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Arizona auctions: Scottsdale sales net an estimated $157 million

WITH VIDEO -- Five days of sales staged by auto auction companies in the Phoenix area pulled in a combined estimated total of $157 million, according to Hagerty Insurance. The five companies staging auctions--Barrett-Jackson, Gooding & Co., RM Auctions, Russo and Steele and Silver Auctions--offered 2,887 lots for sale and sold 2,325 of them, an 81 percent sell-through rate. A 2006 Ferrari FXX Evoluzione at the Gooding auction was listed as the top single sale with a price of $2.09 million, Hagerty said.

Porsche 911 GT3 (2013) first official pictures

This is the new Porsche 911 GT3, a hardcore version of Stuttgart's 50-year old iconic sports car. It's just been unveiled on the eve of the 2013 Geneva motor show. To some it’s yet another 911 variant, but to many more this track-focused GT3 is the most anticipated Porsche of 2013, new 911 Turbo and 918 Spyder included.

Who's Where: Satoshi Wada to open independent design studio

Satoshi Wada, former Senior Designer at Audi AG and Nissan Design Japan, is set to open his own design studio. Called SWdesign TOKYO, his ambitious plan follows on from a growing line of design managers who have left successful OEMs to establish their own design practices. Wada, who resigned from Audi AG in Ingolstadt earlier this month, told CDN he is aiming "to create a new vision with my own independent design studio in Tokyo".