2016 Pebble Beach Auction Results

Monterey Car Week is a classic car buyers heaven. Every year hundreds of millions of dollars’ worth of classic cars go under the hammer during this one special week in sunny California. Hagerty will have the final numbers soon but it appears this year was more of the same momentum with 724 of 1,273 lots being sold at a whopping $339.7 million in total. While that is down on last year it is hard to argue that this year wasn’t another screaming success for buyers and auction houses alike.

Hagerty said big-ticket sales were a huge chunk of the 2016 total, with record prices set for an American car (1962 Shelby Cobra 260, $13,750,000), a British car (1955 Jaguar D-Type roadster, $21,780,000) and a prewar car (1939 Alfa Romeo 8C 2900B Lungo Spider, $19,800,000).

Gooding & Company’s official Pebble Beach Auctions sold $130 million in cars which was a record for them. 26 cars were sold for more than $1 million, with four cars selling for over $10 million. The Jaguar D-Type that was top-dog this year topped the $17.6MM Ferrari 250 LM Coupe from last year by more than $4 million. It looks like the top end of the market is still pretty hot. At lower prices it seems things have cooled off slightly but nothing too crazy going on to comment on.

Here are the top 10 sales from the 2016 Monterey collector car auctions:

  1. 1955 Jaguar D-Type roadster, $21,780,000
  2. 1939 Alfa Romeo 8C 2900B Lungo Spider, $19,800,000
  3. 1959 Ferrari 250 GT California LWB Alloy Spider, $18,150,000
  4. 1962 Shelby Cobra 260 roadster, $13,750,000
  5. 1960 Ferrari 250 GT SWB Competizione Coupe, $13,500,000
  6. 1933 Alfa Romeo 8C 2300 Monza roadster, $11,900,000
  7. 1932 Bugatti Type 55 roadster, $10,400,000
  8. 1956 Ferrari 250 GT TdF coupe, $5,720,000
  9. 1950 Ferrari 166 MM Berlinetta, $5,445,000
  10. 1955 Ferrari 750 Monza Spider, $5,225,000

Auction Results: RM Sotheby’s Monterey 2016

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. It sold for $21.78 million and topped the auction list for 2016.

The very first Shelby Cobra (CSX 2000) also sold for a very impressive $13.75 million.

A 1939 Alfa Romeo 8C 2900B Lungo Touring Spider sold for $19.8 million which was the second highest price paid for an automobile during this year’s Monterey auctions.

RM Sotheby’s Monterey 2016 – Top 10 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

Auction Results: Bonhams Quail Lodge 2016

The Bonhams Quail Lodge 2016 auction sold $34.8 million in total sales with a very solid 88 percent sell-through rate. More than 115 cars were on the docket and again at the top end of the market several records fell.

A 1931 Bugatti Type 51 Grand Prix Racer sold for $4,000,000, a new world record for the model. A recent 2014 Ferrari LaFerrari hypercar sold for $3,685,000 which surprised many. Another notable result included a 1904 Mercedes-Simplex that went for $2,805,000. A 1985 Ferrari 288 GTO sold for $2,112,000 and a near-new 2015 McLaren P1 sold for $2,090,000.

Bonhams Quail Lodge 2016 – Top Ten Auction Results

1. 1931 Bugatti Type 51 Grand Prix – $4,000,000
2. 2014 Ferrari LaFerrari Coupe – $3,685,000
3. 1904 Mercedes-Simplex 28-32hp Five-Seat Rear Entrance Tonneau – $2,805,000
4. 1985 Ferrari 288 GTO – $2,112,000
5. 2014 McLaren P1 – $2,090,000
6. 1955 Lancia Aurelia B24 Spider America – $1,402,500
7. 1930 Duesenberg Model J Murphy Town Car – $1,254,000
8. 1989 Ferrari F40 – $1,155,000
9. 1956 Porsche 356A Carrera GS Speedster – $891,000
10. 1965 Shelby Cobra 289 – $880,000

Auction Results: Gooding and Company Pebble Beach 2016

The Gooding and Company Pebble Beach 2016 auction was held August 20-21 at the Pebble Beach Equestrian Center in California, resulting in total sales of $129.8 million and an 83 percent sell-through rate. The total represents a two-day sales company record and an average of $1,128,606 per car.

“To break $129 million in just two days is astounding and speaks to this year’s distinguished offering. Our clients recognize that we carefully curate our auctions to showcase the highest quality,” said David Gooding, President and Founder of Gooding & Company. “We appreciate their patronage and support, as we achieved our most successful sale to date. I look forward to seeing all of you in 2017.”

During the 2016 Pebble Beach auction weekend, Gooding and Company sold 26 cars for more than the $1 million, including four vehicles over $10 million. Numerous world records were broken for multiple marques, including the 1959 Ferrari 250 GT LWB California Spider Competizione that sold for $18,150,000, the 1933 Alfa Romeo 8C 2300 Monza that sold for $11,990,000, the 1932 Bugatti Type 55 Roadster that sold for $10,400,000 — the highest price ever achieved for a Bugatti sold at auction, the 1979 Porsche 935 that sold for $4,840,000, the 1957 Maserati A6G/54 that sold for $3,300,000 and the 1930 Packard 734 Speedster Runabout that sold for $2,090,000.

Gooding and Company Pebble Beach 2016 – Top 20 Auction Results

1. 1959 Ferrari 250 GT LWB California Spider Competizione – $18,150,000
2. 1960 Ferrari 250 GT SWB Berlinetta Competizione – $13,500,000
3. 1933 Alfa Romeo 8C 2300 Monza – $11,990,000
4. 1932 Bugatti Type 55 Roadster – $10,400,000
5. 1950 Ferrari 166 MM Berlinetta – $5,445,000
6. 1979 Porsche 935 – $4,840,000
7. 1957 Maserati A6G/54 Spider – $3,300,000
8. 1967 Ferrari 275 GTB/4 – $3,245,000
9. 1954 Aston Martin DB2/4 Spider – $3,080,000
10. 1968 Ferrari 330 GTS – $2,502,500

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