A 1957 Jaguar XKSS for $13.2 million was the most expensive of the 45 million-dollar results at the RM Sotheby’s Monterey 2023 classic car auction.
The most expensive car sold at the RM Sotheby’s Monterey 2023 classic car auction was a 1957 Jaguar XKSS that achieved a model record $13,205,000. Although the 1964 Ferrari 250 LM failed to sell, 45 cars achieved over a million dollars each to earn RM Sotheby’s $164 million in total in three auction days. RM Sotheby’s also surprised by presenting on show a 1962 Ferrari 330 LM / 250 GTO that will be on sale in New York in November 2023 and will likely be the second most expensive car sold at auction ever.
RM Sotheby’s Monterey 2023 Classic Car Auction
RM Sotheby’s flagship Monterey classic car auction during the annual Monterey / Pebble Beach motoring week: 17 to 19 August 2023 at the Monterey Conference Center in California, USA.
The Monterey sale is traditionally the most important car auction of the year:
- In 2023, RM Sotheby’s achieved $164 million with an 86% sell-through rate and selling 45 million-dollar cars.
- In 2022, RM Sotheby’s set a new auction total record of $239,258,340 selling 52 cars for over a million dollar and a 95% sell-through rate.
- In 2021, RM Sotheby’s earned $148.5 million at Monterey selling 43 cars for over a million dollar and an impressive 90% sell-through rate.
- RM Sotheby’s earned $30,412,810 from the Shift / Monterey 2020 online-only sale.
- In 2019, RM Sotheby’s earned $107 million, in 2018 $158 million (including $48,405,000 for the most expensive car ever sold at a Monterey auction, a 1962 Ferrari 250 GTO), in 2017 $133 million, and in 2016 $173 million.
Million-Dollar-Results at the RM Sotheby’s Monterey 2023 Sale
The following cars sold for over a million dollar at the RM Sotheby’s Monterey 2023 classic car auction:
|1||1960||Ferrari 250 GT SWB California Spider||SOLD|
|2||1959||Ferrari 410 Superamerica Coupe Series III||6,605,000|
|3||1937||Bugatti Type 57SC Tourer by Corsica||5,395,000|
|4||1967||Ferrari 275 GTB/4 (Steve McQueen)||5,395,000|
|6||1967||Ferrari 275 GTB/4 ‘Del Rio’||3,800,000|
|7||1933||Packard Twelve Individual Custom Convertible Victoria by Dietrich||3,305,000|
|9||1965||Ferrari 275 GTB/6C Alloy||3,305,000|
|10||1935||Duesenberg Model SJ ‘Sweep Panel’ Dual-Cowl Phaeton by LaGrande||3,030,000|
|11||1967||Ferrari 330 GTS||2,975,000|
|12||1953||Fiat 8V Berlinetta by Zagato||2,900,000|
|13||1972||Ferrari 365 GTS/4 Daytona Spider||2,865,000|
|14||1956||Ferrari 410 Superamerica Coupe Series I||2,810,000|
|16||1953||Fiat 8V Supersonic by Ghia||2,260,000|
|18||1954||Ferrari 500 Mondial Spider Series I (Wreck)||1,875,000|
|19||1955||Mercedes-Benz 300 SL Gullwing||1,737,500|
|20||1931||Duesenberg Model J Tourster by Derham||1,710,000|
|21||1988||Porsche 959 Komfort||1,710,000|
|22||1956||Ferrari 250 GT Coupe Speciale by Pinin Farina||1,655,000|
|23||1935||Mercedes-Benz 500 K Normal Roadster by Sindelfingen||1,655,000|
|25||1929||Bentley 41/2-Litre Short.Chassis Sports Tourer||1,600,000|
|26||1956||Mercedes-Benz 300 SL Gullwing||1,572,500|
|27||1933||Stutz DV-32 Convertible Victoria by Rollston||1,517,500|
|28||1997||Porsche 911 Remastered by Gunther Werks||1,501,000|
|29||1978||Ferrari 512 BB Competizione||1,490,000|
|30||2005||Porsche Carrera GT||1,490,000|
|31||1961||Mercedes-Benz 300 SL Roadster||1,462,500|
|32||1991||Porsche 911 Reimagined by Singer Classic Study||1,407,500|
|33||1962||Ferrari 250 GT Cabriolet Series II||1,380,000|
|34||2021||Ford GT Heritage Edition||1,380,000|
|35||1960||Mercedes-Benz 300 SL Roadster||1,270,000|
|36||1936||Lancia Asturia Cabriolet Series III Tipo Bocca by Pinin Farina||1,187,500|
|37||1965||Shelby 289 Cobra||1,160,000|
|38||1963||Shelby 289 Cobra||1,132,500|
|39||1967||Ferrari 330 GTS||1,116,000|
|40||1956||Chrysler 300B Coupe Speciale by Boano||1,105,000|
|42||2020||Ford GT Mk II||1,088,500|
|43||1957||Mercedes-Benz 300 SL Roadster||1,050,000|
|44||2011||Ferrari 599 GTO||1,039,000|
|45||1965||Ferrari 275 GTS||1,017,000|
NOTE: May include some post-hammer deals — the Ferrari 250 California Spider was announced sold during the auction after failing to sell with a highest bid of $8.6 million — the final price was not released. Check with RM Sotheby’s for accuracy.
