Monterey Car Week Auctions Total $367.5 Million — So Far

A 1962 Ferrari 250 GTO sold for a stunning $48,405,000 — yes that is $48.4 MILLION — at RM Sotheby’s Monterey Auction.

The sale of the GTO — the world record for a car sold at auction — helped RM Sotheby’s to a record $158 million total for their August 24-25 auction in downtown Monterey.

That sale also turbocharged total sales at the 2018 Monterey Car Week to $367.5 million, which is the third-highest total ever. Total sales were $463 million in 2014 and $397 million in 2015.

The auction total for 2017 was $330 million.

RM Sotheby’s sold 83 percent of the cars offered.

“The appearance of any one of the Ferrari 250 GTO, Aston Martin DP215, Ford GT40, or McLaren F1 and Ferrari 275 P on the Private Sales stand would be a major event, but to have them all together at Monterey this weekend was nothing short of historic,” said Kenneth Ahn, President, RM Sotheby’s, following the auction. “We are deeply appreciative of our clients who have entrusted RM Sotheby’s to offer some of the most significant motor cars to ever come to market, and equally grateful to our clients, enthusiasts, and media who traveled from all over the world to attend our sale. There was an unprecedented value of cars offered on the Monterey Peninsula this year, and it was very encouraging to see the level of strong demand across a broad range of great cars – a sign of strength that is very positive for our clients as well as the larger collector automobile market.”

For a complete list of RM Sotheby’s Monterey results, click here.

 

Gooding & Company sold the rare 1935 Duesenberg SSJ Roadster from the Collier Collection for $22 million,  which is a new record for a Pre-War car sold at auction. Gooding racked up total sales of $116,502,500 during their August 24-25 sale at Pebble Beach. During this auction, 25 cars sold for more than $1 million. More details available here.

 

Bonhams’ Quail Lodge Sale on August 24 totaled $37.7 million, and a 1948 Alfa Romeo 6C 2500 Competizione Coupe was high sale at $3,525,000. For total results, click here.

 

Mecum’s August 23-25 Monterey Auction hit total sales of $45.7 million, with a 1933 Duesenberg Model J Bohman and Schwartz Convertible Victoria the high sale at $3,850,000. For more information, click here.

 

Russo and Steele sold 95 of 196 lots for a $7.3 million total at their Monterey Waterfront Auction. A 2017 Ford GT Coupe was high sale at $1,540,000. More details available here.

 

Worldwide Auctioneers sold 33 of 59 lots for a total of $5.5 million at their August 23 Pacific Grove sale. High sale was a 1931 Duesenberg Model J Derham Tourster at $1,320,000. For more information, click here.

 

It always takes a few days to settle post-block sales, so the totals for Monterey 2018 may change a bit. We’ll keep you posted on any new developments, and be sure to check out our All-Monterey November issue of Sports Car Market!