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Rod Temporo and his team in New Zealand work out of a chicken shed, but they create exacting replicas of vintage racers from scratch. This 1962 Ferrari 250 GTO might not be an authentic example, but the years of work in its creation are an astounding example of automotive artistry.

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Collector car insurance company Hagerty estimates that $1.3 billion in classic vehicles crossed the auction block in 2014 in North America, up slightly from 1.2 billion in 2013. About a third of that was just during the Monterey Car Week.

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When a car is worth millions of dollars, you don't simply write it off when it's damaged – you have it painstakingly repaired. But when that car's worth tens of millions, there's hardly any expense to be spared in its restoration. So after a rare Ferrari 250 GTO crashed a couple of years ago during a special event, its owner (presumably at the behest of his insurance company) sent the damaged specimen back to the factory for a full restoration to its original condition.

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The classic Ferrari broke the world record for cars sold at auction

A 1962 Ferrari 250 GTO broke the record for cars sold at auction when it went for $38 million Thursday night at a Bonhams auction during Monterey Car Week.

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This weekend's Pebble Beach Concours d'Elegrance brings together some of the rarest and most expensive automobiles in the world onto a tiny peninsula in California jutting out into the Pacific Ocean. But this year, there has been one vehicle on everyone's lips – a 1962 Ferrari 250 GTO. Bonhams put up this incredibly rare Prancing Horse at no reserve for its auction at the Quail Lodge, meaning it could have sold for just a dollar. It didn't though, this ex-Jo Schlesser owned Ferrari sold fo

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Last month we reported on a Ferrari 250 GTO heading for the auction block at Pebble Beach. We knew at the time it would break records and bring in tens of millions of dollars. But now that the gavel is about to drop, it looks like even our projections could fall short.

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We've seen watchmakers use all sorts of methods to make their timepieces more attractive to automotive enthusiasts, from carbon-fiber dials and titanium cases to the logos of partnering automakers and racing series. Some have even designed all-new watches to go with a specific make or model. But Christopher Ward has taken things a step further with its latest chronograph.

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Remember that Ferrari 250 GTO that we reported on last week, supposedly listed on mobile.de for $64 million? Well, don't go putting down your deposit just yet, because it might be a fake.

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UPDATE: A previous version of this article incorrectly listed the production period for the 250 GTO. The text below has been updated with the correct information.

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It's not every day that a Ferrari 250 GTO changes hands. It is, after all, one of the most highly coveted cars ever made, and there were only 39 of them built in the first place. So when one goes up for sale, it tends to fetch millions. Tens of millions, actually, and the prices keep escalating.

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We've never, ever accused Petrolicious of slacking when it comes to the quality of cars it features. Each week brings a new, exciting, rare vehicle that has some special quality or provenance to it. But this week's video... it's beyond everything else the series has ever done.

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The Ferrari 250 GTO ranks as perhaps the most valuable production car ever made. In just the past two years, units of the ultimate '60s sports car have sold for $32 million, $35 million and maybe as high as $52 million. With just 39 of them ever assembled, these Ferrari owners are among a rarefied class of an already top-tier class of car collectors. So once you collect the ultimate car, then what do you do? How about buy a scale model of it hewn from a single block of Arabescato marble by stone

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Records are made to be broken, and it seems that one may have just been snapped again. An Italian website is reporting that a Ferrari 250 GTO, owned by American collector Paul Pappalardo, recently sold for $52 million.

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The entry list for all of the events in this year's Rolex Monterey Motorsports Reunion totaled 15 single-spaced pages long. That's explains how the field for this past weekend's Trans-Am race contained 41 cars, which is a larger field than ever competed in a real Trans-Am race.

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It often seems that cars worth millions of dollars are kept under lock and key in climate-controlled garages, never to see the open road. Christopher Cox's 1962 Ferrari 250 GTO is not one of the those cars. The American investor drives the car, one of just 39 built, regularly and has participated in numerous events around the world since he purchased it in 2005. In fact, we've seen the brightly colored 250 GTO, worth an estimated $30+ million, in person no less than five times including last sum

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Bloomberg reports that a 1962 Ferrari GTO has been sold for $35 million, making it the most expensive car in the world. The record price eclipses the $32 million paid for a 1964 Ferrari 250 GTO back in February and the $30-34 million dished out for a 1936 Bugatti Type 57SC Atlantic back in 2010.

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Widely regarded as one of the most sought-after cars ever made, it's not every day that a Ferrari 250 GTO changes hands. But that day, according to reports out of the UK, has come.

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As wanderers of the infinite Internet wastelands, we've seen some pretty bizarre drag races, but nothing compares to the event that takes place in the video after the jump. In it, a classic Ferrari 250 GTO is pitted against the most unlikely of competitors; a Polaris Ranger RZR XP 900. The Ferrari gets the benefit of a tarmac launch while the UTV is left to put its 875cc engine's motive powers to the grass-covered ground. How does the race turn out? We'll let you watch and see for yourself, but

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Nobody can throw an anniversary party like the folks at Pebble Beach. To celebrate 50 years of the Ferrari 250 GTO, the world's most famous classic car show convened an incredible collection of Enzo's most coveted creation. And what a gathering it was. More than half of the 39 250 GTOs in existence were on display – the official number quoted was 22, although we could only count 21. The line of cars literally stretched farther than our cameras could capture. Factoring in the going rate of

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Seeing a Ferrari 250 GTO in action is something that should be on every car enthusiast's bucket list. For us, it's been checked off this weekend. Last week we saw several 250 GTOs participate in the Pebble Beach Tour, driving up and down Hwy 1 on the Monterey coastline, and just a few days later we headed to the track to see them in action at Mazda Raceway Laguna Seca.

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Every year on the Thursday before the Pebble Beach Concours, each of the entrants is given the opportunity to prove its roadworthiness on the scenic roads of 17 Mile Drive and Highway 1. A good selection of cars are usually up to taking on the challenge, although some are better equipped than others.

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