Monterey’s Car Week gets going: the parties, the auctions

It’s the busiest week of the year for the classic car world, with Monterey Car Week getting ready to impress. It’s the celebration of all that’s fast, prestigious and shiny. Peter Singhof once again is doing the rounds for us, here are his best pictures.

Motorlux is Hagerty’s must-attend for all the big names in the classic car industry, from owners to brokers, to the enthusiasts willing to part with exorbitant amounts of money only to be allowed in. Motorlux is sold out well in advance.

For the young and wild

Situated at the Monterey Jet Centre, Motorlux combines the prestigious surroundings of the private aviation environment, and adds great food, drinks, and of course top-rate cars on display. The party style makes it a hit with a younger audience.

Auctions start

Broad Arrow – owned by Hagerty – uses Motorlux to kick off the auctions. This year, the results are eagerly awaited. Broad Arrow’s first auction day – Thursday  – once again showed the mixed bag we have been seeing at most classic car auctions this year. Stunning prices for some modern supercars – .2 million for a Maserati MC12 Stradale looks like a new world record for this car – whereas others downright disappoint. 6,400 for a 1955 Porsche 356 Pre A coupe – granted, it wasn’t the best ever, is a very low price.

No reserve

With a majority of the lots on ‘no reserve’ basis, the sales rate is high, but prices are not always great… from a seller’s point of view. For a buyer, it’s clear there are good deals to be done.

.38 million for Dave Letterman’s 1963 Ferrari 250 GT Berlinetta Lusso is the price this car would have fetched 5 to 10 years ago. There are very few certainties in the classic car market at the moment, apart from the popularity of more recent sports cars and supercars.

With more auctions coming – Christie/Gooding, RM Sotheby’s, Bonhams – we are eagerly awaiting what the race cars will do.