Monterey is the place to watch for high-dollar sales. As far as the overall number…
Graph of the Week: Five Most Popular Makes Offered in Monterey
With so much money converging on Monterey in August, the auctions on the peninsula have become the most valuable lot space of the year. The auction companies are therefore only taking the most valuable cars they can, which has pushed out some of the common classics like Fords and Chevrolets to make room for more valuable cars like Ferraris and Porsches.
Domestic cars are not only less valuable on average than European sports cars, they also haven’t kept pace in terms of value increases. This trend really showed itself last year, when there were more foreign than domestic cars for the first time. In 2015, there were three foreign cars for every two domestic ones. 2011was acually the peak for number of domestic vehicles in Monterey, when the median price was $47,300. It has since steadily increased to over $90,000. As the Monterey auctions continue to be successful, increasingly valuable cars are being consigned by the auction houses. This means more cars in Monterey for high-end collections and less choice for the average enthusiast.