Monterey 2014 – 5 Days of Automotive Porn – Auction Results

Saturday/Sunday – Auctions 2

You can go online and read the results of each auction, but it’s a hassle to work your way through all the individual menus, and anyway if a car did not sell, it won’t show up.

SWB Berlinetta Gooding

One mustn’t read too much into an individual result, but the moderation shown in the record-setting but myth-busting selling price of the GTO at Bonhams seems to indicate a trend. The beautifully turned-out Ferrari SWB Berlinetta (above) that Gooding & Co. offered started encouragingly at eight million dollars, but stalled at ten, and went unsold (unless they worked it out backstage afterward, which is not uncommon)

SWB Spider California Profile

The luscious “Ferris Bueller” Ferrari 250 GT California Spider was bid up to $13,800,000 where it sold.

Bubble Gives Way to Restraint

There was some concern that ever-climbing sales prices leading to a rash of records might be, in the words of Alan Greenspan, “irrational exuberance.” It seems those fears were unfounded, as several highly publicized cars failed to sell, indicating that some self-discipline was being exercised.

Ferrari 330 GT 2+2 Speciale

Perhaps an encouraging sign that sanity will yet prevail in collector car sales, the anteater-like 1966 Ferrari 330 2+2 Speciale was not special enough to meet its reserve, failing to sell when bidding ceased at $330,000. The owner of an unmodified  330 GT 2+2 was less picky and it sold for $290,000.

Jay Leno With Two Charity Cars (2)

Two vehicles that sold for well beyond the pre-bid estimate were a couple of charity sales. Jay Leno was on hand to do his usual pitch for various causes. BMW donated a special Concours Edition of the not-yet-for-sale i8. The Pebble Beach Community Foundation benefits from the $750,000 sale, and Gooding donated its commission as well. Topping that was a 1957 Buick Caballero Station Wagon signed by George W. Bush and estimated at $100,000 to $175,000. When bids reached $280,000 the next bidder offered to give the car back to be re-bid, so the underbidder declined to counter his $300,000 bid. Thus he got the car for $280,000 in the second chance sale, for a total of $580,000 going to the Wounded Warrior Project.

The Dreaded “DNS”

Many consignments did not meet their reserves and did not sell included the following.

Gooding’s Marquee lot, the 1966 Ferrari 365 P Tre-Posti (three place. The driver was in the middle with a passenger on each side slightly behind, foreshadowing the McLaren FI by 26 years.) built on spec by Pininfarina. It was the first mid engine street Ferrari to carry the famous V12. Gooding thought enough of the car to include a separate slick catalog supplement with an interview with Luigi Chinetti Jr. No estimate was given but I am sure they were disappointed when bidding stopped at $22.5M

Others, with the high bid reached before declaring “Did Not Sell:”

The 5th production Shelby Cobra, Number CSX2005; $1.7M
McLaren F1 estimated at $12 – 14 Million; $10.75M.
Ex-Briggs Cunningham 300SL; $2.8M.
Another 300SL Gullwing; $1.2M
1988 Porsche 959 Komfort;$1.35M
1969 Ferrari 365GTB/4 Daytona Competizione; $4.4M
The unrestored Duesenberg; $0.90M
1965 Ferrari 275 GTS; $1.5M
Two late-’30s Alfa Romeos; $3.6M and $1.5M
1967 Champion-Season Race-Winning Brabham-Repco; $0.85M

Others with perhaps a more realistic assessment of their value included Steve McQueen’s Ferrari 275 GTB/4 that briefly occupied the space next to his Jaguar XK-SS at the Petersen. It was estimated to go for eight to twelve million dollars and it sold for $9,250, 000 plus commission.

McQueen 275GTB4 And XK-SS

1963 Le Mans winner Vern Schuppan loaned his ex-Steve McQueen Ferrari 275 GTB/4 to the Petersen Automotive Museum, where it shared a space with the Museum’s ex-McQueen Jaguar XK-SS before both headed for Monterey. The Ferrari went to the RM Auction where it drew a winning bid of $9.25M, while the “Green Rat” went to the Quail Motorsport Gathering. The “McQueen Bump” looks to be about 2.7, as that is the amount the ex-McQueen 275 GTB/4 brought in above a similar car at RM.

Silver 289 Cobra Interior

Shelby 289 Cobra CSX2567 did not have the provenance of CSX2005, but neither did its owner have unrealistic expectations. It’s hammer price of $770,000 was below the low estimate but apparently over the reserve. That price (plus commission) gets the car as is (including rather sad upholstery), but with a long list of original parts that can be used to bring it back into original shape should the new owner wish to do so.

Of course there are always a few cars that do inspire a bidding frenzy. At RM for instance, a special bodied 1964 Ferrari 275 GTB brought in more than double the McQueen car at $24 million.

A 1974 Lamborghini Countach LP400 “Periscopo” that was estimated at between $600,000 and $800,000 sold for a new world record of $1,700,000 plus commission.

A couple of 1967 Japanese cars confirmed a trend, with a Toyota 2000 GT bidding for $1,050,00 and a Mazda Cosmo 110 Sport reaching $240,000.

The Gooding’s Tucker 48 edged past the $1.7M high estimate to sell for $1.8M, while RM’s just passed its low estimate to get to $1.425M.

I always watch E-Types with interest, and a particularly interesting car, one with the outside latches, flat floor and patched-in bonnet louvers of the earliest cars, called the “Blue Diamond,” sold for $400,000, a bit better than estimated.

A rare 1955 Alfa Romeo 1900C SS Coupe with alloy bodywork by Zagato, mostly original and in desperate need of loving care, brought a high bid well over the high estimate at $920,000.

And among the classics, a 1938 Packard Twelve Model 1608 All-Weather Cabriolet with a high estimate of $300,000 drew a high bid of $400,000, and a 1936 Auburn 852 SC Boattail Speedster with a high estimate of $700,000 bid for $1,100,000.

Just to show the common touch, a lovely 1963 MG TD, the car that introduced many Americans to the concept of the sports car, beat its $40,000 high estimate but still landed in the mortal range of $45,000.

Carma is a publication of
The OM Dude Press
a service of
Options in Mobility

Author, Editor, Publisher, Reporter, Historian, Archivist:
Dick Stewart.

All photographs are by the Author unless otherwise indicated.

Click on the images to view more detail. If the cursor is a plus sign in a circle, clicking again will yield full resolution.

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About carmacarcounselor

I'm one of those people that friends call "that car guy," except I've made it into a profession. Since 1988 when a friend found my help in choosing, finding, and negotiating for a new car was worth a fee, I've helped countless people, listening to their car questions and challenges, and helping with their car purchases, insulating them from the adversarial process that is the new car retail model today. Their word of mouth is my only publicity. My newsletter CARMA won the description "The clear crystal ring of truth" from award-winning automotive journalist Denise McCluggage. Now I'm going global!
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3 Responses to Monterey 2014 – 5 Days of Automotive Porn – Auction Results

  1. RW says:

    My fave? The anteater.

    RAN

  2. Vada says:

    Thanks for a marvelous posting! I really enjoyed reading it,
    you could be a great author.I will ensure that I bookmark your blog and
    will eventually come back later on. I want to encourage you continue your great writing, have a nice morning!

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