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15 Aug 2014

1962 Ferrari 250 GTO hits record $38 million sale at Bonhams’ Monterey auction

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This weekend’s Pebble Beach Concours d’Elegrance brings together some of the rarest and most expensive automobiles in the world onto a tiny peninsula in California jutting out into the Pacific Ocean. But this year, there has been one vehicle on everyone’s lips – a 1962 Ferrari 250 GTO. Bonhams put up this incredibly rare Prancing Horse at no reserve for its auction at the Quail Lodge, meaning it could have sold for just a dollar. It didn’t though, this ex-Jo Schlesser owned Ferrari sold for a staggering $38.115 million. That makes it the most expensive car ever sold at auction, beating out Bonhams’ sale of a Mercedes W196R last year for $29.65 million.

Ferrari only built 39 of these racers, and they have been million-dollar cars for years. One reportedly sold privately for $52 million last year, and one built for Stirling Moss went for $35 million privately in 2012.

While the spectacle of seeing a 250 GTO drive across the auction block with no reserve and then set a record price was certainly amazing, it wasn’t the only rare Ferrari up for sale during the evening. Bonhams also handpicked some of the most collectible Ferraris in the world and brought them to the stage. The ten cars included 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 group of them sold for $65.945 million.

Scroll down to read Bonhams’ press release about the auction, and check our gallery to view these very valuable Ferraris.

Continue reading 1962 Ferrari 250 GTO hits record $38 million sale at Bonhams’ Monterey auction

1962 Ferrari 250 GTO hits record $38 million sale at Bonhams’ Monterey auction originally appeared on Autoblog on Fri, 15 Aug 2014 06:01:00 EST. Please see our terms for use of feeds.

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15 Aug 2014

2014 Pebble Beach Tour d’Elegance gives the best view in town

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2014 Pebble Beach Tour d'Elegance

Situated on rolling hills right on the coast of the Pacific Ocean, the Monterey Peninsula in California might be one of the most picturesque areas in the United States, but when the Pebble Beach Concours d’Elegance and its related events arrive each year, they bring along a plethora of million-dollar cars that make the view just that much better. You don’t have to be a DuPont or a Vanderbilt to check out these amazing automobiles, though, especially if you’re an early bird.

The Pebble Beach Tour d’Elegance starts early Thursday morning is one of the first big events of this automotive celebration, and it might actually be the weekend’s best-kept secret, especially since it’s completely free. The event brings together a pack of ultra-rare vintage cars to wind through Northern California’s scenic, ocean-side roads as well as a jaunt to Mazda Raceway Laguna Seca and a display in the quaint town of Carmel-by-the-Sea.

The greatest part of this gathering is that, before setting off at around 8:00 AM, these vintage classics are all lined up for anyone to check out, and the crowds are fairly light. There are rare Ferraris, Maseratis, Bentleys and practically every other exotic brand just sitting there to walk up to and check out. Plus, you actually get to hear them start up and drive away.

As the vehicles complete their tour through the misty morning air, people set up chairs in Carmel to watch these classics go on display on the boulevard. Where else can you go to get the opportunity to smell a steam car’s slightly sweet exhaust and then see a bunch of vintage Rolls-Royces roll in within just minutes of each other? Autoblog’s Drew Phillips was on hand to snap photos of the fantastic vehicles on tour; take a look at the gallery.

2014 Pebble Beach Tour d’Elegance gives the best view in town originally appeared on Autoblog on Fri, 15 Aug 2014 14:01:00 EST. Please see our terms for use of feeds.

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15 Aug 2014

What you missed on 8.15.14

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Daily U-Turn

1962 Ferrari 250 GTO sells for record $38M

A few decades ago you could buy a crappy NBA franchise for $40 million; these days that princely sum will only net you one Ferrari. Provided the Ferrari in question is just exactly the right model, that is. 250 GTO models from the 1962 vintage have been trading hands for silly money for quite some time, though no public sale has rung up for this much ever before. The Pebble Beach festivities are only now kicking off in Northern California, but this sale should give one hell of a start to the auction season.

Hyundai talks performance at Rally Finland

Traveling with Hyundai to check out the always-exciting Neste Oil Rally Finland, we came back with quite a few stories to tell. Keeping abreast of point totals is easy, but forecasting the near future for the WRC grid is both trickier, and more interesting. While we were at it, Hyundai just happened to drop a few tidbits about the future for its upcoming N performance brand, as well. Read it all, here.

The next Corvette ZR1 will be mid-engined

We know, we know. You first heard the legend of the upcoming mid-engined Chevy Corvette when you were just a babe at your grand pappy’s knee. A few promising concept cars and decades worth of rumors have routinely been proved wrong for stories of this ilk, and yet, our friends at Motor Trend really do think that the engine of the next ZR1 might find itself behind the cockpit, when all is said and done. The truth is out there…

Top Stories

What you missed on 8.15.14 originally appeared on Autoblog on Fri, 15 Aug 2014 19:30:00 EST. Please see our terms for use of feeds.

