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☆ BTS’ Jin discharged from army service in South Korea
▼ + stars: | 2024-06-12 | by ( Reuters | Gawon Bae | ) edition.cnn.com time to read: +2 min

CNN —Wearing a uniform and black beret, Jin, the oldest member of K-pop phenomenon BTS, was discharged from South Korea’s army on Wednesday after 18 months of duty. He is the first member of the group to wrap up the mandatory national service that put their music careers on hold. The 31-year-old appeared emotional as he hugged his colleagues at a military base in Yeoncheon, Gyeonggi province, television footage showed. “I cried during the ceremony,” Jin said later during a livestream which racked up over 3 million views on the Weverse fandom platform. Beyond music, BTS members are bankable fashion icons.

Persons: CNN —, Jin, “, ” Jin, Louis Vuitton, Angela Weiss, Suga, Jimin, Valentino, Dior, Kim Jones Organizations: CNN, BTS, Getty, White Locations: South, Yeoncheon, Gyeonggi, Seoul, South Korea

☆ Home equity is near a record high. Tapping it may be tricky due to high interest rates
▼ + stars: | 2024-06-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

But tapping it may be tough due to high interest rates, according to financial advisors. Reverse mortgageA reverse mortgage is a way for older Americans to tap their home equity. A reverse mortgage is likely best for people who have much of their wealth tied up in their home, advisors said. A home equity conversion mortgage (HECM) is the most common type of reverse mortgage, according to the Consumer Financial Protection Bureau. watch nowA reverse mortgage is available as a lump sum, line of credit or monthly installment.

Persons: Selma Hepp, Hepp, Lee Baker, Atlanta . Baker, Kamila Elliott, Grace Cary, Elliott, Baker, Alexander Spatari, Cash Organizations: Getty, Apex Financial Services, Collective Wealth Partners, Consumer Financial, Bureau Locations: Cultura, Atlanta .

☆ 'Quiet wealth' takes on new meaning with super-private deals for mansions, art and classic cars
▼ + stars: | 2024-05-17 | by ( Robert Frank | ) www.cnbc.com time to read: +6 min

While public auction sales are declining in the art world, private sales — done behind closed doors between discreet buyers and sellers — are growing. Classic cars are also seeing a shift to private sales, especially with the most expensive and rare models. But its newly formed RM Sotheby's private sales division has seen its sales more than quadruple over the past four years, according to Shelby Myers, global head of private sales for RM Sotheby's. The rise in private sales for classic cars, art, real estate and other markets is being driven by social media, technology and cooling prices for collectibles. "They're leaving money on the table," said real estate broker Noble Black of Douglas Elliman.

Persons: Robert Frank, Phillips, Christie's, Mark Rothko, Ken Griffin, Ferraris, Shelby Myers, We've, Myers, Patrick Dovigi's, Steve Wynn, Thomas Peterffy —, Douglas, Ernie Carswell, Carswell, He's, Noble Black, Douglas Elliman Organizations: Christie's, CNBC, Sotheby's, Hamptons, Malibu , Bel Air, Beverly Locations: Sotheby's, Christie's, Manhattan, Malibu, Aspen, Palm, Manhattan's Greenwich, Palm Beach, Los Angeles, New York, Eastern, Palm Springs, Malibu ,

☆ Can MLB save the starting pitcher? The search for solutions to baseball’s ‘existential crisis’
▼ + stars: | 2024-05-14 | by ( Jayson Stark | Ken Rosenthal | ) www.nytimes.com time to read: +20 min

Ten active major-league starting pitchers have won a Cy Young Award — and nine of them have spent time on the injured list in 2024. The issue is not only the health of the modern starting pitcher, but the role those starters play in the sport these days. “You’ve got to get the starting pitcher back. But has the starting pitcher crisis risen to that level? If you’re a dominating starting pitcher in this era, it probably means you throw harder than the average pitcher.

