5 most expensive cars for sale at Pebble Beach

1958 Maserati

Source: Motorcar Studios ©2022 Courtesy of RM Sotheby’s

Classic cars auctioned this week in Monterey, California, are expected to break records.

Auction sales at Monterey Car Week are expected to be between $300 million and $490 million, according to Hagerty Automotive Intelligence, the classic auto insurance and collector’s lifestyle company. Experts say sales are likely to top the record at $395 million in 2015. Last year the total was $351 million.

According to Classic.com, a total of 956 cars will be auctioned this year at the five auction houses. Porsche and Ferrari lead the pack, with 100 Porsches and 93 Ferraris for sale. A record 149 cars will be offered this year for $1 million or more, and half a dozen cars are expected to fetch for eight figures, according to Hagerty.

Collectors and auction houses say the return of international buyers to Pebble Beach this year will only add to continued strong demand among US collectors. Demand, sales and prices are rising both online and at in-person auctions.

“The classic car auction market shows significant strength from both an online and live perspective,” said McKeel Hagerty, CEO of Hagerty. “In all respects, 2022 has been a record year so far.”

Live auction sales are up 53% from 2021, according to Hagerty, and online auctions are up 69% from last year. Nearly $2 billion worth of cars have been sold at auction so far this year, between live and online auctions.

Concerns about inflation, recession and a volatile stock market don’t seem to dent demand for classic cars, regardless of price, auction houses say. The vast wealth accumulated during the pandemic, coupled with a new, younger wave of collectors buying over the past two years, is driving demand.

In addition, a scarcity of used and new cars has pushed up prices for classic cars, sending auctions to records.

This spring, an ultra-rare 1955 Mercedes-Benz 300 SLR sold for $143 million — it became the most expensive car ever sold and redefined “expensive” in the classic car market.

CEO Hagerty said he expects bidding to be strong in most categories and eras.

“When we think about the Monterey auctions this weekend, we expect a strong bid for the ‘bookends’ – from pre-war cars, think Bugatti Type 57s and Mercedes-Benz 540Ks, to the modern but still analog supercars like Ferrari F40s. , F50s and Porsche Carrera GTs,” he said. “The fil rouge here are cars that have a high degree of innovation among their contemporaries. They can be driven, toured and enjoyed on modern roads, without question.”

This year’s show will feature the first live auction of Broad Arrow Group, the classic car sales company founded last year and just acquired by Hagerty. Top lots include a 1957 Ferrari 250 GT LWB Berlinetta Scaglietti “Tour de France” with an estimated value of $7 million, and a 1939 Mercedes-Benz 540 K Sindelfingen Spezial Roadster with an estimated value of $8 million.

“It’s part of our vision to build an ecosystem for all car enthusiasts,” Hagerty said.

Here are the top five cars, by estimated value, expected to sell in Monterey this week:

5. 1958 Maserati 450S from Fantuzzi,

1958 Maserati

Source: Motorcar Studios ©2022 Courtesy of RM Sotheby’s

Estimated Price: $9 million to $11 million

This racing maserati, auctioned by RM Sotheby’s, is part of the Oscar Davis collection and was one of 10 built. It won three SCCA regional events in 1958 and was restored in the late 1990s but retains much of its original mechanical equipment.

4. 1938 Talbot-Lago T150-C SS Teardrop Coupe by Figoni et Falaschi

1938 Talbot-Lago

Source: Motorcar Studios ©2022 Courtesy of RM Sotheby’s

Estimated Price: $9 million to $11 million

One of only 11 built and only known to be built specifically for racing, this Talbot-Lago “Teardrop Coup” completed the 1939 24 Hours of LeMans, later underwent a six-year restoration and won several awards as part of the Oscar Davis Collection. It is being auctioned by RM Sotheby’s.

3. 1937 Mercedes-Benz 540 K Special Roadster by Sindelfingen

1937 Mercedes-Benz 540 K

Darin Schnabel ©2022 Courtesy of RM Sotheby’s

Estimated Price: $9 million to $12 million

One of only three examples, this 540 K was delivered to the King of Afghanistan in 1937. The car has had several owners and has rarely been seen in public, with many of its original details. It is being auctioned by RM Sotheby’s.

2. 1937 Bugatti Type 57SC Atalante

1937 Bugatti Type 57SC Atalante

Copyright and courtesy of Gooding & Company, images by Mike Maez.

Estimated Price: $10 million to $12 million

This is one of the top examples of the sought-after Type 75S Atalante. Bugatti has only built 42 of the cars and no two are the same. Auctioned by Gooding & Co., this model went through several owners in Europe and the US before undergoing an extensive three-year restoration by owner Ray Scherr and winning several awards.

1. 1955 Ferrari 410 Sport Spider by Scaglietti

1955 Ferrari 410

Source: Patrick Ernzen ©2022 Courtesy of RM Sotheby’s

Estimated Price: $25 million to $30 million

One of the most important racing Ferraris ever built, this 410 was one of only two built and was driven by legends Juan Manuel Fangio and Carroll Shelby. Shelby won more races in this 410, known as “0598 CM”, than in any other car in his racing career. It is being auctioned by RM Sotheby’s.

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