Ford GT Sells For a Record $11 million at RM's Monterey Auction
Sat, 18 Aug 2012
RM Auctions sold a 1968 Ford GT40 Gulf/Mirage coupe Friday night at its Monterey sale for $11 million, setting a record for the highest price paid for an American car at auction. The Friday sales showed once again a very strong market for cars selling at auction, according to statistics gathered by classic car insurance giant Hagerty. In comparing this year's sales to last year, the total number of cars sold in two days of auctions was down slightly while the total amount generated -- $67.5 million – is far greater, as is the average selling price. The auctions in Monterey continue through Sunday.
Listed below are the raw results witnessed by Hagerty during the live auctions and may not factor in any post-sale deals that have occurred. These numbers include the appropriate buyer's premiums.
Overall through Friday from all auction companies
Cumulative Total: $67.5 million
473/778 lots sold: 61 percent
Average Sale Price: $142,595
2011 Cumulative Results Through Friday
Cumulative Total: $39.3 million
517/819 lots sold: 63 percent
Average Sale Price: $75,947
Overall Top 10 Sales from all auctions through Friday:
1. 1968 Ford GT40 Gulf/Mirage Coupe sold for $11,000,000 (RM)
2. 1955 Ferrari 410 S Berlinetta sold for $8,250,000 (RM)
3. 1938 Horch 853A Roadster sold for $5,170,000 (RM)
4. 1938 Talbot-Lago T23 Teardrop Coupe sold for $2,640,000 (RM)
5. 1966 Ford GT40 Coupe sold for $2,205,000 (Bonhams)
6. 1965 Shelby Cobra 427 Competition Roadster sold for $1,485,000 (RM)
7. 1998 Mercedes-Benz CLK GTR Coupe sold for $1,100,000 (RM)
8. 2001 Audi R8 Le Mans sold for $1,034,000 (RM)
9. 1929 Duesenberg Model J Sport Sedan sold for $990,000 (RM)
10. 1965 Shelby GT350R Coupe sold for $990,000 (RM)
Results broken down by auction company
RM
Friday total: $45.8 million
55/60 lots sold: 92 percent
Average Sale Price: $832,030
Top 10 Friday Sales:
1. 1968 Ford GT40 Gulf/Mirage Coupe sold for $11,000,000
2. 1955 Ferrari 410 S Berlinetta sold for $8,250,000
3. 1938 Horch 853A Roadster sold for $5,170,000
4. 1938 Talbot-Lago T23 Teardrop Coupe sold for $2,640,000
5. 1965 Shelby Cobra 427 Competition Roadster sold for $1,485,000
6. 1998 Mercedes-Benz CLK GTR Coupe sold for $1,100,000
7. 2001 Audi R8 Le Mans sold for $1,034,000
8. 1965 Shelby GT350R Coupe sold for $990,000
9. 1929 Duesenberg Model J Sport Sedan sold for $990,000
10. 1932 Packard Twin Six Phaeton sold for $946,000
2011 Results through Friday
Total: $17.4 million
64/79 lots sold: 81 percent sell-through rate
Average Sale Price: $271,596
Bonhams
Friday total: $7.1 million
49/96 lots sold: 51 percent
Average Sale Price: $144,788
Top 10 Friday Sales:
1. 1966 Ford GT40 Coupe sold for $2,205,000
2. 1966 Lola T70 Mk II GT Coupe sold for $324,000
3. 1967 Ferrari 330 GTC Berlinetta sold for $299,800
4. 1941 Tatra T87 Aerodynamic Saloon sold for $280,000
5. 1970 BMW 3.0 CSL Group 2 Coupe sold for $214,000
6. 1938 Aston Martin 15/98 Sports Tourer sold for $214,000
7. 1931 Rolls-Royce Phantom II Continental Touring Saloon sold for $178,800
8. 1967 Ferrari 365 GT Coupe sold for $157,900
9. 1931 Auburn 898 Boattail Speedster sold for $153,500
10. 1964 Huffaker-Genie Mark 10 USRRC Sports Racer sold for $142,500
Cumulative Total through Friday : $8.8 million
77/153 lots sold: 50 percent sell-through rate
Average Sale Price: $114,599
Overall Top 10 Sales through Friday:
1. 1966 Ford GT40 Coupe sold for $2,205,000
2. 1966 Lola T70 Mk II GT Coupe sold for $324,000
3. 1937 Crocker V-Twin Motorcycle sold for $302,000
4. 1940 Crocker Big Tank V-Twin Motorcycle sold for $302,000
5. 1967 Ferrari 330 GTC Berlinetta sold for $299,800
6. 1937 Crocker V-Twin Motorcycle sold for $291,000
