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1964 Ferrari 250 LM expected to net $12-15 million at RM's NY auction

If you're one of the very fortunate souls that has $12 to $15 million burning a very large hole in your pocket, we've found the perfect way to liberate yourself from the burden of so much money - buy this Ferrari, which is being put up for auction. It's a supremely rare Ferrari 250 LM, the 24th member of a 32-car run, that rolled off the assembly line on what we imagine was a brilliant, sunny Italian summer's day in July of 1964.
Officially known as Chassis 6107, this 250 LM is rare because unlike its brothers, it wasn't originally bought to be a race car. Its first owner used it more or less as a toy, both around town and on the infamous Mulholland Drive, in California. After a pair of owners, it found its way into the hands of an Ecuadorian pair, who kicked off its racing career. Its best result was at the 1968 24 Hours of Daytona, where it finished eighth overall and first in class, although subsequent runs at Daytona and Sebring were less successful. Its most recent owner was a Japanese collector, who purchased the car in 1983 and has had it on display ever since.

Montezemolo steps down, Marchionne steps up as chairman of Ferrari

If the history of an automaker is divided up by the mandate of its leadership, then this is surely the end of an era for Ferrari. After repeatedly locking horns with Fiat Chrysler CEO Sergio Marchionne over a variety of issues, longtime Ferrari chairman Luca di Montezemolo has announced his resignation.
Montezemolo has a long history with both Fiat and Ferrari. He started his career at the former before moving over to the latter in 1973 (only a few years Fiat took over half of Ferrari), starting out as Enzo Ferrari's assistant. He was appointed head of the Scuderia the following year, driving the team to success and subsequently taking over all of the Fiat group's racing activities. After the Prancing Horse marque struggled in the wake of its founder's death in 1988, Montezemolo was appointed to take it over in '91 and has been at the helm ever since.
Following Fiat chairman Gianni Agnelli's passing in 2003, both Montezemolo and Marchionne were named to the Fiat board. A year later, after the passing of Gianni's younger brother Umberto, Montezemolo was named chairman of the Fiat Group (to be succeeded six years later by Agnelli heir John Elkann) and Marchionne its chief executive.

2015 Ferrari California T [w/video]

I'll never forget the day I bought my very first Ferrari. It was a bright-red F40, I'd saved up for it for what felt like an eternity and I couldn't wait to get home so I could park it next to my other four-wheeled piece of pride and joy, a stealth-black Lamborghini Countach, so I could compare their blunt-edge, wedge-like shapes and massive spoilers in microscopic detail.
The year was 1987, and the event felt like the pinnacle of my life's achievement. Though both of my Italians had been die-cast in 1/18th scale, I coveted the two supercars with the verve of a true collector, taking in the intricacies of their engine bays, opening their doors and turning their working steering wheels. In reality, the two could have hardly been more different, and yet they both looked like finely crafted perfection to my seven-year-old eyes, their questionable day-to-day practicality completely overshadowed by their unquestionably exotic shapes.
More than two decades later, I'm belting myself into the driver's seat of the 2015 Ferrari California T, the first turbocharged Ferrari since the F40 went out of production in 1992. The Tuscan countryside spreads out ahead, a twisting barrage of two-lane roads on the agenda, and I can't help but reminisce of my much younger self as I twist the red key and thumb the equally red ignition button on the steering wheel.