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$8.8m '58 Ferrari 250 GT California Spider highlights RM's Arizona auction

All manner of vehicles change hands at the annual auction extravaganza in Arizona, but never has one sold for as much as the Ferrari you see here. The car in question is an (obviously) eminently desirable 1958 Ferrari 250 GT LWB California Spider, one of only 50 ever made and purring onto the stage in flawless red over black livery with matching numbers of the coveted covered headlights straight from the factory.
When we reported on the car's consignment in anticipation of this weekend's sale, it was expected to bring in between $7 and 9 million - and it's done just that, coming in near the top of its valuation with a winning bid of $8.8 million. That makes for a lot of zeros, but while it set a new record for the Arizona auctions, it hardly makes it the most expensive in the world. That honor still belongs to the Mercedes-Benz W196 that sold last summer for nearly $30 million. Nor is it the most expensive Ferrari ever sold at auction, an honor which still belongs to the 250 Testa Rossa that sold for over $16 million in 2011. Heck, it's not even the most expensive 250 California ever sold, coming in behind the SWB example that sold for nearly $11 million in 2008. All of which only goes to show just how insane the collector classic car market has grown in recent years.
The California was undeniably the highlight of RM's two-day sale, but was joined by several other seven-dollar lots, including a 1961 Porsche 718 ($2.75 million), a Ferrari 250 GT Lusso ($2.44 million), a Duesenberg Model J convertible ($2.2 million) and several other million-dollar Ferraris, Mercedes and a '35 Hispano-Suiza. A 1961 Chaparral 1 failed to reach its reserve price despite a high bid of $1.75 million, neither did a 1966 Porsche 906 Carrera 6 at $1.18 million or a Ferrari 275 GTB/4 at $2.85 million. RM Auctions did, however, manage to sell 85 percent of those lots consigned to bring in a massive two-day total of $45.56 million in sales, details of which you can read in the press release below.

Early Ferrari F40 prototype destroyed in roadside fire

The people behind Tax the Rich have made a name for themselves by doing the sort of things with six and seven-figure supercars that Ken Block does with rally-prepped Subarus and Fords. The group's last video, released just over a year ago, features a rare prototype Ferrari F40. According to Ferrari Chat and IVG.it, another car from that collection is no more, having been reduced to a thin, black crisp. It's a terrible thing to see cars end up in such a state, especially one with such a storied history. It's unclear how the fire started, but old Italian supercars don't exactly have the best reputation for reliability. Hell, even some new Ferraris have had issues with catching fire. This particular F40 is believed to be the sixth prototype ever built by Maranello, going on display at the Frankfurt Motor Show in 1987. According to Motor 1, the car was converted to GT spec in 1991 and raced continually over its life. While some rare supercars have been brought back from the brink and fully restored, it's hard to imagine there is any way to salvage what's left. A Facebook video from Patrich Poggi shows a broken, sullen husk, parked on the side of the road and covered in fire retardant. If you didn't already know, it would be difficult to tell what sort of car you'd be looking at. At least this F40 spent its life on the road and on the track rather than sitting in the back of a garage in someone's collection. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: IVG.it via Motor 1, Ferrari ChatImage Credit: Patrich Poggi Ferrari Coupe Supercars

Ferrari to launch new model every year, keep production limited

You've no doubt perused the big news coming out of Fiat-Chrysler's headquarters in Auburn Hills, MI today. But at the end of the brand discussions, Sergio Marchionne spoke briefly about an incredibly important, low-volume part of the Fiat-Chrysler empire: Ferrari.
"You do need one of these cars in your driveway," Marchionne joked. And while other brand heads today lined out detailed plans for future product, Sergio's words about Ferrari's next five years were very simple, and very vague.
Marchionne confirmed that Ferrari will launch a new car every year between now and 2018. The cars will have a four-year lifecycle, after which, "M" versions will be produced, with a separate four-year cadence. No specific models were mentioned during Marchionne's presentation.