Top Results at RM Sotheby’s Monterey 2023 Classic Car Auction
1957 Jaguar XKSS
The 1957 Jaguar XKSS, chassis 707, sold for a model record $13,205,000 as the top result at the RM Sotheby’s Monterey classic car auction after the 1964 Ferrari 250 LM failed to sell despite a highest bid of $17 million. This is the first Jaguar XKSS to achieve over $10 million and only the third Jaguar in this exclusive group. The other two are a 1953 Jaguar C-Type Works Lightweight sold for $13,200,000 at the RM Sotheby’s 2015 Monterey sale and a 1956 Jaguar D-Type, which was a Le Mans 24 Hours winner and sold in 2016 for $21,780,00 as the most expensive British car ever.
The 1957 Jaguar XKSS was one of the 16 cars Jaguar produced for street use on surplus D-Type chassis — for this car originally XKD 564. With an odometer reading of 25,535 miles, this remarkable 1957 Jaguar XKSS retains its originality and showcases its authenticity. The car displays its original serial number plate, chassis number stamping, gearbox, engine block, head, and rear axle.
1960 Ferrari 250 GT SWB California Spider
The 1960 Ferrari 250 GT SWB California Spider by Scaglietti, chassis 1883 GT, estimate: $9,500,000 – $11,500,000, was announced “sold” during the RM Sotheby’s auction but the highest bid of $8.6 million was not accepted before the hammer came down and it is still unclear whether RM Sotheby’s will release the sale price.
This California Spider was the second of 56 short-wheelbase examples built and one of 18 built with uncovered headlamps as well as one of three built without side vents; its rarity is further cemented as one of two examples fitted with a type 128 F engine.
1959 Ferrari 410 Superamerica Coupe Series III
RM Sotheby’s had a good $6,605,000 result with the 1959 Ferrari 410 Superamerica Coupe Series III by Pinin Farina — Superamericas often fail to reach prices that reflect their scarcity. This Superamerica was the fourth of 12 Series III examples built and one of only seven cars factory-equipped with covered headlights. The recently restored Ferrari was a Platinum Award-winner at the 2021 Cavallino Classic, class-winner at the 2020 Amelia Island Concours d’Elegance, and best of show-winner at the 2023 Cavallino Modena and the 2023 Concours d’Elegance Suisse.
1937 Bugatti Type 57SC Tourer by Corsica
Classic Bugattis generally struggled at Monterey 2023 but RM Sotheby’s had a sold $5,395,000 result on the 1937 Bugatti Type 57SC Tourer by Corsica. This Bugatti is one of only two 57S chassis originally provided with four-seat tourer bodies by Corsica. It was originally owned by Maurice Fox-Pitt Lubbock, who had to sell it when he became Vice-Chairman of Rolls-Royce in 1947. The car was bought at RM Sotheby’s Arizona 2021 for $4.7 million and has been completely restored since with invoices totalling around $700,000 on file — all in, the vendor probably lost out a bit but expectations were not much higher before the sale.
Steve McQueen’s 1967 Ferrari 275 GTB/4
Steve McQueen’s 1967 Ferrari 275 GTB/4 by Scaglietti sold at RM Sotheby’s for $5,395,000 — just within the estimate that was near double what a similar car without special provenance would sell for. It was offered from the estate of British collector David Moore, who paid $10,175,000 at the RM Auctions 2014 Monterey sale.
Other Noteworthy Results at RM Sotheby’s Monterey 2023
Of particular interest throughout the weekend was the performance of late model cars from the late 80s and beyond, demonstrating a marked desire for these highly optioned cars, with many models achieving final results well above estimate.
Buyers could not get enough of the iconic German marque Porsche, and reimagined models such as the 1997 Porsche 911 Remastered by Gunther Werks commanded $1.5M and the 1991 Porsche 911 Reimagined by Singer – Classic Study sold at $1.4M—both over their estimates. The highly original 1988 Porsche 959 Komfort sold for $1.7M, a staggering more than half million over its high estimate.
