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$11.55 million 1964 Ferrari 250 LM highlights RM Auctions' first night in Monterey

Some of the biggest auto auctions of the year are held during the weekend of the Pebble Beach Concours d'Elegance. Millionaires gather in hopes of outbidding their contemporaries for incredibly rare cars. As Bonhams' record sale on Thursday of a 1962 Ferrari 250 GTO for $38 million showed, these days the world's most expensive vehicles are found at auctions, often with a prancing horse on the nose.
RM Auctions' Friday sale reinforced this even more when a 1964 Ferrari 250 LM topped the evening by bringing in $11.55 million, after the 10 percent commission. It wasn't the only million-dollar vehicle of the event, though. A 1965 Ford GT40 Roadster Prototype garnered $6.93 million, and a 1966 Shelby Cobra 427 brought $1.705 million. Even a classic 1948 Tucker 48 had a final price of $1.57 million.
Surprisingly, some rather new cars actually brought in quite big money, too. A 2013 Bugatti Veyron 16.4 Vitesse Le Ciel Californien sold for $2.42 million, and a 2006 Ford GT with just 13 miles sold for $407,000.

Ferrari Classiche returned this 275 GTB Competizione to million-dollar form

When this 275 GTB Competizione rolled into the hands of Ferrari Classiche, it was all out of sorts. Like so many of its brethren, it wore a red overcoat, but Giallo Fly yellow was its original color. The air intakes were mismatching lengths, the front suspension had an extra shock, certain areas of the bodywork were reshaped, and several other parts had been swapped throughout its adventurous life. With time and meticulous attention to detail, however, Classiche brought the GTB/C back up to Ferrari factory standards. Ferrari does not give an exact year of when it reattained chassis No. 09027, only saying it happened a few years after the car was sold at a 2004 Bonham's auction in Monte Carlo. Before that, it lived quite the tumultuous life. It left the factory on June 14, 1966, and four days later, it placed second in its class at the 24 Hours of Le Mans. Pierre Noblet and Claude Dubois drove the No. 57 car for the Francorchamps team and finished 10th overall. According to Ferrari, the racing team made numerous on-the-fly adjustments, including cooling aero and fog lights, to make it properly race-ready. It later won the Mont Ventoux hillclimb, but was damaged during the Marathon de la Route race at the Nurburgring. The car returned to Maranello, and Carrozzeria Scaglietti, who originally built the car, fixed it up before it was sold to amateur racer Patrick McNally in 1967. McNally, after changing the car to silver, wrecked at the 1,000 km of Montlhery. Again, it was fixed, this time by Maranello Concessionaires Ltd. in the UK, and was painted red. Ferrari says the car bounced from owner to owner before it was sold at Monte Carlo. In addition to the previously mentioned issues, the Ferrari faced unoriginal parts that included the oil recovery tank, front brake discs, petrol tank, exhaust system, wheels, tires, steering wheel, and much of the interior. For some reason, the identification plaque had even been changed, but the important original pieces were there: the chassis and the engine. Today, the car is back to tip-top shape and more valuable than ever. Back in 2015, a Barrett-Jackson auction saw a 1966 Ferrari GTB Competizione sell for $9.4 million. We have a feeling Ferrari will keep this one, though. See full photos in The Official Ferrari Magazine. News Source: The Official Ferrari Magazine Auto News Ferrari Automotive History Coupe Performance Classics

Ferrari, Maseratis trashed in Chinese off-road adventure

Ready to cringe? A group of Chinese motorists drove the Sichuan-Tibet Highway in a fleet of Italian cars, fording streams and hopping rocky terrain as they went. Well, they attempted to drive it, anyway. Only five of the cars managed to survive the truly unnecessary ordeal. The trip was reportedly the idea of a wealthy Chinese businessman named Ni Haishan. Haishan was driving the red Ferrari F12, with his employees following in what appear to be 10 Maserati Ghibli sedans. The Maseratis were gifts to his employees, which makes the loss of six of them along the way only slightly easier to stomach. Even the cars that made it to the finish line in Lhasa, Tibet, arrived with some serious damage. The unsurprising fallout included several wheels and tires on the Ferrari, including one wheel that took the studs it was attached to with it. As you can see above, the "highway" route was not exactly suited to these particular cars. There is some precedent for a car from Maranello driving to Lhasa, however. In 2005, Ferrari sent two 612 Scagliettis on a tour of China called "Ferrari 15,000 Red Miles" with various journalists at the wheel. That journey started and ended in Shanghai and took the cars all over the vast country, including two crossings of the Gobi Desert, along the Great Wall, and on some of Marco Polo's route. Of course, it also involved a lot of planning, a huge support team, and at least a modicum of common sense. All of this was supposedly Haishan's way of showing the world that business is good for him and that customers should trust their money with him. We might conclude otherwise based on the results. If you absolutely have to run this road in something Italian and expensive, may we suggest a Maserati Levante next time? Related Video: Image Credit: news.163.com Auto News Ferrari Maserati Coupe Luxury Performance Sedan ferrari f12 berlinetta maserati ghibli