Auction Express: $17.6 million Ferrari tops Monterey week

RM Ferrari

A 1964 Ferrari 250 LM from the Pinnacle Portfolio garnered $17.6 million at the RM Sotheby’s Monterey sale and was the high-selling car during the big Monterey auction week. (Patrick Ernzen ©2015 Courtesy of RM Sotheby’s)

RM Sotheby’s sets new high-water mark
at three-day Monterey sale
RM Sotheby’s generated a new company record of $172.9 million in auction and post-auction private sales during its three-day Monterey event in California. The total bested the company’s 2014 Monterey performance by more than 20 percent, according to RM Sotheby’s.
“We’ve certainly reached new heights with this year’s Monterey sale, setting multiple new benchmarks,” said Ian Kelleher, managing director of RM Sotheby’s West Coast Division. “³The results truly speak for themselves and reflect our commitment to bringing not only the best to the market, but backing our product by extensive research and documentation.”
RM’s Monterey sale was extended to three days in 2015, with the auction room attracting a standing-room-only audience across all sessions. In all, 36 lots achieved individual million-dollar-plus results, with four lots exceeding $10 million. The top seller was a 1964 Ferrari 250 LM from the Pinnacle Portfolio, which garnered $17,600,000.
Offered on Thursday evening, the Pinnacle Portfolio featured­ an extraordinary private collection of 25 postwar sports cars. When all were sold, the collection had brought $75.4 million in auction and post-auction private sales.
Also headlining this group was the iconic 1998 McLaren F1 “LM-Specification,” which sold for $13,750,000. A 2005 Ferrari Enzo, originally gifted by the factory to Pope John Paul II, finished at $6,050,000. Additional highlights included a 1994 Ferrari F40 LM for a record $3,300,000; a 2005 Mercedes-Benz SLR McLaren for $495,000; and a 2005 Saleen Twin Turbo for $682,000.
RM Sotheby’s continues its auction schedule on Sept. 7 in London during its annual sale at Battersea Evolution held in partnership with the UK’s Concours of Elegance.
For more information, visit www.rmsothebys.com.

Mecum Daytime Auction In Monterey Exceeds $44 Million
The Mecum Daytime Auction in Monterey Aug. 13-15 brought $44,335,001 in total sales as 387 vehicles changed hands in three days of auction action. The sale was headlined by the multimillion-dollar sales of a 1969 Lamborghini Miura P400 S (Lot S66) and a 1970 Plymouth Hemi ’Cuda convertible (Lot F69); a total of seven cars sold for $1 million or higher during the auction.
“The level of quality offerings at the Daytime Auction continues to increase year after year, and 2015 was no exception,” said Dana Mecum, president and founder of Mecum Auctions. “We are looking forward to raising the bar once again in 2016.”
A 1969 Lamborghini Miura commanded a high bid of $2.3 million. A 1970 Plymouth Hemi ’Cuda, which served as the demonstrator for its designer John Herlitz when new, earned a hammer price of $2.25 million.

Mecum-Hemi-Cuda

A 1970 Hemi ’Cuda convertible brought $2.25 million at the Mecum Daytime Auction in Monterey. (Mecum photo)

The much-heralded Turbo Carrera Porsche (Lot S71) originally special ordered by Steve McQueen commanded $1.95 million.
A low-mileage Corvette collection hailing from the garages of Ed Foss did extremely well with 21 of 26 hammering sold. The top sale from this collection was achieved by an unrestored 2,299-mile 1956 convertible, which fetched a high bid of $275,000. The group overall brought $2,563,500 in sales.
Other top sellers included:
— 1976 Porsche 930 Turbo Carrera, $1,950,000;
— 2005 Maserati MC12, $1,575,000;
— 1989 Ferrari F40, $1,150,000;
— 1963 Shelby 289 Cobra roadster, $1,000,000;
— 2005 Porsche Carrera GT, $1,000,000;
— 1967 Shelby 427 Cobra roadster,  $950,000;
— 1967 Toyota 2000GT, $925,000;
— 2005 Porsche Carrera GT, $775,000.
Mecum’s next classic and collector car auction will be a 1,000-car offering in Dallas at the Kay Bailey Hutchison Convention Center on Sept. 16-19. For details, visit www.mecum.com or call 262-275-5050.

