Best Results at RM Sotheby’s Monterey & Upcoming Classic Cars Auctions

Tue Aug 25 2020

For their 2020 edition, the many Classic and Sport Cars events that rotate around the Monterey area at this time of the year were either postponed or shifted completely online. Gooding & Company and RM Sotheby’s were among the few brave organizers who transitioned into entirely online digital affairs - with Gooding running its event a week early and RM having closed the bidding over last week.

RM Sotheby’s Monterey annual auction had to adapt to the new challenges that Covid-19 brought up. Nonetheless, the online-only event turned out to be a resounding success proving that buyers’ appetite for Monterey-caliber cars is persistent enough to surpass all the logistical limitations. Foremost, it showed that there is an enduring interest and demand among car collectors. The LOT-ARTeam has been following the two-day sale closely and we are thrilled to share some valuable insights on the results.

RM Sotheby’s Monterey 2020 proved once again that the Italian ‘cavallino’ is among the most desirable car brands worldwide, with four out of ten top lots signed by Ferrari. Ferrari popularity in the new format does not come as a surprise, as they are often well-documented cars with a broad appeal to both young and seasoned collectors. The 2001 Ferrari 550 GT1 Prodrive sold for $4,290,000, becoming the highest-priced vehicle ever sold during an online-only car auction.

Hagerty Price Guide compared the final sale prices among Monterey 2020 auctions produced encouraging results for sellers. Among RM Sotheby’s, Gooding & Company and Bonhams sales, the median price-to-condition-appropriate-value was 5.3 percent above expectations, versus 4.4 percent in 2019. The auction results of this year compared to previous years lay in the fewer number of lots offered, as well as the resistance to selling ultra-expensive cars online - the types of cars that have historically made Monterey figures so compelling.

TOP LOTS
(Price Includes Buyer’s Premium)


2001 Ferrari 550 GT1 Prodrive

Lot 240 | 2001 Ferrari 550 GT1 Prodrive
The 2001 Ferrari 550 GT1 Prodrive is an icon of modern-era sports car racing. On the final day of the online sale, lot 240 achieved the jaw-drop price of over four million after a hard-fought bidding war. In the early 2000s, Ferrari Care Racing Development hired the famous British Prodrive Group to develop a racing version of the Ferrari 550 Maranello, with the intention of competing in the FIA GT Championship, the American Le Mans Series and Le Mans itself. The car was enlarged from 5.5 to 6.0 litres in capacity and lightened by 550 kilograms. Some 12 Ferrari 550 GT1 Prodrive race cars were built – the one sold by RM Sotheby’s is the second example made. Brilliantly conceived, this particular car did win 14 races and claim 15 poles between its racing in both the U.S. and Europe. This is a strong price which RM Sotheby's marketed well, with the sale price falling right in the middle of the pre-sale estimate range. See Price Result…


1965 Ferrari 275 GTB by Scaglietti

Lot 227 | 1965 Ferrari 275 GTB by Scaglietti
The 275 GTB is a brilliant piece of design and engineering that was built by Scaglietti with the intention of retaining the sporting characteristics of prior Ferrari race cars. Launched in 1964, the Ferrari 275 GTB was based on an evolution of the 250 GT platform, and it is one of the most desirable cars from the iconic Enzo Ferrari-era – prior to the acquisition of the Ferrari brand by Fiat. Some 442 were made in total. Optimal weight balance was achieved by Ferrari engineers by mounting the gearbox directly to the rear axle – a trick that would become a standard in many Ferrari road car models. Throughout its history, this particular car was brought to Gran Touring Classics of Long Beach, CA, and was restored according to the highest standards. Condition and provenance are the success factor of this 275, which was recently restored and certified by Ferrari Classiche, adding greatly to the appeal among show-driven collectors. See Price Result…


2014 Pagani Huayra

Lot 154 | 2014 Pagani Huayra
Horacio Pagani was an ambitious man. Inspired by the great Renaissance master Leonardo da Vinci who was capable to walk the fine line between art and engineering, Pagani sought to create its own niche within the apparently impenetrable hypercar industry through great engines and sexily designed cars. This particular Huayra is the 56th of the 100 ever built. It vaunts a twin-turbo, 730-horsepower, 6.0 litres V-12 built by Mercedes-AMG, paired with a seven-speed paddle-shift transmission. The Huayras by Pagani are among the most detailed supercars in existence. The result is something that lies somewhere between automobile and art, with only 5,500 miles on this Huayra's odometer. See Price Result…

