Top 5 Most Expensive Cars Sold in Pebble Beach This Week

1995 McLaren F1

Photo: Mike Maez | Gooding & Co.

The Super Bowl of collecting super-rich cars kicks off this week in Monterey, California as more than $ 300 million worth of rolling trophies come up for auction.

After an unexpected spike in classic car sales and prices during the coronavirus pandemic, the Monterey Car Week and Pebble Beach Concours d’Elegance are the biggest test of demand for the most expensive classic cars. Persistent health concerns about Covid and a shortage of international buyers will also cast a shadow over an event that typically brings together tens of thousands of wealthy car enthusiasts for parties, launch events, races and auctions.

So far, however, sales and auctions are developing to be some of the strongest there has ever been.

“There is a lot of catching up to do,” said McKeel Hagerty, CEO of Hagerty, the classic car insurance and collector services company. “This week could be extraordinary.”

More than 1,000 vehicles are expected to be auctioned this week, according to Hagerty. Total sales are expected to reach $ 325 million – a 28% increase from 2019, the final year of sales after the event was canceled last year due to Covid. Monterey is known for having the most expensive and expensive cars, and at least 115 vehicles are expected this year, grossing $ 1 million or more.

All of the major auto auction firms – from Gooding & Co. to RM Sotheby’s, Mecum and Bonhams – hold some of their finest collections and most valuable automobiles for the extremely wealthy Monterey public. Mecum has “The Big Al Collection” this year, a fleet of more than 80 cars that includes everything from Corvettes and Camaros to a seven-digit LaFerrari and rare Porsches.

Dave Magers, CEO of Mecum, said the company is seeing the strongest demand in its history, with much of it coming from new collectors who started looking up vintage cars online during the pandemic and are now bidding online. Mecum’s sell-through rate, or the percentage of cars that come up for auction and actually sold, is around 85% this year – much higher than the historical average.

“When the sell-through rate goes up, prices go up,” he said. “Everything is saved.”

Gooding sells the collection of the late rock star Neil Peart, famous drummer and lyricist for the band Rush. The collection includes a 1964 Aston Martin DB5 (made by James Bond) that is expected to fetch up to $ 725,000, a 1964 Shelby Cobra 289 that is expected to exceed $ 1 million, and a 1970 Lamborghini Miura that is sold for $ 1.5 million could be sold.

“Buyers are not hesitating now,” said Gooding CEO David Gooding. “If you want something, do it. It’s an attitude of, ‘Things are uncertain, I won’t wait.'”

Here are the top 5 cars by estimated retail price that Hagerty says will be up for auction this week.

1995 McLaren F1

1995 McLaren F1

Photo: Mike Maez | Gooding & Co.

Gooding & Co. estimates $ 21.5 million.

Jay Leno once called the McLaren F1 the best four-wheel investment he has ever made. McLaren only built 106 F1 and originally cost less than $ 900,000. Today, F1s often trade for more than $ 20 million. Known as the “Formula 1 Car for the Road,” the F1 is often credited with reinvigorating the McLaren sports car brand and ushering in the modern supercar era with highly specialized vehicles designed to dominate the racetrack and the road, with a top speed of 240 Miles per hour.

The F1 sold by Gooding is particularly valued for being less than 250 miles, making it what many refer to as a “one-off time capsule car”. Painted in an eye-catching “Creighton Brown”, it has been looked after and carefully looked after by a Japanese collector since it was purchased. “This is fresh on the market, never seen before,” said Gooding.

1970 Porsche 917 K.

1970 Porsche 917 K.

Source: RM Sotheby’s

RM Sotheby’s is valued at $ 15 million.

The Porsche 917 K was a legend in racing, and the car sold by RM Sotheby’s has special star power as the winning car in Steve McQueen’s classic film “Le Mans”. It was rebuilt in the Porsche factory in 1971 and drove another two years on the racetrack and the next two decades at historical events.

Another Porsche 917 K, which also appeared in “Le Mans”, was sold by Gooding in Pebble Beach in 2017 for $ 14 million.

1962 Aston Martin DB4 GT Zagato

1962 Aston Martin DB4GT Zagat

Source: RM Sotheby’s

RM Sotheby’s is valued at $ 11 million.

In 1962, Aston Martin built the ultimate DB4 for both the road and the racetrack, the DB4 GT Zagato. Only 19 were ever built, so they rarely come up for sale. The car sold by RM Sotheby’s belonged to the late car collector Paul Andrews and has the original engine.

1959 Ferrari 250 California LWB Spider Competizione

1959 Ferrari 250 GT LWB California Spider Competizione

Source: Gooding & Co.

Gooding & Co. estimates are between $ 10 million and $ 12 million.

The Ferrari 250 GT California Spider is part of the premier class of car collecting – famous for its timeless style, rarity and performance on the racetrack. Or as Ferris Bueller famously described his joy ride for the day: “It’s such a choice.” Ferrari only made 106 Cal Spiders, which is one reason they traded for more than $ 18 million.

The car sold by Gooding is more geared towards racing, hence the “competizione” badge. Ferrari made only 50 of the long wheelbase variants of the Cal Spider, and only 10 of those were factory prepped for competition, making it one of the rarest of the rare Cal Spiders. This particular car was built for the amateur racing driver Dott. Ottavio Randaccio, who drove it in several Italian circuit races and hill climbs. With its Italian-colored paintwork and meticulous restoration, the car could easily exceed its estimate.

1998 Mercedes-Benz AMG CLK GTR

1998 Mercedes-Benz AMG CLK GTR

Photo: Josh Hway | Gooding & Co.

Gooding & Co. estimate $ 8.5 million.

As part of its racing program, AMG developed the CLK GTR, which won the FIA ​​GT championship in 1997 and dominated the track in 1998. In order to comply with the racing rules, AMG had to build 25 street-legal CLK GTRs, which make them the rarest in the world. The car sold by Gooding is the ninth of the 25 cars built and has less than 900 miles on the clock. The car is powered by a 6.9 liter V-12 that develops 604 horsepower and has a top speed of 214 mph. And of course painted in the typical Mercedes silver racing color.