Official Monterey totals are in. With Gooding, RM, Bonhams & Butterfields, Russo and Steele, and Mecum all reporting, this year's final tally from the weekend of auctions is $119,784,028 from 561 of 836 cars sold (67%). Average price per car comes to $212,711
According to SCM Publisher Keith Martin, "The Collector Car market showed surprising strength in Monterey, while the numbers were down from last year, the fact that 561 cars sold for a total of nearly $120 million shows that people are still willing to spend for the right cars. Compared to whats been happening in the real estate and stock markets, this year's Monterey results have to be regarded as an outstanding affirmation of the strength of the collector car hobby."
Compared with last year, when 378 of 542 cars sold (70%) for a $138,996,425 total and an average sale price of $367,715, the number represents a 17% decrease in overall sales from 180 more cars. Overall, it's about what SCM expected from the weekend, as did other industry insiders they spoke with, and it's good news for the hobby. Here's a look at the individual results:
Gooding & Company's Pebble Beach Auction led the charge. The company posted $50,753,850 in sales from 128 of 159 cars, and top sale was a 1962 Ferrari 250 GT SWB California Spyder, which brought $5,115,000.
RM put up $35,522,600 from 206 of 239 cars, with the ex-Phil Hill Jaguar C-type making high sale at $2,530,000.
At its inaugural Monterey sale, Mecum sold 105 of 224 cars for a $14,249,725 total, including $7,685,000 from the weekend's high sale, a 1965 Shelby Cobra Daytona Coupe.
Bonhams & Butterfields sold 62 of 102 cars for a $14,284,288 total, and a 1933 Duesenberg Model J Torpedo Convertible Victoria was the big seller there at $1,437,000.
And Russo and Steele totaled $4,973,565 from 60 of 112 cars. High sale there was a 1964 Shelby Cobra 289 Roadster at $473,050.
To read more about this year's Monterey results, please visit sportscarmarket.com.
