The top result at the Mecum Monterey 2018 sale was $3,850,000 paid for a 1933 Duesenberg Model J Convertible Coupe Disappearing Top Roadster.
Mecum sold ten cars for over a million dollar at the Monterey 2018 sale including two Duesenberg Model J convertibles. Top results also included three modern Ferraris – a LaFerrari, an Enzo and an F12tdf – and two major race-winning cars: a 1989 Porsche 962 (Daytona 24 Hours) and a 2012 Dallara DW12 Honda Indy Car (Indy 500). At least 16 million dollar bids were unsuccessful.
Mecum Monterey 2018 Collector Car Sale
The Mecum Monterey collector car auction was held on August 23 – 25, 2018, during the annual Monterey Motor Week in California, USA.
In 2018, Mecum earned $44.7 million by selling 360 of the 690 lots on offer (52%). The average sale price was $124,190.
In 2017, Mecum earned $32.1 million at Monterey with a 46% sell-through rate (296 of 645 lots sold). The average sale price was $108,478.
Top Results at Mecum Monterey 2018
The ten top results at the Mecum Monterey 2018 collector car sales were:
|Year||Car||Price $||Estimate ($)|
|1||1933||Duesenberg Model J Convertible Coupe Disappearing Top Roadster||3,850,000||3,200,000 – 3,500,000|
|2||2014||Ferrari LaFerrari||3,190,000||3,000,000 – 3,300,000|
|3||2003||Ferrari Enzo||2,860,000||2,900,000 – 3,100,000|
|4||1989||Porsche 962||2,200,000||2,200,000 – 2,500,000|
|5||1929||Duesenberg Model J Convertible Sedan||1,155,000||1,000,000 1,200,000|
|6||1969||Lamborghini Miura P400 S||1,155,000||1,300,000 – 1,600,000|
|7||2012||Dallara DW12 Honda Indy Car||1,127,500||1,175,000 – 1,250,000|
|8||1958||Mercedes Benz 300 SL Roadster||1,072,500||900,000 – 1,200,000|
|9||2017||Ferrari F12 TdF||1,045,000||1,000,000 – 1,250,000|
|10||1936||Auburn 852 SC Boattail Speedster||1,017,500||850,000 – 1,000,000|
|1987||Porsche 959 Komfort (Crashed)||467,500||450,000 – 550,000|
Million-Dollar Cars at Mecum Monterey 2018
Ten cars sold for a million dollar at the Mecum Monterey 2018 classic car sale:
Million-Dollar Duesenbergs at Mecum 2018
The top result at the Mecum Monterey 2018 sale was $3,850,000 paid for a 1933 Duesenberg Model J Convertible Coupe Disappearing Top Roadster, chassis J-386/2421 – a strong result well above upper estimate. The Duesenberg was purchased new by Academy award-winning actress Marie Dressler with LeBaron Convertible Sedan coachwork but was already upgraded to the unique Bohman and Schwartz coachwork a year later by its second owner, Hollywood director/producer Roy Del Ruth.
Just to show that the top result was not a fluke, Mecum sold a 1929 Duesenberg Model J Convertible Sedan for $1,155,000, while a $900,000 bid was not successful in buying a 1930 Duesenberg Model J Torpedo Phaeton.
The Duesenberg of the Monterey 2018 week was of course the 1935 Duesenberg SSJ sold for $22 million at the Gooding Pebble Beach 2018 sale to set a new record for an American car and for a prewar car.
Top Ferraris at Mecum 2018
Many modern Ferraris were available at Monterey but results were mixed with several failing to sell. The top Ferrari result at Mecum was $3,190,000 for a 2014 Ferrari LaFerrari while a second LaFerrari failed to sell despite a $3.2 million bid.
Mecum had the only Enzo of the week and it sold for a relative strong $2,860,000. Mecum also had the strongest F12 TdF result – the fifth one to achieve over a million dollar – but a second F12 TdF failed to sell despite a million dollar bid.
Other Top Results at Mecum Monterey 2018
A few other interesting results at the Mecum Monterey 2018 sale included:
The 1989 Porsche 962 won the Daytona 24 Hours race driven by Derek Bell. It has been offered at several auctions in recent years without finding a buyer. The accepted result was lower than previous rejected bids.
In addition to the Duesenbergs, Mecum also had a good result with the 1936 Auburn 852 SC Boattail Speedster – Gooding had a similar result for a similar car.
Only one Porsche 959 was on offer at all the Monterey week auctions in 2018 and it was a damaged one. The 1987 Porsche 959 Komfort was damaged when its transportation trailer broke loose and veered of the highway. It still achieved $467,500 and although it could be repaired (at great expense) it will never be as valuable as another 959 with only 3,657 miles on the clock. According to Hagerty, a Porsche 959 in concours condition should fetch around $1.3 million while one in fair condition is worth around $660,000.
