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Seven-figure cars highlight day one of RM's Monterey auction

RM Auctions is one of several houses holding auctions during the Monterey weekend, and Friday night's festivities got quite pricey. Seven-figure vehicles were not at all uncommon during the first day of the two-day event, with the 1953 Ferrari 375 MM Spider, seen above, crossing the block for $9,075,000.
Other big earners included a pair of rare Ferraris, a 1950 166 MM Barchetta and a 1955 750 Monza Spider, which took $3,080,000 and $4,070,000, respectively. Outside of the red Italians, a 1939 Mercedes-Benz 540K Special captured $7,480,000 while a stunning, color-appropriate 1955 Jaguar D-Type took $3,850,000. We've got images of these vehicles, and a few other stunning examples of last night's auction, in the gallery above.
Thought it seems impossible, tonight's auction is expected to see even more high-dollar action. The winner of the 2012 Pebble Beach Concours, a 1928 Mercedes-Benz 680S Torpedo Roadster is expected to command over $10 million. Also crossing the block will be a car we reported on a few weeks back - a supremely rare 1967 Ferrari 275 GTB/4 NART Spyder. One of only 10 in the world, it's expected to take anywhere from $14 to $17 million when it hits the stage tonight.

Ferrari names new F1 car F138

Don't call it the F150. Ferrari has officially announced it will name its newest Formula One car the F138. The machine is the 59th car Ferrari has built to compete in F1, and it's also the last of the company's F1 efforts to rely on a high-strung V8 for propulsion. F1 rules have changed for next year, forcing competitors to use smaller cylinder counts to get around the track. Ferrari has already said it will use a 1.6-liter turbocharged V6 to do its dirty work. That moves brings an end to the eight-year reign the V8 enjoyed.
Ferrari isn't saying much more about the 2013 car, and the only image we have to go on at the moment is the logo you see above. Stay tuned for more information, and in the interim, be sure to check out the painfully brief press release below.

Ferrari California T is a topless turbo turismo

As expected, Ferrari has today officially pulled the covers off the latest version of its front-engined California grand tourer ahead of the car's impending live debut at the Geneva Motor Show. The headline news, again as expected, is a new 3.9-liter turbocharged V8 engine. Ferrari promises zero turbo lag from its innovative new engine, which is rated at 560 horsepower and 557 pound-feet of torque.
That's 70 more horses than the last California, which, coupled with its 49-percent increase in torque, allows the new California T to accelerate from 0-62 miles per hour in 3.6 seconds. Fuel mileage is improved by 15 percent, and emissions are down 20 percent. Also, for what it's worth, Ferrari promises "the most exhilarating soundtrack any turbo has ever yielded." Sounds pretty good to us...
There's plenty more of interest besides the new turbocharged engine, such as the retractable hardtop that turns the four-seater into a convertible in 14 seconds, improved steering response, reduced roll and pitch when cornering and carbon-ceramic brakes.