Latest OnLine Editon  Read Here

Classics continue to sell for record amounts

Classics continue to sell for record amounts Featured

MONTEREY, Calif. — The 2016 classic car auctions in Monterey, Pebble Beach and Carmel - the extravaganza of highly-prized, highly-priced cars held here each August - reported sales of some $340 million.

That’s a lot of money and vehicles changing hands in the space of a week.

Beautiful cars selling for seven- and eight-figure prices pushed the sales total for the Gooding & Company to a respectable $129,789,000. The top three sellers were Ferraris: a 1959 250 GT Competizione brought $18,150,000; a 1960 250 GT short wheel base Berlinetta sold for $13.5 million., and a 1950 Ferrari 166 MM went for $5,445,000.

Bonhams, with 115 cars listed for sale at its chic Quail Lodge site in Carmel, had sales of over $33 million. Its top seller: 1931 Bugatti Type 51 Gran Prix Racer at $4.0 million.

RM-Sotheby’s reported $117.9 million in total sales with 82 percent of cars sold. Top seller this year was the 1955 Jaguar D-Type, winner of the 1956 24 Hours of Le Mans, which brought in a total of $21,780,000 - an auction record for a British automobile, RM said.

An elegant 1939 Alfa Romeo 8C 2900B Lungo Spider drew a price of $19,800,000 and made the record books as the most valuable pre-war automobile sold at auction, RM said. A Shelby Cobra CSX 2000 sold for $13,750,000, an auction benchmark for an American car, according to RM Sotheby’s.

Mecum sales in Monterey totaled $50 million and Russo and Steele reported proceeds of $10.9 million.

Read 3539 times Last modified on Saturday, 10 September 2016 16:26
Florida Dealer Takes Home Top Prize

Florida Dealer Takes Home Top Prize

LAS VEGAS – Florida buy-here, pay-here dealer Scott Lanier was named the 2016 National Quality Dealer during the recent 70th annual National Independent Automobile Dealers Association Convention and Expo here....

Sale marks our Decades

Sale marks our Decades

The Greater Kalamazoo Auto Auction, an XLerate Group auction, recently celebrated its 40th anniversary with more than $15,000 in cash and prizes awarded to dealer customers who attended the sale....