Auctions: 2022 Monterey Sales Take In $469 Million

Classic-car buyers left $469M behind at Monterey’s auto auction this past weekend, setting a record for these sales and blowing past the $343M dropped last year. RM Sotheby’s three-night auction accounted for more than half of that total, setting a record with a staggering $239.2M sale. Nine of the top-10 sales for the weekend were from RM Sotheby’s, with the 1955 Ferrari 410 Sport Spider topping the weekend at $22M.

Gooding & Company brought in $109.5M, with its top sale, a 1937 Bugatti Type 57 Atalante Coupe, accounting for a tenth of that. Newcomer Broad Arrow Auctions, now a part of Hagerty, sold all but five of its 93 lots for $55.2M, with its top car, a 1957 Ferrari 250 GT Tour de France, bringing 10 percent of the total. Bonhams added about $30M to the weekend tally, showing a 95-percent sell-through. Mecum accounted for most of the rest.

Black 1937 Bugatti Type 57 Atalante Coupe front right view — *1937 Bugatti Type 57 Atalante Coupe sold for $10.345M at Gooding & Company. (Source: Gooding & Company)*

Supercars, Mid-Century and Pre-War All Shined

All told, 112 cars sold for $1M or more, which was a record for the Monterey sales. Modern supercars were hot. Broad Arrow Auctions sold a 1995 Ferrari F50 for a record $5.175M and a La Ferrari for $3.91M. Gooding & Co. sold the ex-Mike Tyson Ferrari F50, one of Premier’s Cars to Watch, for $4.625M. Just two steps below on Gooding’s top-10, a Ferrari Enzo brought $4.13M. A Premier Monterey preview car, the one-of-20 Lamborghini Reventon sold for just under $2M at RM Sotheby’s, which was the top of its estimate. At the Bonhams Quail auction, a 1995 Porsche 911 GT2 sold for $1.545M.

Pre-war cars also showed strength, taking the second, third, fourth and ninth slots on the top-10 weekend sales list attest (see below). The 1937 Mercedes-Benz 540K Sindelfingen Roadster that RM Sotheby’s sold for $9.9M was a on Premier’s Cars to Watch list. Gooding & Company sold a 1930 Cadillac Series 452 V-16 Roadster for $1.655M.

Bonhams, always reliable for pre-war greats, sold a 1931 Stutz DV-32 Convertible Victoria, with one-off coachwork by LeBaron, for $1.435M. The 1926 Rolls-Royce Silver Ghost Piccadilly Bonhams sold for $1.435M, doubling its estimate. Mecum had two pre-war greats in its Top-10, a 1931 Marmon Sixteen and a 1936 Duesenberg Model J Rollston Convertible Berline.

It’s also worth pointing out that a 1932 Duesenberg Model J Figoni Sports Torpedo took top honors in the Pebble Beach Concours d’ Elegance.

In between the pre-war cars and supercars, there were plenty of Fifties and Sixties gems to go around. Ferraris of this period accounted for six of Monterey’s top-10, including, of course, the top sale.

Ross Rm 2008 Lamborghini Reventon — *2008 Lamborghini Reventon on Premier Cars to Watch list sold for $1.952M at RM Sotheby’s. (Source: RM Sotheby’s.)*

MONTEREY AUCTIONS: Top-10 Sales

1955 Ferrari 410 Sport Spider: $22M (RM Sotheby’s)
1937 Bugatti Type 57 Atalante Coupe: $10.345M (Gooding & Company)
1937 Mercedes-Benz 540K Special Roadster: $9.9M (RM Sotheby’s)
1924 Hispano-Suiza H6C Transformable Torpedo: $9.245M (RM Sotheby’s)
1957 Ferrari 500 TRC Spider: $7.815M. (RM Sotheby’s)
1966 Ferrari 275 GTB/C Coupe: $7.595M (RM Sotheby’s)
1954 Ferrari 375 America Vignale Cabriolet: $7.595M (RM Sotheby’s)
1953 Ferrari 375 MM Spider: $7.485M (RM Sotheby’s)
1938 Talbot-Lago T150-C SS Teardrop Coupe: $7.265M (RM Sotheby’s)
1958 Ferrari 250 GT Cabriolet: $6.825M (RM Sotheby’s)

Red 1955 Ferrari 410 Sport Spider front left view — *Top sale at Monterey was this 1955 Ferrari 410 Sport Spider for $22M at RM Sotheby’s. (Source: RM Sotheby’s)*

RM Sotheby’s

With 180 cars sold (95 percent of all lots), RM Sotheby’s auctions total of $239,258,340 was more than all other Monterey auctions combined, the auction house said. Fifty-two lots sold for over $1M. The sale also broke a world record for the highest-ever grossing automotive auction. Since RM Sotheby’s took nine of the top-10 sales for the whole weekend, the only other car to add to its own top-10 is the 1998 Ferrari F300 Formula One racecar that sold for $6.22M.

RM Sotheby’s said 17 percent of bidders were new to the auction company, and of those, 11 percent purchased cars.

Maroon 1937 Mercedes 540K Special Roadster front view — *1937 Mercedes 540K Special Roadster brought $9.9M at RM Sotheby’s. (Source: RM Sotheby’s)*

Blue 1959 Maserati 3500 GT Spyder front left view — *On Premier’s Cars to Watch list, this 1959 Maserati 3500 GT Spyder prototype sold for $1.025M at RM Sotheby’s. (Source: RM Sotheby’s.)*

Gooding & Company

The Gooding & Company top-10 was a mostly Ferrari, Porsche and Bugatti affair, covering multiple periods of each marque’s history. One of Premier’s preview cars, the 1961 Ferrari 400 Superamerica Series I Coupé Aerodinamico sold for $6M, an astounding $1M above its top estimate.

