Monterey Car Auctions Top $245 Million

Darin Schnabel © 2019 Courtesy of RM Sotheby’sDarin Schnabel © 2019 Courtesy of RM Sotheby’s
Auction Sales Cool
The numerous auctions that take place annually in Monterey contribute much to the energy of the Monterey Motoring Week that leads up to the Pebble Beach Concours d’Elegance collector car show, particularly the excitement of the live auctions selling high-value cars. But this year a chill was in the air as several headline cars failed to sell, and total auction sales dropped by $125 million compared to 2018. A big contributor to the shortfall has to do with the numbers last year: in 2018 there were three cars that each sold for more than $20 million, including a Ferrari 250 GTO at a record-breaking $48 million. This year’s top seller was the 1994 McLaren F1 LM-spec, which fell slightly short of $20 million and was the only car sold for more than $10 million.

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