By Colin Wood
Aug 20, 2022
|
Monterey,
Mecum,
RM Sotheby's,
Monterey Car Week,
Hagerty,
Auction,
Broad Arrow
Photography by Tim and Tom Suddard
How are things looking in Monterey so far? Hagerty's regular recap provides the elevator speech:
Monterey Car Week Auction Summary
Main themes:Highlights:
- Bidders showed enthusiasm across multiple price ranges and segments, apparently shaking off concerns about the economy.
- The Masterworks of Design collection at RM Sotheby’s scored big with eight of ten Mercedes-Benz 500Ks and 540K selling; the highest price at $9.9M for the 1937 Mercedes-Benz 540K Special Roadster originally delivered to King Mohammed Zahir, Shah of Afghanistan.
- Analog supercars continue their hot streak: Broad Arrow set a record for the Ferrari F50 at $5,175,000; four of their top 10 were analog supercars.
This year’s Monterey auctions pits a year-to-date, red-hot collector car market against a cooling global economy. Through day one, at least, it appears buyers are focusing on the former and/or are unfazed by the latter. RM Sotheby’s, Mecum, and newcomer Broad Arrow* combined to sell 227 cars for $89.1 million, and multiple cars achieved world record prices.
- Sean Connery ownership potentially adds $1.2M to the value of a DB5; Broad Arrow sold Sean Connery’s 1964 Aston Martin DB5 at $2,425,000, a 94% premium over a standard #1 car
- 1924 Hispano-Suiza H6C "Tulipwood" Torpedo by Nieuport-Astra sold at RM Sotheby’s for $9,245,000
- For more auction coverage, head over to insider.hagerty.com
* Hagerty has entered into a definitive agreement to acquire Broad Arrow Group. You can read more about it here.
Monterey Car Week Auctions
19 August 2022 (Results through 18 August 2022)
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 Thursday from all auction companies
Cumulative Total: $89.1M
227/333 lots sold: 68% sell-through rate
Average Sale Price: $392,619
2021 Cumulative Results through Thursday
(RM Sotheby's and Mecum)
Cumulative Total: $38.3M
153/205 lots sold: 75% sell-through rate
Average Sale Price: $250,244
Overall Top 5 Sales from all auctions through Thursday:
- 1937 Mercedes-Benz 540K Sindelfingen Roadster sold for $9,905,000 (RM Sotheby's)
- 1924 Hispano-Suiza H6C Transformable Torpedo sold for $9,245,000 (RM Sotheby's)
- 1995 Ferrari F50 Coupe sold for $5,175,000 (Broad Arrow Auctions)
- 2015 Ferrari LaFerrari Coupe sold for $3,910,000 (Broad Arrow Auctions)
- 2019 Koenigsegg Regera Targa sold for $3,855,000 (Broad Arrow Auctions)
BROAD ARROW AUCTIONS
Cumulative Total through Thursday: $47.6M
66/90 lots sold: 73% sell-through rate
Average Sale Price: $720,500
Overall Top 5 Sales:
- 1995 Ferrari F50 Coupe sold for $5,175,000
- 2015 Ferrari LaFerrari Coupe sold for $3,910,000
- 2019 Koenigsegg Regera Targa sold for $3,855,000
- 1971 Mercedes-Benz 600 Pullman Limousine Landaulet sold for $2,590,000
- 1964 Aston Martin DB5 Saloon sold for $2,425,000
RM SOTHEBY'S
Cumulative Total through Thursday: $38.1M
39/46 lots sold: 85% sell-through rate
Average Sale Price: $977,482
Overall Top 5 Sales:
- 1937 Mercedes-Benz 540K Sindelfingen Roadster sold for $9,905,000
- 1924 Hispano-Suiza H6C Transformable Torpedo sold for $9,245,000
- 1936 Mercedes-Benz 540K Sindelfingen Cabriolet A sold for $1,875,000
- 1939 Mercedes-Benz 540K Sindelfingen Special Cabriolet A sold for $1,765,000
- 1935 Mercedes-Benz 500K Cabriolet by Saoutchik sold for $1,710,000
2021 Cumulative Results
Cumulative Total through Thursday: $34.4M
25/26 lots sold: 96% sell-through rate
Average Sale Price: $1,377,560
MECUM
Cumulative Total through Thursday: $3.4M
122/197 lots sold: 62% sell-through rate
Average Sale Price: $28,277
Overall Top 5 Sales:
- 1937 Ford Model 78 Custom Woody Wagon sold for $115,500
- 2021 Chevrolet Silverado Hennesey Goliath 650 Hennesey Goliath 650 Pickup sold for $99,000
- 1965 Chevrolet Corvette Convertible sold for $99,000
- 1997 Land Rover Defender 90 (Truck) Wagon 4x4 sold for $92,400
- 1959 Chevrolet Impala Sport Coupe sold for $79,200
2021 Cumulative Results
Cumulative Total through Thursday: $3.8M
128/179 lots sold: 72% sell-through rate
Average Sale Price: $30,065
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