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The $ 20.46 million McLaren F1 sets new standards and is a good indicator that 2021 could be a record year for classic car auctions
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McLaren-F1-record-sale-GoodingCo-2021-2.jpg?quality=90&strip=all&w=576 2x" width="1800"/>A 1995 McLaren F1 sold for a record $ 20.46 million at Gooding & Co.’s Monterey auction in 2021 Photo by Gooding & Co.
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The five simultaneous auctions during Monterey Auction Week and the Pebble Beach Concours d’Elegance achieved total sales of 343 million US dollars over three days, 37 percent more than 2019 sales, even though 25 percent fewer cars were sold.
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Mecum, Russo and Steele, Bonhams, Gooding & Company and RM Sotheby’s made their home runs with the collector cars crossing the block, with a record of over million vehicles sold at the live auctions. The sell-through rate declined from 59 percent in 2019; to 80 percent, with an average retail price of $ 428,000 compared to $ 334,000 in 2019.
The need to catch up, the cancellation of last year’s auctions and a return of the masses contributed to a high level of interest and high prices.
Collector car market watchers are finding that a rising tide is causing all boats to float, and so is collector car market, with all sectors seeing strong sales and prices. Hagerty Insurance predicts 2021 will be the best auction year ever.
The Monterey auctions marked a high point for vintage Ferraris, Ford GT models, supercars and rarely seen exotic cars.
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Best sellers (all prices in US dollars) included a 1995 McLaren F1 Coupe, which set a record for the model in Gooding & Company sales for $ 20,465,000; a 1959 Ferrari 250 California LWB Competizione Spider, sold through Gooding & Company for $ 10,840,000; a 1962 Aston Martin DB4 GT Zagato Coupe that traded at the RM Sotheby’s event for $ 9,520,000; a 1962 Ferrari 268 SP Spider that Ontario-headquartered RM sold for $ 7,705,000; and a 1966 Ferrari 275 GTB Long Nose Alloy Coupe that grossed $ 7,705,000 at RM Sotheby’s.
The top 10 were rounded off by a 1958 Ferrari 250 GT TdF Coupe ($ 6,000,000 at RM Sotheby’s); a 1929 Bugatti Type 35B Grand Prix Roadster ($ 5,615,000, Gooding & Company); a 1928 Mercedes-Benz 26/120/180 S Type Sports Tourer ($ 5,395,000, Bonhams); 1958 Ferrari 250 GT Cabriolet SI ($ 4,405,000, Gooding & Company); and a 1963 Shelby Cobra 289 R&P Roadster ($ 4,130,000 at RM Sotheby’s).
Japanese collectibles also saw strong gains, led by a 2012 Lexus LFA Nürburgring that sold for $ 1.6 million, a record for a Japanese street car at auction, and nearly double previous ratings.
The post Rapid sales at auction week in Monterey show growth in classic cars first appeared on monter-une-startup.
