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Aston Martin may soon follow Ferrari with a London IPO

Aston Martin may soon be following Ferrari's lead, as Automotive News reports that people within the British automaker say it may soon consider an initial public offering. If it happens Aston Martin will likely list in London, not New York like Ferrari. While some in the industry were initially wary of Ferrari's move, the company is doing better than ever, with shares rising 62 percent since its IPO in 2015. An IPO could be a huge plus for Aston Martin. The company is looking to boost both sales and profit. Ferrari and Aston Martin sell similar vehicles at similar price points, but Ferrari has a much wider audience, even if most of those fans will never even sit inside one of its cars. That would likely be a big sticking point in estimating Aston Martin's value. It also moves half as many units as Ferrari per year. Aston Martin does have a new crossover on the horizon. Like Porsche, a crossover has the potential to more than double the automaker's sales. Even without it, fourth quarter profits in 2016 notably increased, fueled by solid sales of the new DB11. The IPO won't happen until sometime next year. The company wants to wait on a full 2017 earnings report. Related Video: News Source: Aston Martin Earnings/Financials Rumormill Aston Martin Ferrari stock

Typhoon Jebi destroys 51 Ferraris at dealership in Japan

The strongest typhoon to hit Japan in a quarter-century destroyed an estimated $9 million worth of Ferraris at an authorized dealership on Rokko Island, an artificial island in the city of Kobe, after sending three feet of storm surge into the showroom. According to Yahoo Japan, the storm surge from Typhoon Jebi destroyed 51 of 53 new and used Ferraris housed at the dealership, including some that had already been purchased. Employees reportedly tried to cover the entrance with tarps and sandbags, to no avail. Salt water reportedly seeped into the engine bays, so the vehicles were trucked away to be scrapped. The dealership will reportedly look to insurance to recoup its losses. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Typhoon Jebi slammed into Japan's west coast Sept. 4 with winds as high as 135 mph, leaving at least 11 dead and hundreds injured. It forced the closure of Kansai International Airport for three days due to flooding and after a tanker smashed into a bridge connecting the island airport to the mainland, damaging the bridge's girders. Around 3,000 passengers had to spend the night at the airport. Separately, about 100 cars at a seaside dealership in Nishinomiya in Hyogo prefecture burned after their electrical systems shorted out from sea water, reports said. Related Video:

Totaled Ferrari Dino sculpture sold for $250k

How much would you pay for a Dino? Although this sub-brand was supposed to offer lower-cost alternatives to more expensive Ferraris, a 246 GTS model with "chairs and flares" can fetch big bucks. The later, more angular 308 GT4 is less desirable, but the one above just sold for $250,000. Oh, and it's a complete wreck - an absolute write-off, as you can see. So how did it fetch a quarter million when it wouldn't be worth that much in pristine condition? Because this is art.
"Objet trouvé", to be specific, the French term for a common object elevated to a work of art. That's the way it ended up displayed by celebrated French artist Bertrand Lavier and the Galerie Yvon Lambert at the Foire Internationale d'Art Contemporain (FIAC) art fair at the Grand Palais in Paris last week, where an unnamed Turkish collector paid the landmark price. Let's hope he's not planning on restoring it, because it's apparently worth more totaled.