What does $400 million buy today? It was enough to take home about 1,200 of the world’s finest collector cars offered at the 2023 Monterey auctions held from August 17-19. That was down from $475M in 2022, and the sell-through rate was lower, too. Just the same, some stellar automobiles traded hands in Monterey at auctions held by Bonhams, Broad Arrow, Gooding & Company, Mecum, and RM Sotheby’s. The top sale was a 1967 Ferrari 412P racecar for $30.2M at Bonhams, while a 1957 Jaguar XKSS, one of just 16 made, was #2 at just over $13M.
If you’re heading to Monterey Car Week in August, consider Concorso Italiano a must-see event Saturday, August 19 on the fairways of the Bayonet Golf Course in Seaside, California. This unique show displays nearly 700 cars and motorcycles, covering the gamut of 10 different marques. Alfa Romeo, Ferrari, and Lamborghini dominate in sheer numbers, while other Italian classics, exotics, and obscure models offer many more compelling treats to see. The atmosphere is casual-festival, with an emphasis on fun.
You can’t get a manual transmission from Ferrari or Lamborghini today, but collectors are willing to pay hefty premiums for their last stick-shift models. This trend specifically applies to the cars that offered the choice between the real manual and the “robotized” manual, which Ferrari called F1 and Lamborghini called E-Gear. Today, a Ferrari F430 with the stick-shift can command a 100% premium over the F1 model. Some independent shops are even providing conversions back to full manual transmissions. Is that a wise purchase?
Is there a hotter rivalry in the premium car arena than Ferrari v Lamborghini? Buckle up, it’s only going to get hotter as this decade unfolds. Hot on the trail of its Purosangue, Ferrari unveiled the new Roma Spider. This stunning soft-top will replace the Portofino M in the line. Meanwhile, Lamborghini has unveiled the chassis and powertrain for its upcoming 1,000-horsepower hyper hybrid and confirmed plans for two more hybrids and then two battery EVs. Never a dull moment with these two Italian supercar superpowers.
Would you recognize this car as a Lamborghini? It’s the Islero, and it’s rare with just 225 made for 1968-1969. Named for the bull that killed one of Spain’s most famous bullfighters, the Islero packed the punch of a six-carburetor V-12 that could take it to 150 mph. The Islero’s modernistic look presaged the angular style would define exotic car design in the Seventies. Gooding & Company will offer this restored black 1968 Lamborghini Islero at its Amelia Island auction, where it is estimated to sell for up to $500,000.
The 2023 collector car auction season got off to a roaring start in January. The Bonhams Scottsdale auction reached $30M in sales, and RM Sotheby’s reported $44M. The big surprise came from Bonhams, where a 1912 Simplex brought $4.8M, a record for a pre-WWI car. Supercars were still supreme, though, with a Ferrari LaFerrari getting $4.075M at RM Sotheby’s and, earlier in the month, a Ferrari F40 topping the Mecum sale in Kissimmee, Florida at $3.135M.
Since taking the reins as Executive Director of the Petersen Automotive Museum, Terry Karges has changed its business model, created “must see” exhibits, and delivered profitability to the organization. Terry was raised in the California car culture, and is a well-known figure in the automotive industry. He has great stories to tell about his life, and shares insights into what makes the Museum such a great institution.
The Ferrari-Maserati divorce has put the Italian supercar universe back in order, with Maserati emerging with its strongest model line since the 1960s. The newest models include the MC-20 supercar, a high-performance Grecale SUV, and the GranTurismo. The gas-fueled Maserati GranTurismo arrives in spring, with an electric version coming in late 2023. Sources suggest a $170,000 starting price.
RM Sotheby’s Announces new client financing partnership with leading specialist 1st Financial Bank USA / Premier Financial Services, LLC
