A new world record was set in London At the latest RM Auctions event held on October 29 when a beautiful and rare British-made 1997 McLaren F1 supercar sold for $4 million.

One of only 75 examples made, the car on offer more than doubled its pre-sale estimate to the astonishment of observers who conjectured world economic factors might dampen bidders’ enthusiasm.

One of the first carbon fiber-bodied production cars, the F1 was the fastest street legal production car in the world for over a decade, the longest period the record has been held by any street legal or production car in the history of automobiles.

On August 15-16, the world-renowned auction house, RM Auctions, will present the Sports & Classics of Monterey, an auction event featuring a varied selection of the finest sports and classic cars in their largest offering to date – $50-60 million.

A rare and coveted 1958 Chrysler Diablo, considered the most valuable concept car of the late 1950s and conceived by Virgil Exner, will make its auction debut as one of the headlining cars alongside 24 Ferraris, the largest collection of Ferraris ever presented at the classic car weekend in Monterey.

Last year’s auction brought a record-breaking $46 million in total sales as 190 cars crossed the block. Nine cars broke the magic million-dollar mark !

A Ferrari 250 GT California Spyder once owned by U.S. actor James Coburn fetched nearly $11 million (5.6 million pounds) at auction, making it the most valuable vintage car ever sold under the hammer, organisers said on Monday.

The rare black convertible was one of 33 cars and scores of Ferrari memorabilia sold at auction on Sunday in the luxury sports carmaker’s hometown of Maranello in northern Italy.

The 7 million euro price paid by British radio and television host Chris Evans eclipsed previous records for cars sold under auction, organisers RM Auctions said.