Gooding banks $128 million in two days at Pebble Beach
Gooding & Company realized more than $128 million at its Pebble Beach Auctions with an 89 percent sell-through rate and the company’s highest-ever average price of $1,113,896 per car. Twenty-six cars sold for more than the $1 million mark, including three vehicles at more than $10 million.
Topping the list was a 1961 Ferrari 250 GT SWB California Spider at $16,830,000. It was followed by a 1962 Ferrari 250 GT SWB Berlinetta Speciale at $16,500,000; Le Mans-winning 1982 Porsche 956, $10,120,000; 1960 Porsche RS60, $5,400,000; 1957 Ferrari 410 Superamerica Series II Coupe,  $5,087,500; and a 1988 Porsche 959 Komfort, $1,732,500.
David Gooding, President of Gooding & Company: “Our clients understand we selectively consign vehicles of quality and provenance, which is why we consistently have one of the highest sell-through percentages and prices realized in the industry,” said David Gooding, company president. “To hit $128 million in just two days with just 129 cars is a real achievement.”
Overall, Ferraris had the strongest showing, including Nuccio Bertone’s own 1962 Ferrari 250 GT SWB Berlinetta Speciale, $16,500,000; 1957 Ferrari 410 Superamerica Series II Coupe,  $5,087,500; 1967 Ferrari 275 GTB/4, $3,877,500; 1965 Ferrari 500 Superfast, $3,025,000; 1966 Ferrari 206 S Dino Spider, $2,310,000; 1965 Ferrari 275 GTS, $1,925,000; 1961 Ferrari 250 GT Series II Cabriolet, $1,842,500; and 1992 Ferrari F40, $1,375,000.
Gooding & Company’s 2016 Scottsdale Auction is scheduled for Jan. 29-30.

Shelby GT-350 leads the way at
Russo and Steele Monterey sale
Russo and Steele’s 2015 Monterey auction rang up total sales of $10,188,258, including $313,500 for a 1966 Shelby GT-350 at $313,500.
Other highlights included:
— 1977 Porsche 930 Turbo, $214,500;
— 1984 Porsche 930 Turbo, $95,700;
— 1971 Mercedes-Benz 280 SE 3.5 Cabriolet, $440,000;
— 1966 Ferrari 330 GT 2+2,  $404,250;
— 2005 Porsche Carrera GT,  $781,000;
— 1958 Dual-Ghia convertible, $412,500;
— 1972 Ferrari 365 GTC/4, $330,000;
— 1990 Lamborghini LM002 “American,” $300,000;
— 1959 Porsche 356 T2 “Factory Hardtop,” $245,000;
— 1992 Ferrari 512 TR, $195,250;
— 1967 Sunbeam Tiger MKII, $181,500.
The company’s next sale will be in Scottsdale, to be held Jan. 27–31, 2016. Go to russoandsteele.com to learn more.

Exotics dominate Bonhams’ Quail Lodge sale
More than 100 cars crossed the block at Bonhams’ annual Quail Lodge auction in Carmel on Aug. 14, resulting in a 90 percent sell-through rate and a $46,738,000 total.
While exquisite automobiles from every period of motoring were represented, it was the Italian cars from Maranello that took top placement.
The race-winning 1959 Ferrari 250 GT Competizione Alloy Berlinetta was the star of the auction when it achieved $8,525,000. A 1971 Ferrari 365 GTS/4 Daytona Spider was next at $2,640,000, followed by a 1985 Ferrari 288 GTO coupe at $2,365,000.
A Pebble Beach class-winning 1951 Ferrari 212 Inter Cabriolet brought $2,200,000. Other highlights included  a 1955 Lancia Aurelia B24 Spider that sold for $1,952,500 and a 1953 Fiat 8V Ghia Supersonic ­at $1,815,000.
“We’re very pleased with our results,” said James Knight, Bonhams Group Motoring director. “Our strong sell-through rate, the numerous records achieved and the increased interest from worldwide bidders, not just from America and Europe, but from Asia and the Middle East as well,­ demonstrate the continued strength of the collector car market and demand for the finest examples.”
For more information, visit bonhams.com/motorcars.

 

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