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Fangio's Ferrari sells for $28 million in New York [w/videos]

See this Ferrari? It just set the record as the most valuable automobile sold at auction this year. It's a 1956 Ferrari 290 MM driven by the legendary Juan Manuel Fangio, and it sold last weekend in New York for an astonishing $28.05 million. The speedster was built for Fangio to drive in the 1956 Mille Miglia – the last time the Argentinian would enter the race, which was shut down as a competitive event the following year. But before chassis number 0626 was retired, it was driven by such legends as Phil Hill, Alfonso de Portago, and Wolfgang von Trips. Ferrari only made four examples, and between its provenance and its pristine condition – it never crashed – this 290 managed to exceed its pre-sale estimate. In the process, 0626 powered its way into the record books as the most expensive car sold at auction in 2015, the most valuable that RM has ever handled, and the highest price ever paid for a vehicle in New York City. In fact the only cars ever sold at auction for more than this one were another Ferrari (the 250 GTO that Bonhams sold last year for $35 million) and another of Fangio's racers (the Mercedes W196 also sold by Bonhams for $29.6 million in 2013). Though Fangio's Ferrari was far and away the top lot of the day, it wasn't the only multi-million-dollar automobile sold as part of RM Sotheby's Driven by Disruption auction. A 1962 Aston Martin DB4 GT Zagato set a new record for British automobiles at $14.3 million. A Ferrari 250 GT Series I Cabriolet sold for $5.7 million, a Pierce-Arrow Silver Arrow went for $3.7 million, and another Ferrari 250 Europa sold for $3.3 million – as did Floyd Mayweather's Enzo. A '72 Lamborghini Miura SV fetched $2.4 million, and Janis Joplin's Porsche 356 set a new record for its type and well exceeded expectations at $1.7 million. All told, the event generated a massive $73.5 million in sales, of which the Fangio Ferrari alone accounted for over a third. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Ferrari shows off SF90's four powertrain modes in new video

The Ferrari SF90 is the newest foal in the Maranello stable, and Ferrari continues to parade it for the crowds. A new video shows how the plug-in hybrid's four powertrain modes work, controlled by buttons on the lower left side of the steering wheel. The greenest mode gets a button marked "eD," for electric driving (now that Smart's effectively dead here, someone had to pick up the eD moniker). In that guise, the 7.9-kWh battery mounted transversely behind the seats sends energy to the two e-motors up front, and can power the SF90 for up to 15 miles as a front-wheel-drive coupe. Next up, the "H" button turns the SF90 into a hybrid, with a priority on maximum efficiency. The battery sends its power to the dual e-motors in front and the third e-motor between the engine and transmission, with the 4.0-liter twin-turbo V8 firing to work the rear wheels as well. Under low loads, the control logic can switch from Hybrid mode to pure electric driving, then reengage the ICE on demand. Above that, a checkered flag icon represents Performance mode. Here, the ICE is always running, with the priority on keeping the battery charged. The gutsiest mode gets a clock icon, representing Qualify. This extracts all the performance available, the video indicating this is where the 1,000 CV, or 986 horsepower, comes into play. It isn't clear if Qualify is the only mode that unlocks peak horsepower, of if Performance can do so as well. In fact, we're still not sure what the SF90's effective horsepower is; Ferrari added the V8's 769 hp to the three e-motors' 217 hp to reach that total output figure, which isn't how this is usually done. We'll undoubtedly get more answers once the first drives hit the interwebs. We already have a lot of questions about that intense steering wheel and its "View Max" touch controller, and the rather comely 16-inch display.

Record-setting 1953 Timossi-Ferrari V12 hydroplane is as rare as it gets

Luigino "Gigi" Barp, the head of technical service at Ferrari Classiche, the company's restoration and certification division, says it is impossible to put a value on the 1953 Timossi-Ferrari Arno XI hydroplane racing boat. It's a one-of-a-kind piece with a one-of-a-kind engine that was specially designed to beat and set the world speed record on water. With Achille Castoldi behind the wheel, it achieved that goal back in 1953. In 2019, after a restoration and some time at the Ferrari Museum, it's for sale on DuPont Registry.  Although numerous Ferrari automobiles have set many records and earned countless first-place finishes on land, there is only one world-record-holding Ferrari-powered boat. The details and timelines of how it all came together are a bit murky, depending on the source, but it all centers around Castoldi, a world-class boat racer from Italy. According to RM Sotheby's, Castoldi had success with Alfa Romeo in lower-weight-class racing in the '40s before deciding he wanted to set the water speed record in the 800-kilogram class. Castoldi was reportedly friends with people at Ferrari, and he was fortunate enough to secure a Tipo 375 V12 engine for a three-point hydroplane built at Cantieri Timossi boatyard in Italy. That's the same engine Ferrari was using for its F1 Grand Prix cars of the time. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. After realizing the engine was still not powerful enough in its original form, Castoldi reportedly worked with Scuderia Ferrari’s chief race engineer Stefano Meazza to up the power. The engine, which started at roughly 385 horsepower, reportedly gained two superchargers and twin four-choke carburetors and boasted more than 500 horsepower in methanol-fueled race tune. It also received a dual-magneto ignition system, and each cylinder used two spark plugs. Castoldi called the boat Arno XI, and on October 15, 1953, he set the water speed record for the 800-kg class by averaging 150.19 mph during a two-way run. Some years passed, and racer Nando Dell'Orto later took ownership. He reportedly made some aerodynamic tweaks, including the shark nose intake and the rear shark fin before eventually retiring the boat from serious racing. In 2012, the Arno XI emerged from the shadows as lot No. 371 at an RM Sotheby's auction, where it sold for ˆ868,000, or roughly $966,000.