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$11.55 million 1964 Ferrari 250 LM highlights RM Auctions' first night in Monterey

Some of the biggest auto auctions of the year are held during the weekend of the Pebble Beach Concours d'Elegance. Millionaires gather in hopes of outbidding their contemporaries for incredibly rare cars. As Bonhams' record sale on Thursday of a 1962 Ferrari 250 GTO for $38 million showed, these days the world's most expensive vehicles are found at auctions, often with a prancing horse on the nose.
RM Auctions' Friday sale reinforced this even more when a 1964 Ferrari 250 LM topped the evening by bringing in $11.55 million, after the 10 percent commission. It wasn't the only million-dollar vehicle of the event, though. A 1965 Ford GT40 Roadster Prototype garnered $6.93 million, and a 1966 Shelby Cobra 427 brought $1.705 million. Even a classic 1948 Tucker 48 had a final price of $1.57 million.
Surprisingly, some rather new cars actually brought in quite big money, too. A 2013 Bugatti Veyron 16.4 Vitesse Le Ciel Californien sold for $2.42 million, and a 2006 Ford GT with just 13 miles sold for $407,000.

Luca doesn't believe in electric cars, but Ferrari will build more hybrids

Confirming what we'd long suspected, the hybrid powertrain in the Ferrari LaFerrari was not a one-time thing. "I don't believe in the electric cars, but I strongly believe in hybrids," Ferrari boss Luca Cordero di Montezemolo tells Bloomberg. It's unclear when we'll see another hybrid Ferrari, though, as the automaker's current lineup is quite fresh - the oldest model is the California, which was updated for the 2013 model year - but make no mistake, there are more electrified cars coming from Maranello. "The answer is yes," Montezemolo told Bloomberg when asked about hybrids, although he was quick to add "without exceeding." It's that last part that is key for enthusiasts of the gas engine.
Ferrari's move towards hybrid powertrains reflects a pair of trends in both the political and motorsports spheres. Politically, automakers, even exotics, are being pushed to produce cars with cleaner emissions, or in many cases, no emissions at all. Look no further than the Range Rover Hybrid, which was just announced. Formula One's push towards hybridization and smaller engines is also informing decisions at Ferrari, with the LaFerrari already using hybrid tech already inspired by the sport.
Still, it's reassuring to know that while Ferrari is pushing forward with future technologies, that the gas engine won't go the way of the manual transmission in Maranello - at least in the near term.

$3M Ferrari FXX K already sold out [w/videos]

When Ferrari took the wraps off its new FXX K track machine in Abu Dhabi last week, it conspicuously left out some key details. Sure, the Prancing Horse marque told us how much power it produced, and what it had done to the aero package to make it hug the track even closer than the road-going LaFerrari on which it's based – but it didn't tell us just how fast it will go, or how much it will cost. The latest reports, however, seek to fill in those blanks. According to Ferrari marketing chief Nicola Boari in speaking to Top Gear, the FXX K will lap the company's Fiorano test track in 1 minute 14 seconds. That would make it five seconds faster than the LaFerrari, a solid second ahead of the 599XX Evoluzione and two seconds faster than the original FXX. However it seems to fall short of the eight- to nine-second gap those previous XX derivatives opened up over the road-going models on which they in turn were based. So it seems, for the time being at least, that the 1:11.9 lap time recorded by the 333 SP – an open-cockpit sports prototype from the late 1990s – will remain for now the fastest car this side of an F1 racer ever to lap the circuit. The outright record stands at under 56 seconds and belongs to Michael Schumacher in the ten-cylinder F2004 he drove to his seventh and final world championship. As for the FXX K's production, Top Gear reports that Ferrari will build fewer than 40 of them, and that they've all been spoken for – at a price of ˆ2.5 million (more than $3M) apiece. If you're not one of those forty fortunate souls to have put down their deposit, your best chance to see this rare beast in its natural habitat (at least until one of the XX track days hits a race track near you) are the live images above and the handful of videos below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.