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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).

Hennessey HPE700 Twin Turbo Corvette to bow in Boca

If you saw the 455-hp Chevy Corvette Stingray and thought, “I’ll hang on to my money for something faster,” and then you saw the 625-hp Corvette Z06, and said, “It’s a little too wild-looking for me,” the Hennessey HPE700 Twin Turbo Corvette might be just right The Texas-based tuner will reveal its latest, surprisingly tasteful offering at the Boca Raton Hangar Party that kicks off the Boca Raton Concours on Feb. 21. Hennessey claims 707 hp at 6,400 rpm along with 661 lb-ft of pavement-shredding torque in this new modified ‘Vette.

Barrett-Jackson's Las Vegas auction draws drivers

Though you'll see the usual assortment of restored muscle cars and one-of-a-kind automotive delights at the Barrett-Jackson Las Vegas auction, it's the buyers who make this event a little different, organizers say. "Most of the vehicles we sell in Vegas go to first-time buyers--and they want drivers," said Craig Jackson, CEO of the auction company. "They're end users and drivers, rather than speculators." Those buyers will have a wide variety to choose from at the fourth-annual Barrett-Jackson Las Vegas auction, which kicks off on Sept.