A Ferrari 250 GTO sold for $48,405,000 and an Aston Martin DP215 for $21,445,000 as the top results at the RM Sotheby’s Monterey 2018 public auction.
The highest price paid at the RM Sotheby’s Monterey 2018 sale and all Monterey Week 2018 classic car auctions was $48,405,000 for a 1962 Ferrari 250 GTO. As a result, this Ferrari 250 GTO took the title as most-expensive car ever sold at public auction from a sister model and increased the record price by $10 million. The second highest result at the RM Sotheby’s Monterey 2018 auction was $21,455,000 paid for a 1963 Aston Martin DP215 Grand Touring Competition Prototype. The third highest price paid was $9,795,000 for a 1966 Ford GT40 Mk II that finished third at Le Mans. RM Sotheby’s sold 22 cars for more than $10 million and earned $158 million during the two-day sale.
RM Sotheby’s Monterey 2018 Sale
RM Sotheby’s Monterey 2018 classic car auction was held on 24 and 25 August 2018.
At the 2018 auction, RM Sotheby’s earned $158 million by selling 124 of 150 lots (83%). The average sale price was $1,270,903.
At the 2017 auction, RM Sotheby’s earned $133 million with a sell-through rate of 88% and 32 cars sold for over a million dollar. RM Sotheby’s three-day Monterey 2016 auction remained the highest grossing classic car auction ever with $173 million earned and 35 million-dollar cars sold.
Million-Dollar Cars at RM Sotheby’s Monterey 2018
The following 22 cars sold for over a million dollar each at the RM Sotheby’s Monterey 2018 classic car auction sale:
|Year||Car||Price ($)||Estimate ($)|
|1||1962||Ferrari 250 GTO||48,405,000||45,000,000 – 60,000,000|
|2||1963||Aston Martin DP215 Grand Touring Competition Prototype||21,455,000||18,000,000 – 22,000,000|
|3||1966||Ford GT40 Mk II||9,795,000||9,000,000 – 12,000,000|
|4||1957||Porsche 550A Spyder||4,900,000||4,600,000 – 5,000,000|
|5||1956||Maserati A6G/2000 Berlinetta by Zagato||4,515,000||4,250,000 – 5,250,000|
|6||1998||Mercedes Benz AMG CLK GTR||4,515,000||4,250,000 – 5,250,000|
|7||1934||Packard Twelve Indivitual Custon Convertible Victoria||3,745,000||4,500,000 – 6,000,000|
|8||2014||Ferrari LaFerrari||3,305,000||3,000,000 – 4,000,000|
|9||1971||Lamborghini Miura P400 SV||2,177,500||2,200,000 – 2,400,000|
|10||1963||Mercedes Benz 300 SL Roadster||1,930,000||1,650,000 – 2,000,000|
|11||2014||McLaren P1||1,820,000||1,700,000 – 2,000,000|
|12||1948||Tucker 48||1,820,000||1,800,000 – 2,100,000|
|13||1961||Ferrari 250 GT Series II Cabriolet||1,792,500||1,650,000 – 1,900,000|
|14||1963||Ferrari 250 GT/L Berlinetta Lusso||1,710,000||1,750,000 – 2,000,000|
|15||1990||Ferrari F40||1,710,000||1,400,000 – 1,600,000|
|16||1956||Bentley S1 Continental Drophead Coupe||1,655,000||1,200,000 – 1,600,000|
|17||1955||Mercedes Benz 300 SL Gullwing||1,435,000||1,450,000 – 1,650,000|
|18||1954||Mercedes Benz 300 SL Gullwing||1,380,000||1,400,000 – 1,600,000|
|19||1973||Porsche 911 Carrera RSH 2.7||1,380,000||1,300,000 – 1,600,000|
|20||1960||Ferrari 250 GT Series II Cabriolet||1,325,000||1,300,000 – 1,600,000|
|21||1961||Mercedes Benz 300 SL Roadster||1,297,500||1,300,000 – 1,500,000|
|22||1989||RUF CTR||1,022,500||1,000,000 – 1,200,000|
Note: Prices as published by RM Sotheby’s including premium.
