Classic-car fans and collectors headed to the Pebble Beach auctions may want to pack an extra checkbook: Almost half a billion dollars in sales are expected.
Hagerty's Insurance, which insures and tracks classic-car values, estimates that between Thursday and Aug. 17 at least $450 million in classic cars will be auctioned off.
"Some of the most interesting cars in the world are going to find a new home," said McKeel Hagerty, founder and president of Hagerty Insurance.
Each year thousands of haves and have-mores flock to the Monterey peninsula to celebrate classic motoring. The nearly week-long series of events culminates Aug. 17 with the annual Pebble Beach Concours d' Elegance, considered the most prestigious classic car show in the world.