Money flows at Monterey Auctions
Sun, 19 Aug 2012
Buyers of classic vehicles have dug deep into their pockets at auctions on the Monterey Peninsula, easily topping the sales totals from last year with one auction still remaining. More than $203 million has been spent on 704 vehicles, for an average sale price of $288,360.
In 2011, the auction houses set a record for total sales during Pebble Beach week at $197,732,538 having been spent on 881 vehicles for an average sale price of $224,441. According to Sports Car Market, the last decade's highest average sale price high-water mark was set in 2008, when the average was $352,880.
Officials from Hagerty Insurance have representatives at all the auctions and recorded the information.
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 Saturday from all auction companies
Cumulative Total: $203 million
704/1,163 lots sold: 61 percent
Average Sale Price: $288,360
2011 Cumulative Results Through Saturday
Cumulative Total: $157. million
801/1,263 lots sold: 63 percent
Average Sale Price: $196,005
Overall Top 10 Sales from all auctions through Saturday:
1. 1960 Ferrari 250 GT LWB California Competizione Spider sold for $11,275,000 (Gooding)
2. 1968 Ford GT40 Gulf/Mirage Coupe sold for $11,000,000 (RM)
3. 1957 Ferrari 250 California GT SWB Spyder sold for $8,580,000 (RM)
4. 1955 Ferrari 410 S Berlinetta sold for $8,250,000 (RM)
5. 1956 Ferrari 250 GT TdF Coupe sold for $6,710,000 (RM)
6. 1928 Bentley Le Mans 4 1/2-Litre sold for $6,050,000 (Gooding)
7. 1972 Porsche 917/10 Spyder sold for $5,830,000 (Mecum)
8. 1938 Horch 853A Roadster sold for $5,170,000 (RM)
9. 1953 Ferrari 340 MM Spyder sold for $4,730,000 (Gooding)
10. 1957 Ferrari 500 TRC sold for $4,510,000 (Gooding)
INDIVIDUAL RESULTS
RM
Saturday total: $48.8 million
52/62 lots sold: 84 percent
Average Sale Price: $938,596
Top 10 Saturday Sales:
1. 1957 Ferrari 250 California GT SWB Spyder sold for $8,580,000
2. 1956 Ferrari 250 GT TdF Coupe sold for $6,710,000
3. 1955 Aston Martin DB3S sold for $3,685,000
4. 1967 Ford GT40 Mk I Coupe sold for $2,860,000
5. 2001 Bentley Speed 8 Le Mans sold for $2,530,000
6. 1960 Aston Martin DB4 GT Coupe sold for $2,035,000
7. 1929 Duesenberg Model J Convertible Coupe sold for $1,897,500
8. 1953 Bentley R-Type Continental Fastback sold for $1,622,500
9. 1967 Ferrari 275 GTB/4 Coupe sold for $1,485,000
10. 1967 Ferrari 275 GTB/4 Competizione Speciale Coupe sold for $1,485,000
Cumulative Total through Saturday: $94.6 million
107/122 lots sold: 88 percent sell-through rate
Average Sale Price: $883,819
Overall Top 10 Sales:
1. 1968 Ford GT40 Gulf/Mirage Coupe sold for $11,000,000
2. 1957 Ferrari 250 California GT SWB Spyder sold for $8,580,000
3. 1955 Ferrari 410 S Berlinetta sold for $8,250,000
4. 1956 Ferrari 250 GT TdF Coupe sold for $6,710,000
5. 1938 Horch 853A Roadster sold for $5,170,000
6. 1955 Aston Martin DB3S sold for $3,685,000
7. 1967 Ford GT40 Mk I Coupe sold for $2,860,000
8. 1938 Talbot-Lago T23 Teardrop Coupe sold for $2,640,000
9. 2001 Bentley Speed 8 Le Mans sold for $2,530,000
10. 1960 Aston Martin DB4 GT Coupe sold for $2,035,000
2011 Results through Saturday
Total: $79.2 million
123/145 lots sold: 85 percent sell-through rate
Average Sale Price: $643,902
GOODING AND COMPANY
Saturday total: $60.4 million
61/68 lots sold: 90 percent
Average Sale Price: $990,280
Top 10 Saturday Sales:
1. 1960 Ferrari 250 GT LWB California Competizione Spider sold for $11,275,000
2. 1928 Bentley Le Mans 4 1/2 Liter sold for $6,050,000
3. 1953 Ferrari 340 MM Spider sold for $4,730,000
4. 1957 Ferrari 500 TRC sold for $4,510,000
5. 1953 Jaguar C-Type Roadster sold for $3,850,000*
6. 1960 Porsche RS60 Spyder sold for $3,465,000
7. 1962 Ferrari 400 Superamerica Coupe sold for $2,365,000
8. 1929 Duesenberg Model J Dual Cowl Phaeton sold for $1,980,000
9. 1955 Maserati A6G/2000 Berlinetta sold for $1,650,000
10. 1963 Mercedes-Benz 300SL Roadster sold for $1,595,000
* Post-block sale. Final price is estimated.