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14 Aug 2014

1989 Ferrari F40 review had one Italian cyclist seeing rosso

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We’ve got to say: we’re really enjoying the MotorWeek incarnation of this Throwback Thursday trend that seems to be enveloping everyone’s social media feeds. MW has an almost impossibly deep library of historical tape to draw from, meaning each recent Thursday has met with another gem dropped on YouTube.

The last old-timer that drew our interest (and yours, based on all the comments) was a sports car showdown of epic, 1990s proportions. Today though, we’ve got one of the most legendary supercars of all time, the Ferrari F40, presented with the wholesome goodness that is John Davis’ signature style. Any classic road test of the the F40 would probably earn our clicks, but this particular video comes with some added drama around the 5:10 mark.

Don’t rush there, it’s fun to listen to the period-correct praise along the way, but prepare yourself for a near-miss that’s almost as breathtaking as the Ferrari itself.

Continue reading 1989 Ferrari F40 review had one Italian cyclist seeing rosso

1989 Ferrari F40 review had one Italian cyclist seeing rosso originally appeared on Autoblog on Thu, 14 Aug 2014 17:01:00 EST. Please see our terms for use of feeds.

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13 Aug 2014

Ferrari 250 GTO could fetch as much as $75 million at auction

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Ferrari 250 GTO

Last month we reported on a Ferrari 250 GTO heading for the auction block at Pebble Beach. We knew at the time it would break records and bring in tens of millions of dollars. But now that the gavel is about to drop, it looks like even our projections could fall short.

According to a report on Bloomberg, citing the classic car authorities at Hagerty Insurance, the GTO in question (pictured above) could fetch upwards of $60 million and as much as $75 million when the auction takes place two days from now in Monterey, CA.

Hagerty’s reported estimate would not only blow the previous records out of the water, but would eclipse the pre-sale estimate attributed to Bonhams, the auction house handling its sale, which placed its value between $30 million and $40 million.

The last time we heard of a 250 GTO trading hands (through a private party sale, as they usually do), it reportedly sold for $52 million. The current record for the most expensive car ever sold at auction was also set by Bonhams last year when it auctioned off Juan Manuel Fangio’s 1954 Mercedes-Benz W196 “Silver Arrow” grand prix racer for nearly $30 million. Whether it’s Bonhams’ estimate, Hagerty’s projection or the precedent of that last GTO that ultimately prevails, we’re almost certain to have a new world record on our hands this weekend.

Ferrari 250 GTO could fetch as much as $75 million at auction originally appeared on Autoblog on Wed, 13 Aug 2014 10:56:00 EST. Please see our terms for use of feeds.

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13 Aug 2014

What you missed on 8.13.14

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Daily U-Turn

All hail the 2015 Dodge Charger SRT Hellcat2015 Dodge Charger SRT Hellcat

Now they’ve gone and done it. By dropping the ludicrous supercharged Hemi V8 from the Challenger Hellcat into the chassis of the four-door Charger, Dodge has created what it is calling the The World’s Most Powerful Sedan. For those unaware, there are a total of 707 freaking horses stampeding under the long hood of the Charger you see to your right, all sent to the back wheels in what we imagine will result in the most glorious burnouts the world has ever seen.

2015 Subaru WRX long-term updateAutoblog long-term Subaru WRX

It’s been lovely having the 2015 Subaru WRX in our long-term fleet. Even with terrible weather recently making things miserable for our Detroit crew, our WR Blue Subie didn’t miss a beat, delivering our editorial staff to their desired destinations with plenty of turbocharged aplomb. But we’ve also been finding a few flaws with the darling ‘Rex. Read all about ’em, here.

Mom surprised by new carSon surprises his mom with a 1973 Saab

Aww, shucks. While we start feverishly shoving pennies, nickels and dimes into a piggy bank in an effort to start saving up to buy our collective mothers their dream cars – my dear Mom would love to cruise her ‘hood in a classic Beetle convertible – join us in watching the surprised reaction of one such mother as she’s handed the keys to her own, a 1973 Saab 99 in a lovely shade of orange.

Top Stories

What you missed on 8.13.14 originally appeared on Autoblog on Wed, 13 Aug 2014 19:31:00 EST. Please see our terms for use of feeds.

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12 Aug 2014

The 11 most expensive American cars ever

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Here’s a Pro Tip for all you would-be classic car investors out there: buy Ferraris. With the Pebble Beach festivities kicking off this week, including any number high end car auctions, we thought it would be entertaining to compile a list of some to the most expensive cars ever sold with the bang of a gavel. Trouble is, once you get past the splendor of everyone’s favorite Italian sports car maker, that list is pretty boring.