Top Three Results at RM Sotheby’s Monterey 2018
1962 Ferrari 250 GTO – Most-Expensive Car in the World
The top result at the RM Sotheby’s Monterey 2018 classic car auction was $48,405,000 paid for the 1962 Ferrari 250 GTO, chassis 3413, to set a new world auction record for a car sold at public auction.
The opening bid for this 1962 Ferrari 250 GTO was $35 million, which would have been sufficient to take the title of most-expensive car in the world away from the 1962-3 Ferrari 250 GTO that sold for $38,115,000 at the Bonhams Quail Lodge 2014 sale. The final bid was slightly below the $45-60 million estimate indicating that the seller was not taken in by rumors that GTOs sold for $70 million privately.
Only 36 Ferrari 250 GTOs were ever produced with two the two most-expensive cars ever sold at auction. These are also the only two GTOs offered at public sales in the past decade or so.
The 1962 Ferrari 250 GTO, chassis 3413, was the third GTO produced. It was driven by Phil Hill in preparation for the 1962 Targa Florio but the car was sold to privateer Edoardo Lualdi-Gabardi, who raced it to the Italian Championship in 1962 by winning six races and taking first in class at a further five. The car later finished first in class at the Targa Florio in both 1963 and 1964.
See 1962 Ferrari 250 GTO – Most-Expensive Car in the World for more on this record-breaking car.
1963 Aston Martin DP215 Grand Touring Competition Prototype
The second highest price paid at the RM Sotheby’s Monterey 2018 sale was $21,455,000 for the 1963 Aston Martin DP215 Grand Touring Competition Prototype. The result was about a million dollar below the marque record $22,550,000 paid for a 1956 Aston Martin DBR1, which is still the most-expensive British car ever.
The 1963 Aston Martin DP215 Grand Touring Competition Prototype, chassis DP215, was the final of four development project cars built in the David Brown era. The car was incredibly fast: driven by Phil Hill it was the first car to exceed 300 km/h on the Le Mans straight. It also lapped the Le Mans circuit 12 seconds faster than a Ferrari 250 GTO. Unfortunately for Aston Martin, gearbox trouble forced the car’s retirement in the only two races it contested: Le Mans and Reims in 1963.
1966 Ford GT40 Mk II
RM Sotheby’s third highest result at Monterey 2018 was also for a car with racing experience: $9,795,000 paid for a 1966 Ford GT40 Mk II.
This 1966 Ford GT40 Mk II, chassis P/1016, finished the 1966 Le Mans 24 Hours race in third place behind two Shelby American GT40s.
This GT40 just missed out on joining the four other American cars that have sold for more than $10 million. The Ford marque record is still the $11 million paid for a 1968 Ford GT40 Lightweight (with a Steve McQueen connection) at the RM Auctions Monterey 2012 sale.
Top Porsche Results at RM Sotheby’s Monterey 2018
After huge numbers of Porsches sold at recent auctions, million-dollar Porsches were only available in limited numbers at the RM Sotheby’s Monterey 2018 sale:
A 1957 Porsche 550A sold for a strong $4,900,000 – the highest Porsche result of all the Monterey Week 2018 auctions. This price was only $270,000 for the model record set at Bonhams Scottsdale 2018 – a transaction that brought many more of this model to market. A 550 sold at Gooding for $4.5 million while a further 550A failed to sell when it could only attract a $2 million bid at the Mecum auction.
The only other million-dollar Porsche at RM Sotheby’s Monterey 2018 was a 1973 Porsche 911 Carrera RSH 2.7 that achieved $1,380,000. A Porsche-based 1989 Ruf CTR sold for $1,022,500 while a 1998 Ruf Turbo R Limited sold for $912,500.
A 2004 Porsche Carrera GT sold for $940,000 – the highest result RM Sotheby’s ever had with this popular model. Gooding similarly sold one above estimate but Mecum remained the only auctioneer to have sold a Carrera GT for more than a million (and did it on three occasions). Expect more Carrera GTs to again test the market in 2019.
