It’s been a rough few years for the collector car hobby, as the economic downturn has impacted sales at the major auction houses. This year, hobbyists held their collective breath to see if protracted recession would still make a dent in sales in Monterey. You could almost hear the sigh of relief by August 15; the market showed an impressive rebound with $172 million in sales for the week.
RM brought in $67 million – up $32 million from 2009 – with a 95 percent sell-through rate. 16 cars sold for more than $1 million, led by a 1938 Talbot-Lago T-150 teardrop that brought in $4.62 million. Gooding raked in nearly $65 million, with the highest average sale price per car by far: 106 lots went home with new owners for an average $609,000 per car. Six of the top 10 sales of the weekend came out of Gooding's auction.
The gallery above are the top 10 sales of the week.