There seems to be no end in sight to the classic car boom. The auctions currently taking place in Monterey and Pebble Beach are the yardstick.
On August 16, 2013, RM Auctions auctioned off the first part of around 150 cars in the two-day auction, including, as usual, many rare and beautifully presented Ferraris as well as other exotic cars.
Some of the racing cars on offer achieved impressive prices, with the hammer falling on the 1958 Lister Jaguar "Knobby" at USD 1.8 million, the Ferrari 750 Monza Spider from 1955 reaching USD 3.7 million and the Ferrari 375 MM Spider from 1953 achieving USD 8.25 million.
More comparable to other auctions, however, are the prices for more "ordinary" classics, and here a Lamborghini 350 GT and a Ferrari Daytona showed what the American and international classic car market is like.
Ferrari Daytona in blue
The Ferrari 365 GTB/4 Daytona from 1973, which according to RM is one of the best examples ever, was only knocked down as lot 123 at USD 700,000, while the estimate was already an expensive USD 550,000 to 650,000.
With less than 25,000 original miles and an extensive restoration, the Daytona was certainly worth a high price, but it is surprising that the non-original color (the car is now blue and no longer Ferrari red) had no influence on the bidding.
Lamborghini's first 350 GT
A Lamborghini 350 GT from 1965, which reached the Miura price level, was also surprisingly expensive. The highest bidder for lot 136 went as high as USD 675,000, clearly beating the estimate of USD 450,000 to 550,000.
After all, this was a Pebble Beach Concours class winner and the color combination also flatters the early Touring Coupé.
It will be interesting to see whether things continue in a similar vein on the following evenings and at the Gooding & Company competition. Detailed reports on the two auctions will follow.