7. 1941 Tatra T87 Aerodynamic Saloon sold for $280,000
8. 1938 Aston Martin 15/98 Sports Tourer sold for $214,000
9. 1970 BMW 3.0 CSL Group 2 Coupe sold for $214,000
10. 1937 Brough Superior SS100 Motorcycle sold for $203,000
2011 Results through Friday
Total: $10.2 million
63/129 lots sold: 49 percent sell-through rate
Average Sale Price: $163,027
Mecum
Friday total: $6.7 million
120/211 lots sold: 57 percent
Average Sale Price: $56,091
Top 10 Friday Sales:
1. 1953 Hudson Convertible sold for $201,400
2. 1970 Chevrolet Chevelle LS6 454/450 Convertible sold for $185,500
3. 1970 Shelby GT500 Convertible sold for $170,660
4. 1936 Cord 810 Sportsman Convertible sold for $164,300
5. 1968 Shelby GT500 KR Convertible sold for $159,000
6. 1949 Chevrolet Convertible sold for $153,700
7. 1957 Chevrolet Bel Air 283/250 Convertible sold for $127,200
8. 1957 Ford Thunderbird F-Code Convertible sold for $124,020
9. 1958 Chrysler 300D Convertible sold for $121,900
10. 1960 Mercedes-Benz 220SE Convertible sold for $111,300
Cumulative Total through Friday : $9.7 million
232/380 lots sold: 61 percent sell-through rate
Average Sale Price: $41,964
Overall Top 10 Sales through Friday:
1. 1953 Hudson Convertible sold for $201,400
2. 1970 Chevrolet Chevelle LS6 454/450 Convertible sold for $185,500
3. 1970 Shelby GT500 Convertible sold for $170,660
4. 1936 Cord 810 Sportsman Convertible sold for $164,300
5. 1968 Shelby GT500 KR Convertible sold for $159,000
6. 1949 Chevrolet Convertible sold for $153,700
7. 1953 Cadillac Eldorado Convertible sold for $127,200
8. 1957 Chevrolet Bel Air 283/250 Convertible sold for $127,200
9. 1957 Ford Thunderbird F-Code Convertible sold for $124,020
10. 1958 Chrysler 300D Convertible sold for $121,900
2011 Results through Friday
Total: $8.4 million
309/471 lots sold: 66 percent sell-through rate
Average Sale Price: $27,083
Russo and Steele
Friday total: $2.1 million
47/88 lots sold: 53 percent
Average Sale Price: $43,895
Top 10 Friday Sales:
1. 2010 Superlite SLC 427 Coupe sold for $105,600
2. 1983 Ferrari 512 BBi Coupe sold for $96,250
3. 1929 Packard 626 Coupe Convertible sold for $88,000
4. 1969 Chevrolet Camaro Pro Street Coupe sold for $88,000
5. 2010 Dodge Viper ACR "VoooDoo Edition" Coupe sold for $80,300
6. 1961 Mercedes-Benz 220SE Cabriolet sold for $79,750
7. 1969 Mercedes-Benz 280SL Convertible sold for $68,750
8. 1966 Mercedes-Benz 600 SWB Sedan sold for $67,100
9. 1962 Allard L Roadster sold for $66,000
10. 1970 Chevrolet Chevelle 454 Coupe sold for $66,000
Cumulative Total through Friday : $3.1 million
97/185 lots sold: 52 percent sell-through rate
Average Sale Price: $32,226
Overall Top 10 Sales through Friday:
1. 2010 Superlite SLC 427 Coupe sold for $105,600
2. 1983 Ferrari 512 BBi Coupe sold for $96,250
3. 1929 Packard 626 Coupe Convertible sold for $88,000
4. 1969 Chevrolet Camaro Pro Street Coupe sold for $88,000
5. 1989 Porsche 930 Turbo Cabriolet sold for $88,000
6. 2010 Dodge Viper ACR "VoooDoo Edition" Coupe sold for $80,300
7. 1961 Mercedes-Benz 220SE Cabriolet sold for $79,750
8. 1969 Mercury Cougar XR-7 428 CJ Convertible sold for $68,750
9. 1969 Mercedes-Benz 280SL Convertible sold for $68,750
10. 1966 Mercedes-Benz 600 SWB Sedan sold for $67,100
2011 Results Through Friday
Cumulative Total: $3.2 million
81/140 sold: 58 percent
Average Sale Price: $40,037
Monterey car week is packed with car shows, vintage racing and car auctions. Autoweek will be there providing streaming photo galleries and live coverage of the Pebble Beach Concours d'Elegance, historic racing at Laguna Seca, the Monterey car auctions and plenty more. Go to Autoweek's Pebble Beach home page for complete coverage and live updates.
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