The pandemic is catalyzing rapid change in the way the world does business, and the 2020 cancellation of the world's foremost automotive festival, Monterey Car Week, offers a tantalizing glimpse of what the new normal might look like for the world's biggest car show once we have rebalanced from the COVID-19 assault.
As Charles Darwin so succinctly put it, "the species that survives is the one that is able to adapt to and to adjust best to the changing environment in which it finds itself" so massive credit must go to the Petersen Automotive Museum for its leadership in meeting the challenge and creating Petersen (Virtual) Car Week so the world can indulge its automotive passion via the internet. In witnessing the magnitude and sheer excellence of this response to adversity, it's hard not to feel optimistic about the future.
The silver lining to this otherwise dark cloud may well be the virtual democratization of Monterey Car Week.
The physical limitations of the Monterey Peninsula's hospitality industry and roads have made it almost impossible for the event to get much bigger physically, but in sidestepping the pandemic and enabling virtual participation, a much greater percentage of the global automotive community will be involved on a much greater level than ever before. There is always a better way, and the current situation is precipitating it post-haste.
The lead-up events to Virtual Car Week are already underway, but the best stuff all happens next week – from 12 to 16 August 2020.
It is FREE and you can sign up here.
The virtual events will include live vehicle debuts, interviews with the knowledgable and entertaining, a concept car and hypercar show and a celebrity-judged Concours.
Buying and Selling really expensive things online
The volume of million dollar cars set for Monterey this year has more than halved compared to previous years, and the response from the marketplace will be worth watching with auctions now virtual and virtual attendance compulsory if you want to buy what's on offer. The major auction houses have all begun developing their auction platforms for the new world order, and virtual auctions will become the norm for the foreseeable future. RM-Sotheby's is in the middle of a major re-engineering of its web presence and already the promise can be seen. Gooding & Company has launched a new phone/tablet platform for its auctions, and appears certain to become a major auction presence on both sides of the Atlantic. I've always liked Bonhams internet auction set-up best of them all, but failing to get better and learn continuously in a time of massive change is almost certainly going backwards, and Bonahms can at least amortize investment across many auction genres (and a hi-res feed of the live auction would be great).
Whilst auctioneers in some states and countries will persevere with bricks-and-mortar auctions, unless they begin catering to the enthusiasts who cannot attend due to travel or health or plain old common sense restrictions, they'll be dealing to a fraction of their prior audience. If you wish your auction to be a world class event, you need a worldwide audience, and those auctioneers who develop the best internet auction platform will be the winners in the long run.
The pandemic has been more than kind to other auction genres (sport, music and entertainment memorabilia is booming) so it will be fascinating to see how the marketplace responds. Quite clearly the much lesser volume of cars in comparison to previous years indicates that sellers do not believe this is the right time and/or right platform to get the optimum price, and with restricted supply, perhaps market forces will balance.
Below you'll find our synopsis of the major cars at auction. We haven't had the time to write a brief synopsis for each car as the inventory of the auctions has been changing until a few hours ago and deadline is upon us.
One final reflection on the offerings that you will not find anywhere else. Regular readers will have seen signs of the massive research we are undertaking into the prices of collectibles of all genres. It is common knowledge that movie posters have been big business for a long time, with prices of $50,000+ for vintage movie posters quite commonplace these days.
Our research suggests that the price of music concert posters is now rising dramatically, particularly for posters from the 1960s, for psychedelic posters in particular but any genuine posters for concerts by the recognized bands are appreciating in value at a rapid rate. They have been vastly undervalued, but within five years, they will become perhaps an order of magnitude more expensive than they have been for the last ten years.
Automotive posters are still vastly undervalued by comparison. We're not sure why, but comparing the prices of different genres of vintage posters leaves us in no doubt we are correct. There are quite a few gorgeous automotive posters available at RM-Sotheby's and Gooding & Company this year – we'll be reminding you five years from now how right we were.
