{"id":490339,"date":"2008-11-01T03:11:11","date_gmt":"2008-11-01T10:11:11","guid":{"rendered":"https:\/\/sportscardigest.com\/\/?p=49885"},"modified":"2024-12-06T03:30:24","modified_gmt":"2024-12-06T03:30:24","slug":"staggering-results-monterey-auctions","status":"publish","type":"post","link":"https:\/\/www.supercars.net\/blog\/staggering-results-monterey-auctions\/","title":{"rendered":"Monterey Car Week Auctions (2008) – Staggering Results in Monterey"},"content":{"rendered":"

With the financial world still reeling from the ramifications of the subprime housing implosion, the four major auctions held in conjunction with this year\u2019s Monterey Historics week were eagerly anticipated by insiders as a bellwether for the state of the classic car market. Yet, when the final gavel fell on Sunday night, there was little doubt that as far as the classic car world is concerned, money seems to be no object, with over $137 million changing hands and numerous world record prices being garnered.<\/p>\n

Bonhams sold the 1960 Jaguar E2A \u201cMissing Link\u201d for $5,067,500.<\/p>\n

First surprise of the week was the Bonhams\u2019 sale at Quail Lodge on Friday, August 15. After suffering through some challenging Monterey sales over the last few years, this year\u2019s Quail sale was a return to form with a solid $21.7 million of sales, much of which coming from historic racecars. Of particular interest was the sale of the 1960 Jaguar E2A \u201cMissing Link\u201d prototype for a record $5,067,500 and the 1939 ex-Ecurie Nice Talbot Lago T150 CSS, in original, unrestored condition for a record $4,845,000.<\/p>\n

Next up was Russo & Steele\u2019s sale, which switched formats this year from an \u201call no reserve,\u201d to \u201call reserve\u201d sale. This two-night sale saw 50 percent of the 150 cars sell for a total of $9.1 million. One of the more noteworthy lots here was a stunning, world record $302,500 obtained for an original, matching numbers, 1973 Porsche Carrera RS coupe. Doesn\u2019t seem that long ago that one could be had for $35,000!<\/p>\n

\"RM<\/a>
RM sold a 1961 Ferrari 250 GT\u2008SWB for $4,500,000.<\/figcaption><\/figure>\n

Also running Friday and Saturday nights was RM Auctions\u2019 famed \u201cSports & Classics of Monterey\u201d sale, which brought in an amazing $42 million from 170 cars, with 11 cars fetching over $1 million. High water mark for this sale was a 1961 Ferrari 250 GT SWB that notched up a record-setting $4.5 million. Among other interesting racecars for sale was the 1981 Porsche 935 \u201cMoby Dick\u201d for $550,000.<\/p>\n

\"RM<\/a>
RM sold a 1961 Ferrari 250 GT\u2008SWB for $4,500,000.<\/figcaption><\/figure>\n

Despite all these remarkable sales and record-setting prices, the revelation of the week was the Gooding & Company sale, which this year expanded to a two-day format. With 140 lots crossing the auction block at Pebble Beach\u2019s Equestrian Center, Gooding\u2019s sale fetched a mind-blowing $64.2 million\u2014nearly as much as the other three auctions combined! Star lot of the Gooding sale was a 1937 Bugatti Type 57SC Atalante Coupe, which fetched a North American record $7.92 million. Other notables were a 1938 Alfa Romeo 6C 2300B Mille Miglia \u201cSleeping Beauty\u201d for $2.585 million, a 1950 Ferrari 166 MM Berlinetta Le Mans for $2.2 million, and a 1962 Corvette Gulf Oil team car for $1.485 million.<\/p>\n

\"Russo<\/a>
Russo &\u2008Steele sold a matching numbers 1973 Porsche RS for $302,500.<\/figcaption><\/figure>\n

While the world\u2019s financial markets may be struggling, the constellation of Monterey auctions this year seem to indicate that money is still plentiful for high-quality cars with solid provenance.<\/p>\n

By Casey Annis<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

With the financial world still reeling from the ramifications of the subprime housing implosion, the four major auctions held in conjunction with this year\u2019s Monterey Historics week were eagerly anticipated by insiders as a bellwether for the state of the classic car market. Yet, when the final gavel fell on Sunday night, there was little doubt that as far as the classic car world is concerned, money seems to be no object, with over $137 million changing hands and numerous […]<\/p>\n","protected":false},"author":54,"featured_media":565285,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10112,11577],"tags":[7366,17513],"class_list":["post-490339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-auctions","category-auction-action","tag-auctions","tag-auctions-monterey-car-week"],"yoast_head":"\nMonterey Car Week Auctions (2008) - Staggering Results in Monterey<\/title>\n<meta name=\"description\" content=\"Staggering Results for Monterey Auctions\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.supercars.net\/blog\/staggering-results-monterey-auctions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monterey Car Week Auctions (2008) - 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