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$8.8m '58 Ferrari 250 GT California Spider highlights RM's Arizona auction

All manner of vehicles change hands at the annual auction extravaganza in Arizona, but never has one sold for as much as the Ferrari you see here. The car in question is an (obviously) eminently desirable 1958 Ferrari 250 GT LWB California Spider, one of only 50 ever made and purring onto the stage in flawless red over black livery with matching numbers of the coveted covered headlights straight from the factory.
When we reported on the car's consignment in anticipation of this weekend's sale, it was expected to bring in between $7 and 9 million - and it's done just that, coming in near the top of its valuation with a winning bid of $8.8 million. That makes for a lot of zeros, but while it set a new record for the Arizona auctions, it hardly makes it the most expensive in the world. That honor still belongs to the Mercedes-Benz W196 that sold last summer for nearly $30 million. Nor is it the most expensive Ferrari ever sold at auction, an honor which still belongs to the 250 Testa Rossa that sold for over $16 million in 2011. Heck, it's not even the most expensive 250 California ever sold, coming in behind the SWB example that sold for nearly $11 million in 2008. All of which only goes to show just how insane the collector classic car market has grown in recent years.
The California was undeniably the highlight of RM's two-day sale, but was joined by several other seven-dollar lots, including a 1961 Porsche 718 ($2.75 million), a Ferrari 250 GT Lusso ($2.44 million), a Duesenberg Model J convertible ($2.2 million) and several other million-dollar Ferraris, Mercedes and a '35 Hispano-Suiza. A 1961 Chaparral 1 failed to reach its reserve price despite a high bid of $1.75 million, neither did a 1966 Porsche 906 Carrera 6 at $1.18 million or a Ferrari 275 GTB/4 at $2.85 million. RM Auctions did, however, manage to sell 85 percent of those lots consigned to bring in a massive two-day total of $45.56 million in sales, details of which you can read in the press release below.

LaFerrari Spider among Maranello's future product plans

Niche though its products may be, Ferrari typically rolls out a new model every year. 2009, for example, saw the introduction of the California. In 2010 came the 458 Italia, followed by the 458 Spider in 2011. In 2012 we greeted the FF, and in 2013 both the F12 Berlinetta and 458 Speciale. This year the hyper-exotic LaFerrari was joined by the California T, and you can bet that Maranello will keep up that pace by rolling out new versions of and replacements for each of these models in succession.
Among the plans which Car and Driver reports Ferrari has afoot will be an open-top LaFerrari Spider - something which the Prancing Horse marque hasn't done at the top of its range since the F50, which came exclusively with a removable hardtop. The 6.3-liter hybrid V12 will likely carry over unchanged, as will most of the other parameters, but for the joy of experiencing 1,000 horsepower with the wind in your hair - and the exclusivity of being one of the just 50 owners - we're told to expect a price tag roughly double that of the existing $1.35 million coupe.
Of course, Ferrari has more plans than simply chopping the roof off its hybrid hypercar. In Geneva next March, the House that Enzo Built is tipped to introduce a Modificato version of the 458 with a twin-turbo V8 producing around 670 horsepower - over one hundred horses more than in the new California T. A refresh for the all-wheel-drive FF is also said to be underway for 2016, when it will receive a less awkward roofline and the possible addition of a V8 base version alongside the V12 that will remain naturally aspirated. As it will in the updated F12 due the following year.

Race Recap: 2014 British F1 Grand Prix readjusts the balance of power

Qualifying for the British Formula One Grand Prix was just as much a surprise for fans as it was for teams. Certain team weather radar displays didn't accurately pinpoint storm systems over the track, and in the case of at least two teams, the lack of data was compounded by poor decision making. That's how both Ferraris and both Williams got kicked out of qualifying in Q3 - the drivers already on track took advantage of a dry spell between rains, but Ferrari and Williams waited too long to get back out, and by the time they did it had started raining again.
Rain-induced bewilderment hit the front of the field as well. When all appeared resolved in Q3 but the clock hadn't yet run down to zero, drivers including Lewis Hamilton and Daniel Ricciardo pulled into the pits thinking the day was done. However, a drying last sector of the Silverstone circuit meant the drivers still out could suddenly improve their times by four seconds in just that sector. When the bell tolled, those who fought to the last were those who lined up first: Nico Rosberg in the first Mercedes AMG Petronas, Sebastian Vettel in the first Infiniti Red Bull Racing, Jenson Button in the McLaren, Nico Hülkenberg in the first Force India and Kevin Magnussen in the second McLaren.
Hamilton had fallen all the way to sixth on the grid, a mortifying blow to his race and his championship challenge. He was followed by Sergio Perez in the second Force India, Ricciardo in the second Infiniti Red Bull Racing, Toro Rosso teammates Daniil Kvyat and Jean-Eric Vergne completing the top ten.