Monterey Week Sales 2015: The final reckoning

Monterey Week Sales 2015: The final reckoning 21st August 2015

That’s it, folks, the ink’s dry on the Monterey press releases and, rather than the $400m gross that ‘confident’ pre-sale estimates suggested, totalise the three international houses’ final results and you get an all-in figure (that includes buyer’s premium) of $339.8m.

Then add in the handful of post-sale cars by RM with ‘Confidential’ prices, that’s probably another $5m, so let's say $345m max.

The figures below speak for themselves. Compared with 2014, more cars were offered, yet the gross is down and the numbers of cars selling below average estimate is up. Last year we had Bonhams’ Violati GTO and this year RM’s Pinnacle Portfolio, so one pretty well balances out the other.

Some stellar individual results – RM’s C-type, Gooding’s Bertone-bodied SWB, the McLaren F1, Gooding's Dino 206,  and strong figures for modern Ferrari hypercars – boosted the K500 index to new highs, but the hard data on nearly 400 cars and nearly $350m of transactions over four days of selling suggests that the market is finding newer, more realistic levels.

You can download all results, by make and model HERE.

2015 – Bonhams/Gooding/RM Sotheby’s aggregated (2014)

Total gross: $339,770,100 ($356,616,250)

Total number of cars offered: 392 (369)
Number of cars not sold: 48 (37)
Number of cars withdrawn: 3 (3)
Number sold: 341 (329)
        
Percentage cars sold by number: 87% (89%)
Percentage by value, average low/high estimate: 76% (75%)
        
Number sold above average estimate: 78 (114)
Number sold below average estimate: 255 (226)
        
Percentage sold by number above average estimate: 23.4% (33.5%)
Percentage sold by number below average estimate: 76.6% (66.5%)

Average age of cars sold: 1965 (1960)
Pre-War gross sold: $29.9m ($32.3m)

No GTO this year, but the 'Interim' 250 GT Berlinetta contributed around 20% of Bonhams' gross - and now heads to Europe
No GTO this year, but the 'Interim' 250 GT Berlinetta contributed around 20% of Bonhams' gross - and now heads to Europe

2015 Bonhams (2014)

Gross: $44.4m ($107.2m)

Total Number of cars offered: 111 (117)
Number of cars not sold: 15 (12)
Number of cars withdrawn: 1 (1)
Number sold: 95 (104)
    
Percentage cars sold by number: 86% (89%)
Percentage by value average low/high estimate: 73% (71%)
    
Number sold above average estimate: 20
Number sold below average estimate: 75
    
Percentage sold by number above average estimate: 21.1%
Percentage sold by number below average estimate: 78.9%

Superlative Charlie Ross despatches the Gooding $16.83m California Spider to a new home
Superlative Charlie Ross despatches the Gooding $16.83m California Spider to a new home

2015 Gooding (2014)

Gross: $128.1m ($106.0m)

Total Number of cars offered: 129 (117)
Number of cars not sold: 12 (12)
Number of cars withdrawn: 0 (1)
Number sold: 117 (104)
    
Percentage cars sold by number: 91% (88%)
Percentage by value average low/high estimate: 81% (68%)
    
Number sold above average estimate: 29
Number sold below average estimate: 85
    
Percentage sold by number above average estimate: 25.4%
Percentage sold by number below average estimate: 74.6%

RM's 250 LM from the mysterious PInnacle Portfolio was top selling car at Monterey 2015
RM's 250 LM from the mysterious PInnacle Portfolio was top selling car at Monterey 2015

2015 RM Sotheby’s

Gross: $167.3m ($143.4m)

Total Number of cars offered: 152 (129)
Number of cars not sold: 22 (11)
Number of cars withdrawn: 2 (0)
Number sold: 128 (118)
    
Percentage cars sold by number: 84% (91%)
Percentage by value average low/high estimate: 75% (80%)
    
Number sold above average estimate: 28
Number sold below average estimate: 95
    
Percentage sold by number above average estimate: 22.8%
Percentage sold by number below average estimate: 77.2%

Brilliantly liveried McLaren F1 went for $13.75m - the first non-Ferrari in the top ten
Brilliantly liveried McLaren F1 went for $13.75m - the first non-Ferrari in the top ten

2015 Top Ten by value:

1. RM Sotheby's 1964 Ferrari 250 LM $17,600,000
2. Gooding Ferrari 250 GT SWB California Spider $16,830,000
3. Gooding Ferrari 250 GT SWB Berlinetta Speciale $16,500,000
4. RM Sotheby's 1998 McLaren F1 'LM-Specification' $13,750,000
5. RM Sotheby's 1956 Ferrari 250 GT Berlinetta Competizione 'Tour de France' $13,200,000
6. RM Sotheby's 1953 Jaguar C-type Works Lightweight $13,200,000
7. Gooding 1982 Porsche 956 $10,120,000
8. Bonhams 1959 Ferrari 250 GT Alloy Berlinetta Competizione 'Interim' $8,525,000
9. RM Sotheby's 1959 Ferrari 250 GT LWB California Spider $8,500,000
10. RM Sotheby's 1950 Ferrari 275S/340 America Barchetta $7,975,000

You can download a pdf of all Monterey week sales, sorted by make and model HERE. Note: outlying, one-off sales, with extraordinary values boosted by celebrity ownership (RM 'Pope' Enzo), have not been uploaded to K500.

Photos by K500 - Strictly copyright