August 25, 2013

Auto Briefs

Ferrari auctioned for $27.5 million; more traveling for Labor Day

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(Bloomberg)

Ferrari fetches record price during auction
A 1967 Ferrari 275 GTB/4*S NART Spider (shown) sold for $27.5 million last week during an auction in Monterey, Calif., as the Pebble Beach Concours d'Elegance wrapped up. The final price, which included commission, makes it the most expensive road car ever sold at auction in the U.S. It was one of only 10 produced. Eddie Smith Sr., a self-made millionaire, bought the car for $14,500 when it was new, the equivalent of about $100,000 in today's dollars. Smith Jr. said the family decided to sell the car because it's been "kept in a prison" without being driven as much as their father would have liked. The money from the sale will go to charity.
The Associated Press




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(Thinkstock)


More to hit the road for Labor Day travel

Labor Day holiday weekend travel is expected to increase 4.2 percent over last year, says AAA Travel. Eighty-five percent of those traveling 50 miles or more from home will be going by car. An increase in consumer spending and improvements in the housing market are fueling the increase. AAA forecasts gas prices to remain less expensive than last year.
NWautos staff

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