Auction season is running at full speed going into Monterey Car Week this August 11-20. (Yes, a 10-day week!) Five major auctions will take place there, drawing buyers and sellers from around the world. Plan to be there? Whether you’re looking for your next dream car or planning to sell one from your collection, it pays to be prepared. Premier Financial Services has put together a quick refresher course with insights from auction and sales pros offering advice on finding the car you want and bringing it home.
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.
Auction sales from Monterey Car Week totaled a record-setting $469 million; more than $126 million than last year’s total. RM Sotheby’s three-night auction accounted for more than half of that total, setting a record with a staggering $239.2 million in sales. Catch up on results from all the auction houses.
“The Amelia” may have dropped “Island” from its name, but this year’s event will be special, now under the Hagerty umbrella of automotive assets. Read our detailed description of what’s scheduled, whether you’re attending in person or virtually.
This all-wheel drive unicorn was built to race…but never allowed to. This 1991 Porsche 911 Carrera 4 Lightweight, up for auction by RM Sotheby’s at Amelia Island in March, has a pre-sale estimate of $700k – $900k. Read the story of this uber-rare car.
Met Dave Magers: CEO of Mecum Auctions. Dave has served as chief executive officer of Mecum Auctions since 2013. Having always been a “car guy,” Dave brings a wealth of valuable knowledge and experience into the Mecum mix with more than 40 years of experience in the business and financial sector.
Gooding and Company Monterey addition has many great cars on display, including Lamborghinis, Ferraris, Mercedes-Benzs, Bentleys, Porshces, and Maseratis. See which ones are our favorites.
Most collector-car auction houses already offered absentee bidding options and live streaming auctions as part of regular operations, the safety and travel restrictions posed by COVID-19 spurred the industry to apply creative solutions. Learn more about Mecum, Gooding & Company, Bonhams and more are operating their summer auctions.