High-dollar sizzle continues at Monterey collector car auctions

High-dollar sizzle continues at Monterey collector car auctions

The top end of the collector car marketplace continued to sizzle Saturday at the auctions taking place on the Monterey Peninsula, where Gooding & Company posted nearly $70 million in sales.

Tour de France Ferrari sells for $13.2 million at RM Sotheby's | Larry Edsall photos

Tour de France Ferrari sells for $13.2 million at RM Sotheby’s | Larry Edsall photos

The top end of the collector car marketplace continued to sizzle Saturday at the auctions taking place on the Monterey Peninsula, where Gooding & Company posted nearly $70 million in sales on the opening day of its auction and where million-dollar bids were commonplace not only at Gooding and RM Sotheby’s but at Mecum Auctions as well.

According to figures provided by Hagerty, the insurance and classic car value-tracking company that monitors all Monterey auctions, sales totals for the six auctions taking place during Monterey Classic Car Week totaled $338.4 million through Saturday. That figure trails the same-date number from 2014, but then there was a Ferrari GTO that was up for bidding a year ago and that car by itself accounted for more than $38 million of the 2014 auction total.

With Sunday sales yet to come, six cars already have sold for eight figures at the auctions this year.

Giugiaro-designed, owned by Nuncio Bertone, shark-nosed Ferrari brings $16.5 million at Gooding

Giugiaro-designed, personally owned by Nuncio Bertone, this one-of-a-kind shark-nosed Ferrari brings $16.5 million at Gooding

Gooding & Company launched its sale Saturday with a short-wheelbase 1962 Ferrari 250 GT Speciale coupe selling for $16.5 million — second highest of the week on the peninsula — and with a 1982 Porsche 956 coupe bringing $10.12 million (figures include buyer’s premium). Gooding sold 63 of 69 lots, a very strong 91 percent sell-through rate, and enjoyed an average sale of $1.1 million for those 63 cars going to new owners.

RM Sotheby’s concluded its three-day auction Saturday night with total sales of more than $172 million, $45.6 of it coming Saturday when 50 of 60 sold at an 83 percent rate and for an average of $889,653.

The top sale Saturday at RM Sotheby’s was $13.2 million paid for a 1956 Ferrari 250 GT Tour de France coupe.

Mecum Auctions had $25.5 million in sales Saturday with more than half of the 171 lots selling at an average price of more than $283,000. Mecum also posted seven million-dollar sales Saturday, led by a 1969 Lamborghini Miura P400 S coupe that brought $2.53 million and a 1976 Porsche 911 Carrera Turbo coupe that went for $2.145 million.

Other million-dollar cars Saturday at Mecum were a 2005 Maserati MC12, a 1989 Ferrari F40, a 1963 Shelby Cobra, a 2005 Porsche Carrera GT and a 1967 Toyota 2000 GT. Also significant was the $506,000 paid for a 2006 Ford GT in Heritage Gulf blue-and-orange colors.

Russo and Steele did $5.8 million in sales Saturday, led by a 2005 Porsche Carrera GT coupe that sold for $781,000. For the day, Russo and Steele sold more than half of its 71 lots at an average of $142,504.

Newcomer JR Auctions sold only seven of its 51 lots Saturday, led by a 1999 Ferrari 456 GTA coupe that brought $44,000. Total sales for the day were $132,000. For the week so far, JR has sold only 17 percent of its vehicles for a total of less than $625,000.

Bonhams concluded its one-day sale Thursday, posting $45.7 million in sales with an 88 percent sell-through rate.

Overall through Saturday from all auction companies

Cumulative total: $338.4M*
755/1,326 lots sold: 56 percent
Average sale price: $440,906
Median sale price: $89,100

*Note from Hagerty: RM Sotheby’s communicated an unofficial total of $172.7M, which is $5.5M different than we witnessed in the room.  We changed our totals to reflect this difference. However, this report might be missing a post-sale transaction in the “top-10 lists.”  Any known post-sale deals will be included in our final recap when all auctions have completed.

