The gavel falls: Christie's gets out of the car auction business

After 25 years in business, Christie's International Motor Cars has conducted its last auction. Christie's didn't give any reason for closing down the division, other than being the result of a "strategic review of its various operations." The house has sold some of the world's rarest, most expensive, unobtainable, and coveted vehicles. Most recently, the firm auctioned Steve McQueen's 1963 Ferrari 250 GT Lusso at Pebble Beach (shown above). The car went for $2.31 million, almost doubling the highest estimate. The division will be closed as of this month.

[Source: Auto Week]