After four days of moving $450 million worth of metal masterpieces in Monterey, what we now know is that realism has finally hit the middle range of the mega auction market.
While there were some records set, just 10 cars accounted for nearly 40 per cent of the total sales. Five of those were 1950s Ferraris and 45 per cent of the cars offered by the five auction houses were not sold. Bottom line is, in US dollars, values of all but the very best cars are going down and sellers need to get realistic if they are going to sell at auction.
In the Ferrari department, Dave Gooding got away a 1959 250 GT California LWB Alloy Spider for $24m, a 1960 250 GT SWB Competizione Coupe for $18m and a 1950 Ferrari 166 MM Berlinetta for $7m.
But sale of the century and a salve to the former greatness of not so Great Britain was the 1955 Jaguar D-Type Roadster, which crossed the block for $28.5m, a record for a British automobile at auction. The 1956 Le Mans-winning D-Type, probably the most important Jaguar ever made, had four punters ferociously bidding for 15 minutes.
Then RM Sotheby's took the highest price for an American car, the very first Shelby Cobra, which at $18m was a record high for a Yank tank. Carroll Shelby built and kept this car from new.