1991 Ferrari Testarossa on 2040-cars

Auto blog

1962 Ferrari 250 GTO Sells For $38 Million At Auction

A 1962 Ferrari 250 GTO became the most expensive car ever sold during an automotive auction Thursday night when a buyer paid $38 million for the vehicle at a Bonhams event. Only 39 of the racers were ever built, and it is a favorite among collectors. One reportedly sold for $52 million in a private sale. If true, it would be the most expensive car ever purchased. Another Ferrari GTO built for legendary racecar driver Stirling Moss sold for $35 million in 2012. Thursday's sale broke the auction record set at a Goodwood auction last year of a Mercedes W196R that was driven by Juan Manuel Fangio to wins in the 1954 German and Swiss Grand Prix races by $8 million. Pretty good for a car that went to the auction block with no reserve, meaning there was no minimum price set for the sale of the car, though bidding started at $11 million, according to the Los Angeles Times. The Ferrari 250 GTO was the star of the show, but it wasn't the only rare Ferrari on the auction block. Bonhams brought ten of the most collectable Ferraris in the world on stage, including a 1962 250 GT Short-Wheelbase Speciale Aerodinamica that went for $6.875 million, a 1953 250 Mille Miglia Berlinetta driven to racing victory by Phil Hill for $7.26 million and even a 1978 312 T3 Formula One car for $2.31 million. All told, the Ferraris sold for $65.945 million, according to Autoblog.

Ferrari family won't sell stake in company

Ferrari may be splitting off from the Fiat Chrysler Automobiles group and launching its IPO independently, but those stocks it's going to float are coming out of Fiat's hands. The small portion still held by the Ferrari family looks destined to stay in their control for the time being. According to the latest report from Reuters, Enzo's son Piero says he has no intention of selling any of the 10 percent interest he and his family hold in the company founded by his late father. "I have never sold and I have no intention of doing so," said Piero, as quoted in the report. Piero Ferrari is the illegitimate son of Enzo Ferrari and his mistress Lina Lardi. His half-brother Dino died in his twenties from complications associated with muscular dystrophy, and in accordance with Italian custom, Piero was only acknowledged as Enzo's heir after the death of the father in 1988. Representing the family's holdings, Piero still acts as vice-chairman of the company but devotes his day-to-day to running aerospace manufacturer Piaggio Aero. News Source: ReutersImage Credit: Marco Vasini/AP Earnings/Financials Ferrari stock piero ferrari

Ferrari auctioning one-off LaFerrari for Italian earthquake relief

Ferrari is about as Italian as Italian gets, so it's no surprise that the company is launching an initiative to help the victims of this year's two major central Italian earthquakes. And it involves a LaFerrari. Ferrari, RM Sotheby's, and the National Italian American Foundation's Earthquake Relief Fund are partnering up to auction off a one-off LaFerrari from the company's own collection at the upcoming Finali Mondiali on December 3. All proceeds from the auction will go to the reconstruction efforts in central Italy following August's magnitude 6.2 quake and the string of quakes that hit late last month. If you're heading to the Daytona International Speedway for Finali Mondiali and have seven-figure's worth of cash burning a hole in your finely lined pockets, it's worth mentioning what you could bid on. The LaFerrari in question wears the company's traditional Rosso Corsa, but sports white accents down its body and an Italian tricolor on its nose. Ferrari says bespoke interior stylings complement the one-of-a-kind exterior treatment. The special LaFerrari will cross the block at RM Sotheby's on December 3. Related Video: