No announcement yet.

Auctions: Pebble Beach cars with the best chance of breaking $10 million

  • Filter
  • Time
  • Show
Clear All
new posts

    Auctions: Pebble Beach cars with the best chance of breaking $10 million

    Filed under: Classics, Auctions

    Pebble Beach is "Shark Week" for the classic car crowd. While it may not be good to be a seal during Shark Week, it's great to be an auction house, a mobile detailer, caterer, tent rental firm or a parking garage owner on the Monterey peninsula during Pebble Beach Week in mid-August.

    This year brings a simply unprecedented group of hyper-expensive cars to the six auctions (RM, Gooding and Company, Russo and Steele, Mecum and Bonhams). Where last year shocked the classic car world with a total of $265 million in sales, nothing will shock this year from a market that exhibits the strength of not just Popeye's forearms but Bluto's as well, complete with animated locomotives, anvils and battleships.

    Totals of $350 to $400 million have been thrown about. How will the auction companies get there? Well, not with 7,000 fifty-grand cars. No, it will be done off the backs of the seven figure cars, and we estimate that up to 100 cars could sell for that amount or more. As many as ten cars could break $5 million. Here are our picks to be the top sellers of the week along with their pre-sale estimates when available:

    1. 1967 Ferrari 275 GTB/4 NART Spider (above)
    Pre-Sale Estimate: $14-17 million

    We might as well call a spade a spade here - this is the sexiest sports car on the planet. Period. Specially commissioned by East Coast Ferrari importer Luigi Chinetti, 25 were planned but only ten were completed. The last one sold in 2005 for just under $4 million, this one is expected to bring between $14 and $17 million, indicative of how far the market has come. If it breaks $16.4 million, it will rank as the second most expensive car ever sold at auction, behind the Mercedes-Benz W196 Grand Prix car that sold in London last month for $30 million. The consolation prize? Russo and Steele has a near identical car that may sell in the $3 million to $4 million range. The difference? The latter started out as a 275 GTB coupe that was converted to an open car. This car was also recently featured in an excellent mini-documentary for the web that tells its back story. (RM Auctions)

    Rob Sass is the Publisher of Hagerty Classic Cars magazine. He is a regular contributor to the automotive section of the New York Times and is the author of "Ran When Parked, Advice and Adventures from the Affordable Underbelly of Car Collecting."

    Continue reading Pebble Beach cars with the best chance of breaking $10 million
    Pebble Beach cars with the best chance of breaking $10 million originally appeared on Autoblog on Mon, 12 Aug 2013 15:01:00 EST. Please see our terms for use of feeds.
    Permalink | Email this | Comments
    I said in search of my botni, not in search of my bhootni. Please stop sending me PMs.