Two 1958 Ferrari convertibles captured the top prices at a week of classic car auctions in Arizona that raised $248.6 million, an 11 percent advance on the equivalent events last year, according to Hagerty, a U.S.-based classic car price database.

A restored Ferrari 250 GT California LWB Spider sold for $8.8 million with fees at RM Auctions on Jan. 17, leading the Arizona sales held by six companies. They are regarded as the second-most important series of such events in the U.S. after Pebble Beach, California, in August.

Read more

Source: http://www.bloomberg.com