Secret Lives of the Super Rich

$1 million Ferrari owned by 'Poor Little Rich Girl'

Some of the most expensive cars on the planet are sold at auctions, and the show that kicks off the season for well-heeled collectors is in Amelia Island. This small beach community off north Florida is home to fewer than 12,000 people, but on one weekend in March it can make the Hamptons feel cheap.

Several cars with famous histories crossed the auction blocks at Amelia Island this year, but one of our favorites is a lipstick red 1969 Ferrari 365 GTC. This rare supercar was custom made for Woolworth heiress Barbara Hutton, who was known as the "Poor Little Rich Girl" and was once married to Cary Grant.

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This Ferrari was delivered to Hutton's home in Morocco and still has the original Moroccan license plates. It sold for more than $1 million at last March's auction.

And that's not even the most expensive car sold at the auction. One millionaire motorhead spent $4.5 million on a 1935 Duesenberg, Model SJ Walker at RM Auctions.

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When the dust settled from the car buying frenzy, collectors spent more than $26.8 million at the RM auction and more than $28 million at the Gooding & Company auction, bringing this year's total sales to nearly $55 million for the weekend.

If you want in on next year's auction action, better book now. The Ritz Carlton and every other hotel in town fills up a year in advance for the event.

—By CNBC's Jessi Joseph.

Watch super rich car collectors spend millions on classic cars in an all new episode of "Secret Lives of the Super Rich," Wednesday, 10/09 at 9 p.m. ET/PT. You can't afford to miss it.