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Ferrari Classiche brings priceless crashed 250 GTO back to life [w/video]

When a car is worth millions of dollars, you don't simply write it off when it's damaged – you have it painstakingly repaired. But when that car's worth tens of millions, there's hardly any expense to be spared in its restoration. So after a rare Ferrari 250 GTO crashed a couple of years ago during a special event, its owner (presumably at the behest of his insurance company) sent the damaged specimen back to the factory for a full restoration to its original condition. The Ferrari in question, GTO No. 3445, is owned by American collector Christopher Cox, who was driving it during a special tour in France organized for the legendary sports racer's 50th anniversary when he collided with another car – fortunately not another one of the GTOs on the road – inflicting significant damage on the highly coveted collector's item. That was two-and-a-half years ago, and shortly after the accident, Cox entrusted it to the Ferrari Classiche division, which is responsible for restoring classic Prancing Horses and certifying their authenticity. Now the repairs and restoration are complete, right down to the Swedish blue and yellow livery it was originally give in April 1963 by Ulf Norinder and the number 112 he gave it for the 1964 Targa Florio. Spending over two years restoring a single automobile may seem like overkill to most, but considering the $52 million said to have been paid the last time a GTO traded hands, and the $30 million spent on the one before that, suddenly two years doesn't seem like that long after all. Watch the reconditioned car undergoing its final, post-restoration shakedown around the Fiorano circuit in the video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Lady in Blue A stunning 250 GTO is restored by the Classiche department Maranello, 28 November 2014 – One of the stars of the tracks of the 1960s was a Ferrari 250 GTO which has just emerged from a two-year-plus renovation at the Ferrari Classiche department, ready to return to its owner in America. During its stay in Maranello, the car was restored to the original engine and bodywork configuration in which it was delivered to Bologna-based publisher Luciano Conti in 1962. The latter also drove it in its maiden race, the Bologna-Passo della Raticosa. The Volpi era. In June 1962, however, Chassis no. 3445 was sold to Count Giovanni Volpi di Misurata, a passionate racing driver, who competed under the S.S.S.

Lil Wayne's daughter gifted Ferrari GTO, BMW X4 for 16th birthday [w/video]

It must be nice to have ludicrously rich parents. Rapper Lil' Wayne's daughter Reginae recently celebrated her 16th birthday with a huge party in Atlanta. Where many teens would be overjoyed just to get a family hand-me-down for a first car, the rapper's daughter got two brand-new vehicles – a BMW X4 and a Ferrari 599 GTO. The X4 would certainly be extravagant by itself, but it's not totally without precedent. Anyone who watched even a snippet of MTV's old show My Super Sweet 16, probably saw a few vehicles that were just as expensive. However, the concept of any newly licensed teen behind the wheel of a Ferrari is absolutely terrifying to us. This one is even crazier, with 661 horsepower and a chassis capable of lapping Ferrari's Fiorano test track quicker than an Enzo. Of course, with just 599 built, Reginae could probably just park the coupe and let it appreciate enough to finance her next big party. The BMW is reportedly going to be her daily driver, anyway. According to TMZ, Reginae's mother and stepfather bought her the Ferrari with Lil' Wayne's blessing. They believe their daughter can handle the 599 GTO, which shows some serious – if misguided – trust. Check out the video below to see the cars and her party. Related Gallery 2015 BMW X4 View 55 Photos Related Gallery Ferrari 599 GTO View 15 Photos News Source: TMZ via YouTube BMW Ferrari Car Buying Ownership Videos ferrari 599 ferrari 599 gto

Ferrari dominated classic car auctions in 2014

If it seems to you that the prices being paid for top collector classics at auction keep ratcheting up, you're right. In fact in the US alone, some $1.3 billion were spent on collector cars this past year – a $100 million increase over 2013's tally. And much of that was made up of Ferraris. In fact vintage Prancing Horses accounted for nine out of the ten most expensive cars sold at auction in 2014 – and their prices went up by some 43 percent. The headline of the year, of course, was the 250 GTO which Bonhams sold in Monterey for over $38 million, setting a new world record. But impressive as that was, the GTO wasn't the only eight-figure Ferrari auctioned off this year. On the same week, RM sold a 265 GTB/C Speciale for $26.4 million. Bonhams sold a 375-Plus for $18.4 million at Goodwood, Gooding got $15 million for a 250 GT California Spider, RM raked in $11.5 million for a 250 LM and another $10 million for Steve McQueen's 275 GTB/4. The rest of the list was populated by another 250 California, another 275 and a 250 Mille Miglia, each of which sold for around $8 million apiece. That's the list reported by Ferrari itself, but while the top prices listed on Sports Car Market differ slightly, any way you slice it, the top ten slots are still taken by Maranello's finest. (Hagerty, for its part, reported a slightly different list a few days ago, with eight of the top slots taken by Ferraris and two by Ford GT40s.) Oh, and in case you're wondering, the tenth car on the list was not a Mercedes – the only marque that has traded places with Ferrari for the top place any year since the turn of the millennium. No, this year, the list was rounded out by the pristine white McLaren F1 that Gooding sold for $10.75 million at Pebble Beach this year, slotting in just above the McQueen 275. News Source: Ferrari, Sports Car MarketImage Credit: Ferrari Ferrari Auctions Classics record