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Under the hammer, overseas: Russo and Steele explores classic-car auction in China

It's ambitious, it's unprecedented and it's loaded with pitfalls. But if it can be pulled off, it could serve as a template for international growth for American auction houses. Russo and Steele is expanding into China and has announced plans this fall to form a joint venture with a Chinese company as a foothold.

Chevrolet expanding into South Korea

Chevrolet, the most famous and best-selling General Motors brand, will expand into South Korea in 2011, the automaker said on Wednesday. Enthusiasts in South Korea are in for a treat: At the Busan International Motor Show where the announcement was made, Chevy showed a Camaro, which will be one of the products offered. Last year, Chevy accounted for 44 percent of GM's global sales and saw a sales increase of 21 percent over the previous year.

Bugatti Galibier 16C teased in extended YouTube clip

The Bugatti 16C Galibier was introduced to the United States at the Los Angeles auto show in 2009. It featured the same 16-cylinder engine as the Veyron with the same 1000-hp-or-so output. We didn't hear much about the car until last April when Bloomberg news reported that parent company VW OK'd plans to build the ultra-luxury sedan.