The Monterey Auctions results.
The last few years, hammer prices at auctions have definitely made people’s eye blink. Buyers seemed to have wallet’s as deep as the ocean. Sellers couldn’t cash enough. Even great collectors couldn’t resist the call for money (or whatever the reason was) and threw in their toys, like Jerry Seinfeld who sold part of his huge collection at Amelia Island last year. We all know that the Monterey Car Week and the Pebble Beach Concours d’Elegance brings together the top of the car collectors. So ofcourse everybody was curious about the results of the cars being auctioned at the different auction houses. The grand-total of all hammer prices combined(premium included) was close to an impressive $327,000,000. That means just a $1 million drop to last year. Not exactly a crash, isn’t it ?
Even on the Porsche market, there were no real surprises, with a few exceptions. Probably the only real surprise was the 1951 Porsche 356 Splitwindow that RM Sotheby’s sold for $925,000 (premium not included). That’s an amazing price for a pushrod engined Porsche 356. According to my records, this might even be a world-record. No real surprises when it comes to the other Porsche 356’s that were auctioned at the different auction houses, and it probably won’t surprise you either that people are paying heavier prices for unmolested barn-finds or the few cars that are restored into perfection.
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