Any questions about the virility of the collector car market were quickly vanquished during this August’s Monterey classic car week, when the five independent car auctions that took place from Aug. 15-19, recorded a total of $226 million dollars in combined sales—that’s over a quarter of a billion dollars in classic cars changing hands in essentially one location—an all-time record.
Gooding & Company
Leading this year’s record-breaking field was the two-day Gooding sale at Pebble Beach, which shattered numerous records including that of most valuable auction, with total sales of a staggering $113 million. Additionally, Gooding recorded the two highest individual sale prices of the week when it sold the von Krieger Special Roadster, a 1936 Mercedes-Benz 540 K for $11,770,000, (a double world record for a Mercedes-Benz and a pre-war car at auction), and a 1960 Ferrari 250 GT LWB California Spider for $11,275,000, realizing a world record for a Ferrari California Spider. In all, Gooding sold 24 vehicles for more than a million dollars each.
RM Auctions
While unable to eclipse Gooding’s record-setting run, RM also posted its most successful Monterey sale ever with more than $95 million brought in over its two-day sale. RM was able to sell 20 cars for over $1 million and five vehicles for over $5 million. Top sale of the RM event was a Ford GT40 lightweight selling for $11 million (see Vintage Racecar for more details), while the highest roadcar sale was $8.5 million for a 1962 Ferrari 250 GT SWB California Spider.
Mecum Auctions
While only in its fourth year on the Monterey Peninsula, Mecum Auctions also enjoyed its best sale there ever, with total sales exceeding $34 million. Mecum’s three-day sale saw a staggering 364 cars find new homes, with the highest sales value going to a 1972 Porsche 917/10 Can-Am racecar at $5.5 million (see Vintage Racecar for more details), while the top roadcar sale went to a 1908 Simplex Speedcar, believed to be the oldest Simplex in existence, which sold for $1.9 million.
Russo & Steele
With its 12th Monterey auction, Russo & Steele moved to a much larger venue on Fisherman’s Wharf. The three-day auction produced total sales of over $11 million, with top lot of the sale being a 1965 Ferrari 400 Coupe Superamerica that sold for $1.1 million, while a 1965 Shelby 289 Cobra fetched $781,000. While a number of Ferraris sold well at Russo, Ferrari aficionados were taken by the auctioning off of Enzo Ferrari’s personal Cavallino Rampante sculpture, which sat in a place of prominence in the Commendatore’s office, for a remarkable $86,250.
Photo: RM Auctions
Bonhams
The oldest sale on the Monterey Peninsula, Bonhams held its 15th auction on the grounds of the Quail Lodge, though this year in a more spacious facility slightly removed from the nearby Quail Motorsports Gathering. Bonhams two-day sale fetched a total of $13 million with the highest valued vehicles being racecars. Top lot of the sale was a McLaren F1 GTR FIA, which was reported sold after the sale for an estimated $3.85 million, while a 1966 Ford GT40 was the top lot hammered at $2.2m.
