrari up for sale during the evening. Bonhams also handpicked some of the most collectible Ferraris in the world and brought them to the stage. The ten cars included 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 group of them sold for $65.945 million.

Ferrari IPO could come any day now

According to Bloomberg, Fiat Chrysler Automotive Sergio Marchionne told reporters at the Toronto Global Forum that the Ferrari IPO could come any day now. "We are days away from filing the prospectus," said Marchionne, who declined to confirm whether rumors of involvement from UBS Group AG, JPMorgan Chase & Co and Goldman Sachs Group were accurate. In addition to an expected filing in New York, Marchionne hinted that a secondary filing could take place in Milan, Italy. Although the FCA Chief Executive didn't offer any expected sum for Ferrari, he had previously suggested that an IPO for the iconic Italian brand could be worth $1 billion, ringing the registers to the tune of 10 percent of the company's $11 billion valuation. According to Bloomberg, that potential sum is significantly higher than its own internal figures indicate after taking a poll of analysts who we assume must know a heck of a lot more about such things than we do. Considering how close we apparently are to the actual filing, though, we probably won't have to wait long to find out. Another hot topic any time Sergio is the subject of reporter questioning is a potential merger with General Motors or another large, full-line automaker. It seems there aren't any new revelations to reveal on the consolidation front, though Marchionne told reporters there were no plans to mount a hostile takeover of GM or any "other, less optimal" partners. Related Video: News Source: BloombergImage Credit: STR/AFP/Getty Earnings/Financials Chrysler Ferrari Fiat Sergio Marchionne FCA

US Customs takes break from crushing Skylines, returns stolen Ferrari [UPDATE]

Update: A spokesperson from US Customs and Border Protection told Autoblog more details about the case. The thieves "completely removed the '81 VIN, and changed it to the '82 VIN," the spokesperson said. "The true VIN was identified through secondary numbers." US Customs and Border Protection often gets a bad rap among auto enthusiasts for the agency's propensity to crush fun cars, including Minis, Land Rovers, and Skyline GT-Rs. However, the group also sometimes finds stolen classic vehicles just before they leave the country. For example, officers recently recovered a stolen Ferrari nearly 30 years after the owner reported it stolen. The 308 GTSi was on its way to Poland from the Los Angeles/Long Beach Seaport on April 8th, but the officers found something fishy. This Ferrari was supposed to be a 1982 308 GTS, but running a check indicated that the coupe with that VIN left the US for Norway in 2005. "This VIN discrepancy is what 'raised a red flag' and prompted further scrutiny," CBP LA/LB Seaport Port Director Carlos Martel said in a statement. The CBP contacted the California Highway Patrol and the National Insurance Crime Bureau. A Ferrari expert eventually identified the car as a 1981 308 GTSi. Once the authorities obtained the correct VIN, the system listed the Ferrari as stolen from a consignment lot in Orange County, CA, on July 19, 1987. Unfortunately, the original owner doesn't get to enjoy having the Ferrari back. The Prancing Horse now belongs to the insurance company because it paid off the claim on the car decades ago. It might be worth trying to buy the Ferrari again, though. The red 308 GTSi still looks like a beauty in CBP's photo, and coupe has only covered 45,000 miles since 1981. Stolen 28 Years Ago, CBP Seizes Classic Red Hot Ferrari Release Date: April 14, 2016 "Red Flag" Prompts FEAR Team Scrutiny LOS ANGELES — U.S. Customs and Border Protection (CBP) officers at Los Angeles/Long Beach (LA/LB) Seaport complex intercepted and seized a red 1981 Ferrari 308 GTSi, destined to Poland, on April 8. It was stolen 28 years ago, has 45K miles and an estimated value of $50K. red 1981 Ferrari 308 GTSi seized by CBP CBP officers at LA/LB seaport seized this 1981 Ferrari 308 GTSi, destined to Poland. It was stolen 28 years ago. Falsely manifested as a "1982 Ferrari", analysis of its purported vehicle identification number (VIN) revealed that the VIN was previously used for a 1982 Ferrari 308 GTS exported in 2005, from the U.S.