A 2001 Ferrari 550 GT1 Prodrive sold for $4,290,000 at the RM Sotheby’s Shift / Monterey sale as the most-expensive car ever sold in an online-only auction.
RM Sotheby’s achieved a new online-only auction world record when a 2001 Ferrari 550 GT1 Prodrive sold for an in estimate $4,290,000 — over a million more than the previous record. Seven cars sold for over a million dollar including four Ferraris. The 1932 Packard Deluxe Eight Individual Convertible Victoria by Dietrich sold for $1,056,000 as the most-expensive prewar car sold at any of the Monterey 2020 replacement auctions.
RM Sotheby’s Online-Only Shift / Monterey Sale 2020
RM Sotheby’s Online-Only Shift / Monterey Sale 2020 was an online-only classic car auction to replace the canceled Monterey Week 2020 sale. Bidding closed in stages between 13 and 15 August 2020 with live bidding, telephone, or commission bidding not possible.
RM Sotheby’s earned $30,412,810 from the Shift / Monterey 2020 sale — seven cars sold for over a million dollars each.
Top Results at RM Sotheby’s Shift / Monterey 2020 Sale
The top results at the RM Sotheby’s Shift / Monterey 2020 online-only classic car auction were:
|1||2001||Ferrari 550 GT1 Prodrive||4,290,000||3,850,000 – 4,850,000|
|2||1965||Ferrari 275 GTB/4||1,980,000||1,800,000 – 2,000,000|
|3||2014||Pagani Huayra||1,848,000||1,800,000 – 2,000,000|
|4||1964||Ferrari 250 GT Lusso||1,496,000||1,200,000 – 1,400,000|
|5||1991||Ferrari F40||1,386,000||1,250,000 – 1,500,000|
|6||1932||Packard Delux Eight Individual Convertible Victoria by Dietrich||1,056,000||1,000,000 – 1,250,000|
|7||1960||Mercedes-Benz 300 SL Roadster||1,045,000||1,000,000 – 1,200,000|
|8||1972||Porsche 916 Prototype||957,000||900,000 – 1,000,000|
|9||1980||BMW M1 Procar||913,000||600,000 – 800,000|
|10||1960||Porsche MOMO 356 RSR Outlaw by Emory||858,000||450,000 – 650,000|
Note: Results as observed during auction, check against final published list.
Million-Dollar Results at the RM Sotheby’s Shift / Monterey 2020 Auction
Ferraris again led the way at the RM Sotheby’s Shift / Monterey 2020 online only classic car auction:
2001 Ferrari 550 GT1 Prodrive
The top result at the RM Sotheby’s Shift / Monterey 2020 online-only classic car auction, and the most expensive car by far sold at all the Monterey Car Week 2020 (replacement) auctions, was a 2001 Ferrari 550 GT1 Prodrive that achieved a mid estimate $4,290,000. This also set a new world record for the most-expensive car ever sold in an online-only auction — previously the most valuable car sold online was a 1966 Ferrari 275 GTB Long Nose that achieved $3,080,000 at the Gooding Geared Online 2020 sale.
This Ferrari 550 GT1 Prodrive, chassis no. 108418/CRD02, was the second of only 12 built by Prodrive for Care Racing Development. The Ferrari was campaigned by BMS Scuderia Italia and amassed 14 victories in its division, as well as racing its way to a class victory at the 24 Hours of Spa in 2003, and more importantly, overall winner of the 2004 24 Hours of Spa, and the 2004 FIA GT Championship. The car retains its 2004 Spa winning engine.
1965 Ferrari 275 GTB
Of the two Ferrari 275 GTB cars on offer at the RM Sotheby’s auction, the cheaper 1965 Ferrari 275 GTB by Scaglietti sold for top of estimate $1,980,000. This concourse condition car is one of the first-generation short-nose versions. Bidding for the striking yellow 1967 Ferrari 275 GTB/4 by Scaglietti fell stopped just short of lower estimate.
1964 Ferrari 250 GT/L Berlinetta Lusso
A 1964 Ferrari 250 GT/L Berlinetta Lusso achieved a strong $1,496,000. This Lusso was part of a collection owned by well-known Italian sports car enthusiast, the late Dr. Raymond Boniface. It was purchased by Dr. Boniface in 1975 and was a familiar participant at concours and driving events staged throughout the USA—including a ‘First in Class’ win at the Concours d’Elegance of America at St John’s in 2017. Ths Lusso is finished in its original and rare color combination of Avorio over Rosso leather and fitted with its numbers-matching drivetrain, including the engine, gearbox, and differential.
1991 Ferrari F40
The Ferrari Classiche-certified 1991 Ferrari F40 sold for a good $1,386,000 (Est. $1,250,000 – $1,500,000). Like all F40s it was finished in legendary Rosso Corsa, has covered only 6,300 miles by just two previous owners from new and has been with its current consignor continuously for the last 20 years. It is one of only 213 US-speciation examples built.
A single-owner F40 with only 4,589 miles on the clock sold for a very strong $1,628,000 a few days earlier at the Gooding Geared Online Auction.
