Two years ago, the art market had cratered, with both Sotheby’s and Christie’s suffering huge year-over-year declines in their annual New York sales.
But on February 3, the market spoke with an authoritative voice, as “Walking Man I,” a life-size bronze sculpture by Alberto Giacometti, was sold by Sotheby’s for $104.3m, a world record for the most expensive work of art ever sold at auction.
Sotheby’s total for the evening was $235.6m.
To put that in perspective, the Read More
At every car club meeting, gray-haired elders debate the future of car collecting. They wonder if the current generation will wean itself from texting and playing World of Warcraft long enough to learn to use a Uni-Syn to balance their SU carburetors, or feeler gauges to measure valve clearances.
They also wonder where are the Austin-Healey 3000s, Jaguar XK 120s, and Alfa Romeo Giuliettas of the current era. Each was a distinctive sports car with its own look Read More
With this February issue, we are now well into the 22nd year of Sports Car Market.
Twenty-two is my lucky number. My birthday falls on the 22nd, and my race cars have always been numbered 22. When we first started SCM in our basement, as the four-page mimeographed Alfa Romeo Market Letter, we never imagined that over two decades later we’d still be pumping out auction reports and market commentary about cranky old cars.
While our page count Read More
In the collector car world, January is Arizona time. Last year, in an economic atmosphere that seemed considerably more bleak, 1,726 cars went to new owners, and $133m changed hands.
This year, I predict we’ll see a slight uptick in sales, perhaps 10%. If the surprising strength of the recent Sotheby’s New York art sale is any indication ($182m in sales against $163m in high estimates), collector confidence is on the rebound.
Credit is still extremely difficult Read More
For the past three months, I’ve managed to use the SCM 1964 Volvo 544 as my primary family car, and as my daily driver. I’ve put just over 2,000 miles on it. In September, my wife Wendie and I and our two-year-old Bradley piled into it for the 400-mile round-trip journey to Sunriver, Oregon, where I was the emcee of the 13th annual Festival of Cars.
It isn’t a Ferrari 250 GTE, Porsche 356, Maserati 3500 GT, Read More
Every week, we send out the “SCM Insider” email, chock full of breaking news, auction results, select videos, and a reader poll to more than 30,000 rabid collectors like you. Our question in the June 30 newsletter asked readers to choose one of four outcomes for the 2009 Monterey weekend.
Forty-four percent of you thought things would be grim, and that $100m, the amount realized in 2006, was all we would see. Twenty-six percent thought sales would be stable at Read More
Over the next few months, nearly 750,000 clunkers are going to be scrapped. Not dismantled, mind you, but smashed and melted into their base, formative materials.
Whether or not this is good government policy we’ll leave to our friends at The Economist. And others can debate the relative environmental effects; for instance, some claim the energy expended to build a new car, no matter how mileage-frugal it is, far outweighs any potential carbon footprint savings realized when compared Read More
Each year, we call this our “Pebble Beach” issue. We wrap it up about one month before the Monterey week, and through the coordination of our printer and the trucking companies, copies magically appear at nearly every Monterey venue, from the Lodge at Pebble Beach to Concorso Italiano.
By its nature, SCM is both reflective and predictive. The primary mission of the magazine is to interpret the current market, which we do through our Profiles and Auction Read More
July is an oddly quiet month in the collector car world. While there are auctions going on, vintage car shamans are still picking apart the results of the RM Maranello ($28.4m), Bonhams Monaco ($6.2m), and Mecum Indy ($33.6m) sales.
And through those results, they are attempting to cast their stones and predict what will happen in Monterey. Questions are many. Is no reserve the way to go, as the collective buying power of the crowd will be great? Read More
It’s been nearly ten years since I last drove in the California Mille. Dodge was the primary sponsor then, and I enjoyed the Northern California countryside from behind the wheel of a Viper.
After growing up driving Alfas, with their puny 4-cylinder, 80-ci engines, mashing the throttle on a 450-horsepower, 488-ci V10 rocket sled was like lighting the fuse on a Saturn V. With a small-displacement foreign car, passing on a two-lane road takes cunning and guile. Can you really Read More