The Pebble Beach Concours d’Elegance weekend could be described as a billionaires traffic jam. But, hey, we're not complaining — where else do you see so many fabulous cars in a confined space?

Auctions play a major role in the weekend. This year gavels laid down at $260.3 million in sales of classic and exotic cars. Among them, a fantastic 1968 Ford GT40 Gulf/Mirage Coupe that sold for $11million. That is the highest price ever paid for a Ford. The car was produced as one of the company's few supercars made directly after Henry Ford II's failed takeover of Ferrari in the 1960s. [The Detroit Bureau]