CALIFORNIA
Check out the new California section

Topics

Guy Williams
'McQueen effect' set to boost '67 Ferrari at Monterey Car Week auction
'McQueen effect' set to boost '67 Ferrari at Monterey Car Week auction

Steve McQueen owned and raced exotic vehicles, in the movies and in real life. In the classic car world, that's good for business. At a Saturday auction during Monterey Car Week, a Ferrari owned by the King of Cool could sell for $10 million or more — an astronomical sum for a car that would usually sell for a fraction of that. In car circles, it's called the "Steve McQueen effect." Any vehicle the late actor owned can sell for three to five times its typical value. "He had a glamour that supersedes any other celebrity when it comes to the ownership of cars," said McKeel Hagerty, president and chief executive of the classic vehicle insurance...

Loading