1934 Alfa Romeo 8C 2300 Cabriolet Décapotable
Bonhams | Quail Auction, Los Angeles | 14 Aug 2020
Lot 61 | Estimate: $6,500,000 to $7,500,000
Official Bonhams Auction Page
This is a car touched by magic in every sense. Designed by Vittorio Jano, Alfa Romeo's first eight-cylinder road car was introduced in 1931. The 8C 2300 won the 24 Hours of Le Mans on debut in 1931, finished 1-2 in the race in 1932, clean-swept (1-2-3) the world's most important race in 1933, won in 1934 with a 175-mile margin over second place, and narrowly missed the win in 1935 in controversial circumstances. A general strike prevented the 1936 running of the event, but left the car with an incredibly impressive record in the prestigious and grueling event.
This particular car is one of just five cabriolets bodied by the French Italian designer and master craftsman Giuseppe Figoni, who would partner with Italian Ovidio Falaschi the following year to form the now legendary Parissiene carrosserie Figoni et Falaschi. The entire history of this car, including numerous period photographs, is available in the Bonhams auction description. If it meets reserve, this car will be the highest priced car of the 2020 virtual Monterey Car Week.
2001 Ferrari 550 GT1 Prodrive
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 36 | Estimate: $3,850,000 to $4,850,000
Official RM-Sotheby's Auction Page
This car was one of 12 built by Prodrive for Care Racing Development, the consignor. Ferrari enthusiasts will find the imagery for this car enthralling, particularly the engine and cabin shots where the extraordinary amount of work required to build a successful racing car is particularly evident. This car debuted towards the end of the 2001 season with an appearance in the American Le Mans Series before traveling to Europe where it was raced under the BMS Scuderia Italia banner.
In a spectacular racing campaign, this car amassed 14 victories in its division, including a class victory at the 2003 24 Hours of Spa, overall winner of the 2004 24 Hours of Spa, and the 2004 FIA GT Championship. The car is fitted with its 2004 Spa winning engine, which was recently rebuilt by Prodrive. RM-Sotheby's has been developing its site to facilitate the delivery of far more information and documentation of each car it puts up for auction, and it is worth the registration process to delve into the treasure trove of documents on this car alone. It will be sold with its FIA Technical Passport, (A.C.O Technical Passeport), and a UK road registration document, as well as an exhaustive history file of work undertaken including the recent overhauling to bring the car to race-ready condition. The car has been certified by Ferrari Classiche and will be delivered with the Red-White Stripe Book “Certificazione per Veicoli da Competizione.” Race car enthusiasts and engineers will spend a lot of time looking through the files on this one.
1966 Ferrari 275 GTB Long Nose
Gooding & Company | Geared Online | 7 August 2020
Lot 56 | Estimate: $2,750,000 to $3,250,000
Official Gooding & Co Auction Page
This 1966 Ferrari 275 GTB is one of less than 40 cars that were factory-equipped with the improved torque tube driveshaft and optional high-performance six-carburetor (6C) configuration. The car has the long nose body, and was factory-equipped with an extremely rare competition-style external fuel filler cap, and wears the same Bianco paint and beige leather upholstery it was delivered with in September 1966. The odometer shows the car has covered just 81,000 km (50,000 miles), with just 2000 km in the last 30 years and it will be sold with two sets of wheels (Campagnolo alloys and Borrani wires), original books (owner’s manual and spare parts list) and literature (including a factory brochure), as well as assorted spares. Other period details that contribute to its charm include elegant Marchal driving lamps and a chrome prancing horse, while inside, the center console is fitted with a Blaupunkt radio and a lovely Jaeger chronograph. Also included with the sale is a fantastic documentation file that includes ownership and registration records dating back to 1969, copies of ACI registration records, and a history report prepared by Ferrari historian Marcel Massini.
1959 Porsche 718 RSK Spyder
Bonhams | Quail Auction, Los Angeles | 14 Aug 2020
Lot 53 | Estimate: $2,800,000 to $3,200,000
Official Bonhams Auction Page
The Porsche Typ 718 RSK was the ultimate development of the Porsche 550, and this RSK was one of the last built. Despite a relatively underpowered 1500cc motor, the car continued the giant-killer reputation of the 550 and 550A, finishing third outright in the 1958 24 Hours of Le Mans, numerous F2 wins and three second places in the 1961 Formula 1 race season.
This car has a splendid in-period race history which is well documented in the auction description, along with a long and detailed history of the model and its development.
