Monterey Car Week, centered around the prestigious Pebble Beach Concours d’Elegance, continues to be a beacon for automotive collectors and investors alike. This year’s auctions have once again proven that the demand for rare, historically significant vehicles remains strong, with several cars fetching prices that solidify their status as both cultural artifacts and sound investments. Between the five auction houses that hosted sales this year, they brought in a total of $391.6 million, down from from $403 million in 2023. Despite the drop, you still had to have at least $5.2 million to break into the top ten most expensive cars sold during the 2024 event.
10. 1958 Ferrari 250 GT TdF Coupe – $5,200,000
Rounding out the list is the 1958 Ferrari 250 GT TdF Coupe, which sold for $5,200,000 at Gooding & Company. The Tour de France, as it’s known, is a legendary model in Ferrari’s racing history, with victories that cemented its status as a top-tier collector’s item. The sale price reflects the ongoing appreciation for this model, especially among those who value its combination of racing heritage and aesthetic appeal.
9. 1967 Ferrari 275 GTB/4 Alloy Coupe – $5,285,000
The 1967 Ferrari 275 GTB/4 Alloy Coupe was another highlight at RM Sotheby’s, selling for $5,285,000. Known for its blend of beauty and performance, the 275 GTB/4 is one of Ferrari’s most celebrated models. The alloy body version is particularly rare, making this sale a significant event for collectors.
8. 1955 Ferrari 857 S Spider – $5,350,000
Gooding & Company’s auction also featured a 1955 Ferrari 857 S Spider, which sold for $5,350,000. This car, with its racing pedigree and historical significance, is a prime example of mid-century Ferrari engineering. Its sale underscores the strong demand for classic racing Ferraris, particularly those with a storied past.
7. 1995 Ferrari F50 Coupe – $5,505,000
The 1995 Ferrari F50 Coupe, a modern classic, fetched $5,505,000 at RM Sotheby’s. The F50, built to celebrate Ferrari’s 50th anniversary, is one of the last analog supercars produced by the marque, making it highly sought after by collectors who value driving purity and mechanical excellence.
6. 1959 Ferrari 250 GT LWB California Spider – $5,615,000
Another California Spider, this time the 1959 Ferrari 250 GT LWB, crossed the block at RM Sotheby’s for $5,615,000. While slightly less valuable than its SWB counterpart, the LWB version is still a highly desirable collector’s item, particularly for those who appreciate the elegance and engineering of late 1950s Ferraris.
5. 1997 Porsche 911 GT1 Rennversion Coupe – $7,045,000
Broad Arrow Auctions oversaw the sale of a 1997 Porsche 911 GT1 Rennversion Coupe for $7,045,000. As one of the most extreme road-going Porsches ever built, the GT1 Rennversion is a rare sight at auction. Its performance capabilities, combined with its limited production run, make it a prized possession for any serious Porsche collector. The strong sale price demonstrates the growing market for modern-era supercars with motorsport connections.
4. 1969 Ford GT40 Lightweight – $7,865,000
At Mecum’s auction, a 1969 Ford GT40 Lightweight sold for $7,865,000. The GT40, an American racing icon, is celebrated for its victories at Le Mans in the 1960s. The Lightweight variant, with its reduced weight and enhanced performance, is particularly sought after by collectors. This sale highlights the continued interest in historically significant American muscle cars, especially those with a strong racing lineage.
3. 1955 Ferrari 410 Sport Spider – $12,985,000
Another Ferrari, the 1955 410 Sport Spider, also made headlines at RM Sotheby’s, selling for $12,985,000. This model, one of only two factory-built spiders, is notable for its powerful 4.9-liter V12 engine and its role in motorsport history. The 410 Sport Spider’s rarity and racing heritage continue to drive its value in the auction market.
2. 1938 Alfa Romeo 8C 2900B Lungo Spider – $14,030,000
Coming in second is the 1938 Alfa Romeo 8C 2900B Lungo Spider, sold by Gooding & Company for $14,030,000. Often referred to as one of the most beautiful pre-war cars ever made, this Alfa Romeo is a testament to the exquisite craftsmanship of its era. With only a few examples in existence, the 8C 2900B represents a rare opportunity for collectors, and its sale price reflects its significance in automotive history.
1. 1960 Ferrari 250 GT SWB California Spider – $17,055,000
Topping the list is the iconic 1960 Ferrari 250 GT SWB California Spider. This particular model, renowned for its sleek design and powerful performance, fetched an impressive $17,055,000 at RM Sotheby’s auction. The California Spider’s combination of rarity, provenance, and timeless appeal makes it a perennial favorite among collectors. This sale underscores the enduring value of classic Ferraris, particularly those with a racing pedigree.
The 2024 Monterey Car Week once again demonstrated the robust market for rare and historically significant automobiles. These sales highlight the importance of provenance, rarity, and historical significance in determining the value of collector cars. For investors, the event reaffirmed that classic cars, particularly those with racing pedigrees, continue to be a valuable and appreciating asset class. As the market for these vehicles remains strong, it has dropped, though we can expect to see continued interest and competition among wealthy collectors in the years to come.
