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Ferrari 250 GTO hitting Bonhams in August – but how much will it sell for?

Will the Violati Ferrari 250 GTO (pictured) break the $60 million barrier? The last Ferrari 250 GTO Series 1 to hit auction rooms in 2012, fetched a remarkable $35 million, and last year another 250 GTO – chassis #5111 – was sold in a private deal thought to be worth $52 million. And now another Series 1 250 GTO is about to hit the sale room.

Toyota begins testing wireless recharging for electric cars

Toyota has announced that it will begin actual verification testing of its new wireless battery charging system for electric vehicles, one which charges the battery of a plug-in hybrid or a pure-electric car by having the car park over it. Toyota's charging system uses magnetic-resonance technology, which operates by transmitting electricity by using the magnetic resonance resulting from changes in magnentic field intensity between a coil positioned under the car, and a receiving coil built into the underside of the vehicle. This system eliminates the need for physically plugging in an electric car or a hybrid to an actual plug, and also has the potential to solve the problem of multiple types of actual plugs.

Jeff Koons creates 17th BMW Art Car

Jeff Koons has unveiled his latest creation the 17th BMW Art Car, a M3 GT2 racecar painted in a vibrant explosion of colors that will race at Le Mans on 12 June. "I wanted to make visual the raw dynamism, the power and the vitality of this car," he told CDN at the Centre Pompidou in Paris last week. "The car's biological narrative is to perform.