The RM Sotheby’s Monterey 2016 auction was held August 19-20 at the Portola Hotel and Monterey Convention Center in Monterey, California, resulting in $117.9 million in total sales and an 82 percent sell-through rate at its flagship sale during the Pebble Beach Car Week.
“This year’s Monterey auction once again reinforced the notion that if you offer some of the most special and unique motor cars in the world, on the global stage at RM’s flagship event during the Pebble Beach weekend, anything can happen and records will be broken,” says Ian Kelleher, Managing Director, RM Sotheby’s West Coast Division.
Due to construction at the event venue, the 2016 RM Monterey sale presented a smaller offering this year (a total of 100 cars versus the 150 vehicles presented in 2015, including 25 from the Pinnacle Portfolio), though the quality of entries remained high, with 21 vehicles commanding million-dollar-plus results, including three vehicles exceeding $13 million.
One of the most exciting auction moments of the weekend came when the 1956 Le Mans-winning Jaguar D-Type, XKD 501, roared onto the stage before a packed audience during the Friday (August 19) sale session. The first D-Type supplied by Jaguar to a privateer team, XKD 501 was sold new to Scottish racing team, Ecurie Ecosse, who campaigned it to victory at the 1956 24 Hours of Le Mans. Offered in Monterey following almost two decades in one of America’s leading collections, the Jaguar was the subject of a 15-minute bidding contest between four collectors before selling for a final $21.78 million. The result ranks the car as the most valuable vehicle sold during this year’s Monterey auctions, in addition to representing a record price for any British car sold at auction.
The sale of the D-Type was closely followed by an American legend: CSX 2000, the very first Shelby Cobra. One of the most anticipated lots of this year’s Monterey week, the Shelby was constructed and kept from new by Carroll Shelby and never left his care. Offered in Monterey by the Carroll Hall Shelby Trust, it entered the auction room on Friday (driven by Carroll Shelby’s grandson, Aaron Shelby) to a sea of camera flashes and applause, before climbing to a $13.75 million — a new benchmark for an American car at auction.
The auction continued on Saturday evening, led by the 1939 Alfa Romeo 8C 2900B Lungo Touring Spider from the Sam and Emily Mann Collection. Chassis 412041 was the first Alfa “2.9” to be offered for public sale this century. Bidding on the Alfa opened at $14 million, quickly jumping in $500,000 increments before selling for a final $19.8 million. The second highest price paid for an automobile during this year’s Monterey auctions, the result represents a record for any pre-war automobile at auction and, along with the D-Type, secures the Alfa a spot on the list of most valuable cars ever sold at auction.
Additional notable sales from RM Sotheby’s two-day Monterey sale included:
- 1955 Ferrari 750 Monza Spider, driven by the big three of American racing in period: Phil Hill, Carroll Shelby and Jim Hall, and offered by Jim Hall for the first time in 60 years, commanded $5,225,000 to establish a new auction record for the model;
- 1954 Bentley R-Type Continental Fastback Sports Saloon, soared past high estimate, realizing $1.87 million;
- 1966 AAR Eagle Indianapolis #31, the very first Indy 500 Eagle, offered from the Riverside International Automotive Museum, garnered $962,500 — a record price for an AAR Eagle Indy car at auction;
- 1930 Cadillac V-16 Roadster, exhibiting a multiple concours award-winning restoration by RM’s own RM Auto Restoration, exceeded expectations at $1,457,500 (an auction record for a Cadillac V-16 Roadster); and,
- 1967 Ferrari 330 GT 2+2 Series II achieved $737,000 against a pre-sale estimate of $350/450,000.
RM Sotheby’s Monterey 2016 – Top 20 Auction Results
1. 1955 Jaguar D-Type (Chassis XKD 501) – $21,780,000
2. 1939 Alfa Romeo 8C 2900B Lungo Spider (Chassis 412041) – $19,800,000
3. 1962 Shelby 260 Cobra (Chassis CSX 2000) – $13,750,000
4. 1956 Ferrari 250 GT Berlinetta Competizione ‘Tour de France’ (Chassis 0507 GT) – $5,720,000
5. 1955 Ferrari 750 Monza Spider (Chassis 0510 M) – $5,225,000
6. 1966 Ford GT40 (Chassis P/1057) – $2,900,000
7. 1964 Ferrari 500 Superfast Series I (Chassis 5985) – $2,750,000
8. 1973 Ferrari 365 GTS/4 Daytona Spider (Chassis 16847) – $2,365,000
9. 1963 Ferrari 250 GT/L Berlinetta Lusso (Chassis 4415) – $2,090,000
10. 1954 Bentley R-Type Continental Fastback Sports Saloon (Chassis BC66LC) – $1,870,000
10. 1934 Mercedes-Benz 500 K Cabriolet A (Chassis 105391) – $1,870,000
12. 1965 Ferrari 275 GTB (Chassis 07093) – $1,732,500
13. 1932 Bentley 8-Litre Tourer (Chassis YX5118) – $1,705,000
14. 1930 Cadillac V-16 Roadster (Engine 701432) – $1,457,500
15. 2005 Maserati MC12 (Chassis ZAMDF44B000016977) – $1,430,000
16. 1965 Shelby 427 Cobra (Chassis CSX 3178) – $1,375,000
17. 1931 Duesenberg Model J Tourster (Chassis 2468) – $1,320,000
17. 1957 Mercedes-Benz 300 SL Roadster (Chassis 198.042.7500089) – $1,320,000
19. 1990 Ferrari F40 (Chassis ZFFGJ34B000087123) – $1,265,000
20. 1938 Maybach SW38 Roadster (Chassis 2055) – $1,072,500
For complete auction results, visit www.rmsothebys.com.
Beyond the auction, RM Auto Restoration once again enjoyed success on the show field at the Pebble Beach Concours d’Elegance. All three cars prepared by the RM team for the event were judged Best in Class, including: Judge Joseph and Margie Cassini’s 1931 Stutz DV-32 LeBaron Convertible Victoria; Jim Patterson’s 1958 BMW 507 Series II Convertible; and the 1937 Bugatti Type 57SC Gangloff Coupe from the Rare Wheels Collection. In addition, the Cassini’s Stutz was awarded Most Elegant Car on tour and shortlisted as a runner up to Best of Show.
From California to London, England, RM Sotheby’s continues its 2016 calendar of events with its 10th anniversary sale in the British capital, September 7. The official auction of the UK’s Concours of Elegance, the sale will shine a spotlight on a group of more than 80 automobiles. To view the complete digital catalogue, visit www.rmsothebys.com.
[Source: RM Sotheby’s]