1964 Ferrari 250 GT/L Berlinetta Lusso by Scaglietti

Lot 115 | 1964 Ferrari 250 GT/L Berlinetta Lusso by Scaglietti
The Ferrari 250 GT/L berlinetta Lusso is known simply as ‘Lusso’ (Italian for ‘Luxury’) due to its striking aesthetic appeal. The Lusso is surely one of the most successful and visually arresting grand touring cars ever built by Ferrari. This chassis 5379 was the 235th Lusso produced and is the only example ever provided in this ‘Avorio over Rosso’ colour combination. It was completed in 1964 and delivered to the Greenwich (Connecticut) dealership of Le Mans legend, privateer racing personality Luigi Chinetti. Its latest owner was Dr Raymond Boniface – eager collector of Italian machines, who had developed its passion during his youth as an American soldier in Italy during WWII. See Price Result…


1991 Ferrari F40

Lot 244 | 1991 Ferrari F40
The F40 is the first Maranello’s special anniversary model ever created. However, its importance comes from being the last Ferrari supercar ever built under the supervision of Enzo Ferrari himself. The F40 is a testament to its era both in aesthetic design and build specifications. Since its introduction to the market, it became an instant collectable and many examples to this day have experienced more display time than originally intended by ‘il commendatore’. Despite having been largely produced, the F40 model is still a highly desirable piece among collectors as the original Ferrari commemorative model and most race-engineered of them. See Price Result…


1932 Packard Deluxe Eight Individual Convertible Victoria by Dietrich

Lot 248 | 1932 Packard Deluxe Eight Individual Convertible Victoria by Dietrich
The Dietrich Individual is perhaps the most famous Packard of all time. The first one was built for a display at the Packard exhibit prepared for the ‘Century of Progress International Exposition’ in Chicago. Since then, the Packard Individual Custom became an incredibly desirable expensive car. This chassis was bought from its first owner on April 1932, from the Park Avenue Packard dealership in New York. After a long provenance history, from passionate amateurs to seasoned collectors, the car received a 22-moth-long restoration, finished in 2017. Following this meticulous refurbishment, the car has since been an award-winner in several Classic Car competitions - Morgan Adams Concours d’Elegance in 2016, Pebble Beach in 2018 and Amelia Island in 2019. See Price Result…


SELECTED UPCOMING LOTS



Jaguar - E-Typer 3.8 Convertibile I Serie Flat Floor - 1962

Jaguar - E-Typer 3.8 Convertibile I Serie Flat Floor - 1962 | Catawiki, Italy
Enzo Ferrari described it as “the most beautiful car ever built”. The Jaguar E-Type is a representation of the spider concept: sinuous, elegant, sporty, fast. A driving pleasure that has lasted for 60 years and is unparalleled. Equipped with the 3. 8 engine, this Jaguar is a 1st Series flat floor, for the flat floor at the footrest. See Auction Date & Price Estimate...


Mercedes-Benz - 190 SL - 1961

Mercedes-Benz - 190 SL - 1961 | Catawiki, Italy
Fully restored and in very good condition, both outside and inside. Odometer reading: 50 km (after the restoration) . Registered in the FIAT historic vehicles register. - Engine/mechanisms: in very good condition - Engine and mechanisms: perfectly working - Body and paint: in very good condition - Underbody: in very good condition - Paint: in very good condition. See Auction Date & Price Estimate...


Ford - Mustang GT 350 Shelby - 1968

Ford - Mustang GT 350 Shelby - 1968 | Catawiki, Netherlands
An original unrestored Ford Mustang GT350 Shelby, just 1 of the 101 Shelby cars built in the colour Lime Gold with Saddle Leather! Highlights: - at least 75% original paint - 1 of 101 in Lime Gold Saddle Leather - Signature of Carroll Shelby - Rich history - 1 owner in the last 20 years - Matching numbers - Marti report. See Auction Date & Price Estimate...


Corvette - C1 Convertible- 1961

Corvette - C1 Convertible- 1961 | Catawiki, Netherlands
An entirely body-off restored 1961 Chevrolet Corvette C1 Convertible, with photo documentation! Year of manufacture: 1961. Inspection or Dutch Periodic Vehicle Inspection: No valid Dutch periodic vehicle inspection. See Auction Date & Price Estimate...


