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McLaren F1 sells for $8.47 million at Gooding & Co’s Pebble Beach Auction

McLaren F1 chassis #66 (pictured) has sold for $8.47 million There’s been an inexorable rise in the price of classic cars in recent years as rich men realise that certain classic cars not only have huge appeal, but appear to be going only one way in price. Add to that – certainly in the UK – that any profits made on the sale of a classic car you’ve bought for your own enjoyment are tax free, and it’s no shock that values keep rising, and the rarer the car the more they rise. So with only 64 road cars made, the McLaren F1 can be considered a sound investment, with values rising since it first sold in the 1990s for around £640,000 to a new world record auction price set last night of £8.47 million (around £5.42m).

New Lamborghini Estoque saloon concept revealed

By Chris Chilton First Official Pictures 01 October 2008 20:00 After Lamborghini's endless string of frustrating teaser shots, here, finally, are the full pictures of the Aston Rapide-rivalling four-seat Lamborghini supersaloon, the Estoque.     The concept sports a V8, but Lamborghini is incredibly open-minded about possible powertrains. The Gallardo’s V10 will be offered but engineering boss Maurizio Reggiani told CAR that a powerful turbodiesel or possibly a hybrid petrol electric drivetrain would probably also be offered.

MOT test scrapped for Classic Cars

MOTs scrapped for Classic Cars The Department for Transport has announced it is scrapping MOT tests for cars registered before 1960. In a move that probably won’t make much difference to owners – but will at least cut down on red tape – the Department of Transport has announced that from 18th November 2012 owners of cars registered before 1960 will no longer require an annual MOT. The argument for the change is that owners of classic and historic cars have a much lower accident and MOT failure rate than other vehicles on the road.