Car star power boosts auction action on Monterey Peninsula

Car star power boosts auction action on Monterey Peninsula

The star cars shined Friday at the collector car auctions taking place on the Monterey Peninsula.

The star cars shined Friday at the collector car auctions taking place on the Monterey Peninsula.

In the daily report from Hagerty, the insurance and vehicle-valuation tracking company that monitors each of the sales, “Much of this week’s perceived success hinged on RM Sotheby’s selling its 1956 Aston Martin DBR1, Gooding & Company selling its 1970 Porsche 917K, and Bonhams selling its 1995 McLaren F1.

“From that standpoint, the upper-most reaches of the market are strong, as each company achieved good results for each model.

917 used in Steve McQueen's Le Mans movie becomes most expensive Porsche ever sold | Bob Golfen photo
917 used in Steve McQueen’s Le Mans movie becomes most expensive Porsche ever sold | Bob Golfen photo

“Indeed, the DBR1 set a record for a British car at public auction,the McLaren set a record for the model at auction, and the 917K ranks as the most expensive Porsche ever sold at auction.”

Further, the Hagerty statement noted, of the 10 cars with the highest bids on Friday, 8 were hammered sold.

The success at the top end of the marketplace boosted the week’s sales total to $171 million. Sell-through rate, average sales price and media price all improved as well.

However, Hagerty noted, vehicles with pre-auction estimated values in the $1 million to $3 million range sold at only a 41 percent sell-through rate, “lagging far behind recent rates for this segment.

“Bid amounts in this segment were generally appropriate, however, meaning sellers continue to be overly optimistic,” Hagerty noted.

Ex-Cunningham E-type on the block at Bonhams Andy Reid photo
Ex-Cunningham team E-type on the block at Bonhams | Andy Reid photo

“Porsche 911s also lagged. One-third of the 911s offered so far were bid to amounts below current market values for their conditions, and modern 911s in particular didn’t have the same interest they have commanded over the past year.

“On the flip side, Shelby Cobras were strong, including a 1964 Cobra 289, at $1.089 million. Porsche 356s also performed well with a full third of those models selling for amounts above what their conditions warranted. A 1964 356A Speedster sold well at $297,000.”

The bidding wraps up Saturday, when RM Sotheby’s offers a 1961 Ferrari 250 GT SWB, Gooding features a 1966 Ferrari 275 GTB/C, Mecum rolls out its supercar lineup and Russo and Steele puts a 1965 Shelby Cobra 289 R&P roadster on the block.

Overall sales through Friday from all auction companies

Note: Only sales on the block are included, and include buyer’s fees. Post-block sales will be included in the auction houses’ official results to be published at a later date.

Cumulative total: $171.0 million
483/896 lots sold: 54 percent sell-through rate
Average sale price: $353,981
Median sale price: $68,200

Prior year results (2016) through Friday
Cumulative total: $110.9 million
415/813 lots sold: 51 percent sell-through rate
Average sale price: $267,114
Median sale price: $55,000

Overall Top 10 Sales from all auctions through Friday:

1957 Chevrolet is next in line for the Mecum auction block | Larry Edsall photo
1957 Chevrolet is next in line for the Mecum auction block | Larry Edsall photo

1. 1956 Aston Martin DBR1 Roadster, $22,550,000 (RM Sotheby’s)
2. 1995 McLaren F1 Coupe, $15,620,000 (Bonhams)
3. 1970 Porsche 917K Race Car, $14,080,000 (Gooding & Company)
4. 1959 Aston Martin DB4GT Prototype Coupe, $6,765,000 (RM Sotheby’s)
5. 1955 Ferrari 121 LM Spider, $5,720,000 (RM Sotheby’s)
6. 1959 Ferrari 250 GT SI Cabriolet (open headlight), $4,950,000 (Gooding & Company)
7. 1950 Ferrari 166 MM Berlinetta, $4,510,000 (RM Sotheby’s)
8. 1956 Maserati A6G/54 Coupe, $4,400,000 (Gooding & Company)
9. 2015 Ferrari LaFerrari Coupe, $3,520,000 (Gooding & Company)
10. 1930 Bentley 6 1/2 Litre Speed Six Coupe, $3,410,000 (RM Sotheby’s)

