Looking for an excuse to plan a last minute trip to Italy? RM Auctions in conjunction with Sotheby’s is holding an exclusive Ferrari auction on May 18th in Maranello at the Ferrari Factory, where the legend was born. The auction includes 25 rare racing and street-legal Ferraris, as well as 85 lots of Ferrari memorabilia from the Francorchamps Collection.

Featured cars include a 2004 Enzo, a 1963 250 GT/L Berlinetta, a 1967 275 GTB/4, a 1961 250 GT SWB California Spyder, a 1958 250 GT LWB California Spyder, and a 1950 166/195 Inter Berlinetta, among others. Prices range from five to seven figures, with the most expensive lot being the 1961 250 GT SWB California Spyder, estimated at 3.2 to 3.6 million euros.

For more information: RM Auctions

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Back in March we showed you some speculation drawings based on Ferrari’s new V8 entry-level model, which the Italian automaker will be officially unveiling in September at the Paris Motor Show. Well, Ferrari decided not to keep us in the dark any longer, and they’ve released images and specs on their new V8 GT, officially dubbed the Ferrari California.

The California sports a number of historically new features for Ferrari, including a mid-front position engine, a folding hard top, and an emission-reducing 7-speed dual clutch transmission. The GT also comes with a new multilink rear suspension system and carbon-ceramic material brake discs.

Reported performance stats on the Ferrari California are impressive, with the 4.3-Liter V8 producing 460 horsepower and clocking 0-62 mph in under 4 seconds.

[via WorldCarFans]

• Ferrari California GT Coupe-Cabriolet Convertable Pictures Released
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Ferrari’s new entry-level concept, temporarily dubbed Dino, is already slated to be the main attraction at the Paris Motor Show this October. While details on the car are still up in the air, speculation indicates that the car will either sport a 400-hp V8 or a 2.5-liter V6 that also runs on ethanol. A designer from New Zealand, Idries Noah, has drafted some preliminary sketches revealing what the new Ferrari could look like with the latter of the two engines. Noah’s concept, named F250, draws its name from Ferrari’s 1960’s model 250 GTO. The real design will likely differ, but we wouldn’t mind if it looked like Noah’s. As we learn more details closer to the show, we’ll keep you posted. The Paris Motor Show (Mondial de l’Automobile) will run from October 4-19, so you’ve got some time to book your flight if you want to see Ferrari’s Dino up close and personal when it hits the stage. Two more images after the jump.

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In 1966, Ford’s MkII racecar beat out Ferrari’s P3 at Le Mans, prompting Ferrari to develop a new prototype to reclaim victory. Under the technical direction of Mauro Forghieri, Ferrari’s Maranello Racing Department crafted the faster and more powerful V12 P4, with which Ferrari finished 1-2-3 at Daytona and followed with a win in the Monza 1000 Kilometers.

However, in the big race at Le Mans in 1968, the P4 lost out to the superior 7.0 liter Ford Mk IV, which bested the P4’s top end by a significant 15 mph. Following the loss at Le Mans, Ferrari retired the P4 and took a two year hiatus from the F1 circuit until it returned in 1970 with its 512.

Today only three known P4’s remain, and they are all parked behind museum doors. Were they to hit the auction block, each P4 would fetch an estimated $15 million.

Fortunately, legendary racecar builder Bob Norwood has recreated the P4 in all of its glory. Norwood’s Autocraft shop, based in Dallas, Texas will produce two custom P4’s replicas this year, each carrying a price tag of $400,000 to $500,000 depending on options.

Each of Norwood’s P4’s comes stocked with a late model Ferrari V12 engine coupled to a Maranello 6 speed manual gear box. A power to weight ratio of only 3.68 assures a quick, exciting ride. To be exact, the P4’s 515 bhp propel the racer from 0 to 60 mph in 4.0 seconds.

Available through: Norwood Autocraft [via FerrariChat]

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This past Saturday, a 1959 Ferrari 250 GT LWB California Spider sold for $3.3 million at the inaugural Gooding & Company Scottsdale Auction. The car set this year’s record for the most expensive vehicle sold at the 2008 Scottsdale Auction Week. The Ferrari is one of only fifty long-wheelbase California Spiders ever produced.

All told, 64 cars were sold at the Gooding & Company auction for more than $21 million total. Seven cars sold for more than $1 million individually. World-record sales were set for the Alfa Romeo 6C 1750 ($1.54 million) and the Rolls-Royce Phantom II Streamline Saloon ($852,000).

• RM to Host Exclusive Ferrari Auction on May 18
• 42 Monster Garage Creations Hit the Auction Block at Barrett-Jackson
• Ferrari P4 V12 by Norwood

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