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Wheel Fever - by Craig Hill

Ferrari 250 GT Auction Record

February 24th 2009 12:45
Despite the recession, record United States prices are expected to be reached in the annual ‘Automobiles of Amelia Island’ held by RM Auctions in March.

Headlining the list, with an estimated hammer fall of around US$3 million ($4.65m), is a 1959 Ferrari 250 GT LWB California Spyder.

The Pininfarina-penned design rendered into metal reality by auto maestros Scaglietti, and carrying a 179kW 3-litre V12 engine and a four-speed manual gearbox, is the 23rd of a total of about just 50 LWB Spyders ever built.

Built for Prince Alvise Hercolani of Modena, who sold it six months later to race driver Wolfgang Seidel, it features unusual front fender vents and bonnet air intake.


Ferrari Spyder
Ferrari Spyder


Also showcased in the auction listing is the `Yellow Peril’ 1911 Oldsmobile Autocrat race car, with an enviable track history dating up to classic events in the 1980s, but with many early trophies in its cabinet are from races on dirt. It’s said to have often competed with the fenders and lights removed for weight savings, and had a home-made fuel system that was a pioneering version of fuel injection.

Other cars going on the block include a 1954 Packard Panther-Daytona Roadster concept car – the only roadster version of the mere four Panther concepts built – with a one-piece fibreglass body and the first of the company’s wraparound windscreens.


Another rare concept is the 1941 Chrysler Newport Dual Cowl Phaeton, which was put to work as a pace car for the Indianapolis 500 and then retained by Walter P. Chrysler.

There is also a supercharged 1939 Bugatti Type 57C Faux Cabriolet known as `Charmaine, one of the last Bugattis built before WWII and tipped to possibly go for as low as $850,000, a 1953 Cunningham C-3 Cabriolet that could be yours for as little as $620,000, and a private collection of 1932 Fords – including a Roadster, a Cabriolet, a Woodie and a rare Ute.

Other cars on the list include

Top 10 car auction records (US$ prices)

1 1961 Ferrari 250 GT SWB Cal Spyder R M May-08 $10,894,400

2 1931 Bugatti Royale Type 41 Christie’s Nov-87 $9,800,000

3 1962 Ferrari 330 TRI/LM R M May-07 $9,281,250

4 1937 Mercedes-Benz 540 K Special Roadster R M Oct -07 $8,252,201

5 1937 Bugatti Type 57SC Atalante Coupe Gooding Aug-08 $7,920,000

6 1929 Mercedes-Benz 38/250 SSK Bonhams Sep-04 $7,443,070

7 1904 R olls-Royce 10hp Bonhams Dec-07 $7,254,290

8 1962 Ferrari 250 LM R M May-08 $6,979,000

9 1931 Bugatti Royale Type 41 Kruse Jun-86 $6,500,000

10 1962 Ferrari 330 TRI/LM R M Aug-01 $6,490,000

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Fiat Offers Lifeline To Chrysler

January 22nd 2009 07:58
When Chrysler Australia managing director, Gerry Jenkins, returned to work on Monday he saw a dark, stormy future.

Yesterday the storm clouds lifted with the announcement that Italian carmaking giant Fiat had thrown a lifeline to the embattled Chrysler Group in the US.

Both have signed a global agreement to share models, design, engineering and distribution networks.

The CEO of Fiat Group, Sergio Marchionne said the partnership "is a great fit as it creates the potential for a powerful, new global competitor".

Jenkins said the alliance would also give some security and vision for the future.

"I see pluses on both sides," he said.

Under the terms, Fiat will take a 35 per cent equity stake in Chrysler, which also includes Dodge and Jeep.

Fiat Chrysler


Fiat will also provide distribution capabilities in key growth markets, as well as substantial cost savings.

The deal is a key element of Chrysler's viability plan and will provide access to Fiat's small car platforms, engines and components to be produced at Chrysler manufacturing sites.

Chrysler, the third biggest carmaker in the US, has been dodging questions about a possible sale, asset sell-offs or alliances for months.

The company is majority owned by private investment group Cerberus Capital Management, which has no carmaking experience.

Analysts see the move as a strategic life-raft for the embattled US business.

At the recent Detroit Motor Show, Chrysler vice chairman and president, Tom LaSorda, even went as far as to say that the iconic Jeep brand was not for sale.

Fiat has been very successful in executing its own restructuring over the past several years.

In addition, Fiat will provide management services supporting Chrysler's submission of a viability plan to the US Treasury as required.

The alliance will also allow Fiat and Chrysler to take advantage of each other's networks and rationalise their respective manufacturing footprint and global supplier base.

The alliance will be consistent with the terms of the US Treasury financing to Chrysler, which includes contributing to the company's restructuring effort.

The deal is still subject to due diligence and regulatory approvals, including the US Treasury.

Fiat does not intend making a cash investment in Chrysler or commit to funding Chrysler in the future.

Over the past five years Fiat has signed several alliances and partnerships with leading carmakers and automotive suppliers.

The chairman and CEO of Chrysler, Bob Nardelli said the benefits are huge.

"Including access to products that compliment our current portfolio; a distribution network outside North America; and cost savings in design, engineering, manufacturing, purchasing and sales and marketing," he said.

Chrysler has previously has held alliances with Daimler, Mitsubishi and American Motors (Renault).

Herald Sun

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