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Shell Ultimate Automotive Enthusiast contest returns to send winner to Barrett-Jackson and Maranello

The first Shell V-Power Ultimate Enthusiast contest was held last year and sent finalists to a VIP experience at the Barrett-Jackson auction in Scottsdale, while the grand prize winner went to Maranello, Italy for some intimate time with Ferrari. The Dutch member of the seven sisters is doing it again this year: from now until September 17 anyone who wants a chance to live the same adventure can submit stories and photos that prove why they're the ultimate enthusiast.
Among the judging panel will be Roger Penske, Craig Jackson of Barrett-Jackson, drag racer Don Prudhomme, Tony Marini of Hot August Nights, Car and Driver chief Eddie Alterman, Road & Track honcho Larry Webster and last year's contest winner Harold Craige (pictured above with his wife at Fiorano).
Anyone in the US is welcome to submit. Three finalists will be flown to Scottsdale for a three-day VIP tour of Barrett-Jackson's January action, and they'll get a year's worth of V-Power premium gasoline. The grand prize winner will be announced in Arizona, and that person will get a week in Italy to explore the Ferrari factory complex and drive one of the company cars on the Fiorano track. Having been to the Maranello factory ourselves, we can attest that it's a bucket-list item for anyone who truly digs cars.

Ferrari to pay Fiat Chrysler $2.8B prior to spinoff

Fiat Chrysler Automobiles is trying to get capital together in a hurry to finance the automaker's growth plans. Among its strategies to raise money, Ferrari will be spun off from the FCA mothership next year with an initial public offering. However, the Italian supercar maker will be a couple billion dollars poorer at the start of its new life.
According to a filing with US regulators obtained by Automotive News, FCA intends to "enter into certain other transactions including distributions and transfers of cash from Ferrari currently estimated at 2.25 billion euros ($2.8 billion)" before it spins the supercar maker off. Those funds might include paying a dividend to investors, and FCA possibly transferring some of its debt to the Prancing Horse.
The Ferrari IPO will likely be in the second or third quarter of 2015, according to Automotive News. Ten percent of the automaker will go onto the public market in the US and possibly Europe too, and 80 percent will be distributed among current FCA shareholders. The other 10 percent is held by co-chairman Piero Ferrari, according to AN.

$11.55 million 1964 Ferrari 250 LM highlights RM Auctions' first night in Monterey

Some of the biggest auto auctions of the year are held during the weekend of the Pebble Beach Concours d'Elegance. Millionaires gather in hopes of outbidding their contemporaries for incredibly rare cars. As Bonhams' record sale on Thursday of a 1962 Ferrari 250 GTO for $38 million showed, these days the world's most expensive vehicles are found at auctions, often with a prancing horse on the nose.
RM Auctions' Friday sale reinforced this even more when a 1964 Ferrari 250 LM topped the evening by bringing in $11.55 million, after the 10 percent commission. It wasn't the only million-dollar vehicle of the event, though. A 1965 Ford GT40 Roadster Prototype garnered $6.93 million, and a 1966 Shelby Cobra 427 brought $1.705 million. Even a classic 1948 Tucker 48 had a final price of $1.57 million.
Surprisingly, some rather new cars actually brought in quite big money, too. A 2013 Bugatti Veyron 16.4 Vitesse Le Ciel Californien sold for $2.42 million, and a 2006 Ford GT with just 13 miles sold for $407,000.