Monterey Car Week: day three auction results

This was the big day, and the last day, and it was spectacular. The obvious highlight was the 250 GTO, but there was plenty more as well...

After three days of sales, the Monterey classic car auction marathon has come to an end. In total, 1376 lots crossed the block at six auction houses, with 841 to date finding a new home – a sell-through rate of 61%.

Three cars achieved over $20million, helping 2018 deliver $367.5million – £40million more than in 2017. The 2018 results remain preliminary, and could exceed this figure with post-sales negotiations still underway.

This changed the outlook quite significantly compared with the previous two days. You can read about those here for day one and here for day two.

More from Monterey Car Week...

The highlight of the week was undoubtedly the world-record price of $48,405,000 achieved for the Series II Ferrari 250 GTO that sold in a packed auditorium on Friday evening at the Monterey Conference Centre.

A world record was also set for an American car, and the highest price paid for any pre-war car, with Gooding & Co selling a spectacular Duesenberg SSJ Roadster for a very strong $22million.

In general, the results indicate a strengthening of the market for the very best, triple AAA-rated automobiles. Discerning collectors with the resources to strengthen their stockpile were competing for a number of cars whose provenance and rarity make them very attractive to the best-curated collections.

Below this, a few shifts in the market appear to be taking place, although the bubble of Monterey is not necessarily representative of the market in general. Modern supercars in general struggled to reach low estimate, and there were fewer $1million models sold (and more not meeting reserve) than in previous years.

As is often the case, but perhaps even more pronounced with this year’s results, cars with known provenance, originality and low mileage achieved a premium to the models market valuations beyond what may have been expected. As ever, quality and known history are worth investing in. Results are courtesy of Hagerty.

Overall preliminary results from all auction companies

Total: $367.5m
Sell-through rate: 61% (841/1376 lots sold)
Average sale price: $436,982

Overall Top 10 Sales from all auctions

  • 1 1962 Ferrari 250 GTO SI Coupé sold for $48,405,000 (RM Sotheby’s)
  • 2 1935 Duesenberg SSJ Roadster sold for $22,000,000 (Gooding & Company)
  • 3 1963 Aston Martin DP215 Competition Prototype sold for $21,455,000 (RM Sotheby’s)
  • 4 1966 Ford GT40 Mk2 Coupe sold for $9,795,000 (RM Sotheby’s)
  • 5 1958 Ferrari 250 GT TdF Coupé sold for $6,600,000 (Gooding & Company)
  • 6 1955 Maserati A6GCS/53 Spider sold for $5,170,000 (Gooding & Company)
  • 7 1955 Ferrari 500 Mondial SII Spider sold for $5,005,000 (Gooding & Company)
  • 8 1957 Porsche 550A Spyder sold for $4,900,000 (RM Sotheby’s)
  • 9 1998 Mercedes-Benz CLK GTR Coupé sold for $4,515,000 (RM Sotheby’s)
  • 10 1956 Maserati A6G/2000 Zagato Berlinetta sold for $4,515,000 (RM Sotheby’s)

2017 Overall Results

Total: $327.6m
Sell-through rate: 59% (757/1277 lots sold)
Average sale price: $432,793

Classic cars for sale now

Results broken down by auction company

RM Sotheby’s

Total: $157.6m
Sell-through rate: 83% (124/150 lots sold)
Average sale price: $1,270,903

Overall Top 10 Sales:

  • 1 1962 Ferrari 250 GTO SI Coupé sold for $48,405,000
  • 2 963 Aston Martin DP215 Competition Prototype sold for $21,455,000
  • 3 1966 Ford GT40 Mk2 Coupe sold for $9,795,000
  • 4 1957 Porsche 550A Spyder sold for $4,900,000
  • 5 1998 Mercedes-Benz CLK GTR Coupé sold for $4,515,000
  • 6 1956 Maserati A6G/2000 Zagato Berlinetta sold for $4,515,000
  • 7 1934 Packard Twelve-Series 1108 Dietrich Convertible Victoria sold for $3,745,000
  • 8 2014 Ferrari LaFerrari Coupé sold for $3,305,000 (charity auction)
  • 9 1971 Lamborghini Miura P400 SV Coupé sold for $2,177,500
  • 10 1963 Mercedes-Benz 300SL Roadster sold for $1,930,000

2017 Results
Total: $132.8m
Sell-through rate: 89% (103/116 lots sold)
Average sale price: $1,289,135

Gooding & Company

Total: $114.7m
Sell-through rate: 82% (120/146 lots sold)
Average sale price: $1995,854

Overall Top 10 Sales:

  • 1 1935 Duesenberg SSJ Roadster sold for $22,000,000
  • 2 1958 Ferrari 250 GT TdF Coupé sold for $6,600,000
  • 3 1955 Maserati A6GCS/53 Spider sold for $5,170,000
  • 4 1955 Ferrari 500 Mondial SII Spider sold for $5,005,000
  • 5 2007 Porsche RS Spyder Race Car sold for $4,510,000
  • 6 1955 Porsche 550 Spyder Roadster sold for $4,455,000
  • 7 1931 Bugatti Type 51 Grand Prix Race Car sold for $3,740,000
  • 8 1959 Porsche 718 RSK Roadster sold for $3,740,000
  • 9 1967 Ferrari 330 GTC Coupé sold for $3,410,000
  • 10 1966 Ferrari Dino 206 S Coupé sold for $3,080,000

