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1962 Ferrari 250 GTO auctioned for a record $48 million

As anticipated, the 1962 Ferrari 250 GTO chassis number 3413 made some serious money at the RM Sotheby's auction at Pebble Beach. As the hammer came down at $48.2 million, the Ferrari became the most valuable car ever sold at auction; it made the Goldeneye Aston Martin DB5 look like a used DB7 in comparison. Last night, racing legend Derek Bell drove the Ferrari onstage, and bidding was opened at a breathtaking $35 million. Three bidders were involved in the sale, and the complete sum including fees came to $48,405,000. The auction house knew it was going to be expensive, having estimated the car at more than $45 million in June. It handsomely topped an earlier Ferrari 250 GTO record of $38 million. The Ferrari, the third one out of a 36-car production run and complete with significant racing history, has a numbers-matching powertrain and a Scaglietti-built Series II body. It has been with its previous owner since 2000, and the last time it was sold it commanded $7 million. The $40-million bump in value is simply incredible, Ferrari 250 GTO or not. And all this time the car hasn't just sat, appreciating; it has been seen in numerous classic events, in actual use. Related Video: Featured Gallery 1962 Ferrari 250 GTO at RM Sotheby's Monterey Auction View 10 Photos Image Credit: RM Sotheby's Ferrari Auctions Performance Pebble Beach ferrari 250 gto 1962 ferrari 250 gto ferrari auction

Marchionne: all-electric Ferrari 'an obscene concept'

At the 2016 Geneva Motor Show, Ferrari Chairman Sergio Marchionne told reporters that Ferrari is not interested in building an all-electric car. "With Ferrari, it's almost an obscene concept," were his exact words. He added, "You'd have to shoot me first." This brings to mind another quote, this from Enzo Ferrari himself: "Aerodynamics are for people who can't build engines." Ferrari is, in its heart of hearts, an engine company. As Enzo Ferrari also said, "I build engines and attach wheels to them." Ferrari engines are beautiful things, as are the cars they power. There's a reason the Italian automaker displays its powerplants in its cars under glass like precious works of art. Of course, Ferrari did end up focusing on aerodynamics despite Enzo's remark. In racing as in business, you adapt or you get left behind. If you visit Ferrari's website, you can find a section on innovation. It's clear that the automaker prides itself on its technological advances (including aerodynamics, of course). It also values being a leader. "Each new model brims with technological innovation," it says, "solutions that pave the way for the rest of the industry and which are often picked up by other manufacturers at a later date." Ferrari follows nobody. The Italian marque may pride itself on being a holdout. As an automaker, it does things in the spirit of Ferrari, which is to say in the spirit of Enzo Ferrari. Former Ferrari Chairman Luca di Montezemelo said in 2011, "You will never see a Ferrari electric because I don't believe in electric cars, because I don't think they represent an important step forward for pollution or CO2 or the environment." Sports car manufacturers — Ferrari included — turn to electrification not just for efficiency, however, but also for performance. An electric motor can do certain things that an internal combustion engine simply can't. Who doesn't like being able to summon up loads of torque the very instant they first put a little pressure on the gas pedal? EVs can be spectacular to drive. Take the Mercedes-Benz SLS AMG Electric Drive and the Tesla Model S as proof of that. Marchionne's argument comes down to sound. He was not thrilled by the aural experience of driving a Tesla. Anyone with ears loves the sound of a Ferrari engine. Enzo said, "Race cars are neither beautiful nor ugly. They become beautiful when they win." While he was speaking about a car's visual aesthetic, it certainly applies to a car's sound profile as well.

Ferrari 488 Special Series V8 named Pista in leaked photos

Ferrari Photo Page leaked Ferrari's presentation of the 488 Special Series last month. Today, the site's Instagram has what appear to be press shots of the coming Ferrari that reveal the coupe's name: 488 Pista. The word "Pista" means "track" in Italian, and it would be the next peak in the lofty range already notable for the 360 Challenge Stradale (Road), 430 Scuderia (Team), and 458 Speciale (Special). We also get a few potential specs, namely a rumored 721 horsepower. If the press photos are accurate — everything in front lines up with the blurry screenshot from the recent teaser vid — we can begin to see how Ferrari increased aerodynamic efficiency by 20 percent over the standard 488 GTB. Autocar says Ferrari's aimed at the 340 kilograms of downforce produced by the Porsche 911 GT2 at 155 miles per hour, 15 kg more than achieved by the 488 GTB. Instead of a hood carved out with two deep scallops as on the 488 GTB, nearly the entire span of the hood on the 488 Pista plunges before reaching the leading edge. In back, a large, heavily dished wing tops a new rear fascia, its center span hovering a few inches above the bodywork. Below, a much more aggressive rear diffuser sits between vertical vents at the flanks. The interior doesn't look much changed, but note the carbon fiber floor instead of floor mats, the leaner center tunnel area, and shift selector buttons on a stalk styled after the one in the LaFerrari. A reveal at the Geneva Motor Show seems likely, where we'll look forward to detailed specs on that engine derived from the 488 Challenge race car but 10 percent lighter. Based on what we've seen so far, a Geneva debut will be thrilling no matter how much of the 488 Pista leaks before then. Related Video: Featured Gallery Leaked Ferrari 488 Pista Images News Source: Ferrari Photo Page Rumormill Geneva Motor Show Ferrari Coupe Luxury Special and Limited Editions Performance Supercars 2018 Geneva Motor Show ferrari 488 ferrari 488 pista