With the recession hitting wealthy collectors over the last year, the auction houses have faced one of their toughest seasons in years. This year, we saw auctions where great works of art did not find potential buyers. But some of the auctions really.

Ferrari’s 250 series of cars have always turned out to be the record breakers and as expected, the iconic 1957 Ferrari 250 Testarossa (chassis no. 0714TR) has set a new world record for the most expensive motor car ever to be sold at an auction....