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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 F12 Berlinetta auction raises $1.5M for Hurricane Sandy relief

Ferrari has managed to raise $1.5 million for victims of Hurricane Sandy during an auction in Austin, Texas for the very first F12 Berlinetta in the US. The funds will go to the American Red Cross and be earmarked for Hurricane Sandy relief. Ferrari started bidding on the F12 at $315,888, but the most powerful production model from the company fetched $1.125 million by the time the gavel fell through bids sourced both in person and over the phone. The company also managed to raise a further $345,000 in in-kind donations before the auction began, and donors gave an additional $50,000 during the event itself.
Ferrari debuted the F12 Berlinetta at the 2012 Pebble Beach Concours d'Elegance, and the company is set to deliver its first model to a US customer in the second quarter of 2013. The automaker reminds its fans that it is still possible to donate to the Hurricane Sandy relief fund by visiting a special Ferrari section of the American Red Cross page. You can take a closer look at the full press release below for more information.

This 1959 Ferrari 250 GT LWB California could sell for $17 million

Ferraris of all stripes typically command high prices, but the ones that bring in the serious money always have at least one of a few things behind them: additional rarity, racing heritage, famous ownership. This 1959 Ferrari 250 GT LWB California Spider definitely has at least two, and arguably three. The car is one of just eight built with an aluminum body. It also participated in Le Mans, taking home third place for its class, and fifth place overall. Finally, it was campaigned by the Ferrari North American Racing Team, typically referred to as N.A.R.T. As a result, RM Sotheby's estimates this Ferrari roadster will sell for between $14 million and $17 million. Supporting the high valuation are other important things car collectors look for. The car has been certified as authentic by Ferrari's official classic department. It's also won its class at Pebble Beach after its first restoration was completed in 1983. It was restored again between 2010 and 2011 to bring it back to its original race-ready paint scheme. Besides the car's extensive history, it's a gorgeous machine. The 250 GT California line is one of the more iconic from Ferrari, thanks in part to a red replica being the star car of "Ferris Bueller's Day Off." The silver and blue color combination is unique and works great. It should also be a superb driver, with a race-prepped engine and notably lighter body. According to RM Auctions, the seller says it's excellent to drive, and if that's him in the pictures, we'd say his smile confirms his claims. The car goes on the block Dec. 6 at RM Sotheby's auction in New York City. To paraphrase Mr. Bueller himself, if you have the means, we highly recommend picking this one up. Related Video: Featured Gallery 1959 Ferrari 250 GT LWB California Spider Competizione by Scaglietti View 30 Photos Image Credit: Diana Varga courtesy of RM Sotheby's Motorsports Ferrari Auctions Convertible Racing Vehicles Classics ferrari 250 gt california north american racing team