Monterey Recap: Preliminary Sales Total $392m

Monterey Car Week is over, and the last gavel has dropped, but auction companies continue to bring together buyers and sellers behind the scenes. Here are the preliminary numbers that have been confirmed so far:

RM Sotheby’s reported Monterey sales exceeding $172.7m — an increase of 20% over last year’s Monterey totals, and the highest-grossing collector car auction of all time. A 1964 Ferrari 250 LM (pictured) was the most expensive car of Monterey Car Week at $17.6m.

Preliminary sales at Gooding & Company‘s Pebble Beach auction totaled $128m, up 21% from last year. Gooding sold 115 of 129 cars and achieved a sales rate of 89%. The top sale was a 1961 Ferrari 250 GT LWB California Spyder, sold at $16.8m.

1959 Ferrari 250 GT Competizione Alloy coupe sold for $8.5m at Bonhams Carmel, earning high-sale honors. Preliminary sales at Bonhams totaled $46.7m, down 57%. More than 100 cars crossed the block, and the final sales rate was 90%. View all the sold cars here.

At Mecum Monterey, top honors went to a 1969 Lamborghini Miura P400 S at $2.3m, and combined totals came to $45m, up 30%. View the Mecum results here.

Significant sales at Russo and Steele Monterey included a 2005 Porsche Carrera GT at $781k. Russo and Steele, Rick Cole Auctions and JR Auctions continue to finalize post-block sales and have not released official results.

The numbers so far total $392m. That figure will grow in the coming days as auction houses finalize their results. Last year the combined total for all Monterey sales was $464m.

Watch this space for updates. The next issue of Sports Car Market will feature comprehensive in-depth coverage of all the Monterey Car Week auctions and events. Click here to subscribe, and you’ll get the magazine delivered to your mailbox.

Tony Piff

SCM Auctions Editor and Photographer

Tony has long trumpeted the virtues of collecting Japanese cars. His daily driver is a 1970 Toyota Hilux — the one with the turn signals on top of the fenders. His popular “Rising Sun” column keeps a pulse on the J-tin market.

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