Individual results for each auction company

Bonhams
Friday total: $43.6 million
80/109 lots sold: 73 percent sell-through rate
Average sale price: $545,586
Median sale price: $148,500

Top 10 Sales:
1. 1995 McLaren F1 Coupe, $15,620,000
2. 1965 Ferrari 275 GTB Alloy Coupe, $3,080,000
3. 1967 Ferrari 275 GTB/4 Coupe, $2,519,000
4. 2003 Ferrari Enzo Coupe, $2,040,500
5. 1990 Ferrari F40 Coupe, $1,457,500
6. 1955 Lancia Aurelia B24 Spider America, $1,265,000
7. 1956 Ferrari 250 GT Boano Coupe, $1,133,000
8. 1964 Shelby Cobra 289 R&P Roadster, $1,089,000
9. 1941 Mercedes-Benz 540K Cabriolet B, $929,500
10. 1955 Mercedes-Benz 300SL Gullwing Coupe, $919,600

Prior year (2016) results
Total: $34.1 million
99/115 lots sold: 86 percent sell-through rate
Average sale price: $344,526
Median sale price: $121,000

Gooding & Company
Friday total: $45.2 million
43/57 lots sold: 75 percent sell-through rate
Average sale price: $1,051,817
Median sale price: $280,500

Top 10 Friday Sales:
1. 1970 Porsche 917K Race Car, $14,080,000
2. 1959 Ferrari 250 GT SI Cabriolet (open headlight), $4,950,000
3. 1956 Maserati A6G/54 Coupe, $4,400,000
4. 2015 Ferrari LaFerrari Coupe, $3,520,000
5. 1954 Ferrari 500 Mondial Spider, $3,162,500
6. 1955 Mercedes-Benz 300SL Gullwing Coupe, $1,677,500
7. 1962 Ferrari 250 SII Cabriolet, $1,375,000
8. 1988 Porsche 959 Komfort Coupe, $1,056,000
9. 1957 Mercedes-Benz 300SL Roadster, $1,034,000
10. 1993 Porsche 911 Carrera 3.8 RSR Coupe, $946,000

Prior year (2016) results through Saturday (first day of Gooding’s 2016 Sale)
Total: $76.8 million
70/80 lots sold: 88 percent sell-through rate
Average sale price: $1,096,664
Median sale price: $330,000

Mecum Auctions
Friday total: $6.6 million
80/153 lots sold: 52 percent sell-through rate
Average sale price: $80,067
Median sale price: $70,125

Top 10 Friday Sales*:
1. 1971 Plymouth Cuda Hemi 426/425 Hardtop Coupe, $335,500
2. 1972 Ferrari Dino 246 GT Coupe, $231,000
3. 2012 Ferrari 458 Italia Coupe, $214,500
4. 2001 BMW Z8 Roadster, $198,000
5. 1989 Porsche 911 Carrera Speedster, $176,000
6. 2010 Ferrari 599 GTB Targa, $170,500
7. 1953 Buick Roadmaster Model 76X Skylark Convertible, $165,000
8. 1988 Porsche 911 Turbo 930 Coupe, $159,500
9. 1963 Chevrolet Corvette 327/360 FI Split-Window Coupe, $154,000
10. 1970 Plymouth Cuda Hemi 426/425 Hardtop Coupe, $148,500
* Includes Wednesday and Thursday top sales

Cumulative total through Friday
Total: $9.7 million
198/472 lots sold: 42 percent sell-through rate
Average sale price: $48,814
Median sale price: $33,000

Prior Year (2016) results through Friday
Total: $12.2 million
210/498 lots sold: 42 percent sell-through rate
Average sale price: $58,153
Median sale price: $38,500

