Million-dollar cars were out in force at nearly each auction location in Monterey. SCM Publisher Keith Martin commented “Some thought our $140m in projected sales for Monterey was hopelessly optimistic in the face of a flailing economy. Yet the overall sales of $172m surpassed that prediction by $32m and surpassed last year’s total of $120m by a staggering $52m. This proved that there is still enormous discretionary wealth in the upper echelon of the collector car world. Further, I believe these sales results are evidence that in the face of lackluster stock market and still-falling real estate prices, investors are moving […]
Million-dollar cars were out in force at nearly each auction location in Monterey.
SCM Publisher Keith Martin commented “Some thought our $140m in projected sales for Monterey was hopelessly optimistic in the face of a flailing economy. Yet the overall sales of $172m surpassed that prediction by $32m and surpassed last year’s total of $120m by a staggering $52m. This proved that there is still enormous discretionary wealth in the upper echelon of the collector car world. Further, I believe these sales results are evidence that in the face of lackluster stock market and still-falling real estate prices, investors are moving their money into a segment of the market that is showing appreciation, which is collector cars. My next prediction – hang on to your hats, the roller coaster is just beginning to gather steam.”
While the auction companies are still furiously working around the clock to get deals done, here are the preliminary results we have. These totals and Top 5 cars are subject to change. We’ll have an updated special Monterey edition later this week. (All overall sale totals include buyer’s premiums; the Bonham’s top 5 sales do NOT include premiums).
RM
Total: $67 million
Selling Percentage: 93
Top 5 Sales:
1. 1938 Talbot-Lago T150 Coupe: $4.6m
2. 1954 Ferrari 375 MM Berlinetta: $4.6m
3. 1949 Delahaye Type 175S: $3.3m
4. 1959 Ferrari 250 GT LWB Cal Spyder: $2.4m
5. 1955 Jaguar D-type: $1.9m
This is up approximately $32m from last year’s $35.6m.
Gooding
Total: $65.5 million
Selling Percentage: 80
Top 5 Sales:
1. 1959 Ferrari 250 GT LWB Cal Spider Competizione: $7.3m
2. 1933 Alfa 8C Monza: $6.7m
3. 1961 Ferrari 250 GT SWB SEFAC Hot Rod: $6.1m
4. 1928 Mercedes-Benz S 26/180 Boattail Speedster: $3.7m
5. 1995 McLaren F1: $3.6m
This is up approximately $15m from last year’s $51m.
Bonhams
Total Sales (overall): $18.2m
(Buyer’s premium NOT included in Top 5 sold prices in this report.)
1. 1972-73 Interserie Spyder Porsche 917: $3.6m
2. 1930 Mercedes-Benz 38/250: $2.3m
3. 1967 Porsche 2-Liter 910: $720k
4. 1908 Thomas Flyer: $660k
5. 1937 BMW 328: $600k
Mecum
Total: $15m
Selling Percentage: 45
Top 5 sales:
1. 1967 Ferrari 275 GTB/4: $1.4m
2. 1967 Chevrolet Corvette L88 convertible: $1.1m
3. 1972 Ferrari 365 GTS/4: $1m
4. 1966 Shelby Cobra 427: $700k
5. 1971 Chevrolet Corvette ZR2 convertible: $466k
This is up approximately $1.1m from last year’s $13.9m.
Russo and Steele
Total: $8m
Sellling Percentage: 40
Top 5 Sales:
1. 1971 AMC Javelin Trans Am: $847k
2. 1965 Shelby Cobra CSX2461: $649k
3. 1966 Lamborghini 350GT: $440k
4. 1968 Aston Martin DB6: $330k
5. 2005 Porsche Carrera GT: $291k
This is up approximately $3m from last year’s $4.9m.
