Car enthusiasts must have attended or at least must have heard of the Monterey Auction2016 which was held at the Pebble Beach Concours d'Elegance in California. Cited as one of the largest annual car bidding host, the location caters to the car lovers and collectors across the North America.
According to Car and Driver, the auction featured 724 different car models at the five-day live auction. AS per Hagerty Insurance, the total price of the vehicles displayed was roughly $339.7 million.
Among the five participants of the Monterey Auction 2016, Gooding & Company brought in the most money- $129.8 million for 114 cars. On the other hand, RM Sotheby's gathered $1.44 million average sale price and a $506,000 median.
Meanwhile, the website noted that Bonhams had the highest sell-through rate, at 88 percent while Mecum Auctions sold the most cars-310-at an average of $137,733 and a median of $46,500.
Lastly, Russo and Steele sold only one car for more than $1 million. But it is also a big help for the event. The annual event saw a record number of cars sold at over $10 million, with seven vehicles crossing that mark, representing a surprising 32% of total Monterey auction sales, as per Hagerty analyst Jonathan Klinger, via LA Times.
Check out the top 10 most expensive cars sold at the Monterey Auction 2016 below:
- 1955 Ferrari 750 Monza Spider by Scaglietti - $5,225,000 (RM Sotheby's)
- 1950 Ferrari 166MM Berlinetta - $5,445,000 (Gooding & Company)
- 1956 Ferrari 250GT Berlinetta Competizione Tour de France - $5,720,000 (RM Sotheby's)
- 1932 Bugatti Type 55 Roadster - $10,400,000 (Gooding & Company)
- 1933 Alfa Romeo 8C 2300 Monza Roadster - $11,990,000 (Gooding & Company)
- 1960 Ferrari 250GT SWB Competizione - $13,500,000 (Gooding & Company)
- 1962 Shelby Cobra 260 - $13,750,000 (RM Sotheby's)
- 1959 Ferrari 250GT California LWB Alloy Spider - $18,150,000 (Gooding & Company)
- 1939 Alfa Romeo 8C 2900B Lungo Spider by Touring - $19,800,000 (RM Sotheby's)
- 1955 Jaguar D-type Roadster - $21,780,000 (RM Sotheby's)