2017 Results
Total: $91.5m
Sell-through rate: 81% (107/132 lots sold)
Average sale price: $854,669

Bonhams

Total: 37.7$m
Sell-through rate: 81% (109/135 lots sold)
Average sale price: $345,935

Overall Top 10 Sales:

  • 1 1948 Alfa Romeo 6C 2500 Competizione Coupé sold for $3,525,000
  • 2 1937 Mercedes-Benz 540K Sports Roadster sold for $3,277,500
  • 3 1955 Mercedes-Benz 300SL Gullwing Coupé sold for $1,875,000
  • 4 1960 Ferrari 250 GT Cabriolet SII sold for $1,682,500
  • 5 1928 Bentley 6 1/2 Litre Open Sports Tourer sold for $1,655,000
  • 6 1953 Siata 208S Spider sold for $1,655,000
  • 7 1929 Bentley 4 1/2 Litre Sports Tourer sold for $1,435,000
  • 8 2015 Porsche 918 Spyder Weissach sold for $1,407,500
  • 9 1936 Mercedes-Benz 500K Touring Phaeton sold for $1,215,000
  • 10 1996 Porsche 911 GT2 Coupé sold for $1,105,000

2017 Results
Total: $55.2m
Sell-through rate: 76% (86/109 lots sold)
Average sale price: $641,685

Mecum

Total: $44.7m
Sell-through rate: 52% (360/690 lots sold)
Average sale price: $124,190

Overall Top 10 Sales.

  • 1 1933 Duesenberg Model J Bohman and Schwartz Convertible Victoria sold for $3,850,000
  • 2 2014 Ferrari LaFerrari Coupé sold for $3,190,000
  • 3 2003 Ferrari Enzo Coupé sold for $2,860,000
  • 4 1989 Porsche 962 Coupé sold for $2,200,000
  • 5 1969 Lamborghini Miura P400 S Coupé sold for $1,155,000
  • 6 1929 Duesenberg Model J Murphy Convertible Sedan sold for $1,155,000
  • 7 2012 Dallara DW12 Honda Indy Car sold for $1,127,500
  • 8 2017 Ferrari F12tdf Coupé sold for $1,045,000
  • 9 1936 Auburn 852 Supercharged Speedster sold for $1,017,500
  • 10 1973 Ferrari 365 GTB/4 Daytona Coupé sold for $825,000

2017 Results
Total: $32.1m
Sell-through rate: 46% (296/645 lots sold)
Average sale price: $108,478

Russo and Steele

Total: $7.3m
Sell-through rate: 48% (95/196 lots sold)
Average sale price: $76,548

Overall Top 10 Sales:

  • 1 2017 Ford GT Coupe sold for $1,540,000
  • 2 1984 Lamborghini Countach LP500S Coupé sold for $308,000
  • 3 1972 Ferrari 365 GTC/4 Coupé sold for $305,250
  • 4 1983 Ferrari 512 BBi Coupé sold for $225,500
  • 5 2009 Mercedes-Benz SL65 AMG Black Series Convertible sold for $203,500
  • 6 1989 Porsche 911 Speedster sold for $181,500
  • 7 1932 Pierce-Arrow Model 52 Custom Club Berline Sedan sold for $176,000
  • 8 2012 Mercedes-Benz Sprinter Executive Series Van sold for $154,000
  • 9 2000 BMW Z8 Roadster sold for $154,000
  • 10 2017 Mercedes-Benz G550 Custom Wagon sold for $148,500

2017 Results

Total: $8.5m
Sell-through rate: 56% (114/202 lots sold)
Average Sale Price: $74,911

Worldwide

Total: $5.5m
Sell-through rate: 56% (33/59 lots sold)
Average sale price: $167,267

Overall Top 10 Sales:

  • 1 1931 Duesenberg Model J Derham Tourster sold for $1,320,000
  • 2 1962 Shelby Cobra 260 Roadster sold for $990,000
  • 3 1916 Locomobile Model 68 Cabriolet sold for $473,000
  • 4 1972 Ferrari Dino 246 GTS Spider sold for $341,000
  • 5 1968 Jaguar E-Type SI.5 Roadster sold for $247,500
  • 6 1958 Buick Limited Model 756 Convertible sold for $181,500
  • 7 1929 Packard Deluxe Eight-Series 645 Roadster sold for $176,000
  • 8 1967 Maserati Ghibli Coupé sold for $170,500
  • 9 1969 Chevrolet Camaro Yenko Sport Coupe sold for $165,000
  • 10 1965 Rolls-Royce Silver Cloud III LWB Sedan sold for $145,750

2017 Results
Overall total: $7.6m
Sell-through rate: 70% (51/73 lots sold)
Average sale price: $148,226

Classic Cars for Sale