If you plan to be in New York City on November 13 and have easy access to about $60 million, why not take a chance bidding on a one-of-one Ferrari? The RM Sotheby’s Modern and Contemporary Art auction will offer a 1962 Ferrari 250 GTO that’s also known as the 330 LM. The car was built to suit a new race class at the time, which allowed replacing the 25 GTO’s 3.0-liter V12 with a more powerful 4.0-liter. Ferrari kept this special GTO for its own Scuderia Ferrari race team. Will this car surpass the reported $70 million a private collector paid for a 250 GTO in 2018? We shall see on November 13.
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.
Forget March Madness, Florida brought the heat to the collector car world with the quartet of Amelia Island auctions booking $186 million in sales, a record for the venue. The top sale, a 1962 Ferrari 250 GT California Spider, accounted for $18M by itself. Ferraris grabbed 13 slots across the four auctions’ Top-10 lists, and Porsches took four. Modern supercars made some auction Top-10 lists, including $5.3M for a rare Pagani Zonda and $2.4M for a McLaren P1. A 1931 Duesenberg put the spotlight on Pre-war cars with a $4.3M sale.
The letters on your modern car’s trunk lid might have no real meaning, but the “S” on the back of a classic Porsche 911 signified a major performance upgrade over the standard car. Porsche’s marketing for the original 911S cautioned, “This is no car for a novice.” The 911S rewarded skilled drivers while being known to put a scare into those unfamiliar with its handling traits. RM Sotheby’s is offering a rare concours-restored 1968 911S at no reserve at its Amelia Island auction in March. Expect hot bidding.
The legendary Jaguar XK-120, first introduced in 1949, has played an important role in sports car lineage, both in terms of styling and performance. A very early alloy-body XK-120 (chassis number 670019), will be offered at Gooding & Company’s Pebble Beach auction, with a pre-sale estimate of $250K-$300K.
By all accounts, the auctions at The Amelia — now under the ownership of Hagerty — were a grand success, with the sales from RM Sotheby’s, Bonhams and Gooding & Company totaling nearly $126M. Notably, a 1937 Talbot Lago set a world record price for the marque and for French cars at $13,425,000
Here are our “Cars to Watch” for the Bonhams auction at Amelia Island, which features more than 80 automotive offerings, plus a diverse assemblage of memorabilia and collectibles and 50 vintage motorcycles.
A few Scottscale Auction highlights: a record $6.8 million for a 1955 alloy-body Mecedes-Benz 300 SL Gullwing; a $335,000 sale of the 1949 “Rain Man” Buick Roadmaster convertible; and $775,000 for a rebuilt Duesenberg Model J engine – yes, just the engine. Read all the highlights here
Premier’s range of picks at the 2022 Bonhams Scottsdale Auction covers nearly every type of dream car…from a Lamborghini Countach, to an Aston Martin DB4 Series II, to a Jaguar XKE Series I, and a Shelby GT500KR Fastback. If there’s a Bonhams car that suits your taste, we’re happy to prepare you with the financing to bid with confidence.