Other Top Results at RM Sotheby’s Shift / Monterey 2020 Sale
The 56th of just 100 bespoke 2014 Pagani Huayra examples produced between 2011 and 2016 sold for $1,848,000 at the RM Sotheby’s Shift / Monterey 2020 auction — to date at least 5 Huayras have achieved over $2 million. The extravagant Pagani Huayra gets its power from a 730 hp, 6.0-liter twin-turbocharged V-12 engine hand-assembled by Mercedes-AMG and paired with a seven-speed Xtrac automated manual gearbox. Originally delivered to British Motor Exotics of San Francisco, California, and exhibited at the 2016 San Francisco Chronicle Auto Show, the hypercar has a fully exposed carbon fiber body over premium Malevic and Ametista leather and equipped with an extensive list of factory options including black-painted wheels, custom caliper paint, and Tricolore mirrors. It has only 5,470 miles on the clock.
The 1932 Packard Deluxe Eight Individual Convertible Victoria by Dietrich was the most-expensive prewar car sold at any of the Monterey 2020 replacement auctions. It is one of only four survivors and was once in the Otis Chandler collection. It was restored in 2017 and has since earned Best of Show at the Morgan Adams Concours d’Elegance in 2016, followed by a 2nd in Class at Pebble Beach in 2018 and Best in Class at Amelia Island in 2019.
A 1960 Mercedes-Benz 300 SL Roadster sold for $1.045,000 while bidding for a second Roadster stopped at $870,000. These cars are again available in high numbers at classic car auctions making it a buyers market with only exceptional examples likely to sell for over a million dollars.
Some of the fiercest bidding and most-surprising results were amongst the less expensive cars, although the BMW and Porsche that just fell short of a million-dollar were both selling for well above estimate. The 1972 Porsche 916 was a special produced for Louis Piëch — sister of the famous Porsche engineer (later boss of Audi and VW) Ferdinand Piëch. A similar 1971 Porsche 916 Prototype Brutus driven by his daughter sold for $1,096,640 for in the Artcurial Paris Rétromobil 2016 sale.
Top Cars Not Sold at RM Sotheby’s Shift / Monterey 2020 Sale
Some of the top cars not sold at the RM Sotheby’s Shift / Monterey 2020 online-only sale included:
|1967||Ferrari 275 GTB/4||HB 2,300,000||2,500,000 – 2,800,000|
|1964||Ferarri 500 Superfast||HB 1,980,000||2,200,000 – 2,500,000|
|1971||Ferrari 365 GTB/4 Daytona Independent Competizione||HB 1,900,000||2,200,000 – 2,800,000|
|2005||Ferrari 575 GTZ Zagato||HB 1,500,000||1,800,000 – 2,200,000|
|1966||Ferrari 275 GTS||HB 1,400,000||1,600,000 – 1,800,000|
|1986||Porsche 962 IMSA GTP||HB 900,000||1,000,000 – 1,200,000|
|1957||Mercedes-Benz 300 SL Roadster||HB 870,000||1,100,000 – 1,200,000|
Note: Highest unsuccessful bids as reported by Hagerty.
Some cars came very close to lower estimate and many were listed as still for sale at prices hardly higher than the final unsuccessful bid. Some sellers may regret the reserve but than again the estimates were often low to reflect the weak market and for some sellers with no need to sell it may be worth waiting for more market clarity.
Monterey Motoring Week 2020
Most of the traditional Monterey Motoring Week events scheduled for mid-August 2020 were canceled. Gooding canceled the Pebble Beach 2020 Auction and replaced it with Geared, its first online-only auction ever. Bonhams Quail Lodge 2020 will be a live auction but behind closed doors (telephone, online, and commission bidding) while RM Sotheby’s plans a Shift/Monterey online-only auction.
Monterey 2020 Results
- Bonhams Quail Motorcar Auction Results (Quail Lodge replacement)
- Gooding Geared Online Sale Results (Pebble Beach replacement)
- RM Sotheby’s Shift / Monterey Online-Only Auction
Monterey 2020 Previews
Monterey 2020 Announcements
- Bonhams Quail California Streamin 2020 — 1959 Porsche 718 RSK
- Gooding Geared Online – Ferraris F40, F50 & Enzo
- Gooding Geared Online – Bugatti Type 57
- Gooding Geared Online — Gullwing and 911 Rally
- RM Sotheby’s Shift/Monterey — Early Highlights (500, F50, BMM M1)
- RM Sotheby’s Shift/Monterey – Competition Ferraris
Major Online Classic Car Auctions in 2020
Some of the major classic car online-only sales by major auctioneers in 2020 include:
- May: RM Sotheby’s Driving into Summer – Results
- June: RM Sotheby’s European – Results
- July: RM Sotheby’s Open Roads: European & North American
- September: Gooding London — Results, Bonhams Brussels Sale, RM Sotheby’s Auburn Fall (Sales from September onwards may be traditional auctions if conditions allow.)
- October: Gooding (Geared Online)