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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).

Ferrari 458 Speciale with active aero debuts at Frankfurt

The only thing better than a 458 is, of course, a lighter, stronger and more aerodynamically efficient 458. Toward that end, Ferrari unveiled the 458 Speciale at Frankfurt, a successor of sorts to the Challenge Stradale and 430 Scuderia, previous specials that, as good as they were, wouldn't last a race on the same lap as this one. “This is the most powerful V8 Ferrari, never made before,” said Ferrari chairman Luca di Montezemolo, who still speaks much better English than we could ever hope to speak Italian.

Jaguar's E-Type sculpture unveiled at Goodwood

As is tradition at the Goodwood Festival of Speed, organizer, Lord March has commissioned a dazzling art piece to dominate the skyline above this year's event. Two years ago, Audi showcased a 1937 Auto Union Streamliner and a R8 V10 as part of its display, whilst last year Alfa Romeo displayed an 8C honouring the brand's centenary. This year it's Jaguar's turn to that take pride of place in front of Goodwood house.