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Ferrari and Jaguar dominate the 2017 Arizona Auctions

The 2017 Arizona Auctions took place this past weekend, and one look at the results should be a reminder that big-name auto auctions are no place for mere mortals. Aside from the fast paced nature – seven auction houses moved 3,486 vehicles across the auction block – the rarest and most desirable cars sold for more than most people will make in a lifetime. There were around 20 cars that sold for at least $1 million, with Bonhams topping the list with a $7,370,000 1963 Jaguar E-Type Lightweight. Despite $259.8 million in sales, Hagerty reports that 2017 was only the second biggest weekend in the Arizona auction's long history. The figure was up $9 million from 2016's total, but much of that increase can be attributed to the 12-percent increase in the total number of cars auctioned. The average selling price was $89,601, with the vast majority of vehicles selling for less than $100,000. Aside from the 1963 Jaguar E-Type, there were a number of rare and noteworthy vehicles for up for grabs. RM Sotheby's $6,600,000 1939 Mercedes-Benz 540K Special Roadster was the runner-up in value, followed closely by a $6,380,000 1952 Ferrari 340 America Competizione Spider from Bonhams. The various top-10 lists were awash with Ferraris and other European automakers, though much of the lower-end sales were populated by classic American autos. Most of the top sellers were built before 1970, though the occasional newer model (1995 Ferrari F50, 2005 Porsche Carrera GT, 2006 Ford GT) made it through. Based on 2017's overall theme, it appears that interest on cars from American automakers is on the rise. Hagerty notes that a number of 1980s American sports cars like the Chevrolet Corvette and Pontiac Firebird did surprisingly well. Look for the 2018 auctions to see if the momentum continues. Related Video:

Ferrari embroiled in legal battle over 21-year-old's Facebook page

Ferrari is facing a court battle in Switzerland due to alleged copyright infringement over taking over a Facebook fan site. If the suit is successful, it could cost the company millions and harm its reputation on social media.
Sammy Wassem started the Facebook fan page for Ferrari when he was 15 and eventually grew it to over 500,000 followers. In 2009, the company congratulated the him on the site's success, but said that "legal issues" forced it to take over the administration, according to Automotive News Europe. Wassem could still use the site, but managers had oversight.
Wassem asked Ferrari for financial compensation to keep working on the page but continued creating content on it for the next four years. Eventually, the company terminated his administration rights, and In 2013, the he and his father Olivier filed the lawsuit against the business alleging it owes payment over 5,500 hours of work and copyright infringement for taking over the page. They are asking for 10 million Swiss francs ($11.3 million).

Jay Leno gets five of Ferrari's greatest hits together for an epic track day

America's favorite car guy, Jay Leno, isn't a huge fan of Ferrari. But even he can't stop from gushing over five of Ferrari's greatest cars. Thanks to David Lee, a Ferrari collector and watch dealer, Leno got to drive a Ferrari LaFerrari around a track with the Enzo, F50, F40, and 288 GTO close behind. The short five-minute clip has Leno driving conservatively behind the wheel of the LaFerrari and cautiously enjoying the supercar's 950-horsepower hybrid powertrain. Lee brings up the rear of the Ferrari train in his 288 GTO, while his brothers took the other three Italian supercars onto the track for a leisurely drive. Lee, who is an avid Ferrari collector that brought Leno his 1967 275 GTB4 to drive earlier this year, drives these Ferraris regularly and is extremely passionate about the brand. Despite not being one of Ferrari's biggest fans, Leno has nothing but good things to say about the LaFerrari. The five Ferraris are some of the most sought-after vehicles of all time, and for good reason. The supercars represent the best that Ferrari could do at each of those moments in time. Though it looks like Leno and Lee are going painstakingly slow, they're surrounded by an estimated value of $12 million worth of Italian metal. With a new season of Jay Leno's Garage set to premiere tomorrow at 10 p.m. Eastern Time on CNBC, we're expecting more more footage from this Ferrari fest. Related Video: News Source: Jay Leno's GarageImage Credit: Jay Leno's Garage / YouTube Celebrities Ferrari Coupe Hybrid Lightweight Vehicles Racing Vehicles Performance Supercars Classics Videos Jay Lenos Garage ferrari laferrari ferrari f40