Looking back at Monterey and looking towards the rest of 2021

“We forecast 2021 will be the best year ever for auctions, largely thanks to the growth of online platforms.”
–Hagerty, August 15, 2021

That’s a big claim even though things are still a little weird out there.

But as Monterey sales just showed us, people will still put out strong money for strong cars.

Some examples:

Gooding & Company got a staggering $20,465,000 for a McLaren F1.

A Lexus LFA brought in $1.6 million at RM Sotheby’s sale. Hagerty calls that a record for a Japanese road car at auction.

Mecum’s 1966 Ferrari 275 GTB/6C long-nose fetched $2.6 million, right in the meat of the estimate.

While LaFerrari prices have seemed a little on the decline lately, Mecum got $3.4 million for theirs, beating Hagerty's No. 1 value by $400,000.

Mecum also got $2.6 million for Daisy, the one-of-one Cobra concept for a new millennium.

Although, some impressive cars did go unsold, with perhaps the biggest shocker being the Porsche 917K–the one driven by David Hobbs and Mike Hailwood at Sebring–and featured in the film Le Mans–stalling out at $15 million.

Courtesy of Hagerty, let’s do the numbers:

Monterey Car Week Auctions
15 August 2021 (Results through 14 August 2021)

Listed below are the raw results Hagerty Valuation Team members witnessed during live auctions. They may not factor in post-sale deals that have occurred. These numbers include the appropriate buyer’s premiums.

Overall through Saturday from all auction companies
Cumulative Total: $342.8M
801/1,005 lots sold: 80% sell-through rate
Average Sale Price: $428,004

2019 Cumulative Results through Saturday
(Bonhams, RM Sotheby's, Gooding, Mecum, Russo and Steele)
Cumulative Total: $250.6M
750/1,279 lots sold: 59% sell-through rate
Average Sale Price: $334,114

Overall Top 10 Sales from all auctions through Saturday:
1. 1995 McLaren F1 Coupe sold for $20,465,000 (Gooding & Company)
2. 1959 Ferrari 250 California LWB Competizione Spider (closed headlight) sold for $10,840,000 (Gooding & Company)
3. 1962 Aston Martin DB4 GT Zagato Coupe sold for $9,520,000 (RM Sotheby's)
4. 1962 Ferrari 268 SP Spider sold for $7,705,000 (RM Sotheby's)
5. 1966 Ferrari 275 GTB Long Nose Alloy Coupe sold for $7,705,000 (RM Sotheby's)
6. 1958 Ferrari 250 GT TdF Coupe sold for $6,000,000 (RM Sotheby's)
7. 1929 Bugatti Type 35B Grand Prix Roadster sold for $5,615,000 (Gooding & Company)
8. 1928 Mercedes-Benz 26/120/180 S Type Sports Tourer sold for $5,395,000 (Bonhams)
9. 1958 Ferrari 250 GT Cabriolet SI (closed headlight) sold for $4,405,000 (Gooding & Company)
10. 1963 Shelby Cobra 289 R&P Roadster sold for $4,130,000 (RM Sotheby's)

Results broken down by Auction Company

RM SOTHEBY'S
Cumulative Total through Saturday: $144.9M
144/161 lots sold: 89% sell-through rate
Average Sale Price: $1,006,552

Overall Top 10 Sales:
1. 1962 Aston Martin DB4 GT Zagato Coupe sold for $9,520,000
2. 1962 Ferrari 268 SP Spider sold for $7,705,000
3. 1966 Ferrari 275 GTB Long Nose Alloy Coupe sold for $7,705,000
4. 1958 Ferrari 250 GT TdF Coupe sold for $6,000,000
5. 1963 Shelby Cobra 289 R&P Roadster sold for $4,130,000
6. 1995 Ferrari F50 Coupe sold for $3,965,000
7. 1953 Ferrari 166 MM SII Spider sold for $3,855,000
8. 1959 Aston Martin DB4 GT Lightweight Coupe sold for $3,855,000
9. 2016 Ferrari F60 America Spider sold for $3,635,000
10. 2003 Ferrari Enzo Coupe sold for $3,360,000

2019 Cumulative Results
Cumulative Total through Saturday: $107.1M
134/184 lots sold: 73% sell-through rate
Average Sale Price: $799,535

GOODING & COMPANY
Cumulative Total through Saturday: $106.5M
110/128 lots sold: 86% sell-through rate
Average Sale Price: $968,289

