Auction house one-upmanship
It will be a wild and crazy week with no lack of heavy iron and some stunning new market prices.
July 2014 issue
The auction house arms race
Every year the various auction houses at Monterey compete for the most spectacular headline car, the highest price, the most market credibility. Until a few weeks ago the biggest news at Monterey was the return of Rick Cole auctions. For those who are pre-baby-boomers, Cole’s long history with collector-car auctions started in 1978, with Rick Cole Auctions. He held dozens of well attended annual auto auctions in Los Angeles, Newport Beach and Palm Springs, and in 1986 was the first, and for many years the only auction during the Monterey week. Rick’s auction features a very Ferrari-heavy offering including 275 GTB/C “Clienti Competizione” s/n 7477; 250 SWB s/n 3735 and 1955 Ferrari 410 Sport s/n 0592 CM, an eight figure Ferrari and easily the “headliner car” when announced.
Gooding and RM usually vie for the most spectacular headline Ferraris and this year was not a disappointment. In our Ferrari-focused world, RM’s announcement of Ferrari, 250 LM s/n 6045 is a headliner and will be another eight-figure Ferrari, while Mecum has 375 MM 0362 AM which will assuredly be yet another eight figure Ferrari. Gooding is expected to announce they have 365 P 3-Posti s/n 8971, yet another eight-figure Ferrari. RM is also expected to announce they have 275 GTB/C s/n 6701, one of three 275 GTB prototypes built for FIA homologation. It will be yet another eight-figure Ferrari. It will be a wild and crazy week with no lack of heavy iron and some stunning new market prices.
READ FULL ARTICLE AND MORE HERE