Persons: Tom Seaver, Steve Carlton, Sandy Koufax, Bob Gibson, Pedro Martinez, Randy Johnson, ’, Cy Young, Baltimore’s Corbin Burnes, Yu Darvish, Justin Steele, ”, Max Scherzer, “ You’ve, Patrick Mahomes, isn’t, that’s, weren’t, here’s, It’s, they’d, you’re, they’re, David Ortiz, Scherzer, Justin Verlander, Adam Wainwright, they’ve, “, North America aren’t, I’ve, you’ve, ” Scherzer, Corbin Burnes, Patrick Smith, Rob Manfred, we’re, “ You’re, wouldn’t, it’s, “ that’s, He’s, Manfred, Eamonn Dalton, Conrad Williams , Jr, Matthew Grimes Jr Organizations: Cy, Wrigley, San Diego Padres, Chicago Cubs, Cubs, Padres, Major League Baseball, Texas Rangers, NFL, Athletic, MLB, American League, of Fame, didn’t, Atlantic League, Red Sox, National League, North America, Orioles, Newsday, Getty Images, Atlanta Braves, Getty

☆ Europe’s best long-distance hiking trails
▼ + stars: | 2024-05-10 | by ( Joe Minihane | ) edition.cnn.com time to read: +12 min

Slovenian Mountain Trail, SloveniaMountaineers climbing ridge on Triglav mountain, Slovenia. Enrique Ugarte/Moment RF/Getty ImagesIt’s no surprise that the Slovenia Mountain Trail has become so popular. Laugavegur Hiking Trail, IcelandInaccessible during winter, Iceland’s ethereal Laugavegur Hiking Trail opens between July and September, drawing in committed hikers from across the globe. The 55-kilometer (34-mile) route is best done over four days, giving time to tackle the challenging terrain and take in the views. Sheep’s Head Way, Cork, IrelandThe Sheep's Head Way explores Ireland's wild Atlantic coast.

Persons: It’s, Lapland’s Salla, King Charles III, Enrique Ugarte, John Muir, Muir, Muir’s, Mount Gamila, James, Alex Treadway, St James, Jean, Les Houches, Mont, Rota, Marc Guitard, marveling Organizations: CNN, Slovenia Mountaineers, Getty, Maribor, Triglav, National Parks ”, Sierra Club, Guinness, Hellas, Via Locations: Trail, Sweden, Hyssna’s, Gothenburg, Lilla Hålsjön, Finland Finnish Lapland, Finland, It’s, Hautajärvi, Lapland’s, Kuusamo, King Charles III England, England, Cornwall, Suffolk, Norfolk, Slovenia, Triglav, Ankaran, Adriatic, Julian, Scotland, Yosemite, United States, Helensburgh, Firth, Clyde, Dunbar, Forth, Loch Lomond, Mount, Zagoria, Greece, Mount Gamila, Apuseni, Romania, Europe, Camino Frances, France, Spain, Santiago, Santiago de Compostela, Galicia, Portugal, Camino, St, Pamplona, Leon, Sarria, Via Uno, Italy, Dobbiaco, Belluno, Passo Falzarego, Switzerland, it’s, Zernez, Blanc , France, Blanc, Les, Mont Blanc, Fishermen’s, Portuguese, Alentejo, Algarve, Iceland, Landmannalaugar, Brennisteinsalda, Hvanngil, Cork, Ireland, Bantry, Mizen

☆ Bernie Sanders: From small-town mayor to godfather of the progressive left
▼ + stars: | 2024-04-29 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

He got his start in government as a small-town mayor, decades before his 2016 and 2020 campaigns. Here's everything to know about the Democratic socialist senator. AdvertisementBernie Sanders is known today as perhaps the most important leader on the American left. In 2020, Sanders ran again, ultimately coming in second to now-President Joe Biden in the primary. Who Sanders is today — and what he's fighting forSince his 2020 campaign, Sanders has assumed a more institutional role in the United States Senate.

Persons: Bernie Sanders, —, Long, Sanders, Chuck Schumer, Donna Light, Douglas Graham, Hillary Clinton, Alexandria Ocasio, Clinton, Joe Biden, Who Sanders, Biden's, — Sanders, He's, Republican Sen, Chuck Grassley, Becca Balint Organizations: Democratic, Service, Democratic Party leftward, James Madison High School, University of Chicago, Liberty Union, Burlington City Hall, Newsday, Getty, Congressional, Senate, Democratic Party, United States Senate, Health, Education, Labor, Pensions, Israel, New York Times, Republican Locations: Vermont, Soviet Union, Brooklyn , New York, Poland, Chicago, Burlington, Burlington —, Alexandria, Cortez, Iowa

☆ Foreign companies have lost over $100 billion in the process of leaving Russia since it started the war in Ukraine
▼ + stars: | 2024-03-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Foreign companies exiting Russia over its invasion of Ukraine have amassed losses of $107 billion. Despite thousands pledging to leave, only 372 companies have exited Russia since the war started. At that time, foreign companies leaving Russia had lost over $80 billion in the departure process. Thousands of foreign companies pledged to leave Russia after it started the war in Ukraine. Other than writedowns and lost revenue, departing foreign companies have also been paying huge fees to the Russian government.