Top Cars Not Sold at Mecum Monterey 2018
Mecum’s sell-through rate of just over 50% is significantly lower than those of catalogue auctioneers such as Gooding, RM Sotheby’s and Bonhams. This is largely due to much lower cost to vendors not selling a car due to reserves not met at Mecum. Some of the top cars for which the highest bids were not accepted at the Mecum Monterey 2018 sale included:
|Year||Car||Price $||Estimate ($)|
|1958||Porsche 550A Spyder||HB 2,000,000||4,500,000 – 5,000,000|
|1995||Ferrari F50||HB 3,000,000||3,700,000 – 4,200,000|
|2015||Ferrari LaFerrari||HB 3,200,000||3,250,000 – 3,500,000|
|1967||Ferrari 275 GTB/4 Berlinetta||HB 2,800,000||3,000,000 – 3,100,000|
|2017||Lamborghini Centenario LP770-4||HB 2,250,000||2,750,000 – 3,000,000|
|2014||Pagani Huayra||HB 2,200,000||2,500,000 – 2,700,000|
|2015||Bugattin Veyron Grand Sport Vitesse Roadster||HB 2,000,000||2,000,000 – 2,200,000|
|2015||Porsche 918 Spyder||HB 1,500,000||1,800,000 – 2,000,000|
|2008||Lamborghini Reventon||HB 1,500,000||1,700,000 – 2,000,000|
|2017||Ford GT||HB 1,600,000||1,700,000 – 1,900,000|
|2015||McLaren P1||HB 1,700,000||1,700,000 – 1,800,000|
|2012||Bugatti Veyron Grand Sport 16.4||HB 1,700,000||1,700,000 – 1,800,000|
|2010||Bugatti Veyron (Sang Noir)||HB 1,550,000||1,700,000 – 1,800,000|
|1965||Ferrari 275 GTB Long Nose||HB 1,500,000||2,000,000 – 2,500,000|
|1955||Mercedes Benz 300 SL Gullwing||HB 1,000,000||1,300,000 – 1,400,000|
|1965||Shelby 289 Cobra||HB 1,100,000||1,100,000 – 1,300,000|
|2017||Ferrari F12 TdF||HB 1,000,000||1,100,000 – 1,200,000|
|2008||Bugatti Veyron 16.4||HB 950,000||1,000,000 – 1,000,000|
|1930||Duesenberg Model J Torpedo Phaeton||HB 900,000||1,000,000 – 1,200,000|
The Duesenberg and Auburn results showed that Mecum certainly can sell cars usually associated with catalogue auctioneers but the miserably $2 million highest bid for the 1958 Porsche 550A Spyder showed buyers may not be willing to take a risk on a car that is available elsewhere too: RM Sotheby’s sold a 550A for $4.9 million and Gooding a 550 for $4.5 million during the same week.
Buyers may similarly question why a Ferrari 275 GTB is not offered at the big three if top dollar is expected.
Mecum has a good record on selling modern supercars. Several relatively high bids were received at Mecum Monterey 2018 with some near the lower estimates but not accepted.
The failure of all modern Bugattis to sell at the Monterey week 2018 auctions is particularly noteworthy. None of the six Veyrons – four at Mecum alone – or the Chiron at Bonhams were sold. Just as well for Bugatti that the 40 Divos were sold out before production started but the new owners may have to be patient if hoping for a quick return on investment.
The controversial 2017 Ford GT failed to sell with a highest bid of $1.6 million. The car was bought for $1,815,000 at the Mecum Indianapolis sale. Russo and Steele sold a similar car in Monterey for $1,540,000. As the sold car is apparently without the two-year selling restriction placed on other GTs, owners of the 250 cars produced may have to start lowering profit expectations.
More on Monterey Week 2018 Auctions
Monterey 2018 Auction Results
- List of the 69 Cars Sold for at Least a Million Dollar at Monterey 2018 (and 47 unsuccessful million-dollar highest bids).
- 2018 RM Sotheby’s Monterey Sale Auction Results
- 2018 Mecum Monterey Sale Auction results
- 2018 Gooding Pebble Beach Sale (Auction Results)
- 2018 Bonhams Quail Lodge Sale (Auction Results)
- 1962 Ferrari 250 GTO – Most-Expensive Car Ever Sold at Public Auction
- 1935 Duesenberg SSJ – Most-Expensive American and Most-Valuable Pre-War Car Ever Sold at Public Auction
- 2018 Bonhams Quail Lodge Sale (Auction Preview)
- 2018 Gooding Pebble Beach Sale (Auction Preview)
- 2018 RM Sotheby’s Monterey Sale (Auction Preview)
- 2018 Mecum Monterey Sale (Auction Preview)
Bonhams Quail Lodge 2018:
- Golden Age Automobiles: 1948 Talbot-Lago T26 Record Sport, 1931 Bentley 8-Liter Saloon and 1911 Mercedes 28/60 Tourer
- 1928 “W.O. Model” Bentleys: 6 ½ -Liter Open Sports Tourer by Barker & 4 ½-Liter Open Tourer by Vanden Plas
- 1962 Ferrari 250 GT SWB Berlinetta
Gooding Pebble Beach 2018:
- 1955 Ferrari 500 Mondial Series II: the only Ferrari factory team entry not to have raced in red!
- Unrestored Icons – the first production Bentley R-Type Continental, a Gullwing and garage-find Ferrari Lusso.
- Competition Ferrari Berlinettas: a 275 GTB/C, a 250 GT Tour de France, and a 166 MM/195 S Berlinetta Le Mans.
- 1935 Duesenberg SSJ – ex-Gary Cooper, ex-Briggs Cunningham
- Porsche Spyders – including a one-off 911 by Bertone.
- Coach-Built Italian Cars – Maserati A6GS/53 Spider, A6G/54 Berlinetta, Ferrari 330 GTC Special, Dino Berlinetta GT Prototype.
Mecum Monterey 2018:
RM Sotheby’s Monterey 2018:
- Pebble Beach Winners – 1934 Packard Twelve Individual Custom Convertible Victoria by Dietrich & 1927 Isotta Fraschini Tipo 8A S Roadster by Fleetwood
- 1956 Maserati A6G/2000 Zagato Berlinetta
- 1968 Porsche 908 K Works Racer
- 1966 Ford GT40 – third place at Le Mans
- 1962 Ferrari 250 GTO – expected to become the most-expensive car ever sold at public auction
- 1963 Aston Martin DP215 Grand Touring Competition Prototype – possibly the most-expensive Aston ever.
- Top Ferraris – 12 of 29 on offer have estimates above a million dollar.
- German racing cars: Mercedes Benz AMG CLK GTR & Porsche 550A