1934 Mercedes-Benz 380 K Cabriolet B, Chassis

1934 Mercedes-Benz 380 K Cabriolet B, Chassis | Bonhams, Belgium
One of only 154 made (all body styles). Long-time owner for nearly 50 years. Introduced at the Berlin Motor Show in February 1933, the Typ 380 (W22) was powered by a straight-eight overhead-valve engine of 3.8 litres capacity, while the chassis was an all-new state-of-the art design featuring independent suspension all round: by wishbones and coil springs at the front and swing axles at the rear. As such it represented a significant advance in roadholding and handling compared with the offerings of rival manufacturers, most of which still relied on beam axles and cart springs. See Auction Date & Price Estimate...


Jaguar XK SS 3.8-Litre Re-creation, Chassis

Jaguar XK SS 3.8-Litre Re-creation, Chassis | Bonhams, Belgium
Superb alloy re-creation of legendary limited-edition Jaguar. Built in the late 1980s.
One of the rarest Jaguars of all, the XK SS was a spin-off from the D-Type racing programme. To satisfy the FIA's sports car regulations, the D-Type had been built in numbers greatly exceeding the demand for such a specialised piece of racing equipment, and conversion to road trim was viewed as the best way of clearing unsold stocks, hence the XK SS. The idea of a road-equipped D-Type is credited to Jaguar works driver Duncan Hamilton, who fitted a windscreen and hood to his ex-factory 1954 Le Mans car ('OKV 1') in 1956. See Auction Date & Price Estimate...


Buick 1925 4 Door Convertible Touring Car

Buick 1925 4 Door Convertible Touring Car | J. Garrett Auctioneers, USA
Car Has Modifications To Body, Interior And Motor. Available For Full Inspection During Preview And Mechanics Welcome To Assess. See Auction Date & Price Estimate...


1962 Rolls-Royce Phantom V limousine James Young

1962 Rolls-Royce Phantom V limousine James Young | Artcurial, France
Rare model, especially the James Young version. Untouched original condition. What stands out on this car is the highly luxurious level of finish, particularly in the rear passenger compartment. The sumptuous beige leather seats are surrounded by an array of special features for its passengers including curtains, mirrors, compact lights, ash-trays, cigar lighters and pockets, as well as individual controls for the radio, heating, air-conditioning and electric windows. See Auction Date & Price Estimate...


1956 Austin-Healey 100 (BN2) roadster

1956 Austin-Healey 100 (BN2) roadster | Artcurial, France
Part of the collection since 1976. Sought-after BN2 version with four-speed gearbox. Rare LHD model. No reserve. The model presented was purchased in 1976 and restored more recently, having been sold new in France. It is a BN2 (and not BN1, as is erroneously indicated on the registration certificate), one of the most sought-after versions: its 2.6-litre four-cylinder engine is mated to a four-speed gearbox with overdrive. A lightweight car, the BN2 comes across as a radical roadster, with a fold-down windscreen, while its doors lack both wind-up windows and external door handles. In this instance, the car is fitted with a hood but no side screens. The body has been recently repainted and the interior is well preserved. See Auction Date & Price Estimate...


2008 Mercedes-Benz SLR McLaren 722 GT

2008 Mercedes-Benz SLR McLaren 722 GT | Dorotheum, Austria
A thoroughbred sports racing car. One of only twelve SLR 722 GTs actually built. Developed and constructed by Ray Mallock Limited. Shipped to the Croatian Mercedes-Benz distributor Euroline. Two-time winner at Spa-Francorchamps. In January 1999, at the North American International Auto Show in Detroit, Mercedes-Benz surprised everyone with a concept car named Vision SLR. This was how the ‘Silver Arrows’ of the twenty-first century were to look like, and therefore the car had been given the awe-inspiring name of that very ancestor thanks to whom Mercedes had beaten its rivals in all disciplines almost fifty years earlier. See Auction Date & Price Estimate...


2006 Dodge Viper SRT-10

2006 Dodge Viper SRT-10 | Dorotheum, Austria
In 2003, Dodge, then under the guardianship of Daimler-Chrysler, introduced the new Viper, more than ten years after it was first used to scare the car world. The name SRT-10 was the abbreviation of Street and Racing Technology and the number of cylinders. As with its predecessor, all competitions were easily and loosely topped with brutal parameters: 8.3 liters of displacement, 10 cylinders, over 700 Nm of torque and a top speed of over 300 km/h. The task of the car was simply outlined. It should be highly emotional and avoid any discussions about it in advance. Questions about meaning and reason were and remain superfluous. See Auction Date & Price Estimate...

MG Midget 1972

MG Midget 1972 | South Dublin Auction, Ireland
60k miles, 1.3L petrol. Rare round wheel-arch Midget, completely stripped down and re-built after many man hours. See Auction Date & Price Estimate...



LOT-ART SERVICES FOR COLLECTORS


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