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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 stock falls after new CEO calls Marchionne's goals ‘aspirational’

MILAN — Ferrari's new boss sought to reassure investors that he would execute midterm targets set by his predecessor, Sergio Marchionne, but the stock has fallen by 12.5 percent since Wednesday after he described the goals to 2022 as "aspirational." Louis Camilleri was appointed chief executive of the Italian supercar maker on July 21, succeeding Marchionne, who fell seriously ill and later died after suffering complications following surgery. The sudden change jolted investors who had expected Marchionne, who nearly tripled Ferrari's value since taking it public in 2015, to stay on as CEO and chairman until 2021. It also left Camilleri, 63, to finish scripting a midterm strategy that will be presented in September and is meant to show how the company plans to achieve financial targets unveiled earlier this year, notably a goal to double core earnings to 2 billion euros ($2.33 billion) by 2022. In a post-results conference call with analysts, Camilleri said he and Marchionne, with whom he had interacted for years, shared the same ambitions for the company. The tobacco veteran, chairman and former CEO of Philip Morris International has served on the Ferrari board since 2015, while Marchionne in turn sat on the board of PMI. Asked about how he planned to deliver on the targets set by his predecessor, Camilleri said he would provide details during capital market days to be held on Sept. 17-18 at the company's headquarters in Maranello, Italy. "They are aspirational targets. At the capital markets day, we will tell you how we plan to get there," he said. "We will also have to disclose potential risks to that, but also significant opportunities that we see going forward." Ferrari's Milan-listed shares fell after the comments, and its shares on the New York Stock Exchange fell from a Wednesday high of $134.77 to $117.99 on Thursday morning. Tough act to follow At Ferrari, Camilleri has a tough act to follow. Marchionne orchestrated Ferrari's spinoff from parent Fiat Chrysler, positioned it as a luxury icon rather than a car manufacturer, and managed to do what few thought possible: sail through a self-imposed cap of 7,000 vehicles per year without sacrificing pricing power and exclusive appeal. When its share price hit a record high of 129.90 euros in June, the company that sold just under 8,400 vehicles last year was worth around 24 billion euros, almost as much as Fiat Chrysler, which shipped 4.7 million cars.

Ferrari revealed the LaFerrari Aperta, and yeah, it's already sold out

We saw this one coming as far away as the mid-engine Corvette: The LaFerrari is getting a convertible version. Publically revealed Thursday at the Paris Motor Show, the LaFerrari Aperta promises the same performance as the regular LaFerrari – with an open-air design. We had seen it already, actually, but today brought confirmation that it will be called Aperta, not Spider. It's already sold out (duh) and will be limited to 209 copies. Two hundred of those go to regular people, or Ferrari customers anyway, and nine will be held back by the company to show off at events in 2017 as the automaker celebrates its 70th anniversary. Ferrari says the LaFerrari Aperta maintains the torsional rigidity and aerodynamics of the hardtop. The powertrain is the same: a V12 paired with an electric motor and KERS technology to generate 949 total horsepower. Meanwhile, Ferrari revealed details on five liveries to celebrate its 70th anniversary based on its current product line with a total of 350 units set to be produced. They are: The Steve McQueen, which takes inspiration from SMQ's iconic 1960s 250 GT Berlinetta Lusso. The Green Jewel, a green scheme based on the 365 P2 from Le Mans competition. The Stirling, which evokes a 250 GT Berlinetta SWB from 1961 driven to victory by Stirling Moss. The Schumacher, a red color scheme based on Ferrari's 2003 Formula One car piloted to seven victories by Michael Schumacher. The White Spider, a tribute to the 375 MM Pinin Farina Spider. The company also showed the rear-wheel-drive, turbo V8-powered GTC4 Lusso T for the first time at an auto show. As you can tell, the Paris show is a busy one for Ferrari. That's fine with us. Related Video: Featured Gallery Ferrari LaFerrari Aperta: Paris 2016 View 21 Photos Related Gallery Ferrari LaFerrari Spider Related Gallery Ferrari 488 Spider 70th Anniversary Edition: Paris 2016 View 10 Photos Image Credit: Live photos copyright 2016 Drew Phillips / Autoblog Design/Style Paris Motor Show Ferrari Convertible Performance ferrari laferrari 2016 paris motor show ferrari laferrari spider ferrari laferrari aperta