01 September, 2018

Record Sale at Monterey Car Week 

The Monterey Car Week is over! and there are some new records!  

During this event, classic cars find new owners and send shockwaves throughout the auction world because somewhere, a new benchmark has been set. 

The 2018 edition produced an array of surprises but the Ferrari 250 GTO overshadowed the entire spectacle when it hammered in for a colossal price.

Here, we will go through some of the biggest stories of the auction!

5) 1966 Ford GT40 MK II - $9,795,000 (£7,594,406)

The Ford GT40 MK II is an iconic car and performed one of the greatest feats in Le Man's history.

What this car achieved at the 1966 Le Mans is one-of-a-kind. Not only did Ford win Le Mans, not only did Ford relinquish Ferrari's 5-year stranglehold, they achieved it with a 1-2-3 finish!

Driven by Bruce McLaren, Chassis 1016 finished 3rd in the standings. However, Bruce and his team started the furthest back so officials awarded them the win because they covered the most distance.

Read about the famous race in our blog post: Le Mans Winning Ford GT40 MK II is up for Auction

4) Mercedes-Benz AMG CLK GTR - $4,515,000 (£3,500,637)

Mercedes competed in the 1997 FIA GT Championship against the mighty Porsche 911 GT1 and the iconic McLaren F1.

All the participants needed to satisfy the regulations which required 25 road models. As you can imagine, they are all highly collectable. 

Mercedes won the Constructora and Drivers' Championship and was aided by securing victories at Donnington, Sebring the A-1 Ring and others. 

With a top speed of 198 mph, the CLK could perform 0-62mph in 3.8 seconds from its mid-engined V12 engine churning out 612 HP.

This CLK-GTR was 9/25 and had 1,500 km on the clock.

3) 2014 LaFerrari - $3,305,000 (£2,562,482)

The LaFerrari is the worthy successor to the Ferrari Enzo. It has a monster 6.3L V12 Engine, capable of 950BHP and a reported top speed of 217 mph. It's adorned with F1 technology and illustrates groundbreaking design.

In our blog post: Not every sports car is a supercar, the difference between a sports car and a supercar was addressed and it was concluded that a Supercar will focus only on speed and nothing else. Another example of a Supercar is the Ferrari F40.

The LaFerrari is limited to 499 but Ferrari made an exception and created another to raise money for charity.

You can read about this in our blog post: The 500th LaFerrari has sold in auction to benefit Central Italy earthquake victims.

2) Aston Martin DP215 GT Competition Prototype - $21,455,000 (£16,634,812)

Originally designed for Le Mans, the journey this Aston Martin has endured is one for the history books. 

After winning across an array of different racing disciplines, Aston Martin stopped racing and focused on developing road cars.

However, commercial dealers of Aston Martin knew that car makers in competitive racing see an increase in demand.

This prompted Aston Martin to return to racing. They used the DB4GT as a basis and designed four project cars. 

The DP215 evolved from the DP212 which Graham Hill drove in the 1962 Le Mans and reached an impressive 175mph on the Mulsanne straight.

After its adventure in Le Mans, it was sold and over time heavily restored to its original spec as much as possible.

Trivia - The DP215 reached 198.6mph and became the first car to break 300 KPH. 

1) Ferrari 250 GTO - $48,405,000 (£37,530,090)

The best until last, the Ferrari 250 GTO.

In our blog post: Ferrari 250 GTO receives $45m Estimate, we explored the prospect of a £100m car. 

This car is beyond iconic. One of only 36 made, it steals the headline whenever it appears in an auction.

Trivia - The last 250 GTO sold in auction was in 2014 when it sold for £38m (£23m). 

Even though this sale did not eclipse the overall record, the auction benchmark has been eclipsed with an interesting precedent set for future sales!

Trivia - the record sale of a 250 GTO occurred earlier this year when it sold for $52m. You can read more about this in our blog post: Record £52m Sale for Ferrari 250 GTO.

Final Words

The Monterey auction contained so many stories, it's difficult finding a starting point!

Over $158m worth of cars were sold across the two-day auction and consolidates the classic car market as being resilient and increasingly popular. 

What was your favourite sale of the auction? Do you think there will ever be a £100m car? Hit the share button and let us know!

Head to The Journal Now for content.

Top 5 Car Sales at Monterey Classic Car Week - 2018
Top 5 Car Sales at Monterey Classic Car Week - 2018
Top 5 Car Sales at Monterey Classic Car Week - 2018
Top 5 Car Sales at Monterey Classic Car Week - 2018
Top 5 Car Sales at Monterey Classic Car Week - 2018