Those of you who prefer wine and cheese over beer and burgers would probably find yourself at the Monterey Car Week 2022 & Pebble Beach Concours d’Elegance rather than the Woodward Dream Cruise – both are held on the third weekend of August. While your author is firmly in the latter’s camp, he appreciates the bonkers amount of money being tossed around at the former.

As they often do, RM Sotheby’s will be using the occasion to hold a high-dollar auction. Lots include the likes of a 1955 Ferrari 410 Sport Spider by Scaglietti allegedly raced by Fangio himself.

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Former millionaire and ex-owner/CEO of Interlogic Outsourcing Najeeb Khan has been forced to sell off his entire car collection after declaring bankruptcy last year. Accusations of fraud from former clients and businesses partners really put Mr. Khan through the financial wringer. Multiple lawsuits claim the company failed to hand clients’ tax money over to the Internal Revenue Service — encouraging Khan to sell his business to Pennsylvania-based payroll firm PrimePay. While that certainly sounds suspicious, any determinations on his guilt are best left to the professionals.

Since Khan’s company has little to do with the automotive sphere, we’re not overly concerned with the details of the alleged monetary malfeasance, anyway. The important issue, from our perspective, is he now has to sell off his remaining assets. That includes investments made into various businesses, multi-million-dollar homes, and 281 vehicles — many of which are highly valuable and incredibly rare.  (Read More…)