The RM Sotheby’s Monterey 2018 auction was held August 24-25 at the Portola Hotel in Monterey, California, resulting in $157,931,940 in total sales and an 83 percent sell through rate. RM’s two-day auction total, an increase of 19 percent over 2017, represents the highest grossing auction of Monterey Car Week.
The highlight of the 2018 RM Sotheby’s Monterey event was a new record for the most valuable car ever sold at auction. The 1962 Ferrari 250 GTO sold for $48,405,000, exceeding the previous record by more than $10 million. The numbers-matching GTO, chassis 3413 GT, was offered with its original engine, gearbox, rear axle and factory Series II body after two decades in the collection of Gregory Whitten.
“The appearance of any one of the Ferrari 250 GTO, Aston Martin DP215, Ford GT40, or McLaren F1 and Ferrari 275 P on the Private Sales stand would be a major event, but to have them all together at Monterey this weekend was nothing short of historic,” said Kenneth Ahn, President, RM Sotheby’s, following the auction. “We are deeply appreciative of our clients who have entrusted RM Sotheby’s to offer some of the most significant motor cars to ever come to market, and equally grateful to our clients, enthusiasts, and media who traveled from all over the world to attend our sale. There was an unprecedented value of cars offered on the Monterey Peninsula this year, and it was very encouraging to see the level of strong demand across a broad range of great cars – a sign of strength that is very positive for our clients as well as the larger collector automobile market.”
Other notable moments included the one-off 1963 Aston Martin DP215 Grand Touring Competition Prototype that achieved a final $21,455,000 (est. $18m – 22m), becoming one of the most valuable British motor cars sold at auction. The last competition car built during the David Brown era, DP215 contested Le Mans in 1963 with Phil Hill and Lucien Bianchi behind the wheel, where it became the first automobile to break the 300 kph barrier at the event. RM Sotheby’s also took the opportunity to announce that the company will be partnering with Aston Martin in 2019, presenting an additional Thursday night auction during next year’s Monterey weekend, dedicated specifically to Aston Martin. As the official auction partner of Aston Martin, RM Sotheby’s will celebrate the marque’s 1959 win at Le Mans with an offering of road-going and track-ready cars.
Additionally, the 1966 Ford GT40 Mk II, chassis P/1016, part of the iconic trio of GT40s that swept first, second, and third overall at the 1966 24 Hours of Le Mans, reached $9,795,000 on Friday evening. The 1957 Porsche 550A Spyder soared to high estimate on Saturday to sell for $4,900,000, and a unique 1956 Maserati A6G/2000 Zagato racer fetched $4,515,000, a new record for the model at auction.
Modern super cars included a U.S.-spec 1990 Ferrari F40 selling for an above-estimate $1,710,000, and the one-of-25 1998 Mercedes-Benz AMG CLK GTR smashing the previous record for the model at $4,515,000. RM Sotheby’s was also proud to partner with Mercedes-AMG in Monterey to offer a never-raced 2017 Mercedes-AMG GT3 ‘Laureus’. The chrome finished GT3 sold for $885,000, with proceeds to benefit the Laureus Sport for Good Foundation.
RM Sotheby’s Monterey 2018 – Top 10 Auction Results
The RM Sotheby’s Group continues its 2018 calendar this week with Auburn Fall, a Labor Day weekend tradition featuring more than 750 cars at the Auburn Auction Park (30 August – 2 September), as well as the company’s 12th annual London sale, set for 5 September at Battersea Evolution and featuring the 1961 Aston Martin DB4GT driven by Peter Sellers in the 1963 film, “The Wrong Arm of the Law”. RM Sotheby’s also looked ahead to its Porsche 70th Anniversary Auction while in Monterey, where Porsche unveiled the Classic Series Project Gold to be offered at the Porsche Experience Center in Atlanta on 27 October.