2018 Bugatti Chiron
Bonhams | Quail Auction, Los Angeles | 14 Aug 2020
Lot 20 | Estimate: $2,500,000 to $2,800,000
Official Bonhams Auction Page
First shown at the 2016 Geneva Motor Show, the Bugatti Chiron is not for the faint of heart, or the faint of wallet. Just 500 Bugatti Chirons were built, and the bottom-of-the-range, minimum-frills, budget Chiron cost €2,400,000 (a little less than US$3.0 million). For that price, you get a car with a 7,993cc quad-turbocharged 1,479 hp W16 engine capable of propelling it to 304.77 mph. An oil change will cost you $25,000 and a new set of tires will leave you enough change from $40,000 for a coffee and chaser. You can spend almost as much as you wish personalizing a Chiron, with the world’s most expensive car, La Voiture Noir based on a Chiron and costing US$18.9 million (€16.7 million).
Getting into a Chiron is not as easy as simply going to a dealership and buying one. Getting on the waitlist for a Bugatti is so hard that they initially sold for more second-hand than they cost new. In December 2017, RM-Sotheby’s sold a Chiron for $3,772,500 and at Retromobile in Paris in 2018, a Chiron topped the auction listings for the entire week when it fetched €3,323,750 (US$4,082,171). The only other Chiron to sell at auction was also sold in Paris in February 2019, fetching €2,275,000 at RM-Sotheby’s and dropping below the new price for the first time. This will be one of the most-watched lots of Petersen Car Week.
2003 Ferrari Enzo
Gooding & Company | Geared Online | 7 August 2020
Lot 47 | Estimate: $2,200,000 to $2,600,000
Official Gooding & Co Auction Page
1995 Ferrari F50
Gooding & Company | Geared Online | 7 August 2020
Lot 72 | Estimate: $2,200,000 to $2,600,000
Official Gooding & Co Auction Page
1964 Ferrari 500 Superfast by Pininfarina
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 18 | Estimate: $2,250,000 to $2,500,000
Official RM-Sotheby's Auction Page
The Ferrari 500 Superfast is the ultimate expression of the company’s flagship Superamerica Grand Touring series, with a 400 hp 4.9 liter V12 engine and a top speed of 280 km/h in near silence.
Twenty-five units with a 4-speed gearbox were built during the first series. In 1966, a second series of twelve cars came out, which had additional speed. The target audience was the world’s richest enthusiasts, and the owner list included Prince Sadhruddin Aga Khan, Prince Karim Aga Khan, Reza Pahlevi (the Shah of Persia – the car is rumored to still be in storage in Iran), Prince Bernhard of Netherlands, renowned playboy Gunter Sachs, Greek shipping magnate Peter Livanos, actor Peter Sellers, Woolworth heiress Barbara Hutton and more recently, David Letterman and Silicon Valley property developer John Mozart. This car was owned by Lord James Hanson for 35 years and has still only had three owners.
Remarkably, the 500 Superfast was not a particularly sought-after collector car until quite recently, with prices passing the $1.0 million mark a decade ago and peaking at around $3 million five years ago. The highest prices fetched by a 500 Superfast are $3,025,000 (Gooding & Company in 2015), $2,915,000 (Gooding & Company 2017), and $2,750,000 (RM-Sotheby’s 2016).
1967 Ferrari 275 GTB/4 by Scaglietti
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 92 | Estimate: $2,500,000 to $2,750,000
Official RM-Sotheby’s Auction Page
1936 Mercedes-Benz 500K Offener Tourenwagen
Bonhams | Quail Auction, Los Angeles | 14 Aug 2020
Lot 33 | Estimate: $2,000,000 to $2,500,000
Official Bonhams Auction Page
One of only 16 Mercedes-Benz Sporting Tourenwagens built on the 500K chassis, this car went to auction in 2014 after being in the collection of Dr. Ralph W.E. Cox since 1951. It sold for $1,430,000 at that time, and was then subjected to an extensive refurbishment during which the Tourenwagen was brought to concours condition.
In 2015 it debuted on the lawns of the Pebble Beach Concours d'Elegance, finishing second in the pre-war Mercedes-Benz class, behind only the Mercedes-Benz 680S of Arturo Keller, two time winner of Best in Show at Pebble Beach. In 2017, the car again went to auction at RM-Sotheby’s where it sold for $1,540,000.
