Pebble Beach Auctions – Return of Live Excitement!
Monterey week is famous for the array of spectacular car events. However, it is also known for top-notch auction houses delivering the best classic car buying opportunities for lucky collectors. This year, after a year of primarily on-line sales, the auctions roared back as strong as ever, with collectors ready to buy.
Five auction houses brought in a total of $343 million across three days of sales this past August —up 37% over the same array of opportunities in 2019. Monterey’s high sales numbers were even more impressive, considering that 25% fewer cars were offered than in 2019. A higher-than-normal sell-through rate of 80%, compared to 59% in 2019, contributed to that result, but so did the recognized high quality of many cars on offer. The average sale price of a vehicle sold in 2021 was $428,004, up from $334,114 in 2019, according to Hagerty.
“The collector car market has weathered the pandemic and then some,” said Brian Rabold, vice president of automotive intelligence for Hagerty, in his auction report. “We forecast 2021 will be the best year ever for auctions.”
Over three evenings, the RM Sotheby’s auction fetched a total of $148.5 million; that figure includes the sale of a 1962 Aston Martin DB4GT Zagato for $9.25 million and a 1962 Ferrari 268 SP by Fantuzzi for more than $7.7 million. For the British ca