Report and photos (unless noted) by Rick Carey, Auction Editor
RM Auctions held its 2010 Sports and Classics of Monterey auction on August 12th to 14th at the Portola Hotel and Spa and Monterey Convention Center in Monterey, California.
For the second year RM extended its Sports & Classics of Monterey auction to three days, opening up on Thursday with a Ford-themed offering. The feature was a number of show cars and concepts consigned by Ford with proceeds going to the Juvenile Diabetes Research Foundation and the Michigan Children’s Center. It led off RM’s most successful Monterey auction in years.
The numbers for the past three years look like this.
RM sold fifteen cars for hammer bids of a million dollars or more plus two others bid over a million dollars without selling, the tip of a pyramid heavy on quality, rarity and performance. The performance aspect is significant. With nine of the fifteen million dollar sales and both the million dollar high bids being cars with racing history, RM’s Sports & Classics of Monterey showed just how important a competition history is in collector car values.
Across the wide variety of cars in the auction a few cars were expensive, a few were cheap and most were right about where they’d be expected to be in the current market. The focus, and the experience, is mostly on high value cars where buyers still have ample resources, liquidity and a willingness to step up and pay serious money for the very best cars.
A few cars took major hits from prior transactions, but when that happened more often than not it was the acquisition that was over-priced, not the disposition that was a bargain.
Thanks to Jonathan Sierakowski for his able support this weekend.
RM Auctions Sports and Classics of Monterey 2010 – Report
These results are presented alphabetically to group similar cars for easy comparison.