Another eight-figure sale at Monterey, this time at RM; Bonhams auction totals more than $100 million

Another eight-figure sale at Monterey, this time at RM; Bonhams auction totals more than $100 million

The classic car auctions taking place on the Monterey Peninsula enjoyed another eight-figure sale Friday with more than another two dozen seven-figure transactions.

Ex-Harrah Ferrari hits eight figures at RM auction | Darin Schnabel photo for RM

Ex-Harrah Ferrari hits eight figures at RM auction | Darin Schnabel photo for RM

The classic car auctions taking place on the Monterey Peninsula enjoyed another eight-figure sale Friday with more than another two dozen seven-figure transactions as Bonhams wrapped up its auction, Mecum Auctions and Russo and Steele continued, and RM opened bidding at its venue. Bidding also is underway at the Rick Cole Auction, where the bidding, primarily taking place via smart-phone technology, continues through late Sunday evening.

As witnessed by staff from Hagerty Insurance, the top sale Friday occurred at RM where 15 vehicles sold for $1 million or more, led by a 1964 Ferrari 250 LM coupe that sold for $11,550,000. (All sales figures include buyer’s fees.)

The 250 LM (chassis 6045) was the 19th of 32 such cars built and was originally owned by William Harrah, the casino owner in Reno, Nevada. The car recently was restored to factory specifications and won The Ferrari Classiche Cup at the Cavallino Classic in Palm Beach, Florida.

The 250 LM’s sales figure is the second highest so far this week at Monterey, where a 1962 Ferrari 250 GTO sold Thursday at Bonhams for more than $38 million, a world auction sales record for a collector car.

Bonhams wrapped up its Monterey auction Friday with $42.1 million in sales for the day, led by a 1966 Ferrari 275 GTB coupe that brought $3.85 million. Bonham’s two-day sale at the Quail Lodge generated sales of $106.2 million, with an average price per vehicle of $1.03 million. A year ago, the Bonhams sale on the Monterey Peninsula did $31.1 million with an average price of nearly $404,000.

RM’s opening day this year generated $56.2 million, $4.1 million more than the same day a year ago. Average price at RM Friday was nearly $921,000 compared to $869,500 a year ago.

In addition to the Ferrari 250 LM, a 1965 Ford GT40 prototype roadster sold Friday at RM for $6.93 million, a 1955 Mercedes-Benz 300SL gullwing coupe brought $2.53 million and the 2013 Bugatti Veyron 16.4 Grand Sport votesse “Le Ciel Californien” went for $2.42 million.

Russo and Steele did $3 million in sales Friday, nearly half of it spent on a 1957 Mercedes-Benz 300SL roadster that sold for $1.21 million. Only 40 percent of the lots offered Friday at Russo and Steele were sold, for an average price of $87,702.

Mecum’s top sale Friday was $486,000 for a 1969 Chevrolet Corvette L88 coupe. For the day, Mecum’s sales were $7.2 million, with a 47-percent sell through. The average sales price was $65,848. Through Friday sales at year ago at Monterey, Mecum’s average was $44,837 with a 53-percent sell through.

Overall through Friday, sales at the Monterey auctions are $176.3 million, compared to $95.9 million through Friday last year. One major reason for the change was Bonhams’ sale Thursday of 10 Ferraris from an Italian museum, including the 250 GTO.

Overall through Friday from all auction companies:
Cumulative Total: $176.3M | 434/787 lots sold: 55%
Average Sale Price:  $405,639 | Median Sale Price: $61,560

Overall Top 10 Sales from all auctions through Friday:

1.       1962 Ferrari 250 GTO Coupe sold for $38,115,000 (Bonhams)
1.       1964 Ferrari 250 LM Coupe sold for $11,550,000 (RM Auctions)
2.       1953 Ferrari 250 MM Coupe sold for $7,260,000 (Bonhams)
3.       1965 Ford GT40 Prototype Roadster sold for $6,930,000 (RM Auctions)
4.       1962 Ferrari 250 GT SWB Speciale Aerodinamica Coupe sold for $6,875,000 (Bonhams)
5.       1958 Ferrari 250 SI Cabriolet (closed headlight) sold for $6,820,000 (Bonhams)
6.       1978 Ferrari 312 T3 Formula 1 sold for $2,310,000 (Bonhams)
7.       1955 Mercedes-Benz 300SL Gullwing Coupe sold for $2,530,000 (RM Auctions)
8.       2013 Bugatti Veyron 16.4 Grand Sport Vitesse ‘Le Ciel Californien’ sold for $2,420,000 (RM Auctions)
9.       1964 Aston Martin DB4 GT Coupe sold for $2,090,000 (RM Auctions)
10.   1964 Ferrari 250 GT Lusso Coupe sold for $1,980,000 (RM Auctions)

