The 2016 Monterey Car Week wrapped up in August after showcasing billions of dollars of automobiles, including more than $330 million in cars sold at auction.
According to Hagerty Insurance Agency in Traverse City, Mich., a collector car and boat insurance specialist, 724 of the 1,273 available lots sold at the event, with sales totaling $339.7 million, a decline from 2015’s $396.8 million in auction sales.
Big-ticket sales, though a big chunk of the 2016 total, are declining faster than sales overall — though the overall sell-through rate for this year’s auctions was 56 percent, two percentage points lower than in 2015, the sell-through rate for cars priced above $100,000 fell from 72 percent in 2015 to 57 percent this year.
The top 10 care sold at Monterey’s auctions this year were dominated by vintage Ferrari racing cars, but records were also set for prices at auction for American- and British-built cars. (Editor's note: The following photos represent an example of each car, but not necessarily the specific vehicle that was sold at auction.)
10. 1955 Ferrari 750 Monza Spider by Scaglietti – $5,225,000
This car was driven by auto designer Carroll Shelby in the 1955 12 Hours of Sebring endurance race, where he and teammate Phil Hill propelled it to a second-place finish. After racking up several prominent racing victories, it was eventually bought by racing icon Jim Hall, who put the Monza Spider in storage for nearly 40 years.
9. 1950 Ferrari 166MM Berlinetta – $5,445,000
This unusual car started as a Ferrari Barchata, a racing car with an open roof, only to be later customized into a closed-roof Berinetta. The car survived sale through a used car lot and the death of its V-12 engine, which was eventually replaced. Though the car is unrestored, it was never parted from it’s original engine, which has been rebuilt and reinstalled in this former race winner.
8. 1956 Ferrari 250GT Berlinetta Competizione Tour de France – $5,720,000
This model was named for the Ferrari 250GT’s dominance in the 1950s runnings of the Tour de France Automobile, a three-day road race run from 1899 to 1986. This car, however, ran in a different legendary European road race, the Mille Miglia, a more than 1,000-mile jaunt through central and northern Italy.
7. 1932 Bugatti Type 55 Roadster – $10,400,000
The first car to sell for over $10 million at the 2016 auctions, this Bugatti was one of 14 cars built with the same body type—only 13 survive today. It’s believed to have been used as a personal car by designer Jean Bugatti.
6. 1933 Alfa Romeo 8C 2300 Monza Roadster – $11,990,000
This car is one of 190 8C 2300 chassis built—but since most of those cars ended up as luxurious touring vehicles, it’s a rare find. It’s racing history extended for over 60 years, and in the 83 years since it was built, the car has had just four owners.
5. 1960 Ferrari 250GT SWB Competizione – $13,500,000
The second of three 250GTs in the top 10 prices at the Monterey auction, this car placed seventh at the 1960 24 Hours of LeMans, the world’s oldest sports car endurance race, where it was driven by Augie Pabst III, the team owner of Pabst Racing Services and great-great grandson of Pabst Brewing Company founder Frederick Pabst.
4. 1962 Shelby Cobra 260 – $13,750,000 (RM Sotheby’s)
This was the first Cobra prototype built by legendary auto designer Carroll Shelby and it marks his first venture into the U.S. auto market. Originally an A.C. Ace sports car in the U.K., Shelby fit a Ford engine into the vehicle, laying the groundwork for the his iconic, high-performance variants of Ford’s Mustang sports car. This sale represents a record auction price for an American car.
3. 1959 Ferrari 250GT California LWB Alloy Spider – $18,150,000
The most expensive Ferrari among the lots at the Monterey auction, this 225GT is only one of nine cars of its kind. It was raced from 1959 through 1964 by its original owner, Goodyear tire distributor George Reed.
2. 1939 Alfa Romeo 8C 2900B Lungo Spider by Touring – $19,800,000
This restored and customized Alpha Romeo was considered rare enough to sell for nearly $20 million dollars. Never mind that the chassis and body might not be original to the car, and that at some point its frame was adjusted to put in a Chevy V-8. This sale set a price record for pre-World War II cars at auction.
1. 1955 Jaguar D-type Roadster – $21,780,000
The $21.78 million sales price of this classic Jaguar race car not only set a record for the most expensive Jaguar sold at auction, but also for the most expensive British car, eclipsing a 998 McLaren that sold for $13.75 million at last year’s auction. This particular car won the 1956 24 Hours of Le Mans.