Monterey Sports & Classic Car Auction

Monterey Sports & Classic Car Auction December 2006
The Pebble Beach Weekend is one of the most exciting times for any automotive enthusiasts. Not only is there the most anticipated concours of the year, but multiple activities that lead up to that day such as historic races, five auctions, various other car shows, events, and happenings. One of those auctions was the 21st annual Monterey Sports & Classic Car Auction, which was so large that it was held on two nights. The cars were on display in downtown Monterey at the Fisherman's Warf with the auction held at the adjacent Portola Plaza Hotel and Conference Center. There were four separate catalogs to detail the over two-hundred vehicles on display and up for auction. A new record was set for the event, with combined sales totaling almost $43 million dollars for the two days.

The lobby, overflow rooms, staging area for the cars, and other rooms were filled with speakers and televisions as the auction broadcasted to hundreds of people who were not able to find a seat in the packed auction room. In the back and sides of the auction room people stood shoulder-to-shoulder. Many had come just to watch the event.

The Ferrari 412 S race car was the highlight of the event. This racer was driven by Phil Hill and Richie Ginther and powered by a V12 Type 141 engine capable of producing over 440 horsepower. Among other tasks, it was used by Steve Earl to promote the first Monterey Historic Races. The appeal of the RM Auction event can be summed up in the words of RM's founder, Rob Meyers, when he said 'The 412 S is by far, one of the most valuable automobiles in the world.' This car was expected to break the sales record that RM set in 2002 when they sold a Ferrari 330 TRi/LM for $6.5 million. Following in its wake were seven other vehicles that reached the seven figure mark and over seventy that sold for six figures or more. Only three vehicles were sold for less than ten thousand dollars. From lot number 452 through lot number 481 the bidding was six to seven figures. There were many instances throughout the night when vehicles would sell for the price of most people's homes. The pedigree and historical significance of the vehicles on sale was undeniable, a fact that was proven over and over throughout the event. Just over 22 cars of the 200+ were left unsold.

One of the ingredients that make this event so entertaining and successful is the high number of vehicles, over 65%, offered without reserve. With no reserve set, the bidders are able to make bids for the value that they place on the vehicle. Though this is often lower than the estimated value, other bidders are often kind enough to drive the price up to market value. About one-hundred vehicles were sold under the estimated value and about eighteen were sold above the estimated value. The Tucker Torpedo was estimated to sell between $700,000-$900,000; the high bid of the night for the vehicle was $577,500. The Ford Mustang 428 Cobra Jet Coupe was estimated to fetch between $175,000-$275,000 but bidding only reached $99,000. On the other hand, the Fiat 695SS Berlina was estimated to sell for $15,000-$20,000. At the conclusion of the sale the lot was sold for $30,800. The Packard Caribbean was estimated to reach, at most, $125,000 but sold for $165,000. The Duesenberg Model J with coachwork by Murphy brought in an extra $150,000 over the estimated value.

The highlight on the first night of the auction was the Shelby Cobra 289. This was one of many Shelby Cobra's offered for sale. However, CSX2473 is the most 'winningest' Cobra in history, capturing more than 30 race victories sanctioned by the SCCA. From 1980 through 1983 it won its class at the Monterey Historic Races. On auction day bidding transcended its estimated value selling for $1,237,500 including buyer's premium.

On Saturday, the first vehicle to sell for over a million dollars was the 1929 Bentley Speed Six Dual Cowl Tourer. This was followed by the Maserati MC12 which also broke the one-million dollar mark. A beautiful Ferrari 500 TRC with coachwork by Scaglietti sold for $2,282,500. There were only 17 examples of the 500 TRC ever created with most finished in two tone-paint schemes instead of the traditional Ferrari red. This example was the sixth one built and is one of the few Ferrari's to be powered by a four-cylinder engine. A 1994 McLaren F1 sold for a very impressive $1,705,000. It is street legal in 49 states and its 6.1-liter engine is capable of producing nearly 630 horsepower. It seems a shame that it had been driven less than 3300 miles since new.

Only five Aston Martin DBR1 racers were ever produced, with the fourth being a rebuild of the first prototype. These are among the most exclusive and desired vehicles from its era. In an effort to allow others the opportunity to enjoy these spectacular creations, a group of skilled craftsman has built replicas of the DBR1. Though they are built to nearly exact specification, they are not original and their price tag is far less than what an original might fetch. A replica was offered for sale at the RM Auction in Monterey where it had been expected to sell for $250,000 at most. Interest in the vehicle exceeded this estimation and the vehicle was sold for $275,000. Though it is a replica, it is still a brilliant recreation and one that can be enjoyed and admired for its beauty and mechanical prowess.

The highlight of the night was driven onto stage with its rumbling engine announcing its entrance. Bidding quickly reached the million dollar mark for the Ferrari 412S and continued to escalate. As time progressed, the number of bidders dwindled down to just two. One of the bidders was not present but making his bids via phone. This vehicle was estimated to break the 6.5 million dollar mark but at this point had slowed to around four-million dollars. The audience was in suspense; all were watching the value creep along at six figures. The auctioneer cajoled the bidders and audience that an opportunity was slowly slipping away and a vehicle of this significance should not be passed up. The two bidders pulled the value to a final selling price of $5,610,000 after fees. This was less than the expected seven million dollar mark but still an impressive sale.

