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Ferrari 250 GTO could fetch as much as $75 million at auction

Last month we reported on a Ferrari 250 GTO heading for the auction block at Pebble Beach. We knew at the time it would break records and bring in tens of millions of dollars. But now that the gavel is about to drop, it looks like even our projections could fall short.
According to a report on Bloomberg, citing the classic car authorities at Hagerty Insurance, the GTO in question (pictured above) could fetch upwards of $60 million and as much as $75 million when the auction takes place two days from now in Monterey, CA.
Hagerty's reported estimate would not only blow the previous records out of the water, but would eclipse the pre-sale estimate attributed to Bonhams, the auction house handling its sale, which placed its value between $30 million and $40 million.

'Ferrari' is an oft-banned search term in China, but why?

The Internet has been a boon for car enthusiasts; after all, information about any car ever made is available at a few taps of the keyboard, whenever you'd like. Unfortunately, some Chinese motor heads are not quite as lucky because state censors have been intermittently banning searches for Ferrari on the country's micro-blogging sites, according to Time.
The problem has nothing to do with Maranello's supercars; it's what they represent. The Prancing Horse has become the symbol for so-called "princelings," wealthy young Chinese who use their parents' privileges in the Communist elite to afford luxuries.
The first bout of censorship came in 2011 when the son of then-high-ranking politician Bo Xilai was spotted cruising around Beijing in a red Ferrari, a vehicle much more expensive than he should have been able to afford. It started trending on Chinese social media, and censors began blocking searches for Ferrari in the car's red color. The Italian brand was censored again briefly in 2012 when a Chinese investor crashed his Prancing Horse into two other cars in Singapore.

Ferrari threatening to fine journalists $69,000 for breaking LaFerrari embargo?

In automotive journalism, we deal with embargoes on a regular basis. For the uninitiated, these are agreements between publications like Autoblog and manufacturers. While news embargoes (where pubs are provided with information and images and agree to hold until a predetermined date) are fairly common, today, we're focusing on drive embargoes. These are what we generally end up signing when we attend a vehicle launch. Generally, these are in the media's best interest. As drive programs are spread out over a week or two with multiple different "waves" of media, drive embargoes put the biggest and smallest publications on level footing when it comes to publishing reviews.
According to a report from Autocar's Steve Sutcliffe, Ferrari has taken its drive embargo for the LaFerrari hypercar a bit too far. See, initial reviews from the few publications that attended the drive event for the hybrid-powered monster can hit the newsstand or internet on April 30. Originally, syndicated stories - those sold by freelancers or publications to other outlets - couldn't be published until May 12. These syndicated reviews are big money for larger magazines and, in the case of freelance journalists, are a primary source of revenue. Inexplicably, though, Ferrari has pushed the syndication embargo back to May 26, which is bad news for everyone involved (aside from Ferrari).
This could have been nothing more than an annoyance. The stories would still get sold (although it might be for a bit less coin, considering the initial reviews will be nearly a month old) and you'll still be bombarded by reviews of the LaFerrari not once, but twice, just as Ferrari planned.