Market Intelligence
Bonhams and Mecum in Monterey. To each his own strategy
Bonhams soars with $43.8M in sales led by hypercars, while Mecum faces decline but eyes recovery with a Ferrari 250 GTO in 2026.
During Monterey Car Week, Friday is auction day. How else to describe a day when five auctions are taking place simultaneously? There's RM Sotheby's, Gooding (which showed up in the red of its new owner, Christie's), Broad Arrow, Mecum, and Bonhams. We've had a good look at the first three in recent weeks, but this time it's time to take a look at the remaining two.
This year is a highlight for Bonhams: it quadrupled its turnover, from $11,302,060 to $43,868,640, despite offering fewer cars (90 vs. 107).
Who do we have to thank? The already numerous cars offered without reserve last year (66, equal to 61.68%) were even more numerous and special (67, equal to 74.44%). The percentage of cars sold was impacted by the opportunity offered by the many without reserves, reaching 87.77%—79 to be precise—in line with 2024.