The only other Mercedes-Benz 500 Sport Tourenwagen that we can find that has been to auction in the last decade sold for €679,440 in Paris in 2017.
2017 Lamborghini Centenario Coupe
Bonhams | Quail Auction, Los Angeles | 14 Aug 2020
Lot 48 | Estimate: $2,000,000 to $2,300,000
Official Bonhams Auction Page
Produced in 2017 to celebrate what would have been Lamborghini founder Ferruccio Lamborghini's 100th birthday, only 20 Centenario Coupes and 20 Centenario Roadsters were created and just six Centenario coupes came to North America. The engine is the most powerful V12 ever produced by Lamborghini at 770 hp, and the sound from the titanium exhaust is reportedly sublime. In addition to being the lightest V12 ever produced by Lamborghini, the car features all-wheel-drive and all-wheel-steering and a set of specs that make it the most exciting Lamborghini.
All 20 Centenario Coupes sold new for $2 million three years ago, and given the outrageous specifications and rarity, you’d think that any opportunity to own one might be grabbed. The facts are that one of those six North American-delivery cars has gone to auction twice with less than 50 miles on the clock and the highest bid yet made is a relatively disappointing $2,250,000.
This car is a different color but the expectations are also far more modest.
1971 Ferrari 365 GTB/4 Daytona Independent Competizione
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 44 | Estimate: $2,250,000 to $2,275,000
Official RM-Sotheby's Auction Page
2014 Bugatti Veyron 16.4 Grand Sport Vitesse 'Meo Costantini'
Bonhams | Quail Auction, Los Angeles | 14 Aug 2020
Lot 77 | Estimate: $1,800,000 to $2,100,000
Official Bonhams Auction Page
1965 Ferrari 275 GTB by Scaglietti
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 119 | Estimate: $1,800,000 to $2,000,000
Official RM-Sotheby’s Auction Page
2014 Pagani Huayra
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 35 | Estimate: $1,800,000 to $2,000,000
Official RM-Sotheby's Auction Page
1966 Ferrari 275 GTS by Scaglietti
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 106 | Estimate: $1,600,000 to $1,800,000
Official RM-Sotheby’s Auction Page
1992 Ferrari F40
Gooding & Company | Geared Online | 7 August 2020
Lot 39 | Estimate: $1,250,000 to $1,500,000
Official Gooding & Co Auction Page
1991 Ferrari F40
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 19 | Estimate: $1,250,000 to $1,500,000
Official RM-Sotheby's Auction Page
2005 Ferrari 575 GTZ Zagato
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 60 | Estimate: $1,750,000 to $2,250,000
Official RM-Sotheby's Auction Page
1938 Bugatti Type 57 Cabriolet
Gooding & Company | Geared Online | 7 August 2020
Lot 52 | Estimate: $1,300,000 to $1,600,000
Official Gooding & Co Auction Page
1935 Aston Martin Ulster
Bonhams | Quail Auction, Los Angeles | 14 Aug 2020
Lot 37 | Estimate: $1,200,000 to $1,400,000
Official Bonhams Auction Page
1955 Mercedes-Benz 300 SL Gullwing
Gooding & Company | Geared Online | 7 August 2020
Lot 76 | Estimate: $1,200,000 to $1,400,000
Official Gooding & Co Auction Page
1964 Ferrari 250 GT/L Berlinetta Lusso by Scaglietti
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 37 | Estimate: $1,200,000 to $1,400,000
Official RM-Sotheby's Auction Page
1957 Mercedes-Benz 300 SL Roadster
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 50 | Estimate: $1,100,000 to $1,200,000
Official RM-Sotheby's Auction Page
1986 Porsche 962 IMSA GTP
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 59 | Estimate: $1,000,000 to $1,250,000
Official RM-Sotheby’s Auction Page
1960 Mercedes-Benz 300 SL Roadster
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 31 | Estimate: $1,000,000 to $1,125,000
