A 1955 Ferrari 410 Sport Spider sold for $22 million Saturday at an RM Sotheby’s auction in Monterey, Calif., as collectors race to buy cars priced like Picassos.
The cherry-red race car was the closely watched star of Monterey Car Week, a series of nearly $500 million in glitzy car auctions that coincide with a car competition known as the Pebble Beach Concours d’Elegance. Collectively, the weekend serves as the equivalent of the Kentucky Derby for car aficionados, with events running through Sunday.
