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1962 Ferrari 250 GTO auctioned for a record $48 million

As anticipated, the 1962 Ferrari 250 GTO chassis number 3413 made some serious money at the RM Sotheby's auction at Pebble Beach. As the hammer came down at $48.2 million, the Ferrari became the most valuable car ever sold at auction; it made the Goldeneye Aston Martin DB5 look like a used DB7 in comparison. Last night, racing legend Derek Bell drove the Ferrari onstage, and bidding was opened at a breathtaking $35 million. Three bidders were involved in the sale, and the complete sum including fees came to $48,405,000. The auction house knew it was going to be expensive, having estimated the car at more than $45 million in June. It handsomely topped an earlier Ferrari 250 GTO record of $38 million. The Ferrari, the third one out of a 36-car production run and complete with significant racing history, has a numbers-matching powertrain and a Scaglietti-built Series II body. It has been with its previous owner since 2000, and the last time it was sold it commanded $7 million. The $40-million bump in value is simply incredible, Ferrari 250 GTO or not. And all this time the car hasn't just sat, appreciating; it has been seen in numerous classic events, in actual use. Related Video: Featured Gallery 1962 Ferrari 250 GTO at RM Sotheby's Monterey Auction View 10 Photos Image Credit: RM Sotheby's Ferrari Auctions Performance Pebble Beach ferrari 250 gto 1962 ferrari 250 gto ferrari auction

'The best Lewis' Hamilton faces resurgent Ferrari in F1

SHANGHAI (Reuters) - Lewis Hamilton has raised his game but whether the Mercedes driver can deny Ferrari a second successive win of the season in China this weekend remains to be seen. On paper, the triple world champion is still the man to beat -- the most successful driver by far in Shanghai with four wins to date. "Lewis is the best Lewis that I've seen in the last four years, both on and off the track," said Mercedes team boss Toto Wolff after the Briton started on pole and finished second to Ferrari's Sebastian Vettel in the Australian season-opener. "He has become a pillar of this team and he proved that in Melbourne." But Vettel is leading the championship, the first time a non-Mercedes driver has done that since he took his fourth title with Red Bull in 2013, and once-dominant Mercedes have a fight on their hands. Mercedes, who have taken both the drivers and constructors' titles for the last three years, have won four of the last five races in China. As Melbourne showed, however, past form may count for little in a season of sweeping rule change. "If you think you are going to cruise to victory in the future, based on a track record of success, you'll be proven wrong very quickly," said Wolff. "Australia was a weekend full of lessons, now we go to China ready and excited for another battle." Ferrari have not started a season with consecutive wins since 2004 at the peak of the Michael Schumacher era, the Italian team taking 15 victories from 18 races that season. Vettel's win in Australia ended a victory drought for Ferrari stretching back to September 2015, and drew rare praise from company chairman Sergio Marchionne, but they must now prove they can be genuine contenders. "You really have to go step by step," said Vettel. "It's good to know that we have a great car but it's just the beginning: new regulations, new generations of cars so there will be a lot of progress." The cars this year are longer and wider, sporting fatter tires and more swept-back bodywork as part of a rules shake-up aimed at making them faster, more spectacular to watch and harder to drive. But overtaking has also become more difficult, with Australia raising concern about the lack of real moves. The long straights and wide sweeps of the Shanghai circuit saw 128 passes last year, more than at any other track, and should provide a more definitive verdict.

One-of-a-kind aluminum Ferrari Daytona barn find to be auctioned

Every gearhead loves a good barn find, and this one will probably go down as one of the best. The car in question is a 1969 Ferrari 365 GTB/4 Daytona, which is a special-enough car for its gorgeous looks, impressive performance and appearance in Miami Vice. But this one is extra-special because it's a one-of-a-kind; the only aluminum-bodied Daytona built for street use. It's the latter part of that description that makes it unique. Ferrari did build a few other aluminum Daytonas, but those five cars, according to RM Sotheby's, were built specifically for racing. This one was just a normal street-ready Daytona painted in red with a black leather interior. It was sold to the founder of an Italian automotive magazine, and it changed hands within the country a few times. In 1971, it was imported to Japan where it was driven and enjoyed until its last owner parked it in 1980, where it sat until this year. RM Sotheby's will auction the car at a special Ferrari auction in Maranello on Sept. 9, 2017, where it will be sold alongside a new LaFerrari Aperta. The car will be sold in the condition you see above. The odometer reads 36,390 kilometers (about 22,611 miles), and it's believed the number is accurate. A Ferrari specialist also confirmed that the body, chassis and powertrain all match. The pictures show that the car also includes a comprehensive tool kit that includes a lead hammer for removing/attaching the knock-off wheel nuts. RM Sotheby's expects this car to sell for between ˆ1.4 million and ˆ1.7 million, which is about $1.66 million to $2.02 million at current exchange rates. Of course if the buyer wants to fully restore this car as opposed to simply preserving it, the owner could be looking at some hefty costs to bring it back to like-new condition. Related Video: Featured Gallery 1969 Ferrari 365 GTB/4 Daytona Berlinetta Alloy View 25 Photos Image Credit: RM Sotheby's Ferrari Auctions Coupe Performance Classics RM Sotheby's barn find ferrari 365 gtb4 daytona