Dear Classic Car Enthusiast,
Weekends… whilst most people relax at weekends, all the big boys get together at some of them to see what bargains are around, and what classic car is making or will be making the headlines.
The Monterey week is typically not just the ‘best of the best’ concourse event, where the world’s greatest are shown, but the opportunity for other glamour shows, boulevard walks and club get-together to take place and be enjoyed by like-minded punters.
It is a meeting point for all the world’s leaders in the classic car arena, the ideal background against which to strut around showing off one’s goods... and what a show it is, with the famous 17 Mile driving through the private grounds and coastal road down past the Pebble Beach Golf Club, where the event comes to its end.
This is the time when three of the biggest classic car auction houses ‘do their stuff’, but just to make things even more intriguing, a fourth was launched this year and - my word - it just made things even more interesting!
Unsurprisingly, it was the talk of the week, alongside the usual topics of who had the highest number of cars sold, and who had the largest turnout. Is this a sustainable scenario? Only time will tell.
For now, the week still claims the largest number of classic cars sold over a few days, with over $238,600,000 passing hands, which is a truly startling figure. Where did all these people come from?
As for the cars, well, if it was red and came from Italy, it did well; Porsches were not that far behind and anything associated with James Bond, rang the bell. Post-show, it’s all back to work looking for the lots that were under-bid and finding them a suitable alternative.
Back to reality, pages of the contact logs are being flipped through to see if the next record can be achieved.
It’s still unclear why certain cars peak at different times: where does all the hype start and who is the ringleader? If we knew that the market would not be such a helter-skelter.
We shall never tire of repeating that cars with transparent, documented history are the ones to hold (and increase!) their values.
It’s a shame that so many remarkable cars on the market have little supported history to corroborate their DNA.
We are witnessing the rise and rise of even more on-line auctions, but it has not stopped good old-school dealers doing their stuff and sourcing very good stock. Well done, folks.
If you need uncomplicated advice on buying, selling, restoring or just good honest crystal ball reading, you know where we are.
Happy motoring and keep safe.