RM Sotheby’s
Friday total: $63.0 million
46/58 lots sold: 79 percent sell-through rate
Average sale price: $1,368,484
Median sale price: $369,875

Top 10 Friday Sales:
1. 1956 Aston Martin DBR1 Roadster, $22,550,000
2. 1959 Aston Martin DB4GT Prototype Coupe, $6,765,000
3. 1955 Ferrari 121 LM Spider, $5,720,000
4. 1950 Ferrari 166 MM Belinetta, $4,510,000
5. 1930 Bentley 6 1/2 Litre Speed Six Coupe, $3,410,000
6. 1952 Ferrari 342 America Cabriolet, $2,255,000
7. 1935 Aston Martin Ulster Competition Sports Roadster, $2,172,500
8. 1964 Shelby Cobra 289 R&P Roadster, $1,100,000
9. 1964 Maserati 5000GT Coupe, $1,017,500
10. 1936 Auburn 852 Supercharged Speedster, $1,017,500

Prior year (2016) results through Friday
Total: $62.0 million
40/52 lots sold: 77 percent sell through
Average sale price: $1,549,763
Median sale price: $442,750

Russo and Steele
Friday total: $1.5 million
30/74 lots sold: 41 percent sell-through rate
Average sale price: $48,583
Median sale price: $42,075

Top 10 Friday Sales:
1. 1967 Shelby GT350 Fastback, $105,600
2. 1969 Shelby GT500 SportsRoof, $96,800
3. 1969 Chevrolet Camaro Z/28 Sport Coupe, $90,750
3. 1969 Chevrolet Camaro Sport Coupe, $90,750
5. 1968 Porsche 912 Targa, $83,600
6. 1988 Porsche 911 Turbo 930 Cabriolet, $78,100
7. 1958 Chevrolet Corvette Convertible, $71,500
8. 1969 Iso Lele Coupe, $71,500
9. 1972 Porsche 911 E Targa, $61,600
10. 1967 Chevrolet Chevelle Malibu Convertible, $60,500

Cumulative total through Friday
Total: $2.5 million
67/127 lots sold: 53 percent sell-through rate
Average sale price: $39,957
Median sale price: $33,000

Top 10 Sales through Friday:
1. 1967 Shelby GT350 Fastback, $105,600
2. 1969 Shelby GT500 SportsRoof, $96,800
3. 1969 Chevrolet Camaro Sport Coupe, $90,750
4. 1969 Chevrolet Camaro Z/28 Sport Coupe, $90,750
5. 1968 Porsche 912 Targa, $83,600
6. 1932 Packard Standard Eight-Series 902 Coupe Roadster, $79,750
7. 1988 Porsche 911 Turbo 930 Cabriolet, $78,100
8. 1937 Cadillac Series 30 Convertible, $77,000
9. 1958 Chevrolet Corvette Convertible, $71,500
10. 1969 Iso Lele Coupe, $71,500

Prior year (2016) results through Friday
Total: $2.5 million
66/148 lots sold: 45 percent
Average sale price: $38,505
Median sale price: $34,375

Worldwide Auctioneers (one-day sale on Thursday)

Total: $7.0 million
49/73 lots sold: 67 percent
Average sale price: $142,746
Median sale price: $82,500

Top 10 Sales:
1. 1940 BMW 328 Roadster, $605,000
2. 1912 Fiat Tipo 56 Touring, $495,000
3. 1937 Packard Twelve-Series 1507 Coupe Roadster, $467,500
4. 1956 Dual-Ghia Hemi Convertible, $379,500
5. 1963 Chevrolet Corvette Z06 (big tank) Split-Window Coupe, $357,500
6. 1937 Jaguar SS100 2.5 Tourer, $330000
7. 1997 Porsche 911 Turbo S Coupe, $291,500
8. 2006 Ford GT Coupe, $279,400
9. 1961 Bentley S2 Continental Flying Spur James Young Sedan, $264,000
10. 1948 Simca-Gordini Grand Prix Race Car, $242,000

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