Persons: —, Vladimir Putin's, Ian Massey Organizations: Service, Reuters, Washington, Moscow . Companies, Kyiv School of Economics, Companies, HSBC, Polymetal International, Kremlin, RBC Daily, Ikea Locations: Russia, Ukraine, writedowns, Moscow

☆ Ukraine war live updates: Russia attacked by wave of Ukrainian drones, shelling; Vatican rows back on 'white flag' comments
▼ + stars: | 2024-03-12 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

Russian authorities said seven regions were targeted by a wave of Ukrainian drones overnight, with attacks carried out against the Belgorod, Bryansk, Kursk, Leningrad, Moscow, Oryol and Tula regions. Air defense systems destroyed and intercepted 25 Ukrainian drones (also known as UAVs, unmanned aerial vehicles) overnight over the regions, the Russian Ministry of Defense said, according to a statement published by the Tass news agency. In a separate report, Tass cited the defense ministry as saying it had foiled a separate attempt to target the border region of Belgorod with missiles and shelling. "In the morning, the Kstovo industrial zone, a fuel and energy complex facility, was attacked by unmanned aerial vehicles. Ukraine has repeatedly targeted Russian territory with drones on previous occasions, however, particularly targeting energy and fuel infrastructure, such as oil refineries.

Persons: Gleb Nikitin, Holly Ellyatt Organizations: Russian Ministry of Defense, Tass, Russian Federation, Ukrainian Armed Forces, Ministry of Defense, CNBC Locations: Belgorod, Bryansk, Kursk, Leningrad, Moscow, Oryol, Tula, Kiev, Nizhny Novgorod, Ukraine

KYIV, Ukraine (AP) — A missile strike on the Russian city of Belgorod near the Ukraine border on Thursday killed six people, including a child, and injured 18 others, a Russian official said. It was the latest in exchanges of long-range missile and rocket fire in Russia's war on Ukraine. Five of the 18 people injured in Belgorod, a city of around 340,000 people, were children, regional Gov. Dozens of people were killed and injured in an attack there over Russia’s New Year holiday weekend. The Russian missiles used on Thursday included Iskander ballistic missiles, Kalibr cruise missiles, guided aviation missiles and adapted S-300 anti-aircraft missiles.

Persons: Vyacheslav Gladkov, Roman Starovoit, ”, Vladimir Putin’s, Oleh Syniehubov, Volodymyr Zelenskyy, Olaf Scholz, Zelenskyy, Kamala Harris, Andrii Sadovyi, ___ Burrows Organizations: Gov, Telegram, Tass, Russia’s Ministry of Defense, Security, U.S, Ukraine, Command Locations: KYIV, Ukraine, Russian, Belgorod, Russia, Ukraine's, Russia's Kursk, “, Ukrainian, Velykyi, Kharkiv, Kyiv, Lviv, salvos, France, Berlin, Germany, Russia’s Kursk, London, russia, ukraine

TAIPEI, Taiwan (AP) — Ruling-party candidate Lai Ching-te emerged victorious in Taiwan’s presidential election on Saturday, a result that will determine the trajectory of the self-ruled democracy’s contentious relations with China over the next four years. Beijing strongly opposes Lai, the current vice president who abandoned his medical career to pursue politics from the grassroots to the presidency. It's the first time a single party has led Taiwan for three consecutive four-year presidential terms since the first open presidential election in 1996. Its candidate, Hou Yu-ih, also had promised to restart talks with China while bolstering national defense. Evelyn Ni traveled from China especially to get a taste of Taiwan’s election.

