RM Sotheby’s had strong first-day results at Monterey 2023 when seven “Lost and Found Ferraris”, including a wreck, sold for over a million dollars.
The highlight of the first day of RM Sotheby’s three-day Monterey 2023 classic car auction was the 20 Ferraris from “The Lost & Found Collection.” This collection of blue-chip Ferraris in varying states of disrepair brought about by Hurricane Charley in 2004 commanded an impressive total result of over $16.5 million. The two most expensive Ferraris from the collection were the 1965 Ferrari 275 GTB/6C Alloy selling for $3,305,000 and the 1956 Ferrari 410 Superamerica Coupe Series I achieving $2,810,000. Arguably the most remarkable result was for the remains of a 1954 Ferrari 500 Mondial Spider Series I — a wreck until the $1,875,000 result changed it into “a battle-scarred gem”.
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.
The Top 10 Lots of the Lost & Found Collection
The top ten most-expensive Ferraris from “The Lost & Found Collection” sold on the first day of the RM Sotheby’s Monterey 2023 classic car auction were:
- 1965 Ferrari 275 GTB/6C Alloy by Scaglietti $3,305,000
- 1956 Ferrari 410 Superamerica Coupe Series I by Pinin Farina $2,810,000
- 1954 Ferrari 500 Mondial Spider Series I by Pinin Farina $1,875,000
- 1956 Ferrari 250 GT Coupe Speciale by Pinin Farina $1,655,000
- 1978 Ferrari 512 BB Competizione $1,490,000
- 1967 Ferrari 330 GTS by Pininfarina $1,116,000
- 1965 Ferrari 275 GTS by Pininfarina $1,017,000
- 1964 Ferrari 250 GT/L Berlinetta Lusso $907,000
- 1971 Ferrari 365 GTB/4 Daytona Berlinetta by Scaglietti $500,000
- 1968 Ferrari Dino 206 GT by Scaglietti $456,000
Other Ferraris also achieved strong results in the auction including a model record $1,039,000 paid for a 2011 Ferrari 599 GTO — the first time this model sold for over a million dollars.
Top Ferrari Results from “The Lost & Found Collection” at RM Sotheby’s Monterey 2023
In 2004, Hurricane Charley wreaked havoc along the coast of Florida, causing widespread damage and exposing the forgotten Ferraris to the sunlight for the first time since 1990 when the barn they called home partially collapsed. Bearing the scars of debris from their dilapidated enclosure, the Ferraris were carefully relocated to a secure warehouse in Indianapolis, where they have since remained undisturbed.
This collection of 20 blue-chip Ferraris in varying states of disrepair came to auction as “The Lost & Found Collection” and the top three cars sold for well above expectations:
1965 Ferrari 275 GTB/6C Alloy by Scaglietti – Making its debut on the Ferrari stand at the XLVII Torino Motor Show, this 275 GTB participated in the 1966 Targa Florio with Luciano Conti (publisher of Italy’s Autosprint magazine) and co-driver Vittorio Venturi. Notably, this was the first “long-nose” 275 GTB to be fitted with a low-weight alloy body and six carburetors (Estimate: $2,000,000 – $2,500,000).
1956 Ferrari 410 Superamerica Coupe Series I by Pinin Farina — the 10th of only 12 produced, this car was originally displayed at the 1956 Paris Salon finished in a very rare Blu Artico (Estimate: $1,600,000 – $2,200,000).
1954 Ferrari 500 Mondial Spider Series I by Pinin Farina – the weathered chassis of this Ferrari 500 Mondial has the most extensive racing history of the 20 cars offered. Originally clothed in Pinin Farina Spider coachwork, it was sold new to Scuderia Guastalla principal Franco Cornacchia for the use of ex-Scuderia Ferrari driver Franco Cortese. Significantly, Cortese and co-driver Perruchini achieved 4th in class (14th overall) at the 1954 Mille Miglia. Subsequently rebodied by Scaglietti, further notable races include a Benzoni-Naust effort at the 1956 Targa Florio (Estimate: $1,200,000 – $1,600,000).
Monterey Week 2023 Classic Car Auctions
Top classic car auctioneers with sales during Monterey Week 2023 include Gooding (Pebble Beach), Bonhams (Quail Lodge), RM Sotheby’s, Broad Arrow, and Mecum.
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