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07.24.

Fangio Mercedes Racer W196 Sells for a Record $29.7m at Bonhams Auction

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For classic car aficionados, Ferrari and Mercedes are the 2 names that will never lose its sheen in terms of the value escalation in the vintage and classic car market. We had earlier told you about the most historic 1954 Mercedes-Benz W196 Grand Prix racing car scheduled to go on Bonhams Goodwood Festival of Speed auction in Britain. The car driven by the five-time world champion Juan Manuel Fangio of Argentina has been sold for a record $29.7m, making it the most valuable motor vehicle ever sold at auction, beating the previous record of $16.39 million set by a 1957 Ferrari 250 Testa Rossa at the Gooding & Company’s sale in 2011.

Though there have been few private sales of vintage Ferrari cars that have dominated the Guinness record book, the 1954 Mercedes-Benz W196R Formula 1 single-seater became the most expensive Mercedes-Benz car ever sold at auction.
Robert Brooks, Bonhams Chairman, said: “I have handled some of the world’s most desirable and important motor cars during a motoring auction career spanning five decades, but I have reached a peak today with this legendary Grand Prix car. It is not only one of the most significant motor cars of the 20th century, but also the most important historic Grand Prix racing car ever offered for sale.”

The post-war example of Mercedes automotive excellence, the car with chassis number ’00006′ also has not just historical significance, but the car also sports innovative design. The W196 racer was built due to a change in the FIA governing body of international motor sport Grand Prix regulations in 1954, which required cars to have unsupercharged engines of no more than 2½-litres.

It was the first open-wheeled car with a lightweight body, an in-line 8-cylinder fuel-injected engine, with power take-off from the center of the engine, all-independent suspension, and with three different wheelbases.

The iconic car is one of just nine surviving examples with six of these owned by Mercedes and the rest of the three are in museums. Reportedly, this one is a very rare privately-owned example sold by the Emir of Qatar, who acquired it from the German industrialist Friedhelm Loh about eight years ago.

After the W196 cars with their enclosed wheels proved difficult to place upon the more twisty venue of the following British Grand Prix at Silverstone, Fangio requested an open-wheeled W196 variant for the following German Grand Prix on the twisty 14.2-mile Nurburgring road circuit. Mercedes-Benz reacted instantly, tailoring new cars ’00005′ and ’00006′ to Fangio’s recommendation.

It was in chassis ’00006′ that Fangio immediately won the German Grand Prix. He then repeated the feat in the following Swiss Grand Prix on the daunting Bremgarten forest circuit at Berne – storming round at uncatchable pace in ’00006′ to win by 58.7 seconds from Argentine compatriot Jose Froilan Gonzalez’s out-classed Ferrari. This Swiss victory was Fangio’s third in four Grand Prix races, and assured him of his second Drivers’ World Championship title.

 

 

art, autos, cash, expensive, vintage

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07.23.

Becoming Millionaires by Selling Domain Names

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Business.com made headlines for being the most expensive domain name in the world when it was sold for $7.5 million in 1999.  The record lasted till 2006 when it was broken by Sex.com which sold for a whopping $14 million in 2006 when Gary Kremen of Match.com decided to quit the adult entertainment industry.  The market for resale of domain names is pretty strong, though not as much as it was during the peak of the dot-com era.  There is a business that amounts to millions of dollars in the resale of domain names.  The most expensive domain name sold is Insure.com that was sold in 2009 for $16 million.  There were many other worthy domain name sales that happened in 2009 which include Toys.com and Candy.com.

It is frustrating when you find out that someone else has beaten you to a domain name and it is even more frustrating when you learn that they are parking it with a motive of reselling it to you at an inflated price.  Here are ten domain names that have turned their owners into millionaires:

 

1. Sex.com

Sex.com earned a whopping $13,000,000 and is the top selling domain name till now.

 

2. Fund.com

Fund.com might not be a perfect domain name, but it was worth a little under 10 million dollars ($9,999,950) when it was bought in 2008.

 

3. Porn.com

Porn.com was sold in May 2007 with its self-explanatory name for  $9,500,000.

 

4. Fb.com

Fb.com does ring a bell as people now identify it with Facebook also known as “FB”.  Perhaps this domain name was based on the owner’s initials, but boy did he strike gold with this one!  Along the years, Mark Zuckerberg, the founder of Facebook decided to buy fb.com for $8,500,000 in 2010.

 

5. Diamond.com

This domain name is another one that is obvious and that is why it was bought for $7,500,000.