Persons: Lai Ching, Lai, Tsai Ing, Hou Yu, Hou, “, I’m, David Chiau, Ko Wen, Ko, Chen Binhua, Beijing wouldn't, ” Chen, Antony Blinken, ” Blinken, Evelyn Ni, Tony Chen, ”, Xi Jinping, Stacy Chen, Gabrielle Reid, Sung Organizations: Democratic, Nationalist, KMT, ih, Taiwan People’s Party, DPP, Cabinet's Taiwan Affairs Office, Biden, Associated Press Locations: TAIPEI, Taiwan, China, Beijing, Japanese, United States, Taipei, Russia, Ukraine, South China

☆ Why doesn’t the US have more passenger trains?
▼ + stars: | 2023-11-25 | by ( Samantha Delouya | ) edition.cnn.com time to read: +12 min

Today, the United States’ passenger rail system is an echo of its former self, with swathes of the network unused or surrendered to freight. In 1970, President Richard Nixon signed the Rail Passenger Service Act, which removed the requirement that private rail companies provide passenger service. Mike Segar/ReutersBut many American towns and cities have lost access to passenger trains. Can passenger trains make a comeback? A passenger rides an Amtrak train passing near the Pacific Ocean on November 9, 2021 near Oceanside, California.

Persons: you’ll, Biden, ”, Miguel Medina, JP Morgan, Jay Gould, Cornelius Vanderbilt, Christian Wolmar, “, Yonah Freemark, Bing Guan, Freemark, Dwight D, Eisenhower, Harvey Weber, Paul Hammond, Hammond, Richard Nixon, Daniel Patrick Moynihan, Mike Segar, Ulysses S, Grant, Al Drago, Joe Biden, ” Freemark, Robert Puentes, It’s, ” Puentes, Mario Tama, Brightline, Carline Jean, Tony Coscia Organizations: Los Angeles CNN, Washington , D.C, Brightline, Miami, US Department of Transportation, du, Getty, Amtrak, US, Transcontinental Railroad, Central Pacific Railroad, Union Pacific Railroad, Railroad, CNN, Bloomberg, United States Senate, Newsday, Colorado Railroad Museum, Rail, Service, Hall, Pennsylvania, Bureau of Transportation Statistics, Washington DC, Eno Center for Transportation, Private, Las, Passengers, West Palm Beach, Fort, South Florida Sun Sentinel, Tribune Locations: Europe, Asia, America, United States, Boston, Washington ,, Orlando, California, Los Angeles, San Francisco, Swedish, Paris, AFP, France, Japan, China, Promontory Point , Utah, Compton , California, American, Levittown , New York, Manhattan, New York City , New York, U.S, Indiana, Ohio, Baltimore, Baltimore , Maryland, Potomac, Delaware, Oceanside , California, South Florida, Las Vegas, West Palm, Fort Lauderdale, Florida, South

☆ BTS members RM, Jimin, V and Jung Kook enlist for military service
▼ + stars: | 2023-11-22 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

CNN —Four more members of South Korean boy band BTS are set to start their compulsory military service as the group’s hiatus continues. This means all seven members of BTS are now either serving in the South Korean military or in the process of enlisting. “We would like to inform our fans that RM, Jimin, V, and Jung Kook have initiated the military enlistment process,” the band’s music label BIGHIT Music wrote in a statement. “The artists are preparing to fulfill their military service duties. “We ask you for your continued love and support for RM, Jimin, V, and Jung Kook until they complete their military service and safely return.

Persons: “, Jung Kook, –, Jin, Suga Organizations: CNN, South Korean, BTS, BIGHIT Music, Spotify Locations: Jimin, South Korea, South Korea’s

☆ Most expensive Ferrari ever auctioned fetches $51.7 million
▼ + stars: | 2023-11-15 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

CNN —A 1962 Ferrari 250 GTO has sold for $51.705 million, becoming the most expensive car from the Italian manufacturer ever sold at auction. “Now, it ranks among the most expensive cars sold at auction, a true testament to its singular place in history,” he added. Only 39 examples of the 250 GTO were built by the legendary Italian marque between 1962 and 1964, and it’s extremely rare for an owner to part with one at any price. Renowned car collector David MacNeil, founder and CEO of automotive floor-mat company WeatherTech, bought chassis number 4153 GT for $70 million in 2018. “The Ferrari 250 GTO is the motoring market’s equivalent of Van Gogh’s ‘Sunflowers’ and a talisman for any top-end collection,” said Knight.

