Monterey 2008 in Review

$7.9m Bugatti Type 57SC Atalante at Gooding

Forget the high price of gasoline and the collapsed housing market. When it comes to collector cars, the big dogs and the big wallets were out in force at Monterey.

With detailed results in from the three largest auction companies, Bonhams & Butterfields, RM Auctions, and Gooding & Company, total sales from these three are at $129.3m, up from last year's $116.2m. (SCM is waiting for detailed final results from Russo and Steele and Kruse.)

In chronological order, here’s how the weekend went. At Quail Lodge in Carmel Valley, on August 15, Bonhams & Butterfields sold 44 of 77 cars for a $21,004,800 total. High sale was the 1960 Jaguar E2A Prototype E-type, which made $4,957,000, while the average price per car was $477,382. Five cars broke the million-dollar mark.

Last year, B&B sold 67 of 96 cars for an $8,109,445 total, with a high sale of $403,000 for a 1907 Packard Model 30 and an average price of $121,036. Full 2008 results for B&B can be found here.

At the Portola Plaza in Monterey, on August 15-16, RM Auctions sold 147 of 172 cars for a $44,093,450 total. High sale was a 1961 Ferrari 250 GT SWB Berlinetta at $4,510,000, while the average price per car was $299,955. A dozen cars sold for over a million dollars.

In 2007, RM sold 178 of 192 cars for a $46,754,350 total, with a high sale of $4,950,000 for a 1959 Ferrari 250 GT LWB Cal Spyder, an average price of $262,665, and nine million-dollar cars. Full 2008 results for RM can be found here.

At the Pebble Beach Equestrian Center, on August 16-17, Gooding & Company sold 112 of 140 cars for a $64,228,300 total. High sale was a 1937 Bugatti Type 57SC Atalante Coupe, which made $7,920,000, and the average price per car was $573,467. Twenty cars sold for over a million dollars.

Last year, Gooding sold 122 of 134 cars for a $61,350,250 total, with a high sale of $4,510,000 for a 1931 Bentley 4 1/2 roadster, an average price of $502,871, and 21 million-dollar cars. Full 2008 results for Gooding can be found here.

Need faster results? Learn more about SCM Digital Platinum for the fastest, most complete auction reports anywhere.