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The most expensive cars ever: Ferrari 250 GTO sells for $38 million

By Tim Pollard Motoring Issues 15 August 2014 10:19 A 1962 Ferrari 250 GTO Berlinetta sold overnight for a record $38,115,000 (£22,528,626) at the prestigious Bonhams Quail Lodge Auction held during Monterey Car Week. At a stroke, the Ferrari has become the most valuable car in the world, overtaking the 1954 Mercedes W196 R F1 Racer which sold for $30m at an auction at the 2013 Goodwood Festival of Speed. Tellingly, seven of the top 10 most expensive cars ever sold at auction were Ferraris (see our list below).

Brits take the world steam land speed record – twice +video

The British Steam Car Challenge team has set a new land speed record for a steam car at 148.308mph All of which tends to suggest – admirable though the achievement is – that steam technology has not moved on much in 100 years. An improvement of around 1mph a decade. Still, a challenge is a challenge, and the team on the British Steam Car Challenge rose to the occasion.

Autoweek in review: coupes, trailers and rarities

We rang in the week with good news as we found out that the Cadillac ATS will bring a coupe version when the new model arrives next year. We also saw the final trailer for the Oscar-worthy “Fast and Furious 6.” On Tuesday, we checked out the McLaren P1 testing in the Arctic and saw the cars of the upcoming “Grand Theft Auto V” video game, which included pickup trucks, supercar clones and motorcycles. Midweek, we reviewed the 2013 Ford C-Max Hybrid and found that the 2014 Lexus IS will only cost $885 more than this year’s.