Gooding & Company Top-10 Sales

1937 Bugatti Type 57SC Atalante: $10.345M
1961 Ferrari 400 Superamerica Series I Coupé Aerodinamico: $6M (Premier preview car)
2007 Porsche RS Spyder Evo racer: $5.615
1995 Ferrari F50: $4.625M
1969 Porsche 908/02: $4.185M
2004 Ferrari Enzo: $4.130M
1990 Ferrari F40: $3.965M
1994 Bugatti EB110 Super Sport: $3.167M
1937 Mercedes-Benz 540K Sport Cabriolet A: $3.085M
1973 Porsche 911 Carrera RS 2.7 Lightweight: $2.425M

Black 1961 Ferrari 400 Superamerica Series I Coupé Aerodinamico left side view — *1961 Ferrari 400 Superamerica Series I Coupé Aerodinamico brought $6M at Gooding & Company. (Source: Gooding & Company)*

Broad Arrow Auctions

Broad Arrow Auctions made a big splash with its first-ever auction, the Monterey Jet Center sale, tallying $55,256,900 with 88 percent of 93 lots sold. Held in conjunction with Hagerty’s Motorlux event on Wednesday evening, the auction featured veteran Lydia Fenet as principal auctioneer for Broad Arrow.

Broad Arrow Top-10 Sales

1957 Ferrari 250 GT LWB Berlinetta Scaglietti Tour de France: $5.5M
1995 Ferrari F50: $5.175M
2015 Ferrari LaFerrari: $3.91M
1971 Mercedes-Benz 600 LWB Landaulet: $2.59M
1964 Aston Martin DB5: $2.425M
1990 Ferrari F40: $1.985M
2015 Porsche 918 Spyder Weissach Package: $1.93M
1987 Porsche 959: $1.875M (Premier Preview car)
2005 Porsche Carrera GT: $1.765M
1956 Mercedes-Benz 300 SL “Gullwing” Coupe: $1.628M

Silver 1957 Ferrari 250 GT TdF front left view — *At Broad Arrow auction, 1957 Ferrari 250 GT Berlinetta TdF sold for $5.5M (Courtesy of Josh Sweeney / Courtesy of Broad Arrow Auctions)*

Red Ferrari F50 at Broad Arrow auction — *Broad Arrow’s second highest sales was this 1995 Ferrari F50 for $5.175M. (Courtesy of Josh Sweeney / Courtesy of Broad Arrow Auctions)*

Bonhams

Bonhams’s Quail Lodge sale upheld the company’s penchant for presenting an eclectic lineup. The sale price of the 1938 Bugatti Type 57C Atalante was not disclosed but was hinted to be the top sale. There was a 69-year gap between the oldest and newest cars on the Top-10 sales list. Bonhams sold two cars from Ferrari’s foundational years. The 1955 250 GT Europa by Pininfarina, the last of this model series built, brought $2.095M, and a 1952 212 Inter Alloy Coupe by Ghia sold for $1.215M. Two Mercedes 300SL’s placed on the Top-10, a Gullwing and a Roadster.

Bonhams Top-10 Sales

1938 Bugatti Type 57C Atalante: price not disclosed
1955 Ferrari 250 Europa GT by Pinin Farina: $2.095M
1969 Lamborghini Miura P400S: $1.957M
1956 Mercedes-Benz 300SL Gullwing: $1.737M
1995 Porsche 911 GT2: $1.545M
1931 Stutz DV-32 Convertible Victoria by LeBaron: $1.435M
1926 Rolls-Royce Silver Ghost Piccadilly: $1.435M
1951 Ferrari 212 Inter Alloy Coupe by Ghia: $1.215M
1958 Mercedes-Benz 300SL Roadster: $1.039M
1965 Lamborghini 350 GT: $742K

White Ferrari 250 Europa GT driving on road — *1955 Ferrari 250 Europa GT by Pinin Farina sold by Bonhams for $2.095M. (Source: Bonhams)*

Mecum

Mecum delivered on its reputation for covering the spectrum of the car world, with both modern supercars and pre-war classics in its Top-10. Where else would you find a Ferrari 250 GT TdF and a Marmon Sixteen on the same list as a Bugatti Veyron and two La Ferrari prototypes? And, what would a Mecum top-10 be without a member of muscle car royalty, in this case one of the 17 Plymouth ‘Cuda 440 Six-Barrel convertibles built for 1971. Surely, the award for “longest and most expensive car name” must go to Mecum’s third-place finisher, at $260K per word (see below).

Mecum Top-10 Sales

1958 Ferrari 250 GT Tour de France Alloy Berlinetta: $2.86M
1936 Duesenberg Model J Rollston Convertible Berline: $2.695M
2014 Bugatti Veyron 16.4 Grand Sport Vitesse Jean-Pierre Wimille Legend Edition: $2.64M
2014 Ferrari LaFerrari Prototype PS1: $2.5M
1990 Ferrari F40: $2.31M
1962 Mercedes-Benz 300SL Roadster: $1.705M
2012 Ferrari LaFerrari Prototype MP1: $1.595M
1959 Mercedes-Benz 300SL Roadster: $1.485M
1931 Marmon Sixteen Convertible Coupe: $1.182M
1971 Plymouth ‘Cuda Convertible: $1.1M