RM’s $22.55m DBR1 tops the charts on first day of the Monterey Week sales

It was a good day for McLaren F1s and racing Astons, an average one for Ferraris and a disappointing one for pre-War classics.

The combined (provisional) gross for Bonhams, RM and Gooding today was $151.6m.

The US-spec McLaren F1 at Bonhams led the way after a tense bidding battle between a Hong Kong collector, a German and two Brits, one of whom prevailed at $14,200,000 ($15,620,000 with premium). The wonderful ex-Cunningham E-Type Lightweight just felt too expensive with a $9m reserve, while bidders didn't warm to the Maserati 300S that probably wasn't 'pure' enough to command top dollar. The totally rebuilt 250 GT TdF still didn’t look quite right, and even with a clear catalogue description of its convoluted history, still wasn’t priced keenly enough to sell.

Across at RM, as expected the Aston Martin DBR1/1 (pictured, above) sold, but for slightly more than most pundits had predicted, as did the much-admired ex-Works prototype DB4 GT racer ($6.77m). The unique Ferrari 'L'Uovo' didn't seem in its element in a 'Ferrari Classiche' certification-obsessed market and was good value at $4.51m. Among the unsolds, the rakish 1928 Mercedes-Benz S-Type was begging to be re-restored back to its sinister original livery after a 'wedding car white' 1990s rebuild, and will reward someone with vision and patience.

Gooding finally shifted the ex-Siffert Porsche 917K they first announced several years ago and withdrew pending further historic research. It turns out it never raced, but $14,080,000 for a 'pukka' 917K coupé has to be a keen deal for anyone who wanted one.

Let's see what tomorrow brings, but so far it's clear that a lot of work is going on behind the scenes – for example, just 45 minutes before the Cunningham ‘E’ crossed the block at Bonhams, RM announced that its steel Ferrari 250 GT SWB would now be sold without reserve.

At a glance:

Bonhams at Quail Lodge, 18 August 2017 – Provisional Results (2016)

Gross: $43,647,000 ($34,652,300)
Percentage cars sold by number: 73% (88%)
Percentage of cars met or sold below low estimate: 68% (63%)
Percentage of cars sold below avge of estimates: 81% (80%)
Percentage of cars sold met/exceeded top estimate: 11% (7%)

In a well-attended, hotly tipped sale, auctioneer James Knight started well, selling a long-nose alloy-bodied Ferrari 275 GTB for $3.08m with premium. The pace was slow: just 10 cars crossed the block in the first hour.

After the ex-Cunningham Jaguar narrowly failed to cross the finishing line, the level of no-sales increased. On the plus side, in addition to the F1, another highlight was an impressive $451k all-in for the pretty AC Ace-Bristol. The No Reserve Group B rally cars did well, though were generally scruffy. The collection was topped by the $484k Audi Sport Quattro S1.

RM Sotheby’s at the Portola Plaza Hotel & Spa, 18 August 2017 – Provisional Results

Gross: $62,785,250
Percentage cars sold by number: 77%
Percentage of cars met or sold below low estimate: 51%
Percentage of cars sold below avge of estimates: 77%
Percentage of cars sold met/exceeded top estimate: 23%

Compared with Bonhams, both RM and Gooding lacked that initial buzz and vibrancy, though things picked up for the Canadians when the DBR1 was heard revving outside the tent and RS Williams race mechanic Brett drove it across the block. Once sold, the crowd rapidly dispersed.

As a surreal comparison with the only market-average performance of mainstream classics, RM sold a tiny Peel P50 Microcar for a staggering $140,250 – a sum that comfortably topped that achieved by a recent ‘must-have’, a 1969 Porsche 911S Targa. The much-fancied, No Reserve ‘Harrah Hot Rod’ Daytona – a car ripe for restoration – experienced enthusiastic bidding, but nonetheless sold for a sub-low-estimate $687,500 gross.

Gooding & Co at Pebble Beach, 18 August 2017 – Provisional Results

Gross: $45,118,150
Percentage cars sold by number: 75%
Percentage of cars met or sold below low estimate: 63%
Percentage of cars sold below avge of estimates: 79%
Percentage of cars sold met/exceeded top estimate: 19%

Gooding’s big howitzer is the Ferrari 275 GTB/C that will cross the block on Saturday. Today, the limelight was taken by the Gulf-Porsche 917K.

As we predicted, the two ‘matching pair’ 300 SLs did well, the ‘Gullwing’ selling for $1,677,500 and its sister Roadster achieved $1,034,000. Both figures include buyer’s premium and were well in excess of estimates.

The Testarossa market showed it still has legs at Gooding’s tent when the F512M grossed $478,500. And LaFerrari watchers will take heart in one selling for $3,520,000.

All photos by K500