2013 Cumulative Results Through Friday:
Cumulative Total: $95.9M | 416/726 lots sold: 57%
Average Sale Price: $230,422 | Median Sale Price: $47,300

Bonhams
Friday total: $41.2M | 92/107 lots sold: 86%
Average Sale Price: $433,914 | Median Sale Price: $166,100

Top 10 Sales Friday Sales:
1.       1966 Ferrari 275 GTB Coupe sold for $3,850,000
2.       1973 Ferrari 365 GTS/4 Daytona Spyder sold for $2,640,000
3.       1993 Ferrari F40 LM Coupe sold for $2,200,000
4.       1963 Mercedes-Benz 300SL Roadster sold for $1,897,500
5.       1948 Talbot-Lago Record T26 Grand Sport Coupe sold for $1,485,000
6.       1991 Ferrari F40 Coupe sold for $1,430,000
7.       1954 Mercedes-Benz 300SL Gullwing Coupe sold for $1,347,000
8.       1957 Mercedes-Benz 300SL Roadster sold for $1,210,000
9.       1960 Ferrari 250 SII Cabriolet sold for $1,193,000
10.   1955 Lancia Aurelia B24 Spider America sold for $1,100,000

Cumulative Total: $106.2M | 103/117 lots sold: 87% sell-through rate
Average Sale Price: $1,030,806 | Median Sale Price: $192,500

Overall Top 10 Sales:
1.       1962 Ferrari 250 GTO Coupe sold for $38,115,000
2.       1953 Ferrari 250 MM Coupe sold for $7,260,000
3.       1962 Ferrari 250 GT SWB Speciale Aerodinamica Coupe sold for $6,875,000
4.       1958 Ferrari 250 SI Cabriolet (closed headlight) sold for $6,820,000
5.       1966 Ferrari 275 GTB Coupe sold for $3,850,000
6.       1973 Ferrari 365 GTS/4 Daytona Spyder sold for $2,640,000
7.       1978 Ferrari 312 T3 Formula 1 sold for $2,310,000
8.       1993 Ferrari F40 LM Coupe sold for $2,200,000
9.       1963 Mercedes-Benz 300SL Roadster sold for $1,897,500
10.   1948 Talbot-Lago Record T26 Grand Sport Coupe sold for $1,485,000

2013 Cumulative Results
Total: $31.1M | 77/89 lots sold: 87%
Average Sale Price: $403,703 | Median Sale Price: $148,500

Mecum
Friday total: $7.2M | 110/236 lots sold: 47%
Average Sale Price: $65,848 | Median Sale Price: $55,080

Top 10 Friday Sales:
1.       1969 Chevrolet Corvette L88 Coupe Sold for $486,000
2.       2005 Ford GT Coupe sold for $302,400
3.       1938 Mercedes-Benz 320B Cabriolet sold for $167,400
4.       1963 Chevrolet Corvette 327/360 Coupe sold for $162,000
5.       1970 Chevrolet Camaro RS Custom Coupe sold for $162,000
6.       1967 Shelby GT500 Fastback sold for $159,300
7.       1912 Mitchell 34 HP Roadster sold for $153,900
8.       1956 DeSoto Fireflite Convertible sold for $151,200
9.       1963 Mercedes-Benz 190SL Roadster sold for $142,560
10.   1957 Chevrolet Corvette 283/283 Convertible sold for $124,200

Cumulative Total through Friday
Total: $9.0M | 223/475 lots sold: 47% sell-through rate
Average Sale Price: $40,620 | Median Sale Price: $29,160