2011 Results through Saturday
Total: $40.9 million
59/68 lots sold: 87 percent sell-through rate
Average Sale Price: $693,220
Mecum
Saturday total: $20.9 million
85/174 lots sold: 49 percent
Average Sale Price: $245,556
Top 10 Saturday Sales:
1. 1972 Porsche 917/10 Spyder sold for $5,830,000
2. 1908 Simplex 50 Speedcar Roadster sold for $2,014,000
3. 1972 Ferrari 365 GTB/4 Daytona Spyder sold for $1,113,000
4. 1974 Porsche 911 RSR IROC sold for $927,500
5. 1987 Porsche 962 sold for $874,500
6. 1965 Shelby Cobra 289 Roadster sold for $636,000
7. 1968 Chevrolet Corvette L88 Convertible sold for $609,500
8. 1977 Porsche 935 Desperado Racecar sold for $577,700
9. 1967 Chevrolet Corvette COPO Convertible sold for $556,500
10. 1973 Porsche 911 Carrera RS Lightweight Coupe sold for $498,200
Cumulative Total through Saturday: $30.6 million
317/554 lots sold: 57 percent sell-through rate
Average Sale Price: $96,555
Overall Top 10 Sales through Saturday:
1. 1972 Porsche 917/10 Spyder sold for $5,830,000
2. 1908 Simplex 50 Speedcar Roadster sold for $2,014,000
3. 1972 Ferrari 365 GTB/4 Daytona Spyder sold for $1,113,000
4. 1974 Porsche 911 RSR IROC sold for $927,500
5. 1987 Porsche 962 sold for $874,500
6. 1965 Shelby Cobra 289 Roadster sold for $636,000
7. 1968 Chevrolet Corvette L88 Convertible sold for $609,500
8. 1977 Porsche 935 Desperado Racecar sold for $577,700
9. 1967 Chevrolet Corvette COPO Convertible sold for $556,500
10. 1973 Porsche 911 Carrera RS Lightweight Coupe sold for $498,200
2011 Results through Saturday
Total: $22.6 million
444/740 lots sold: 60 percent sell-through rate
Average Sale Price: $50,833
Russo and Steele
Saturday total: $5.5 million
46/81 lots sold: 57 percent
Average Sale Price: $119,027
Top 10 Saturday Sales:
1. 1965 Shelby Cobra 289 Roadster sold for $781,000
2. 1972 Ferrari 365 GTB/4 Daytona Coupe sold for $379,500
3. 1972 Ferrari Dino 246 GTS Targa sold for $363,000
4. 1956 Alfa Romeo Sprint Veloce Ultra Light Coupe sold for $302,500
5. 1974 Ferrari Dino 246 GTS Targa sold for $247,500
6. 2006 Mercedes-Benz SLR McLaren Roadster sold for $237,600
7. 1966 Shelby GT350 Fastback sold for $236,500
8. 1953 Chevrolet Corvette Roadster sold for $170,500
9. 1959 Devin SS Roadster sold for $165,000
10. 2009 Bentley Arnage T Sedan sold for $145,200
Cumulative Total through Saturday: $8.6 million
143/266 lots sold: 54 percent sell-through rate
Average Sale Price: $60,148
Overall Top 10 Sales through Saturday:
1. 1965 Shelby Cobra 289 Roadster sold for $781,000
2. 1972 Ferrari 365 GTB/4 Daytona Coupe sold for $379,500
3. 1972 Ferrari Dino 246 GTS Targa sold for $363,000
4. 1956 Alfa Romeo Sprint Veloce Ultra Light Coupe sold for $302,500
5. 1974 Ferrari Dino 246 GTS Targa sold for $247,500
6. 2006 Mercedes-Benz SLR McLaren Roadster sold for $237,600
7. 1966 Shelby GT350 Fastback sold for $236,500
8. 1953 Chevrolet Corvette Roadster sold for $170,500
9. 1959 Devin SS Roadster sold for $165,000
10. 2009 Bentley Arnage T Sedan sold for $145,200
2011 Results Through Saturday
Cumulative Total: $8.3 million
146/228 sold: 63 percent
Average Sale Price: $56,911
Bonhams
Overall Total: $8.8 million
76/153 lots sold: 50 percent sell-through rate
Average Sale Price: $114,599
Overall Top 10 Sales:
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
Overall 2011 Results
Total: $10.3 million
63/129 lots sold: 49 percent sell-through rate
Average Sale Price: $163,121
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.
By Roger Hart