Pebble Beach 2016: Saturday night auctions fail to meet 2015 levels
Auction action on the run-up to Pebble Beach was more lively Saturday night, generally the biggest night of the Monterey Car Week sales events, with cumulative totals now at $288 million.
That figure was reached largely on the backs of Italian cars. Saturday night’s RM Sotheby’s auction saw a 1939 Alfa Romeo, from the collection of Sam and Emily Mann, go for $19.8 million, while the Gooding gavel came down on a 1959 Ferrari 250 GT California at $18.1 million and a 1960 Ferrari 250 GT Competizione Could at $13.5 million.
The classic car insurance company Hagerty, which compiles auction figures through the weekend, said the cumulative figure was still well below last year’s hearty $332.9 million.
Gooding and Co. was top house, with Saturday totals of $76 million. Other big sales included several Ferraris, Lamborghinis and Maseratis, as well as a 1979 Porsche 935 Coupe that sold for $4,840,000
Sotheby’s was just behind Gooding, with Saturday totals of $57.9 million. That figure would have been considerably higher but for the disappointing no-sale on a highly anticipated 1958 Ferrari 250 GT that was expected to sell for $12 million to $14 million. The bidding went slugglishly to $9 million and stopped below the seller’s reserve price.
Mecum sold $33.6 million in vehicles, including a very late model 2014 Ferrari La Ferrari, at $5.2 million, and a 1966 Ford GT40 that sold for $4.8 million.
Russo and Steele moved $5.8 million in merchandise, including a 1955 Mercedes-Benz 300SL Gullwing Coupe that went for $1.1 million.
The final auction of the Monterey weekend is a Gooding event that is held following the Pebble Beach Concours d’Elegance.
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