Porsches aside, a stunning white 2012 Lexus LFA broke a world record, selling over estimate at $1.1M. Not surprisingly, the Italian marque of Ferrari saw high demand, with a 2011 Ferrari 599 GTO selling for $1M (first for the model), and a 2005 Ferrari Superamerica selling for $978K—both over high estimates. Overall, these figures highlight the insatiable demand for younger and later-model sports cars. The rise of nostalgia for the late ’80s and ’90s era, coupled with the scarcity of well-maintained examples, also contributes to their appeal, which was evident throughout Monterey Car Week.
The barn-find Lost & Found Collection of 20 Ferraris sold for surprisingly high prices. Notably, the 1954 Ferrari 500 Mondial Spider Series I by Pinin Farina, a battle-scarred gem (wreck), fetched an astonishing $1,875,000, while the legendary 1965 Ferrari 275 GTB/6C Alloy by Scaglietti commanded an eye-popping $3,305,000. Additionally, the 1956 Ferrari 410 Superamerica Coupe Series I by Pinin Farina, showcasing its timeless beauty beneath the wear and tear, changed hands for a substantial $2,810,000.
The model record for a Fiat 8V was increased twice. First, a 1953 Fiat 8V Supersonic by Ghia increased the model record to $2,260,000 and later a 1953 Fiat 8V Berlinetta by Zagato increased the record to $2,900,000 in a post-hammer deal.
Top Cars Not Sold at RM Sotheby’s Monterey 2023
The top cars not sold at the RM Sotheby’s Monterey 2023 classic car auction were:
|Year||Car||Highest Bid ($)||Estimate|
|1964||Ferrari 250 LM||HB 17,000,000||18,000,000 – 20,000,000|
|2001||Ferrari 550 Maranello Prodrive||HB 7,400,000||8,000,000 – 9,500,000|
|1956||Porsche 550A Prototype ‘Le Mans’ Werks Coupe||HB 5,000,000||5,500,000 – 7,500,000|
|1955||Jaguar D-Type||HB 3,600,000||4,500,000 – 5,500,000|
|1952||Jaguar C-Type||HB 3,300,000||3,500,000 – 4,250,000|
|1933||Alfa Romeo 8C 2300 Cabriolet by Figoni||HB 2,900,000||3,000,000 – 3,500,000|
|1957||Maserati 200SI by Fantuzzi||HB 2,800,000||3,000,000 – 3,500,000|
Note: Highest Bid as reported by Hagerty. Some cars might have sold in post hammer deals.
There was surprisingly limited interest in the 1964 Ferrari 250 LM, chassis #6053 — the 22nd of just 32 built and raced at Le Mans in 1968. However, its in-period racing success was achieved in North America where it recorded four overall victories and a further class win in the 1965 BRSCC Season. It is one of the relatively few examples not to have suffered significant crash damage during racing. The 10th 1964 Ferrari 250 LM, chassis 5901, was sold in a special Artcurial auction in Paris in July 2023 for €15,771,200 ($17,164,664), after failing to sell with a reported highest bid of €20 million earlier in the year. This car was the 10th of 32 examples but had no in-period racing history.
Top Porsches failed to sell at all top auctions at Monterey / Pebble Beach car week 2023 — the highest Porsche result was relatively low but still a model-record $2,090,000 paid for a 1966 Porsche 906 at Bonhams Quail Lodge 2023.
Monterey Week 2023 Classic Car Auctions
Monterey Week 2023 Auction Results
- Top Ten Monterey Week Auction Results
- Bonhams: Quail Lodge Sale Results, 1967 Ferrari 412P
- Gooding: Pebble Beach Sale Results
- Mecum: Monterey Sale Results
- RM Sotheby’s: Monterey Sale Results, Lost & Found Ferrarir Results
Monterey Week 2023 Auction Previews
Monterey Week 2023 Pre-Auction Announcements
- Bonhams: 1967 Ferrari 412P Berlinetta
- Gooding: 1933 Bugatti Type 55 Roadster
- Gooding: Top Ten Ferraris (including a 250 GT SWB Berlinetta)
- Gooding: Top American Brass-Era Cars (including a Simplex and Mercer)
- RM Sotheby’s: Top Ten Ferraris (including a 250 LM and California Spider)
- RM Sotheby’s: The Lost and Found Collection of 20 Ferraris
- RM Sotheby’s: Steve McQeen’s 1967 Ferrari 275 GTB/4
- RM Sotheby’s: 1938 BMW 328 ‘Special Competition’ Roadster
Previous Monterey Week Auction Results