2014 Cumulative Results Through Saturday
Cumulative total: $352.7M
696/1,185 lots sold: 59 percent
Average sale price: $506,741
Median sale price: $88,000

Overall Top 10 Sales from all auctions through Saturday:

1.     1964 Ferrari 250 LM Coupe sold for $17,600,000 (RM Sotheby’s)
2.     1962 Ferrari 250 GT SWB Speciale Coupe sold for $16,500,000 (Gooding & Co.)
3.     1998 McLaren F1 LM Coupe sold for $13,750,000 (RM Sotheby’s)
4.     1956 Ferrari 250 GT TdF Coupe sold for $13,200,000 (RM Sotheby’s)
5.     1953 Jaguar C-Type Works Lightweight Roadster sold for $13,200,000 (RM Sotheby’s)
6.     1982 Porsche 956 Coupe sold for $10,120,000 (Gooding & Co.)
7.     1959 Ferrari 250 GT Interim Coupe sold for $8,525,000 (Bonhams)
8.     1959 Ferrari 250 GT California LWB Spyder (open headlight) sold for $8,500,000 (RM Sotheby’s)
9.     1950 Ferrari 275 S/340 America Barchetta sold for $7,975,000 (RM Sotheby’s)
10.  2005 Ferrari Enzo Coupe sold for $6,050,000 (RM Sotheby’s)

Individual results from each company

Bonhams

Overall total: $45.7M
96/109 lots sold: 88 percent
Average sale price: $476,048
Median sale price: $198,000

Overall Top 10 Sales:

1.     1959 Ferrari 250 GT Interim Coupe sold for $8,525,000
2.     1971 Ferrari 365 GTS/4 Daytona Spyder sold for $2,640,000
3.     1985 Ferrari 288 GTO Coupe sold for $2,365,000
4.     1951 Ferrari 212 Inter Cabriolet sold for $2,200,000
5.     1955 Lancia Aurelia B24 Spider America sold for $1,952,500
6.     1953 Fiat 8V Ghia Supersonic Coupe sold for $1,815,000
7.     1987 Porsche 959 Komfort Coupe sold for $1,457,500
8.     1990 Ferrari F40 Coupe sold for $1,237,500
9.     1954 Mercedes-Benz 300SL Gullwing Coupe sold for $1,166,000
10.  1957 Mercedes-Benz 300SL Roadster sold for $1,144,000

2014 Cumulative results
Total: 106.2M
103/117 lots sold: 87 percent
Average sale price: $1,030,806
Median sale price: $192,500

Gooding & Company

Saturday total: $69.5M
63/69 lots sold: 91 percent
Average sale price: $1,103,056
Median sale price: $462,000

Top 10 Saturday Sales:

1.     1962 Ferrari 250 GT SWB Speciale Coupe sold for $16,500,000
2.     1982 Porsche 956 Coupe sold for $10,120,000
3.     1967 Ferrari 275 GTB/4 Coupe sold for $3,877,500
4.     1965 Ferrari 500 Superfast Series I Coupe sold for $3,025,000
5.     1966 Ferrari Dino 206 S Spyder sold for $2,310,000
6.     2015 McLaren P1 Coupe sold for $1,925,000
7.     1965 Ferrari 275 GTS Spyder sold for $1,925,000
8.     1988 Porsche 959 Komfort Coupe sold for $1,732,500
9.     1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,650,000
10.  1934 Rolls-Royce Phantom II Continental Drop Head Coupe sold for $1,650,000
10.  1939 Lagonda V-12 Roadster sold for $1,650,000

2014 Results through Saturday
Total: $60.7M
59/64 lots sold: 92 percent
Average sale price: $1,029,176
Median sale price: $440,000

Mecum Auctions

Saturday total: $25.5M
90/171 lots sold: 53 percent
Average sale price: $283,534
Median sale price: $132,000

Top 10 Saturday Sales:

1.     1969 Lamborghini Miura P400 S Coupe sold for $2,530,000
2.     1976 Porsche 911 Carrera Turbo Coupe sold for $2,145,000
3.     2005 Maserati MC12 Coupe sold for $1,732,500
4.     1989 Ferrari F40 Coupe sold for $1,265,000
5.     1963 Shelby Cobra 289 R&P Roadster sold for $1,100,000
6.     2005 Porsche Carrera GT Coupe sold for $1,100,000
7.     1967 Toyota 2000GT Coupe sold for $1,017,500
8.     2005 Porsche Carrera GT Coupe sold for $852,500
9.     1969 Chevrolet Corvette 427/430 Convertible sold for $825,000
10.  2006 Ford GT Heritage Coupe sold for $506,000

Cumulative total:  $41.2M
335/657 lots sold: 51%
Average Sale Price: $122,941
Median Sale Price: $49,500

Overall Top 10 Sales:

1.     1969 Lamborghini Miura P400 S Coupe sold for $2,530,000
2.     1970 Plymouth Cuda 426/425 Convertible sold for $2,475,000
3.     1976 Porsche 911 Carrera Turbo Coupe sold for $2,145,000
4.     2005 Maserati MC12 Coupe sold for $1,732,500
5.     1989 Ferrari F40 Coupe sold for $1,265,000
6.     2005 Porsche Carrera GT Coupe sold for $1,100,000
7.     1963 Shelby Cobra 289 R&P Roadster sold for $1,100,000
8.     1967 Toyota 2000GT Coupe sold for $1,017,500
9.     2005 Porsche Carrera GT Coupe sold for $852,500
10.  1969 Chevrolet Corvette 427/430 Convertible sold for $825,000

2014 Cumulative results
Total: $33.5M
334/676 lots sold: 49% sell-through rate
Average Sale Price: $100,295
Median Sale Price: $44,820

RM Sotheby’s

Saturday total:  $45.6M*
50/60 lots sold: 83 percent
Average sale price: $889,653
Median sale price: $368,500

Top 10 Saturday Sales:

1.     1956 Ferrari 250 GT TdF Coupe sold for $13,200,000
2.     1931 Bentley 4 1/2-Litre Two-Seater Sports sold for $4,015,000
3.     1966 Ferrari 275 GTB/2 Longnose Alloy Coupe sold for $3,960,000
4.     1963 Ferrari 250 GT Lusso Coupe sold for $1,815,000
5.     1956 Ferrari 250 GT Boano Coupe sold for $1,485,000
6.     1976 Lamborghini Countach LP400 Coupe sold for $1,320,000
7.     1960 Mercedes-Benz 300SL Roadster sold for $1,210,000
8.     1956 Bentley S1 Continental Coachbuilt Drop Head Coupe sold for $1,155,000
9.     1933 Stutz DV-32 Monte Carlo Sedan sold for $935,000
10.  1965 Lamborghini 350 GT Coupe sold for $935,000

Cumulative total: $172.7M*
126/149 lots sold: 85percent
Average sale price: $1,328,401
Median sale price: $420,750

Overall Top 10 Sales:

1.     1964 Ferrari 250 LM Coupe sold for $17,600,000
2.     1998 McLaren F1 LM Coupe sold for $13,750,000
3.     1953 Jaguar C-Type Works Lightweight Roadster sold for $13,200,000
3.     1956 Ferrari 250 GT TdF Coupe sold for $13,200,000
5.     1959 Ferrari 250 GT California LWB Spyder (open headlight) sold for $8,500,000
6.     1950 Ferrari 275 S/340 America Barchetta sold for $7,975,000
7.     2005 Ferrari Enzo Coupe sold for $6,050,000
8.     1931 Bentley 4 1/2-Litre Two-Seater Sports sold for $4,015,000
9.     1966 Ferrari 275 GTB/2 Longnose Alloy Coupe sold for $3,960,000
10.  1967 Ferrari 275 GTB/4 Coupe sold for $3,300,000
10.  1994 Ferrari F40 LM Coupe sold for $3,300,000

