The following 3 auction houses all have classic car auctions coming up on the west coast of America with some highly valued classic cars for sale.
Bonham’s auction at Quail Lodge, Carmel, on August 16-17, Gooding & Co’s auction at Pebble Beach on August 18-19 and RM’s auction at Monterey on August 17-18.
A 1930’s Mercedes-Benz 540K Special Roadster was one of only 30 built and it may sell for over $16 million later this month in California. It may even exceed the auction world record of $16.4 million that was set last year following the sale of a Ferrari. It is forecast to easily exceed the $9 million that a Ferrari 250 GT California Spyder convertible is estimated to go for-there are three coming up in the above auctions.
The highest price that a car has gone for was earlier this year in a private sale of a Ferrari 250 GTO built in 1962 for Stirling Moss that was sold for $35 million.
”A lot of the major collectors of the last 30 years are getting old and other owners have seen prices rise and want to cash in. What happens this month is going to say a lot about the market.”
The Top 50 Benchmark Index of the The Historic Automobile Group International (HAGI) of exceptional classic cars has increased by 8.2% in the twelve months to July.
Dietrich Hatlapa, who is the founder of HAGI, who are a research company stated: ”Dealers across the board are saying that it is currently very difficult to get hold of quality cars,
”Owners are happy with what they have and would only sell if they find something else to buy with the money.”