The RM Sotheby’s Monterey 2019 auction was held August 15-17 at the Monterey Conference Center in California, resulting in $107,470,310 in total sales and a 74 percent sell through rate. RM’s three-day auction total represents the highest grossing auction of Monterey Car Week.<\/p>\n
The highlight of the 2019 RM Sotheby’s Monterey event — and the most valuable car sold during Monterey Car Week — was the 1994 McLaren F1 ‘LM-Specification’ which sold for a final $19,805,000, setting a new auction record for the marque on Friday evening. Four bidders vied for nearly five minutes before the car sold to a private collector based in the United States.<\/p>\n
The world\u2019s fastest naturally aspirated production car, serial number 018 is one of two McLaren F1 examples upgraded to Le Mans specification by the factory, equipped with the GTR engine and an extra high-downforce package that went above and beyond the coachwork effects of the original five LM cars. Used on a handful of tours and rallies, the McLaren was offered in Monterey showing 21,500 km.<\/p>\n
Another record-setting moment came when “the most famous car in the world,” a 1965 James Bond Aston Martin DB5, sold for a final $6,385,000 (est. $4m – $6m) during \u2018An Evening with Aston Martin,\u2019 hosted in partnership with Aston Martin Works and Aston Martin Lagonda on a Thursday evening sale. The DB5, chassis number DB5\/2008\/R, is one of three surviving James Bond 007 DB5 examples outfitted with the MI6 Q Branch specified gadgetry from new as seen in Goldfinger<\/em> and as used in the promotion of Thunderball<\/em>. Recently fully restored by Roos Engineering in Switzerland, with all gadgetry fully functioning as Q intended, the DB5 was the subject of a bidding competition between interested parties in the room and on the phone, eventually selling to an bidder present in the sale room to become the most valuable DB5 sold at auction.<\/p>\n On Saturday night, it was Ferraris that took top billing. Highlights were led by the late-production, matching numbers, Classiche-certified 1962 Ferrari 250 GT SWB Berlinetta, which was offered without reserve and achieved a final $8,145,000 (est. $8m – $10m. Bidding on the restored Ferrari was spirited throughout the lot as it opened at $5,000,000 and proceeded to reach its hammer price in a few short minutes with bids originating from the room and on the telephone.<\/p>\n Modern Ferraris were also featured on Saturday night, with the Ming Collection, a group of seven all-red, low-mileage Ferraris, with nearly all lots reaching or exceeding high estimate. The Ming Collection was led by the sale of a 2006 Ferrari FXX in “time capsule” condition at a final $3,525,000 to set a new world record for the model at auction (est. $2.85m – $3.25m). The preserved 1995 Ferrari F50 on offer in Monterey was also sold immediately following the auction for a final $3,000,000.<\/p>\n Kenneth Ahn, President, RM Sotheby\u2019s, commented, \u201cWe were delighted to see an increased number of registered bidders with over 1,400 at this year\u2019s Monterey auction. However, it appears the macroeconomic concerns and headlines in the financial markets earlier in the week were correlated with the observed softening of the collector car market in Monterey this weekend \u2013 including total sales, sell-through rates, and average prices achieved compared to last year across all auction houses. The team at RM Sotheby\u2019s was proud to present an exceptional lineup of cars, and some of the truly rare and desirable examples remained in high demand as evidenced by spirited bidding, often reaching record prices. We remain cautiously optimistic about the strength of the collector car market and plan to work diligently with our global clients to effectively navigate the market as it finds balance.\u201d<\/p>\n Additional highlights at the RM Sotheby’s Monterey 2019 auction included:<\/p>\n