Persons: Gord Duff, ” Duff, Le, ”, David MacNeil, James Knight, Van, “ Organizations: CNN, Ferrari, Scuderia Ferrari Locations: Sotheby’s, New York

☆ A Ferrari Sold at Auction for $52 Million
▼ + stars: | 2023-11-14 | by ( Kelly Crow | ) www.wsj.com time to read: 1 min

A 1962 Ferrari 250 GTO just sold for $52 million, the second highest price a car has ever been auctioned for. Photo: Sotheby’sA cherry red, 1962 Ferrari 250 GTO known for its rarity and winning race history has become the second-most expensive vehicle ever sold at auction. RM Sotheby’s sold the car for $52 million on Monday, below its $60 million asking price, as the market for collectible cars falters slightly along with other collecting categories. The top-selling car is a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe, a prototype that was auctioned for $142 million last year and one of two ever manufactured.

Persons: Sotheby’s Organizations: Benz

☆ A Ferrari Sold At Auction for $52 Million
▼ + stars: | 2023-11-14 | by ( Kelly Crow | ) www.wsj.com time to read: 1 min

Persons: Sotheby’s Organizations: Benz

☆ 1962 Ferrari Brings $51.7 Million at Sotheby’s
▼ + stars: | 2023-11-13 | by ( Julia Halperin | ) www.nytimes.com time to read: +1 min

A bright red Ferrari with a storied history sold for $51.7 million, with buyer’s fees, on Monday, becoming the most expensive automobile from that Italian carmaker ever sold at auction. RM Sotheby’s, the automobile seller in which Sotheby’s bought a controlling stake in 2022, offered the 1962 Ferrari 330 LM/250 GTO by Scaglietti with an unpublished estimate of $60 million. Two bidders drove the price to $47 million before auction-house fees. Sotheby’s promoted the car as a luxury object, offering it in a stand-alone sale during its marquee fall auctions of fine art in New York. There are only 36 Ferrari 250 GTOs in existence, produced between 1962 and 1964.

Persons: Sotheby’s, Oliver Barker —, Europe —, Jonas Wood, Ralph Lauren, Nick Mason, Pink Floyd Organizations: Ferrari Locations: New York, Europe

☆ Could Matthew Perry’s Chandler-Speak Be Any More Memorable?
▼ + stars: | 2023-10-30 | by ( Jennifer Vineyard | ) www.nytimes.com time to read: +3 min

2194,” Perry initially settled for coaching other actor friends on how to play Chandler for their auditions. But even with Perry’s assistance, Chandler’s delivery did not land the same. But much of the character’s personality, like his discomfort with silence and need to fill it with quips, came directly from Perry. “If I had to put the emphasis in the wrong place one more time, I thought I’d explode,” he wrote. But it was too late: Chandler-speak had permeated the culture in America and beyond.

Persons: “ L.A.X, ” Perry, Chandler, ”, ” Crane, Perry, Chandler Bing, —, Jeff Greenstein, Jeff Strauss, “ Chandler, ” Kauffman, Ana de Armas, ” de Armas, Matthew Perry —, Julia Roberts Organizations: BTS, Cuban Locations: Perry, America, Spanish

☆ A mystery owner has just put a collection of 56 Porsches up for auction — and they're all white
▼ + stars: | 2023-10-05 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Auction house RM Sotheby's did not disclose the collection's mystery owner. AdvertisementAdvertisementA rare collection of 56 white Porsches is heading to the auction block. Named "The White Collection," the car collector's unusual trove was announced by auction house RM Sotheby's on Tuesday. RM Sotheby's is delighted to announce The White Collection: a collection of nearly 60 rare Porsche sports cars, entirely in white. https://t.co/Mmt5dL5Jep pic.twitter.com/Yh9UxWdiec — RM Sotheby's (@rmsothebys) October 2, 2023The collection "represents over a decade of dedicated collecting by one perfection-focused owner," RM Sotheby's said.

