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Ferrari 250 GTO heading to The Quail with no reserve

It's not every day that a Ferrari 250 GTO changes hands. It is, after all, one of the most highly coveted cars ever made, and there were only 39 of them built in the first place. So when one goes up for sale, it tends to fetch millions. Tens of millions, actually, and the prices keep escalating.
Throughout most of the 1980s they were trading hands for six figures. In 1989 one sold for $10 million. A few months later, $13 million. Prices fluctuated in the 90s, but by 2012, one sold for a whopping $35 million, eclipsed the following year at $52 million. Nobody knows what the next one will sell for, but we're about to find out.
That's because Bonhams has got one consigned for its upcoming auction at the Quail Lodge during Monterey weekend next month. And it's offering it without reserve, meaning that it could sell for the opening bid (however unlikely), it could break the previous record or it could land anywhere in between or beyond.

Ferrari recalling 85 LaFerraris under two separate campaigns [UPDATE]

Of the recalls we see on a regular basis, million-dollar exotic supercars don't often pop up. But that's exactly what we have on our hands today as Ferrari North America and the National Highway Traffic Safety Administration have issued a pair of recalls for all 85 examples of the flagship LaFerrari hybrid hypercar in the United States. The first of the recall campaigns revolves around the headrests, which "may not absorb the required amount of energy" and therefore fail to comply with the federal safety requirements. The issue involves the larger L32 seat supplied by Lear, fitted as standard for the passenger and optional for the driver's seat. Addressing the issue will require dealers to replace the headrests. The second recall involves the Tire Pressure Monitoring System, which – in the event of a puncture – will display the wrong message. Instead of telling the driver not to proceed on the punctured tire, as apparently required under federal regulations, the system would (as currently programmed) tell the driver to keep driving, but not above 50 miles per hour. Ferrari dealers will need to update the software to fix the problem. These recalls do not represent the first time Ferrari has called in the hybrid hypercar over a potential safety issue. This past March, owners were offered the opportunity to have the fuel tanks replaced. However, unlike these latest campaigns that are being handled in coordination with the NHTSA, Ferrari insisted that the previous fuel tank issue did not constitute a recall. UPDATE: Ferrari North America confirms that no accidents or injuries have been reported to have resulted from either of these issues, which will be addressed in other markets as well - including Canada, where a further 11 units are affected. In order to fix the seat issue, "a small insert will be added to the back of the (large size only) seat headrest." Rectifying both issues "will take approximately an hour of service." Related Video: RECALL Subject : Headrest Impact Energy Absorbtion/FMVSS 202a Report Receipt Date: MAY 22, 2015 NHTSA Campaign Number: 15V305000 Component(s): SEATS Potential Number of Units Affected: 85 Manufacturer: Ferrari North America, Inc. SUMMARY: Ferrari North America, Inc. (FNA) is recalling certain model year 2014-2015 LaFerrari vehicles manufactured May 15, 2014, to March 4, 2015. The affected vehicles have L32 seats as standard equipment for the passenger seat and as optional equipment for the driver seat.

1964 Ferrari 250 LM sets Arizona auction record at $9.6 million [w/video]

We've seen some high-priced metal come up under the hammer in Arizona over the years, but the one you're looking at right here is the most expensive ever sold during the famous auction weekend. It's a Ferrari 250 Le Mans from 1964, the ninth of just 32 examples made. And RM Auctions just sold it for $9,625,000. That doesn't make it the most expensive Ferrari ever sold at auction, or even the top price paid for a 250 LM: according to figures from Sports Car Market, the same auction house has handled the top five highest-grossing 250 LMs of all time, including the 1965 Le Mans winner that sold in New York in 2013 for $14.3 million and another that sold last August in Monterey for $11.5 million. But it does make this example, according to RM, "the most valuable automobile sold in Arizona auction history." One of the earliest mid-engined Ferraris, the 250 LM was the last of Maranello's Le Mans winners. This particular example, chassis number 5899 GT, was sold by the factory to the famed Swiss racing team Scuderia Filipinetti, winning the Sierre-Montana Crans Hill Climb fresh out the box, followed immediately by another win at the XV Coppa Inter-Europa at Monza – both at the hands of Ferrari F1 and Le Mans drivers. After Filipinetti was done with it, 5899 GT was displayed at the Geneva Motor Show, was sold off the stand and changed hands a few more times – including one owner who oddly replaced the bodywork with that of a Porsche 906 Carrera 6 and another who swapped out the engine. It went on to win many more races, and was ultimately reunited with its original engine and proper bodywork. Restored several times over, 5899 GT was certified ten years ago by the Ferrari Classiche department and was even displayed at the factory museum in Maranello. The 250 LM wasn't the only noteworthy lot RM sold this weekend in the Frank Lloyd Wright Ballroom at the Arizona Biltmore, though. Several other Ferraris sold in the millions, from a '67 275 GTB/4 that sold for $3.6 million to a 2005 FXX Evoluzione for $1.6 million. The '71 Lamborghini Miura SVJ that was tipped to break the $2-million mark ultimately sold for under $1.9M, and the '84 Audi Sport Quattro ultimately dropped right in its estimate range at $401,500. All told, RM sold 90 percent of the metal it was consigned for the event, bringing in a whopping $63.7 million in sales. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.