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1964 Ferrari 250 LM expected to net $12-15 million at RM's NY auction

If you're one of the very fortunate souls that has $12 to $15 million burning a very large hole in your pocket, we've found the perfect way to liberate yourself from the burden of so much money - buy this Ferrari, which is being put up for auction. It's a supremely rare Ferrari 250 LM, the 24th member of a 32-car run, that rolled off the assembly line on what we imagine was a brilliant, sunny Italian summer's day in July of 1964.
Officially known as Chassis 6107, this 250 LM is rare because unlike its brothers, it wasn't originally bought to be a race car. Its first owner used it more or less as a toy, both around town and on the infamous Mulholland Drive, in California. After a pair of owners, it found its way into the hands of an Ecuadorian pair, who kicked off its racing career. Its best result was at the 1968 24 Hours of Daytona, where it finished eighth overall and first in class, although subsequent runs at Daytona and Sebring were less successful. Its most recent owner was a Japanese collector, who purchased the car in 1983 and has had it on display ever since.

Ferrari reveals extra 'speciale' 458

Ferrari revealed this creamy white riff on the 458 on Tuesday. But don't get too excited: It's a one-off creation built specifically for a British owner. Called the 458 MM Speciale, the supercar debuted at Fiorano, where Ferrari chief test driver Dario Benuzzi and the unnamed owner turned laps. The 458 MM Speciale is based on the 458 Speciale and uses its natural aspirated V8 paired with a seven-speed dual-clutch gearbox. This one-off is painted a shade of white called Bianco Italia. The Italian flag colors are used for stripes that run down the center of the car. Designed by the Ferrari Styling Center, the car has blacked-out A-pillars that create a visor look, updates to the aluminum bodywork, and carbon-fiber composite bumpers. There is also a new side air scoop, new air intakes, and the radiators are mounted at different angles to aid cooling. There's a tasteful spoiler in back, and the speedster rolls on eye-catching wheels with a custom cluster pattern. Inside, the owner chose an upgraded audio system and Cioccolato leather with white stitching. The controls are accented with satin white rings. Related Video: Featured Gallery Ferrari 458 MM Speciale Design/Style Ferrari Coupe Supercars

Michael Schumacher's 2001 F1 car sells for $7.5m, nearly twice its estimate

Sotheby's auctioned one of Michael Schumacher's Formula 1 race cars this week, and it went for an impressive $7.5 million. When the auction house announced the car would be offered, it was estimating that it would go for around $4 million, making this a major success. The company also claims it's the most expensive modern era F1 car sold, though Sotheby's doesn't say what constitutes as "modern." It did sell for about twice what the last Schumacher F1 car sold through Sotheby's went for. That car was from the 2004 season and sold for just under $3.2 million. This particular car, an F2001 that, not surprisingly, was used during the 2001 F1 championship. It won two of the three races it participated in, and helped Schumacher win one of his 7 championships. It's in racing condition, and Ferrari will help with storage and transport for the car. The car's sale isn't just about a rich person getting a fancy collectable or toy though. Sotheby's notes that an undetermined portion of the proceeds will go to Michael Schumacher's charity, Keep Fighting. Among the charity's causes are road safety and head safety. The latter isn't surprising considering Schumacher's unfortunate skiing accident in 2013 that left him with a traumatic brain injury. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2001 Ferrari F2001 Image Credit: Sotheby's Celebrities Motorsports Ferrari Auctions Car Buying Racing Vehicles Performance michael schumacher RM Sotheby's sothebys