Persons: —, Mmt5dL5Jep, Sotheby's, Barron's, Ferrari, Andreas Birner Organizations: Service, Porsche, Prix, Carrera, Sotheby's, Benz, Guinness, World Records Locations: Houston , Texas

☆ Why these Korean moon jars sell for millions at auction
▼ + stars: | 2023-09-15 | by ( Christy Choi | ) edition.cnn.com time to read: +9 min

‘Owning a piece of happiness’The first moon jars were created in the royal kilns in Gwangju (a city just outside Seoul, not the larger southern city of the same name) from 1650 to 1750. A modern-day moon jar made by South Korean potter Kwon Dae Sup, who said: "To appreciate a moon jar properly, you should look beyond its simple shape. He works out of a studio in Gwangju, where the royal kilns that produced moon jars were once located. Moon Duk Gwan/Axel Vervoordt GalleryKwon Dae Sup lifts a large moon jar into a kiln. Moon Duk Gwan/Courtesy Axel Vervoordt GalleryThere’s a great deal of preparation that goes into making a moon jar traditionally.

Persons: Alain de Botton, London’s Victoria, Beth McKillop, ”, Angela McAteer, “ You’ve, it’s, Yanagi Soetsu, Bernard Leach, Leach, Lucie Rie, Charlotte Horlyck, Sotheby’s, Kwon Dae, Axel Vervoordt, Choi Sunu, South Korea’s, Yu Woo, you’ve, Mark, Rothko, “, Ceramist Kim Syyong, Yun, Choi Bo Ram’s, Kwon, Duk Gwan, Duk, There’s, ” Kwon, Axel Vervoodt Organizations: CNN, Albert Museum, British Museum, Boston’s Museum of Fine Arts, University of London’s School of Oriental, African Studies, Art Bulletin, National Museum of, BTS Locations: New York, Americas, Europe, Gwangju, Seoul, British, South Korean, National Museum of Korea, ”, South, Korean

☆ Frieze art fair returns to South Korea, offering boost to Asia’s art market
▼ + stars: | 2023-09-07 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Seoul, South Korea Reuters —The Frieze art fair returned to South Korea for a second year on Wednesday, with dealers hoping the event would provide a boost for the burgeoning local art market, after economic woes triggered a slump in sales this year. The fair, run by Endeavor Group-owned Frieze, made its Asia debut in South Korea last year, drawing over 70,000 visitors. Visitors take a look around at the Frieze art fair in Seoul, South Korea. Kim Hong-Ji/ReutersDespite this backdrop, the South Korean and the Asian art market remain resilient, Patrick Lee, Director of Frieze Seoul, told Reuters. "Weave Magenta, 2023" (right), by artist Sean Scully, on show at Frieze Seoul 2023.

Persons: Kim Hong, Patrick Lee, “, Lee, ” Lee, Seungjin Chung, Sean Scully, Jung Yeon, Jungmin Cho, ” Organizations: South Korea Reuters, Hyundai, Endeavor Group, Ministry of Culture, Tourism, South, Korea Arts Management Service, Visitors, Frieze, Reuters, G, Getty, BTS Locations: Seoul, South Korea, Asia, Frieze Seoul, China, Japan, AFP

☆ Frieze Art Fair returns to South Korea, offering boost to Asia's art market
▼ + stars: | 2023-09-06 | by ( Hyunsu Yim | ) www.reuters.com time to read: +3 min

[1/6] Visitors take a look around at the Frieze art fair in Seoul, South Korea September 6, 2023. REUTERS/Kim Hong-Ji Acquire Licensing RightsSEOUL, Sept 6 (Reuters) - The Frieze Art Fair returned to South Korea for a second year on Wednesday, with dealers hoping the event would provide a boost for the burgeoning local art market, after economic woes triggered a slump in sales this year. The fair, run by Endeavor Group-owned (EDR.N) Frieze, made its Asia debut in South Korea last year, drawing over 70,000 visitors. South Korea's art market reached 1 trillion won ($750.85 million) in revenue for the first time in 2022, according to data from the Ministry of Culture, Sports and Tourism. Despite this backdrop, the South Korean and the Asian art market remain resilient, Patrick Lee, Director of Frieze Seoul, told Reuters.