Official RM-Sotheby's Auction Page
1929 Mercedes-Benz Model 630 K Town Car
Bonhams | Quail Auction, Los Angeles | 14 Aug 2020
Lot 26 | Estimate: $1,000,000 to $1,400,000
Official Bonhams Auction Page
1926 Mercedes-Benz 24/100/140 Sports Phaeton
Bonhams | Quail Auction, Los Angeles | 14 Aug 2020
Lot 29 | Estimate: $1,000,000 to $1,400,000
Official Bonhams Auction Page
1955 Mercedes-Benz 300SL Gullwing Coupe
Bonhams | Quail Auction, Los Angeles | 14 Aug 2020
Lot 69 | Estimate: $1,200,000 to $1,350,000
Official Bonhams Auction Page
1932 Packard Deluxe Eight Individual Convertible Victoria
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020 |
Lot 32 | Estimate: $1,000,000 to $1,250,000
Official RM-Sotheby’s Auction Page
1971 Porsche 911 ST Rally
Gooding & Company | Geared Online | 7 August 2020
Lot 61 | Estimate: $950,000 to $1,250,000
Official Gooding & Co Auction Page
1934 Duesenberg Model J Town Car
Gooding & Company | Geared Online | 7 August 2020
Lot 62 | Estimate: $950,000 to $1,250,000
Official Gooding & Co Auction Page
1966 Aston Martin DB6 Vantage Shooting Brake
Bonhams | Quail Auction, Los Angeles | 14 Aug 2020
Lot 86 | Estimate: $1,000,000 to $1,200,000
Official Bonhams Auction Page
1956 Mercedes-Benz 300 Sc Roadster
Bonhams | Quail Auction, Los Angeles | 14 Aug 2020
Lot 39 | Estimate: $900,000 to $1,100,000
Official Bonhams Auction Page
1972 Porsche 916
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 93 | Estimate: $900,000 to $1,000,000
Official RM-Sotheby’s Auction Page
1959 Maserati 3500 GT Spyder by Frua
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 53 | Estimate: $750,000 to $1,000,000
Official RM-Sotheby's Auction Page
1929 Duesenberg Model SJ Convertible Sedan by Murphy
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 33 | Estimate: $850,000 to $1,100,000
Official RM-Sotheby's Auction Page
1961 Mercedes-Benz 300 SL Roadster
Gooding & Company | Geared Online | 7 August 2020
Lot 34 | Estimate: $850,000 to $950,000
Official Gooding & Co Auction Page
2017 Ferrari F12tdf
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 46 | Estimate: $800,000 to $950,000
Official RM-Sotheby's Auction Page
1930 Alfa Romeo 6C 1750 Grand Sport Spider
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 52 | Estimate: $700,000 to $900,000
Official RM-Sotheby's Auction Page
1937 Bugatti Type 57C Ventoux
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 12 | Estimate: $700,000 to $850,000
Official RM-Sotheby's Auction Page
1980 BMW M1 Procar
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 11 | Estimate: $600,000 to $800,000
Official RM-Sotheby's Auction Page
2019 Aston Martin Vanquish Zagato Shooting Brake
Bonhams | Quail Auction, Los Angeles | 14 Aug 2020
Lot 79 | Estimate: $575,000 to $700,000
Official Bonhams Auction Page
1956 Mercedes-Benz 300 Sc Coupe
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 69 | Estimate: $475,000 to $575,000
Official RM-Sotheby's Auction Page
1960 Porsche MOMO 356 RSR Outlaw by Emory
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 55 | Estimate: $450,000 to $650,000
Official RM-Sotheby's Auction Page
2008 Spyker C8 Laviolette
Gooding & Company | Geared Online | 7 August 2020
Lot 49 | Estimate: $350,000 to $450,000
Official Gooding & Co Auction Page
1994 Porsche 911 Turbo 3.6
RM-Sotheby's | SHIFT/Monterey Sale | 14-15 August 2020
Lot 43 | Estimate: $275,000 to $325,000
Official RM-Sotheby's Auction Page
2015 VLF FORCE 1 V10
2015 VLF FORCE 1 V10 | Gooding & Company | Geared Online | 7 August 2020 | Lot 57 | Estimate: $275,000 to $325,000 | Official Gooding & Co Auction Page
Gooding & Company | Geared Online | 7 August 2020
Lot 57 | Estimate: $275,000 to $325,000
Official Gooding & Co Auction Page