Impressions from Monterey Car Week 2022

Weaker Corona regulations meant that this year, we were finally able to pay a visit to the Mekka of collector cars, the Monterey Car Week. One week consisting of endless car events and auctions, and for all tastes and wallets. All big auctions, such as RM Sotheby’s, Mecum, Bonhams, Gooding, and the new Broad Arrow auction, as well as some of the most important events of the year, such as Rennsport Reunion on the famous Weathertech Laguna Seca racetrack and the Pebble Beach Concours d’Elegance. The atmosphere is unlike anything else, whether you are in Pebble Beach, in Carmel, or in-between: multi-million dollar cars driving on the streets during the whole week, as if it was a normal sight. And the diversity is mind blowing: track cars for the road such as a Mclaren P1 GTR, as well as Ferrari’s best hits from the 60’s in the form of a 250 GT Berlinetta SWB.

This year’s auction results were nothing short of amazing, some of the strongest ever recorded. The young Broad Arrow, set by previous RM Sotheby’s employees, grossed a total of 48m USD. Held in a hangar at the Monterey Jet Center, the lineup consisted of some great collector cars, ranging from low-mileage Carrera GT to 250 TDF with some history, and some Japanese icons such as the Lexus LFA Nürburgring and a 2000 GT. But the most impressive result had to be the low mileage, US-Spec Ferrari F50, which amounted to almost 5.2m USD after fees. A record-breaking sales result.

Further down the week, RM Sotheby’s auction at the Portola started with pre-war vehicles, including several Mercedes-Benz 540, and a very special Hispano-Suiza Tulipwood. Pre-war cars are not the taste of the moment, though a 540K Spezial Roadster sold for 9,9m USD, and the Tulipwood for 9,245m USD. The first day grossed a total of 38,8m USD, with 91% of the cars finding a new home. On the second day, the famous Oscar Davis collection was next. The collection brought 67m USD, with its highlight, the Ferrari 500 TRC, bringing 7.8m USD. Surprisingly, the Maserati 450 S did not sell on the spot, though sold later on. RM’s third night grossed at an impressive 110m USD, with the highlight of the night being the Ferrari 410 Sport Spider which brought 22m USD including fees, and the 288 GTO brought a record result at 4,4 million Dollars, with 15k km on the clock. Of course, let’s not forget about Porsche’s and Pixar’s joined effort for charity which brought an impressive 3.6m USD for their unique 992 Carrera replicating the 996 Sally from the movie Cars.

Gooding’s two-day sale brought 59m USD on the first night and 45.5m USD on the second night. The highlights were the 57SC Atalante that brought 10,3m USD gross, an American F50 for 4,6m USD, and an American F40 for a record-setting 3,965m Dollars. Meanwhile, Bonhams grossed at 28m USD, with the star of the sale being a 300SL Gullwing, Miura P400 S, and a 993 GT2 which went for a very strong 1,545,000 USD.

As usual, the most famous concours d’elegance stayed true to its reputation, with an incredible display of historically significant cars including no less than two 250 GTO’s. Laguna Seca’s event also included a mouthwatering lineup, which consisted of Le Mans winners, and some more incredible race cars. Seeing the cars drive the corkscrew was nothing short of amazing.

To conclude, the market for collector automobiles is stronger than ever, although the taste of the moment seems to have moved on from 50’s and pre-war cars to newer automobiles from the 80’s, 90’s and early 00’s.