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1962 Ferrari 250 GTO hits record $38 million sale at Bonhams' Monterey auction

This weekend's Pebble Beach Concours d'Elegrance brings together some of the rarest and most expensive automobiles in the world onto a tiny peninsula in California jutting out into the Pacific Ocean. But this year, there has been one vehicle on everyone's lips - a 1962 Ferrari 250 GTO. Bonhams put up this incredibly rare Prancing Horse at no reserve for its auction at the Quail Lodge, meaning it could have sold for just a dollar. It didn't though, this ex-Jo Schlesser owned Ferrari sold for a staggering $38.115 million. That makes it the most expensive car ever sold at auction, beating out Bonhams' sale of a Mercedes W196R last year for $29.65 million.
Ferrari only built 39 of these racers, and they have been million-dollar cars for years. One reportedly sold privately for $52 million last year, and one built for Stirling Moss went for $35 million privately in 2012.
While the spectacle of seeing a 250 GTO drive across the auction block with no reserve and then set a record price was certainly amazing, it wasn't the only rare Ferrari up for sale during the evening. Bonhams also handpicked some of the most collectible Ferraris in the world and brought them to the stage. The ten cars included a 1962 250 GT Short-Wheelbase Speciale Aerodinamica that went for $6.875 million, a 1953 250 Mille Miglia Berlinetta driven to racing victory by Phil Hill for $7.26 million and even a 1978 312 T3 Formula One car for $2.31 million. All told, the group of them sold for $65.945 million.

Ferrari 250 GT California could be your day off for $8 million

Vintage Ferraris consistently top the list of the most expensive cars ever sold. In private treaty sales, the 250 GTO is king, but even at public auctions, it's the horses that prance the highest. After the Mercedes W196 grand prix racer that set the world record this past July at nearly $30 million, the list of eight-figure sales is populated almost entirely by Ferraris: a 275 GTB/4 NART Spyder for $27.5 million, the pair of '57 Testa Rossas that sold separately a few years ago for $17 and $13 million apiece, the 250 LM recently went for over $14 million and the 250 GT SWB California Spider that sold in 2008 for $11 million.
Now RM Auctions has another California - this time a long-wheelbase model - on consignment for its upcoming sales in Arizona, where it is expected to fetch between $7 and $9 million. The 11th of only 50 made, chassis number 1055 GT features matching numbers, in red over black with those highly-coveted covered headlamps from the factory. It was delivered new in 1958 to Texas and was owned by some prominent Ferrari collectors and historians across the United States.
It underwent a comprehensive restoration in 1994 before taking the top prize in its class at the Cavallino Classic and has made the rounds of numerous other concours. It's spent the last few years in northern Europe and is now being put up for auction. "It is so choice," as our childhood friend Ferris would say. "If you have the means, I highly recommend picking one up." Check it out in the gallery of achingly gorgeous photos above and the details in the auction listing below.

Kimi Raikkonen returns to Ferrari

The so-called "silly season" in Formula One conjured up all kinds of rumors, and most of them revolved around Kimi Raikkonen. Would the 2007 World Champion stay at Lotus? Would he switch to Red Bull to replace Mark Webber? Would he return to Ferrari?
Well now we have the answer. Ferrari has confirmed that the Finn is heading back to Maranello, where he will partner with Fernando Alonso starting next season in a two-year deal. That means Felipe Massa, who has been at Ferrari since 2006 but has struggled to keep up the pace since his catastrophic crash in 2009, will need to find a new seat.
The announcement opens up a series of questions as a game of musical chairs commences. Where will Massa go? Who will fill Raikkonen's seat at Lotus? And will Alonso tolerate the team bringing in another former champion and serious contender to challenge his position as number one at the top team? We'll just have to wait and see, but the move in and of itself demonstrates a certain businesslike lack of personal emotion on Kimi's part, having been unceremoniously dumped by Ferrari three years ago to make way for Alonso. Head on down below for the rather Raikkonenly brief announcement.