Overall Top 10 Sales through Friday:
1.       1969 Chevrolet Corvette L88 Coupe Sold for $486,000
2.       2005 Ford GT Coupe sold for $302,400
3.       1938 Mercedes-Benz 320B Cabriolet sold for $167,400
4.       1963 Chevrolet Corvette 327/360 Coupe sold for $162,000
5.       1970 Chevrolet Camaro RS Custom Coupe sold for $162,000
6.       1967 Shelby GT500 Fastback sold for $159,300
7.       1912 Mitchel 34 HP Roadster sold for $153,900
8.       1956 DeSoto Fireflite Convertible sold for $151,200
9.       1963 Mercedes-Benz 190SL Roadster sold for $142,560
10.   1957 Chevrolet Corvette 283/283 Convertible sold for $124,200

2013 Results through Friday
Total: $10.5M | 234/444 lots sold: 53% sell-through rate
Average Sale Price: $44,837 | Median Sale Price: $35,310

RM
Friday total: $56.2M | 61/67 lots sold: 91%
Average Sale Price: $920,952 | Median Sale Price: $412,500

Top 10 Friday Sales:
1.       1964 Ferrari 250 LM Coupe sold for $11,550,000
2.       1965 Ford GT40 Prototype Roadster sold for $6,930,000
3.       1955 Mercedes-Benz 300SL Gullwing Coupe sold for $2,530,000
4.       2013 Bugatti Veyron 16.4 Grand Sport Vitesse ‘Le Ciel Californien’ sold for $2,420,000
5.       1964 Aston Martin DB4 GT Coupe sold for $2,090,000
6.       1964 Ferrari 250 GT Lusso Coupe sold for $1,980,000
7.       1966 Shelby Cobra 427 Roadster sold for $1,705,000
8.       1986 March 86C Indy Car Sold for $1,705,000
9.       1937 Bentley 4½-Litre Open Two-Seater by Carlton sold for $1,595,000
10.   1948 Tucker 48 Sedan sold for $1,567,500

2013 Results through Friday
Total: $52.1M | 53/60 lots sold: 88%
Average Sale Price: $869,504 | Median Sale Price: $330,000

Russo and Steele
Friday total: $3.0M | 25/69 lots sold: 36%
Average Sale Price: $120,538 | Median Sale Price: $52,800

Top 10 Friday Sales:
1.       1957 Mercedes-Benz 300SL Roadster sold for $1,210,000
2.       1969 Ford Mustang Boss 429 Sportsroof Coupe sold for $401,500
3.       2013 Mercedes-Benz SLS GT Roadster sold for $192,500
4.       1964 Jaguar E-Type SI 3.8L Roadster sold for $107,800
5.       1936 BMW 319 Weinberger Cabriolet sold for $92,400
6.       1969 Shelby GT500 Sportsroof Coupe sold for $85,800
7.       1961 Lotus 20/22 20J919 Formula Car sold for $79,200
8.       1948 Ford Woody Wagon sold for $77,000
9.       1999 Shelby Series 1 Convertible sold for $72,600
10.   1941 Ford F100 Pickup sold for $66,000

Cumulative Total through Friday: $4.2M | 48/121 lots sold: 40% sell-through rate
Average Sale Price: $87,702 | Median Sale Price: $52,525

Overall Top 10 Sales through Friday:
1.       1957 Mercedes-Benz 300SL Roadster sold for $1,210,000
2.       1969 Ford Mustang Boss 429 Sportsroof Coupe sold for $401,500
3.       2013 Mercedes-Benz SLS GT Roadster sold for $192,500
4.       1966 Sunbeam Tiger Convertible sold for $149,600
5.       1959 Mercedes-Benz 190SL Roadster sold for $125,400
6.       1964 Jaguar E-Type SI 3.8L Roadster sold for $107,800
7.       2008 Bentley GTC Convertible sold for $106,700
8.       2008 Audi R8 Coupe sold for $95,700
9.       1936 BMW 319 Weinberger Cabriolet sold for $92,400
10.   1969 Shelby GT500 Sportsroof Coupe sold for $85,800

2013 Total through Friday: $2.1M | 52/133 lots sold: 39% sell-through rate
Average Sale Price: $40,549 | Median Sale Price: $36,300

All figures include buyer’s premium.

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