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1964 Ferrari 250 LM sets Arizona auction record at $9.6 million [w/video]

We've seen some high-priced metal come up under the hammer in Arizona over the years, but the one you're looking at right here is the most expensive ever sold during the famous auction weekend. It's a Ferrari 250 Le Mans from 1964, the ninth of just 32 examples made. And RM Auctions just sold it for $9,625,000. That doesn't make it the most expensive Ferrari ever sold at auction, or even the top price paid for a 250 LM: according to figures from Sports Car Market, the same auction house has handled the top five highest-grossing 250 LMs of all time, including the 1965 Le Mans winner that sold in New York in 2013 for $14.3 million and another that sold last August in Monterey for $11.5 million. But it does make this example, according to RM, "the most valuable automobile sold in Arizona auction history." One of the earliest mid-engined Ferraris, the 250 LM was the last of Maranello's Le Mans winners. This particular example, chassis number 5899 GT, was sold by the factory to the famed Swiss racing team Scuderia Filipinetti, winning the Sierre-Montana Crans Hill Climb fresh out the box, followed immediately by another win at the XV Coppa Inter-Europa at Monza – both at the hands of Ferrari F1 and Le Mans drivers. After Filipinetti was done with it, 5899 GT was displayed at the Geneva Motor Show, was sold off the stand and changed hands a few more times – including one owner who oddly replaced the bodywork with that of a Porsche 906 Carrera 6 and another who swapped out the engine. It went on to win many more races, and was ultimately reunited with its original engine and proper bodywork. Restored several times over, 5899 GT was certified ten years ago by the Ferrari Classiche department and was even displayed at the factory museum in Maranello. The 250 LM wasn't the only noteworthy lot RM sold this weekend in the Frank Lloyd Wright Ballroom at the Arizona Biltmore, though. Several other Ferraris sold in the millions, from a '67 275 GTB/4 that sold for $3.6 million to a 2005 FXX Evoluzione for $1.6 million. The '71 Lamborghini Miura SVJ that was tipped to break the $2-million mark ultimately sold for under $1.9M, and the '84 Audi Sport Quattro ultimately dropped right in its estimate range at $401,500. All told, RM sold 90 percent of the metal it was consigned for the event, bringing in a whopping $63.7 million in sales. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Formula One approves aerodynamic rule changes to promote more passing

LONDON — Formula One has approved aerodynamic rule changes for 2019 aimed at promoting closer racing by making it easier for cars to overtake, the sport's governing body said on Tuesday. The measures include a simplified front wing with a larger span, front brake ducts without winglets and a wider and deeper rear wing. The International Automobile Federation (FIA) said its Formula One commission, Strategy Group and World Motor Sport Council had approved the changes. The changes should reduce turbulence for cars that are following each other, and come after criticism of the lack of overtaking in some races. The FIA said the vote, on the last day before unanimous agreement is required for any 2019 regulation changes, followed research carried out by a majority of the teams and backed by commercial rights holders Liberty Media. "These studies indicated the strong likelihood of a positive impact on racing and overtaking within F1 and as such have now been ratified for implementation in 2019," the statement added. "The approved changes are separate to the ongoing work being undertaken in regard to defining Formula One's regulations for 2021 and beyond." Motorsport.com suggested several teams, including Ferrari and Red Bull, had been opposed to the proposals but were outvoted. Formula One's current agreements with teams expire at the end of 2020 and all parties are discussing what kind of engine and rules should be introduced after that. Liberty want to level the playing field, reduce the costs and introduce a more equal distribution of the revenues. Only three of the 10 teams — Mercedes, Ferrari and Red Bull — have won races in the V6 turbo hybrid era that started in 2014, and Mercedes has so far won every championship. The FIA said it was continuing to evaluate a range of other measures to encourage closer racing. Reporting by Alan BaldwinRelated Video: Image Credit: Reuters Motorsports Ferrari Mercedes-Benz Technology Racing Vehicles F1 fia liberty media

As the iconic Ferrari F40 turns 30, a look back at its development

July 21, 2017 marks the 30th anniversary, to the day, of the Ferrari F40's debut. The F40 is easily one of the greatest Ferraris ever produced: It was one of the first road cars to have a top speed of 200 mph, it celebrated the company's 40th anniversary, and it was the very last model that founder Enzo Ferrari was able to see to completion. To celebrate this historic car's anniversary, Ferrari collected some anecdotes from people who worked on the F40 project, and they reveal some interesting details about the car's development. Among these details was the timeframe for creating the car. Ermanno Bonfiglioli, Head of Special Projects at Ferrari at the time, said that the car was developed in just 13 months. That means everything from the styling to the engine were taken from an idea to a production car in barely over a year. The engine wasn't quite a from-scratch design, though, since it was based on the unreleased 288 GTO Evoluzione's 650-horsepower engine, but it still received many updates to become the 487-horsepower engine we know today. Bonfiglioli highlighted the engine's weight savings due to using magnesium for the oil sump, cylinder head covers, intake manifold, and transmission bellhousing. It was after driving one of those 288 GTO Evoluziones that Pininfarina designer Leonardo Fiorvanti learned about Enzo Ferrari's plan for the F40. He said that after telling Enzo his thoughts on the 288, Enzo told him he wanted to make a "true Ferrari." Fiorvanti also revealed that everyone, including Enzo, knew this would be the last car for the founder. From what Ferrari test driver Bario Benuzzi said about the F40, it certainly didn't start out as a "true Ferrari." He said, "The handling of the first prototypes were poor." But in the short development time, the F40 became the car Enzo wanted, and Benuzzi credits plenty of downforce and the light, stiff chassis. It didn't make the car easy to drive, though. Benuzzi said, "With no power steering, power brakes or electronic devices, it demands the skill and commitment of the driver, but generously repays it with a unique driving experience." Related Video: Featured Gallery Ferrari F40 Ferrari Coupe Supercars Classics ferrari f40