Car Week 2020 Auction Sales Highlights
With both Gooding & Company and RM Sotheby’s holding their auctions exclusively online, and only Bonhams offering a live sale at Los Angeles’ Petersen Automotive Museum, the atmosphere was markedly different. Total sales were a relatively meager $57.4 million, with more than half that amount driven by RM Sotheby’s $30.4-million event. While those results may sound impressive for RM Sotheby’s given the circumstances, last year they alone sold $107 million.
Reduced Vehicle Offerings
Moreover, the total number of vehicles available this year was also down. In 2019, there were 543 vehicles offered across the three auction houses. This year, only 260 cherished automobiles were sent across the mostly virtual auction block, significantly less than previous totals. A look at the top 10 Car Week 2020 auction sales reveals that Ferraris claimed seven spots along with the top three winning bids. There is also an observable shift away from mid-century cars that typically dominated the sales charts, as only four of the top 10 sales were vehicles built before the 1990s.
Top Sales of Car Week 2020
Notably, this year’s top-selling entry, the 2001 Ferrari 550 GT1 Prodrive race car, sold for $4,290,000. This amount is significant, yet if sold last year, it would have clung to the No. 10 spot on Monterey Car Week’s top sales list, where nine other collector cars fetched higher bids. Despite these changes, here are the top sales from the 2020 “Virtual Car Week” auctions:
2001 Ferrari 550 GT1 Prodrive
This Ferrari model was commissioned by Care Racing Development and transformed into a race-winning machine capable of competing at the 24 Hours of Le Mans. Out of 12 Ferrari 550 GT1 Prodrive race cars built, this is the second example. Although it did not win at Le Mans, it claimed 14 race victories and achieved 15 pole positions in various competitions in the U.S. and Europe. This price reflects effective marketing by RM Sotheby’s, as it fell neatly within the pre-sale estimate.
1966 Ferrari 275 GTB
This second-series “long nose” Ferrari 275 GTB, originally sold in Italy, features a rare configuration with both a SOHC cylinder-head and desirable torque-tube driveshaft. With only 50,000 miles driven, the vehicle retains its factory paint and interior, contributing to its significant sale price—over a million more than a 1965 Ferrari 275 GTB sold at a rival auction.
2003 Ferrari Enzo
The Ferrari Enzo integrates a design philosophy prioritizing aerodynamic efficiency over aesthetic appeal. With an impressive performance profile featuring a top speed of 221 mph and a 0-60 time of slightly over three seconds, this model remains captivating nearly two decades since its release. Special-order features and fair mileage further added value to its sale.
1959 Porsche 718 RSK Spyder
The Porsche RSK, known for its mid-engine layout and superior handling, is a derivative of the earlier 550 Spyder design. Recognized for its racing prowess, this particular model boasts a rich history, including victory at the 1959 Bahama Speed Week, further enhancing its desirability among collectors.
1995 Ferrari F50
This high-mileage Ferrari F50, initially painted in Rosso Corsa, was repainted to Nürburgring Silver. Despite the repainting history, it holds vintage charm as one of the last truly “old-school” supercars, equipped with a naturally aspirated V-12 and a six-speed manual transmission. A car meant for driving, not merely for display.
1965 Ferrari 275 GTB
The 1965 Ferrari 275 GTB is a highly sought-after model, boasting a total production of only 442 units. Renowned for its restoration and certification by Ferrari Classiche, this model stands out among car collectors for its pristine condition and historical significance.
2014 Pagani Huayra
This Pagani Huayra features a powerful twin-turbo V-12 engine and showcases extraordinary craftsmanship. With over 5,500 miles, it has been utilized more as a driving machine than a mere collectible.
2014 Bugatti Veyron 16.4 Grand Sport Vitesse “Meo Costantini”
This Bugatti Veyron edition is incredibly rare, featuring unique design touches that honor its namesake. With a remarkable 1,200 horsepower, it stands tall among the most powerful hypercars ever produced.
1992 Ferrari F40
The Ferrari F40, once the pinnacle of performance, is significant for its limited production run and strong historical value. This particular model, with less than 5,000 miles, is a coveted find among collectors.
1964 Ferrari 250 GT/L “Lusso”
The Ferrari 250 GT/L is celebrated for its blend of style, comfort, and performance. This model holds notable provenance and has been meticulously maintained, which adds to its appeal in the collector market.
Auction Results Summary
RM Sotheby’s
- Total sales: $30.4 million
- Sell-through rate: 74 percent, with 109 automobile and motorcycle lots sold
- Top seller: 2001 Ferrari 550 GT1 Prodrive, $4,290,000
Gooding & Company
- Total sales: $14.5 million
- Sell-through rate: 68 percent, with 53 automobile and motorcycle lots sold
- Top seller: 1966 Ferrari 275 GTB, $3,080,000
Bonhams
- Total sales: $12.5 million
- Sell-through rate: 63 percent, with 98 automobile lots sold
- Top seller: 1959 Porsche 718 RSK Spyder, $2,232,500