The 21st annual Monterey Sports & Classic Car Auction was an opportunity to view and purchase some of the world's finest motor cars. It is an event that features sports cars, custom cars, muscle cars, brass era cars, concours winners, one-off creations, and more.

RM Auctions contributions to the automotive world are profound and much appreciated. Not only are their auctions among the finest in the industry but their RM Auto Restoration service fielded five examples to this years Pebble Beach Concours. The 1931 Daimler Double Six Roadster with one-off coachwork by Corsica was honored 'Best of Show' at this prestigious event. Their resume includes many 'Best in Class' and 'Best in Show' at the Pebble Beach Concours.

Buying, selling, or just spectating, the RM Auction is one that should not be missed.

Galleries
1911 Rolls-Royce 40/50 HP Silver Ghost  
1925 Austro-Daimler 167 ADV  
1927 Bentley 6 ½-Litre  
1930 Duesenberg Model J Murphy  
1934 Pierce Arrow Model 840A  
1936 Bugatti Type 57  
1936 Mercedes-Benz 540K  
1936 Packard Model 120  
1937 Bentley 4¼ Liter  
1937 Bugatti Type 57  
1937 Lagonda LG45 Rapide  
1937 Morris Eight  
1938 Talbot-Lago T23  
1941 Cadillac Series 62  
1941 Ford Deluxe  
1946 Chrysler Town & Country  
1948 Cadillac Saoutchik Series 62  
1948 Ford Super Deluxe V8  
1948 MG TC  
1948 Tucker 48  
1949 Buick Series 70 Roadmaster  
1951 Allard J2-X LeMans  
1951 Allard K2  
1951 Delahaye 135M  
1951 Ferrari 340 America  
1951 Ferrari Type 195 Inter  
1951 MG YA  
1951 Studebaker Commander State  
1952 Jaguar XK 120  
1952 Nash Healey LeMans  
1952 Volkswagen Barndoor Westfalia Camper  
1953 Cunningham C3  
1953 Jaguar XK120  
1953 Mercedes-Benz 300S  
1954 Buick Skylark  
1954 Packard Caribbean Custom  
1956 Mercedes-Benz 300 SL  
1957 BMW Isetta  
1957 Ferrari 250 GT Ellena  
1957 Ferrari 500 TRC  
1957 Pontiac Bonneville  
1958 Devin SS  
1958 Ferrari 412 Sport  
1959 Aston Martin DB2/4  
1959 Mercedes-Benz 300D  
1960 Porsche 356B  
1961 Alfa Romeo Giulietta Ti  
1961 Aston Martin DB4 GT Touring  
1961 Fiat Jolly 500  
1961 Jaguar MKII  
1962 Aston Martin DB4  
1962 MG MGA 1600  
1962 Sunbeam Harrington Le Mans  
1963 Ferrari 250 GT Drogo Speciale  
1964 Chevrolet Corvette Roadster Racer  
1964 Ferrari 250 GTO  
1964 Shelby Cobra 289  
1964 Shelby Cobra Dragonsnake 289  
1964 Volkswagen Microbus  
1965 Chevrolet Corvair Corsa  
1965 Dodge Coronet 440  
1965 Jaguar XKE E-Type  
1965 Pontiac Tempest LeMans  
1965 Shelby Cobra 427  
1966 Aston Martin DBR1 Alloy Replica  
1966 Jaguar XKE E-Type  
1966 Lamborghini 400 GT 2+2  
1966 Shelby Cobra 427  
1967 ASA 1000 GT  
1967 Aston Martin DB6  
1967 Chevrolet Corvette C2  
1967 Ferrari 275 GTB/4  
1967 Ferrari 330 GTC  
1967 Ford Shelby Mustang GT 350  
1967 Shelby AC Cobra 289 MKIII  
1968 Chevrolet Camaro Series  
1968 Maserati Mistral  
1968 Moretti 500  
1969 Chevrolet Corvette C3  
1969 Ford Mustang  
1969 Plymouth Road Runner  
1970 Cadillac NART  
1970 Chevrolet Camaro Trans-Am Racer  
1970 Fiat Giannini 500  
1970 Fiat Giannini Monza Spyder  
1971 Ferrari 365 Daytona  
1971 Ferrari Dino 246  
1971 Plymouth Barracuda  
1972 Dodge Challenger  
1972 Ferrari 365 GTS/4 NART  
1972 Fiat Abarth 695 SS Berlina  
1974 Chevrolet Camaro IROC Race Car  
1974 DeTomaso Pantera II  
1977 Ferrari 208 GT4 Dino  
1978 Alpine Renault A310  
1981 March 817 Can Am  
1987 Ferrari Testarossa  
1990 Porsche Ruf 911 CTR C4  
1993 Jaguar XJ220  
1996 Lamborghini Diablo SV-R  
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