2014 Cumulative results
Total: $142.8M
124/136 lots sold: 91percent sell-through rate
Average sale price: $1,199,247
Median sale price: $462,000

Russo and Steele

Saturday total: $5.8M
41/78 lots sold: 53 percent
Average sale price: $142,504
Median sale price: $93,500

Top 10 Saturday Sales:
1.     2005 Porsche Carrera GT Coupe sold for $781,000
2.     1971 Mercedes-Benz 280SE 3.5 Convertible sold for $440,000
3.     1958 Dual-Ghia Hemi Convertible sold for $412,500
4.     1966 Ferrari 330 GT SII Coupe 2+2 sold for $404,250
5.     1973 Ferrari Dino 246 GTS Spyder sold for $363,000
6.     1966 Shelby GT350 Fastback sold for $313,500
7.     1977 Porsche 911 Carrera Turbo Coupe sold for $214,500
8.     1992 Ferrari 512 TR Coupe sold for $195,250
9.     1967 Sunbeam Tiger MK II Convertible sold for $181,500
10.  1997 Lamborghini Diablo VT Roadster sold for $165,000

Cumulative total: $8.5M
112/209 lots sold: 54 percent
Average sale price: $75,920
Median sale price: $38,500

Overall Top 10 Sales:

1.     2005 Porsche Carrera GT Coupe sold for $781,000
2.     1971 Mercedes-Benz 280SE 3.5 Convertible sold for $440,000
3.     1958 Dual-Ghia Hemi Convertible sold for $412,500
4.     1966 Ferrari 330 GT SII Coupe 2+2 sold for $404,250
5.     1973 Ferrari Dino 246 GTS Spyder sold for $363,000
6.     1966 Shelby GT350 Fastback sold for $313,500
7.     1977 Porsche 911 Carrera Turbo Coupe sold for $214,500
8.     1992 Ferrari 512 TR Coupe sold for $195,250
9.     1967 Sunbeam Tiger MK II Convertible sold for $181,500
10.  1997 Lamborghini Diablo VT Roadster sold for $165,000

2014 Cumulative results
Total: $9.6M
81/185 lots sold: 44 percent
Average sale price: $118,379
Median sale price: $61,600

JR Auctions

Saturday total: $132K
7/51 lots sold: 14 percent
Average sale price: $18,857
Median sale price: $13,750

Top 10 Saturday Sales:

1.     1999 Ferrari 456 GTA Coupe sold for $44,000
2.     1966 Chevrolet Chevy II Nova SS Sold for $33,000
3.     1967 Alfa Romeo Giulia Duetto Spider Sold for $26,950
4.     1971 Datsun 240Z Coupe sold for $13,750
5.     1992 Ford Crown Victoria Sedan sold for $6,600
6.     1977 Mercedes-Benz 450SL sold for $3,850
7.     1985 BMW 635CSi Coupe sold for $3,850

Cumulative total: $624K
23/133 lots sold: 17 percent
Average sale price: $27,122
Median sale price: $26,950

Overall Top 10 Sales:

1.     2005 Ferrari F430 Coupe sold for $70,400
2.     1964 Alfa Romeo 2600 Spider sold for $63,250
2.     1965 Shelby Cobra Replica sold for $63,250
4.     1966 Mercedes-Benz 230SL Roadster sold for $45,100
5.     1999 Ferrari 456 GTA Coupe sold for $44,000
5.     1952 Riley RDM Drop Head Coupe sold for $44,000
7.     1962 BMW Isetta Coupe sold for $37,400
8.     1966 Chevrolet Chevy II Nova SS Sold for $33,000
9.     2000 Bentley Arnage Red Label Sedan sold for $29,700
10.  1954 Volkswagen Beetle Sedan sold for $27,500

Related Vehicles For Sale

Posts Carousel

Search the Journal

Latest Articles

Trending Articles