June 15, 2024

Linkage Mag

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RM Sotheby’s Totals $164m in Monterey

This year marked the 26th edition of RM Sotheby’s annual Monterey auction, this year headlined by a strong grouping of classics, collectibles and barn finds.

Over three nights at the Monterey Conference Center, bidders from over 40 countries converged to build what became the third most successful RM Sotheby’s Monterey auction in the history of the event. 

In total, the company sold 86% of the lots on offer for a combined total of $164m. The high sale of the event was a 1957 Jaguar XKSS at $13,205,000, followed by a 1959 Ferrari 410 Superamerica Coupe Series III by Pinin Farina at $6,605,000. 

1957 Jaguar XKSS

The Lost & Found Ferrari Collection drew special attention throughout the week, thanks only in part to its creative presentation in RM Sotheby’s lot, complete with wood scraps, old tires and one curated raccoon. In total, these cars brought $16.7m, with the crumpled 1954 Ferrari 500 Mondial Series I by Pinin Farina bringing $1,875,000.

1954 Ferrari 500 Mondial Series I by Pinin Farina

Apart from the barn find cars, Steve McQueen’s 1967 Ferrari 275 GTB/4 traded hands for $5,395,000.

1967 Ferrari 275 GTB/4

“Following last year’s incredible success in Monterey, we are quite pleased with our team’s ability to source an incredible group of cars, ranging from pre-war classics through to modern day hypercars” said Gord Duff, RM Sotheby’s Global Head of Auctions. “The results speak for themselves, with final sales totals ranking this year’s auction as the third most successful in our company’s history. It was great to see the reaction to the presentation of the Lost & Found Collection, and even greater to see incredible prices realized for these important Ferraris.”

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