 

6. Beer.com

Beer.com has got to be a favourite with men, as ‘beer’ is majorly googled by them.  This one was bought for a whopping seven million dollars in 2004.  However, there is nothing you see on the website as it appears to be a parked domain waiting for the prospective bidder! r pocket.

 

7. Casino.com

This one is a successful website as online gambling has become a fast-catching trend nowadays; however, the sad part here is that it did not quite fetch a high price as it was sold for $5,500,000 in 2003.

 

8. Slots.com

This was sold at the same price of Casino.com ($5,500,000) and that too seven years earlier!

 

9. Toys.com

This domain name was purchased by the toy giant ToysRUs in 2009 for $5,100,000.

 

10. Asseenontv.com – $5,000,000

This domain name was sold in 2000 for five million dollars because reality TV was on the upswing and purchasing it was a shrewd business decision.   However, this domain is still parked and awaiting a lucrative deal.

cash, invention, Uncategorized, wasted money, website

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07.15.

Warren Buffett Makes a $2 Billion Donation to Bill Gates Foundation

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Warren Buffett, Berkshire Hathaway’s chairman and chief executive officer, saw a surge in his fortune as his company shares (BRK/A) rose by 29 per cent to $115.42 this year.  This perhaps prompted him to revise his annual contribution to the Bill Gates Foundation as this time he has give a record $2 billion which is a donation that has surpassed his previous record of $1.8 billion that he had donated in 2008.  Bill Gates, the founder of Microsoft Corp., the second richest man in the world and a close friend of Warren Buffett had inspired him to take up philanthropy through the foundation that was set up by him and his wife, Melinda Gates.

Buffett became a trustee of the Melinda and Bill Gates Foundation and is now the world’s third richest man whose net worth amounts to $61 billion, as per the Bloomberg Billionaires Index, which ranks the wealthiest people on a daily basis.  Buffett has taken a philanthropic pledge as he contributes to various charities such as the Melinda & Bill Gates Foundation as well as his own charities Susan Thompson Buffett Foundation, which has been named after Mr. Buffett’s late wife, and the Howard G. Buffett Foundation, which has been named after Mr. Buffett’s son.

Buffett has also donated around 1.75 million worth of Class B shares to the Susan Thompson Buffett Foundation, which supports the cause of education amongst other causes.  He also gave around 1.22 million shares to his other family charitable foundations- the Howard G. Buffett Foundation; the NoVo Foundation that is managed by his son Peter and his wife; and the Sherwood Foundation.   Buffett has pledged to donate to five charities that include the Bill Gates Foundation that is focused on alleviating poverty around the world.  Mr. Buffett had pledged to donate around $31 billion seven years ago to the Bill gates Foundation and had also pledged that a majority of his fortune would be dedicated to philanthropy and the wealth would go to the five charitable foundations that he supports.

Buffett has also campaigned considerably for promoting charity amongst the wealthy people through an initiative called ‘Giving Pledge’.  Buffett is known for his views on accumulating wealth and he states his view about philanthropy: “The truth is I have never given a penny away that had any utility to me.”  The billionaire goes on to say how difficult it is for the ‘not so rich’ to donate as they would perhaps be giving up on a movie, a dinner date or even a trip to Disneyland.   In fact, both Bill Gates and Warren Buffett had effectively managed to rope in wealthy contributors to give away a portion of their wealth by committing themselves to the ‘Giving Pledge’.

cash, celebrity, expensive, website

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07.09.

Howard Stern Buys Luxurious $52 Million Florida Mansion

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The news is now official. Judge on popular American show America’s Got talent, Howard Stern  has bought the $52 million beachfront mansion in Florida, USA. Textile tycoon Martin Trust had put the mansion up for sale and Howard Stern was lucky enough to buy the same, considering the impeccable views the mansion offers of the Florida’s coastline.

 

The property has over five bedrooms and has a covering area of around 19,000 square foot, thus making it luxurious in true sense. An outdoor pool adds to the ambiance of the property and Howard Stern can expect to spend some private moments with his family at the beach side mansion.

 

As per Palm Beach Daily News, this is one of the biggest property sale of the year in the region. Howard Stern who is also a radio broadcaster had been searching for a pristine location for his wife Beth Ostrosky and the Florida beachfront mansion has seemed to make this possible for Howard.

 

The custom build Palm was build in 1992 in an area measuring 3.25 acres and lies South of the Palm Beach Country Club in Florida.

The mansion offers exclusive views of Florida’s coastline and Howard can rejuvenate himself for his hectic schedule by spending some private moments at the property alongside his wife Beth Ostrosky for whom he has purchased the exclusive property.

 

 

art, celebrity, Mansions

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