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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

24 Hours of Le Mans live update part one

We tasked surfing journalist Rory Parker to watch this year's live stream of the 2016 24 Hours of Le Mans. What follows is an experiment to experience the world's greatest endurance race from the perspective of a motorsports novice with a profanity-laden stream-of-consciousness writing style. Parker lives in Hawaii and spends far more time spearfishing than behind the wheel of a car. Jump ahead to Part Two here, and Part Three here. Big Money and billionaire hobbyists and rockets on wheels. Jets belching French color smoke overhead. Balance of power fuckery. Plenty of water on the ground this morning. Absurdly expensive motorcars lined up in the pissing rain. Fast twitch lunatics behind the wheel. Chomping at the bit. Let's go let's go let's go! Race hasn't even started, Ford #67 maybe dealing with clutch issues. Karma? That beautiful bastard Brad Pitt's out on the track, waving the tricolor flag. It's a standing start in "Noah's Ark" weather and the 2016 24 hours of Le Mans is go! First lap takes place behind the safety car, finished in a record setting 8 minutes 27 seconds. Wrong kind of record maybe, but this is the first time I've set my mind to watching the whole damn race. Feel like I'm part of history. 3:00 AM on Kauai, a little too early for life. Sucking down coffee like a maniac. Don't fall back asleep. Got my hands on four hours of rest, how much more can I need? Better be enough for the next twenty four hours. Gonna get kinda punchy toward the end. Jason Statham on the scene. Four feet of solid muscle, non-existent hairline. Lovely wife peanut gallery sitting next to me calls him the "best race car drive in the world." Not sure if she's serious. Toss up, could go either way. Statham's a funny guy. Heir to the Bruce Willis comedy action crown. Really good in the movie where the fat comedy lady plays a spy. Ford's on the road. Problems with gearbox pressure, apparently. Nearing a half hour in and the safety car is still on the track. Hellish amounts of water on the ground, in the air. Visibility is garbage. Getting better. Twitter wags, "Not with a bang but a whimper." Just building suspense. Mother Nature felt like killing some people today, race officials need to dial back the drivers until it dries a tad. Normal inclination would've seen 'em flying, guaranteed early lap wrecks. Sad news for that bloodthirsty part of my lizard brain I try and keep suppressed. Good news for humanity. #12 in the pit for a bit.

Brazilian F1 driver Felipe Massa to retire at end of 2016 season

Williams Formula One driver Felipe Massa announced plans to retire at the end of the 2016 season ahead of the Italian Grand Prix. After 14 years in F1, the 35-year-old Brazilian driver competed in 242 races and won 11 grands prix over his tenure, placing him in the ranks as one of the most experienced drivers in the sport. The last race of the 2016 season in Abu Dhabi will be Massa's 250th race, capping off a career where the Brazilian drove for Sauber, Ferrari, and, most recently, Williams. In an emotional video, which was posted on his Facebook, Massa confirmed that he would be leaving Formula One and provided some insight into his lengthy career. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The move to announce his retirement before the Italian Grand Prix was a premeditated decision as it was the same location where Michael Schumacher (who was a large influence on Massa) announced his retirement. Massa also spent numerous years behind the wheel of a Ferrari F1 car and came extremely close to winning the title in 2008 in one. The Italian Grand Prix, then, is the ideal spot for the announcement. Massa's career, which the F1 driver claims has given him "great pride, joy and happiness," started in 2002 with the Swiss-based Sauber team. In his first season, Massa scored four championship points and went on to spend the following season as one of Ferrari's test drivers. For the 2004 season, Massa rejoined Sabuer's lineup alongside Giancarlo Fisichella, where he finished with a total of 12 championship points. The 2005 season was Massa's last with Sauber as the Brazilian was partnered with former champion Jacques Villeneuve, but still managed to score a total of 11 championship points. The 2006 F1 season started the most successful part Massa's career. Massa partnered with the legendary Schumacher, where the Brazilian won his first F1 race in Turkey. Ferrari retained Massa for 2007 to drive with Schumacher's replacement, Kimi Raikkonen, who would go on to win the Driver's Championship by one point. The next year, 2008, was Massa's most memorable with the driver losing out on the championship by a single point to McLaren's Lewis Hamilton. In 2009, Massa was involved in a life-threatening accident in qualifying for the Hungarian Grand Prix where the driver was struck in the head by a loose spring from Rubens Barrichello's vehicle.