Ferrari dominates the all-time auction sales list; seven of the top ten most expensive cars sold wear the Cavallino Rampante badge, as well as more than half of the top fifty. Sure, a nearly $30-million Mercedes-Benz W196 racecar might be the new top dog as of last year, but it’s even possible that Ferrari could take that title back in Monterey this weekend. Long story short: we think a list of the most expensive American cars ever sold at auction is a lot more entertaining to read. Hell, our list has a friggin’ Batmobile on it, how can it go wrong?

Follow on below for the top ten cars that are red, white, blue and a whole lot of green.

Continue reading The 11 most expensive American cars ever

The 11 most expensive American cars ever originally appeared on Autoblog on Tue, 12 Aug 2014 12:45:00 EST. Please see our terms for use of feeds.

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12 Aug 2014

Xcar tries to figure out what makes the Miata so great

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Mazda Miata History

Over the past 25 years and 3 model generations, the Mazda MX-5 Miata has shown that you don’t have to be the best to be a massive success. The little, Japanese roadster has never been the absolute peak of automotive performance, but it’s precise handling, good reliability and frugal running costs have helped make it a star. Autoblog recently tried to give you the experience of driving one on video, and now Xcar Films has made its own in an attempt to show what makes this droptop an icon.

As Xcar puts it, the Miata isn’t the world’s best sports car, but it is the world’s favorite. When they were originally designing the roadster, Mazda’s engineers took everything that made British droptops from the ’60s great, and junked all of the stuff that made them a terror to own. The result was a car that would start up everyday with no fuss and get drivers wherever they needed to go with a huge grin on their face.

The fourth-generation Miata is imminently on the way for its September 3 unveiling, and the very early rumors indicate that Mazda doesn’t plan to rock the boat too much with the latest one. It supposedly rides on a longer wheelbase and wider track but with the weight trimmed by over 200 pounds. Check out Xcar‘s video for a primer on MX-5 history and why the automotive world loves this little roadster.

Continue reading Xcar tries to figure out what makes the Miata so great

Xcar tries to figure out what makes the Miata so great originally appeared on Autoblog on Tue, 12 Aug 2014 17:00:00 EST. Please see our terms for use of feeds.

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12 Aug 2014

A Ferrari Dino 308 GT4 retrospective, by Gear Patrol

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Ferrari 308 GT4

When we think of desirable Ferraris from the 1970s, the choices are somewhat thin. Obviously, there was the 365 GTB/4, better known as the legendary Daytona, but that was initially a product of the 1960s. Really, aside from the arrival of the stylish 308, the 1970s weren’t a strong decade for Ferrari.

As Ferrari the brand grows, though, even some of its less-desirable cars are becoming popular among enthusiasts. Considering that, we should begin hearing more mid-70s Ferrari love, such as that being espoused by Anthony Rimicci, for his Dino 308 GT4.

As the first mass-produced, mid-engined V8 Ferrari, the Dino-badged 308 GT4 can best be thought of as the earliest ancestor to the 458 Italia (other mid-engined Ferraris, like the 250LM and 288 GTO are more akin to the Enzo and LaFerrari). It was also the final car in the Dino line, while many of the vehicles were rebadged as Ferraris, following lackluster sales.

Take a look at the video from Gear Patrol to see what it was about this 1970s relic that captured Rimicci’s attention.

Continue reading A Ferrari Dino 308 GT4 retrospective, by Gear Patrol

A Ferrari Dino 308 GT4 retrospective, by Gear Patrol originally appeared on Autoblog on Tue, 12 Aug 2014 14:58:00 EST. Please see our terms for use of feeds.

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12 Aug 2014

Range Rover #1 headed to auction block

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1970 Land Rover Range Rover

There’s a scene in the Nicholas Cage version of Gone In 60 Seconds, where the lead car thief marches into a Ferrari dealership and laments a newer version of Maranello’s finest, claiming he saw three outside his local Starbucks and calling their drivers “self-indulgent wieners,” before talking about a 1967 275 GTB/4. The salesman rightly points out that purchasing such a car would make Cage’s character a connoisseur. This is Land Rover’s equivalent of that 275 – the very first Range Rover, wearing chassis number 001.

The rare Land Rover is slated to cross the Silverstone Auctions’ block on September 4, where it’s expected to fetch anywhere from 100,000 to 140,000 pounds ($167,000 to $235,000 at today’s rates).

Built in late 1969, this particular example was registered some six months before the Range Rover’s official launch date. It was considered “lost” until the 1990s, according to Silverstone, thanks in large part to a new Bahama Gold paint job and registration changes. Since its rediscovery, this numbers-matching SUV underwent a six-year, ground-up restoration.

Take a look up top at our fully gallery of images of this rarity, and then scroll down for the press release. And if you happen to be in London in early September and have about $230,000 burning a hole in your pocket, pick this classic. Then head to Starbucks and show up the self-indulgent wieners of the world.

Continue reading Range Rover #1 headed to auction block

Range Rover #1 headed to auction block originally appeared on Autoblog on Tue, 12 Aug 2014 14:16:00 EST. Please see our terms for use of feeds.

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