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First Corvette Stingray Convertible sells for $1 million

The first Chevrolet Corvette Stingray to be built has been auctioned for charity by Barrett Jackson  and bought by Rick Hendrick for $1 million. The new Corvette Stingray Convertible was offered for sale this weekend at Barratt Jackson’s auction in Palm Beach, Florida, with GM donating the healthy proceeds of $1 million to the Barbara Ann Karmanos Cancer Institute. The Stingray Convertible was bought by wealthy NASCAR team owner Rick Hendrick, who can now add the Stingray Convertible to his collection of cars, which also includes the first of the new Stingrays for which he paid $1.1 million.

Confirmed: special Ferrari for 60th anniversary in USA

It’s been a busy week for Ferrari chairman Luca di Montezmolo. First he announced his resignation (effective from October) from the Italian sports car firm after 23 years at the helm. Then he proclaimed record financial results for Ferrari for the first six months of 2014 (£101.4 million profit) before declaring a special Ferrari model will be unveiled in October to celebrate 60 years of the Prancing Horse in America.

One Lap of the Web: Ferrari goulash and Abarth gnocchi

-- South Korea's automotive legacy may not be as rich as, say, Czechoslovakia's, but don't tell collector Baek Joong-gil that. Not to his face, anyway. He might be behind the wheel of one of his five hundred cars, which includes such rarities as the Kia T-600 (Kia's first car, built under license from Mazda in 1963); the Cadillac Fleetwood of former president Park Chung-hee; and Korea's oldest fire truck.