Persons: Kim Hong, Patrick Lee, Lee, Seungjin Chung, Jungmin Cho, 1,331.8200, Hyunsu Yim, Hyun Young Yi, Sharon Singleton Organizations: REUTERS, Rights, Art, Hyundai, Endeavor Group, Ministry of Culture, Tourism, South, Korea Arts Management Service, Frieze, Reuters, G, BTS, Thomson Locations: Seoul, South Korea, Rights SEOUL, Asia, Frieze Seoul, China, Japan

☆ The most expensive cars sold at Pebble Beach, even amid disappointing auctions
▼ + stars: | 2023-08-21 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Total sales for the more than 1,200 cars sold over five auctions at Monterey and Pebble Beach reached $397 million, the second-highest total ever for the auctions according to Hagerty, the classic-car insurance company. "The cooling market we've observed for the past 15 months finally reached the Monterey auctions after having little impact last year," Hagerty said in a report. Total online collector-car auctions pulled in around $1.9 billion last year, just below the $2.4 billion from live auctions, according to Hagerty. Bonhams sold a 1967 Ferrari 412P for $30.25 million, which made it the the fourth most expensive Ferrari ever sold. Here are the three most expensive cars sold and what they went for.

Persons: Ferrari, Hagerty, Knight Frank, Knight Frank ., Sotheby's, Bonhams Organizations: Monterey, Monterey ., Monterey Car, Ferrari, RM Sotheby's Locations: Monterey, Pebble

☆ Here's what it would take to restore the rusted remains of a 1954 Ferrari purchased for $2 million to its glory days
▼ + stars: | 2023-08-20 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Scraps of a rare 1954 Ferrari 500 Mondial Spider Series I were just sold for about $1.9 million. The buyer could end up investing another $2 million just to restore the car, a Ferrari expert said. In "very good condition," the model can be worth up to $4 million to $5.5 million, the expert said. The remnants of a Ferrari 500 Mondial Spider Series I were recently sold at RM Sotheby's auction for about $1.9 million, and it may take another $2 million just to restore the car to its glory racing days, a Ferrari historian told Insider. "A Ferrari 500 Mondial Spider Pinin Farina in restored or at least very good condition is currently in the wide range between $4M and $5.5M," Birner wrote.

Persons: Pinin Farina, Franco Cortese, Cortese, Walter Medlin, Sotheby's, What's, Andreas Birner, Birner, Ferrari's, Ferrari, … Organizations: Morning, RM, Pininfarina, Ferrari, Mondial, Mille, Sotheby's, Ferraris, New York Times, The Times Locations: Italian, Italy, Maranello

☆ A rare, bright-red Ferrari 250 GTO that initially sold for $6,000 in 1964 could soon be auctioned for $60 million
▼ + stars: | 2023-08-18 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

RM Sotheby's has put up a 1962 Ferrari 250 GTO for auction for around $60 million. Car collectors love the GTO model Ferraris because of their championship history, Gord Duff, RM Sotheby's global head of auctions, told the Journal. In fact, another 1962 Ferrari 250 GTO was auctioned by RM Sotheby's for more than $48 million back in 2018, CNBC reported. A 1963 Ferrari 250 GTO was reportedly bought by David MacNeil, the founder, and CEO of WeatherTech, for $70 million in 2018, per various media reports at the time. RM Sotheby's sold a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe for the equivalent price of $142 million last year.

Persons: Jim Jaeger, Jaeger, Ferrari, Gord Duff, That's, David MacNeil, Sotheby's, Duff Organizations: Sotheby's, Ferrari, Service, Street, Scuderia Ferrari, CNBC, CNN, Benz Locations: Wall, Silicon, Ohio, Detroit, New York, Monterey , California, it's

☆ This twisted hunk of metal that used to be a Ferrari just sold for $1.TK million
▼ + stars: | 2023-08-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —A hulk of dented, torn and scorched metal that was, decades ago, a Ferrari race car just sold at an RM Sotheby’s auction in California for $1.9 million. One of only 13 made, this 1954 Ferrari Mondial Spider Series I wasn’t one of Ferrari’s fabled V12 models but a an entirely different design. This car, a different 1954 Ferrari 500 Mondial Pinin Farina Spider, was offered for sale on the auction site Bring A Trailer in September, 2021. The most expensive Ferrari ever sold at auction was the 1962 Ferrari 250 GTO, which was also on the block at RM Sotheby’s. The price includes the RM auction house commission, and the buyer is undisclosed.

Persons: it’s, Ferrari, Pinin Farina, Franco Cortese, Pinin Farina Spider, Walter Medlin, Brian Rabold, drivable, Rabold, ” Rabold Organizations: CNN, Ferrari, Pininfarina, Ferrari Mondial Spiders Locations: dented, California, Scaglietti, United States

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