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Ferrari 250 GT California nets $17 million at Amelia Island

The 1961 Ferrari 250 GT SWB California Spider is famed for its feature (in replica form) in "Ferris Beuller's Day Off" and as one of the more valuable Ferrari models. This year's Gooding & Company auction at the Amelia Island Concours d'Elegance have has cemented that with a high-dollar example. This 250 is indeed a real example, one of just 56 ever made, and only 37 with those desirable covered headlights. This was the first time this particular example was ever offered for sale to the public in its 55-year history, and it fetched $17.16 million at the Florida concours over the weekend. That's not quite enough to take the record for this highly sought-after model. According to Sports Car Market, that still belongs to the barn-find example that Artcurial sold last year for over $18 million. But it did beat its own pre-sale estimates, and was enough to top Gooding's list as well as that of Amelia Island. Related Video:   Gooding & Company Sets Amelia Island Record for Single Lot and Celebrates More Than $60 Million in Sales from its 2016 Amelia Island Auction - 1961 Ferrari 250 GT SWB California Spider Fetches $17,160,000, a Gooding & Company Record - Selections from The Jerry Seinfeld Collection Total More Than $22.2 Million AMELIA ISLAND, Fla. (March 13, 2016) – Gooding & Company, the auction house acclaimed for selling the world's most significant and valuable collector cars with the tradition of presenting some of the greatest collections to ever come to market, realized $60,162,150 in a single day at the company's 2016 Amelia Island Auction. The most talked about event of the week did not disappoint, as President David Gooding and Auctioneer Charlie Ross sold 69 of 79 lots for an impressive 87% sales rate, which resulted in an astounding average price of $871,915 per car sold. The standing-room-only crowd also witnessed the company achieve nine new world auction benchmarks. There were highlights throughout the auction, including the $22,244,500 garnered by Selections from The Jerry Seinfeld Collection and the star of the day, the 1961 Ferrari 250 GT SWB California Spider which commanded a price of $17,160,000. "We are delighted with our auction results and are proud of the new auction records we have set, which demonstrates that there is a strong demand for high quality cars," stated David Gooding, President of Gooding & Company. "The room was electric from the beginning and the crowd's intensity only grew when Mr.

Weekly Recap: FCA hit with record fine as NHTSA crackdown continues

The National Highway Traffic Safety Administration slapped Fiat Chrysler Automobiles with a record fine this week that could reach $105 million. The punishment comes after NHTSA found problems with the automaker's execution of 23 recalls that affect more than 11 million vehicles. The consent agreement, announced Sunday, calls for FCA to pay a $70-million cash fine and requires the company to spend at least $20 million over a three-year period on industry outreach programs and to beef up old recall campaigns. Failure to comply will result in another $15-million fine. FCA also agreed to federal oversight, which includes an independent monitor to oversee the company's recalls. The $70-million cash fine equals a penalty NHTSA levied on Honda in January. "Fiat Chrysler's pattern of poor performance put millions of its customers and the driving public at risk," NHTSA administrator Mark Rosekind said in a statement. "This action will provide relief to owners of defective vehicles, will help improve recall performance throughout the auto industry, and gives Fiat Chrysler the opportunity to embrace a proactive safety culture." FCA called the deal a "consensual resolution," but admitted that it "failed to timely provide an effective remedy" during certain recalls. "We are intent on rebuilding our relationship with NHTSA and we embrace the role of public safety advocate," the company said in a statement. The announcement kicked off a busy week for the automaker. NHTSA agreed FCA did not need to recall 4.7 million vehicles after an investigation failed to find defects with a power module used in some Jeep, Dodge, and Ram vehicles. A Georgia judge also reduced a civil verdict involving a death in a Jeep Grand Cherokee crash. Amid all of that, the company reported net profit of about 333 million euros, or $364 million in the second quarter on Thursday. OTHER NEWS & NOTES FCA ramps up Hellcat production Despite a decidedly legal and financial week for FCA, there was still time for the performance side of the business to briefly grab the spotlight. The automaker is more than doubling its production of the Dodge Challenger and Charger SRT Hellcats in response to strong demand. The order bank opens the second week of August and production begins in September. FCA will finish up its scheduled 2015 model-year Hellcat builds, and cancel any "unscheduled" versions, though customers will get discounted pricing for 2016.

Ferrari World May Be Comming To North America | Autoblog Minute

Ferrari has plans for parks in China and Spain and soon we could see a Ferrari World in North America.