Final day of Broad Arrow’s 2024 Monterey sale adds $31m+ to the total

Topped by a 1997 Porsche 911 GT1 racing car selling for $7m, Broad Arrow completed its second and closing classic car auction at the Jet Center. Combined, the two-day event looks like grossing over $56m. In 2023 at the same venue, that figure was $55.9m.

The sell-through on the night was another good 76% but big guns failing to fire – the Talbot-Lago ‘Teardrop’, Porsche 904 GTS, Porsche 959, ‘Daytona Spider’ and Mercer Raceabout – held the potential gross in check. Some cars, such as the non-selling Shelby Cobra 289, were just too expensive. Post-sale deals could see some of these entries sold.

At a glance (provisional):

* Gross, motor cars: $30,944,720
* Percentage sold by number: 76%
* Top-selling car: 1997 Porsche 911 GT1 Rennversion $7,045,000 gross, $6,400,000 net (est. $8.5m to $10.5m)        
* Well sold? Someone paid $417,500 for a red, albeit six-speed manual, Ferrari 550 Maranello
* Well bought? The Porsche GT1 went under its estimate, but is one of those cars that are not easy to find new owners for. Bidding never got going on the Talbot-Lago (pictured, top) and auctioneer Fenet passed it in the low-$4ms.

Other results of note:

* 1955 Mercedes-Benz 300 SL ‘Gullwing’, $1,545,000. Non-original colour inside and out, non-original Rudge wheels.
* 1973 Ferrari Dino 246 GTS, $626,500. 11,500 miles from new, original Grigio Ferrari paint mostly surviving on the car, original interior.
* 1948 Tucker ’48, $1,380,000. Sold pragmatically under low estimate.
* 1989 Ferrari Testarossa, $456,000. Delivery mileage only, described as “Possibly the finest preservation-grade Testarossa extant.”
* 1996 Porsche 911 GT2, $1,242,500. Delivered new to the Netherlands, later exported to Japan. Cut loose under $1.5m to $1.6m estimate.

You can download a complete lotlist of all cars offered by Bonhams, Broad Arrow, Gooding & Co and RM Sotheby’s sorted by make and model HERE.

Monterey Week 2024 auction schedule:

Mecum – sales Thursday 15 August to Saturday 17 August. Hyatt Regency Monterey Hotel and Spa, 1 Old Golf Course Road, Monterey, CA 93940. Gates open at 08:00. See mecum.com

Broad Arrow – sales Wednesday 14 August, Thursday 15 August. Monterey Jet Center, 300 Sky Park Dr, Monterey, CA 93940. Auctions at 17:30 Wednesday, 15:00 Thursday. Preview Wednesday, Thursday, Friday. See broadarrowauctions.com

Bonhams – sale Friday 16 August. Quail Lodge & Golf Club's West Field, 27050 Rancho San Carlos Road, Carmel, CA 93923. Auction at 11:00. Preview Wednesday, Thursday, Friday. See bonhams.com

Gooding & Co – sales Friday 16 August, Saturday 17 August. Pebble Beach Parc du Concours, Corner of Stevenson Drive and Portola Road, Pebble Beach CA 93953. Auctions at 16:00 Friday, 11:00 Saturday. Preview Wednesday, Thursday, Friday and Saturday. See goodingco.com

RM Sotheby’s – sales Thursday 15 August to Saturday 17 August. Portola Hotel & Spa and Monterey Conference Center, 2 Portola Plaza, Monterey, CA 93940. Auctions at 17:30 Thursday, Friday and Saturday. Preview Wednesday, Thursday, Friday and Saturday. See rmsothebys.com

Photos by K500