Top Mercedes Benz Results at RM Sotheby’s Monterey 2018
The top Mercedes Benz result at the Monterey sales was a model record $4,515,000 for a 1998 Mercedes Benz AMG CLK GTR. This car was the 9th of only 25 cars produced as street-legal versions of the DTM racing car.
Two Mercedes Benz 300 SL Roadsters and two Mercedes Benz 300 SL Gullwings sold for relatively high prices. Other auctioneers similarly had good 300 SL results, which may encourage more to again test the market.
A Few Further High Results at RM Sotheby’s Monterey 2018
A few further top results worth noting at the RM Sotheby’s Monterey 2018 classic car auction:
A 1956 Maserati A6G/2000 Berlinetta by Zagato sold for a strong $4,515,000. This Maserati was the 11th of only 20 fitted with a Zagato body. The car participated in the 1956 Mille Miglia. The restored Maserati was awarded best in class at Amelia Island and Villa d’Este and second in class at Pebble Beach 2014.
A 1934 Packard Twelve Individual Custom Convertible Victoria by Dietrich sold for $3,745,000. It is a unique factory show car with LeBaron-style fenders that retained its original chassis, engine, gearbox and body. It was awarded best of show at the Pebble Beach in 2013 and St John’s in 2016.
Modern supercars were offered in relatively low numbers at the RM Sotheby’s Monterey 2018 sale. A 2014 Ferrari LaFerrari sold within estimate for $3,305,000 while a 1990 Ferrari F40 sold for above estimate $1,710,000. A 2014 McLaren P1 sold within estimate for $1,820,000.
Top Cars Not Sold at RM Sotheby’s Monterey 2018
The top lots failing to sell at the RM Sotheby’s Monterey 2018 classic car auctions included:
|Year||Car||Price ($)||Estimate ($)|
|1960||Ferrari 250 GT SWB Alloy Berlinetta Competizione||HB 8,893,500||9,500,000 – 12,500,000|
|1953||Ferrari 250 MM Berlinetta||HB 7,400,000||7,500,000 – 9,000,000|
|1954||Ferrari 375 America Coupe by Vignale||HB 3,250,000||3,500,000 – 5,000,000|
|1984||Ferrari 288 GTO||HB 2,550,000||2,750,000 – 3,250,000|
|1968||Porsche 908 Works Short-Tail Coupe||HB 2,000,000||2,300,000 – 2,800,000|
|1972||Ferrari 365 GTB/4 Spider Competizione||HB 1,700,000||2,300,000 – 3,500,000|
|1965||Aston Martin DB5 Vantage Convertible||HB 1,675,000||1,900,000 – 2,500,000|
|1966||Ferrari 500 Superfast Series II||HB 1,350,000||1,750,000 – 2,000,000|
|1927||Isotta Fraschini Tipo 8A S Roadster||HB 1,250,000||1,500,000 – 2,000,000|
|1933||Rolls Royce Phantom II Continental Fixed Head Coupe||HB 1,150,000||1,400,000 – 1,800,000|
Note: HB = unsuccessful highest bid as reported by Hagerty.
The highest unsuccessful bid at the RM Sotheby’s Monterey 2018 sale was $8,893,500 for a 1960 Ferrari 250 GT SWB Alloy Berlinetta Competizione – a similar car failed to sell at Bonhams for a similar bid.
Several highest bids came close to the lower estimate and it was surprising that no deals were done: the highest bid for the 1953 Ferrari 250 MM Berlinetta was only $100,000 away from the $7.5 million lower estimate.
While the 250 GTO set a new auction world record, the 1984 Ferrari 288 GTO seems to be treading water. If the highest bid was accepted, the result would have been barely higher than the prices RM Sotheby’s sold it for previously: $2,585,000 at the RM Sotheby’s Amelia Island 2016 sale and $2,750,000 at the RM Auctions Arizona 2015 sale.
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