Overall Top 10 Sales:
1. 1995 McLaren F1 Coupe sold for $20,465,000
2. 1959 Ferrari 250 California LWB Competizione Spider (closed headlight) sold for $10,840,000
3. 1929 Bugatti Type 35B Grand Prix Roadster sold for $5,615,000
4. 1958 Ferrari 250 GT Cabriolet SI (closed headlight) sold for $4,405,000
5. 1930 Duesenberg Model J Murphy Disappearing Top Convertible Coupe sold for $3,965,000
6. 1967 Ferrari 275 GTB/4 Coupe sold for $3,662,500
7. 1961 Aston Martin DB4 GT Coupe sold for $3,305,000
8. 1963 Mercedes-Benz 300SL Hardtop Coupe sold for $3,085,000
9. 1914 Stutz 4E Bearcat Roadster sold for $2,920,000
10. 1992 Ferrari F40 Coupe sold for $2,892,500

2019 Cumulative Results
Cumulative Total through Saturday: $76.8M
107/139 lots sold: 77% sell-through rate
Average Sale Price: $717,653

MECUM
Cumulative Total through Saturday: $53.5M
391/509 lots sold: 77% sell-through rate
Average Sale Price: $136,912

Overall Top 10 Sales:
1. 2014 Ferrari LaFerrari Coupe sold for $3,410,000
2. 1967 Shelby Cobra 427 (CSX3300 - CSX3360) Roadster sold for $2,860,000
3. 1966 Ferrari 275 GTB Long Nose Coupe sold for $2,640,000
4. 2004 Ford GT Coupe sold for $2,640,000
5. 1929 Duesenberg Model J Murphy Convertible Sedan sold for $2,365,000
6. 1963 Ferrari 250 GT Lusso Coupe sold for $1,760,000
7. 2015 Porsche 918 Spyder Weissach Roadster sold for $1,595,000
8. 1965 Shelby GT350R Race Model Fastback sold for $1,265,000
9. 2004 Porsche Carrera GT Coupe sold for $1,210,000
10. 2022 Acura NSX Type S Coupe sold for $1,100,000*
* Charity lot

2019 Cumulative Results
Cumulative Total through Saturday: $28.9M
280/590 lots sold: 47% sell-through rate
Average Sale Price: $103,210

BONHAMS
Cumulative Total through Friday: $35.9M
122/139 lots sold: 88% sell-through rate
Average Sale Price: $294,574

Overall Top 10 Sales:
1. 1928 Mercedes-Benz 26/120/180 S Type Sports Tourer sold for $5,395,000
2. 1948 Talbot-Lago Record T26 Cabriolet sold for $1,875,000
3. 1952 Ferrari 212 Europa Cabriolet sold for $1,820,000
4. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,710,000
5. 1974 Alfa Romeo Tipo 33 TT 12 Race Car sold for $1,677,000
6. 1992 Ferrari F40 Coupe sold for $1,600,000
7. 1966 Shelby Cobra 428 Roadster sold for $1,050,000
8. 1964 AC Cobra 289 Roadster sold for $995,000
9. 1966 Shelby Cobra 428 Roadster sold for $995,000
10. 1934 Riley MPH Sports Roadster sold for $967,500

2019 Cumulative Results
Cumulative Total through Friday: $30.8M
165/220 lots sold: 75% sell-through rate
Average Sale Price: $186,467

RUSSO AND STEELE
Cumulative Total through Saturday: $1.9M
34/68 lots sold: 50% sell-through rate
Average Sale Price: $56,027

Overall Top 10 Sales:
1. 1967 Ferrari 330 P4 Replica Spider sold for $302,500
2. 1992 Dodge Viper RT/10 Roadster sold for $132,000
3. 1968 Ford Mustang Customized Fastback sold for $126,500
4. 2019 Ford Mustang Bullitt Coupe sold for $80,300
5. 1979 Porsche 911 Slant Nose Conversion Coupe sold for $73,700
6. 1941 Plymouth P12 Special Deluxe Customized Coupe sold for $72,050
7. 1963 Lancia Flaminia 3B Coupe sold for $71,500
8. 1969 Chevrolet Camaro Customized Sport Coupe sold for $71,500
9. 1956 Chevrolet 150 Customized Sedan sold for $70,400
10. 1961 Chevrolet Bel Air Customized Sport Coupe sold for $68,750