A 1957 Ferrari 250 Testa Rossa just sold for $16.4 million at the Gooding & Co. sale in Monterey, California. The sale was one of many automotive events in connection with the annual Pebble Beach Concours d’Elegance car show, and the $16.4 million price tag is a new record for cars sold at auction.

The world’s automakers have been steadily realizing the enormous potential of the Chinese market. Luxury automakers in particular have begun to design with an international trajectory in mind. Rolls-Royce, the seeming king of luxurious motor coaches, is embracing an international market by celebrating the Chinese Year of the Dragon with a limited edition model Phantom.

Access has long designed luxury jets for the elite, but only recently the company set out to customize those jets. Access has officially launched their premium jet customization unit, called ‘Access Custom Jets’, which will cater to an elite segment looking to personalize their flying machines.

London has overtaken New York as the world’s fashion capital for 2011, according to a survey by the Texas-based trend analyzer, Global Language Monitor.

Based on a system that tracks the frequency of words and phrases in print, electronic and social media, London has officially claimed the top spot – a spot which New York has proudly claimed for several years previous. The sudden fashion switch, likely the result of a surge in media interest fueled by the tragic suicide of British designer Alexander McQueen, and the Duchess of Cambridge’s glamorous nuptials, which have turned her into a global fashion icon.

After years of hype, Leonardo DiCaprio finally got his hands on the most highly-anticipated and pricey hybrid car, the 2012 Fisker Karma.

Paul Mitchell hair product founder John Paul DeJoria, a self-made billionaire, wants to own a piece of the former Versace mansion in South Beach.

Willie Brown just can’t stay away from L.A. these days: the former San Francisco Mayor was recently dining at not one, but two, Wolfgang Puck restaurants in a row (Spago and Chinois), even taking the time to chat up the chef at each famed eatery. When he heard that Wolfgang’s biggest business lately is his expanding steakhouse brand Cut, which the chef recently brought to London, Brown immediately saw an opportunity. “I recommended to him that he come back to San Francisco and rescue Postrio by turning it into a Cut,” says Brown.

Danish Yachts recently launched its newest model, the 121-foot Shooting Star. The luxury yacht is the culmination of many Danish suppliers working closely with the specifiers and technicians at the shipyard, to ensure that the systems work seamlessly and that the quality of finish reflects the highest possible standards for which Danish Yachts is renowned worldwide.

Dubai Multi Commodities Centre Authority (DMCC), the Government of Dubai’s entity for enhancing commodity trade flows through Dubai, has unveiled the prototype of the first gold bullion coin in the UAE, which will also serve as the first legal tender in the UAE and the Middle East as a whole.