Monterey auctions: moderns overtake classics

An analysis of auction results at the recent Monterey Week has revealed strong results for modern classics but weakening values for older cars. Several new records were set for post-1980 Ferraris. Broad Arrow sold an F50 for $5.175m, while an F40 was sold by Gooding for $3.965m, easily smashing the previous record for this model ($2,892,500). Gooding also sold an Enzo for $4.13m and an ex-Mike Tyson F50 for $4,625,000, while a LaFerrari went for $3.91m at Broad Arrow auction.

A 458 Speciale Aperta with 98 miles on the clock sold for $962,500 at Mecum. Less illustrious modern Ferraris also did well: a rare metallic brown Testarossa sold for $302,000, while two 512Ms went for more than $700,000. Gooding also sold a low-mileage 1994 Bugatti EB110 Super Sport for a new world record price of $3,167,500.

While RM Sotheby’s 1989 Ferrari F40 ‘Competizione’ (above right) failed to sell, it was mostly older Ferraris that missed their estimates. The star-billed 1955 Ferrari 410 Sport Spider (right) – described as “the best Ferrari bever built” – fell short of its $25m-$30m estimate at just over $22m, but that was still enough to catapult it into the Top 10 most valuable cars of all time. A Ferrari 250 California LWB, estimated at $7m-$8.5m, reached only $5,972,500 at RM’s auction. Gooding sold a 1961 Ferrari 400 Superamerica Series I Coupe Aerodinamico for $6m but failed to shift a 166 MM Berlinetta Le Mans and a 333 SP (offered post-auction at $5.25m and $4.25m respectively).

While Gooding sold a unique 1950 Gilco-Alfa Romeo 6C 2500 Supergioiello for $1,380,000, two other early classics failed to sell. An Alfa Romeo 6C 1750 Gran Sport remained on sale for $2.85m after the event, with a Lancia Aurelia B24S Spider at $1.4m.

Of the 21 Lamborghinis up for auction, only 12 sold; the highest price was fetched by Bonhams’ lime green Miura S at just shy of $2m. A 1984 Lamborghini Countach LP5000 S (right) sold for $1,061,000 but only one of three 25th Anniversary models sold (for $555,000). Six Maseratis had estimates over $1m but only three sold. A 1957 Maserati 200Si sold for $3,112,500, while a 1958 450S (above right) stopped at $6.9 million, well shy of its $9m-$11 target (but was sold after the auction for an undisclosed figure).