Mecum at Monterey: The start of a revolution?

Mecum has changed the game at Monterey, and it’s been a success. In any auction I’ve ever attended, and there have been many, the reserve price has always been a closely guarded secret. Well, Mecum announced them, making it easier for bidders to reach the winning price. The results show this decision paid off for Mecum, with significant improvements across the board compared to last year. More cars (418 vs. 321, +30%), more sales (244 vs. 174, +40%), and a higher sales percentage (up from 54.20% to 58.37%). The total value of the cars offered was lower, dropping from $91,090,000 to $60,330,000, but the total sales amount was impressive: up from $36,655,050 to $52,420,300.

At the top of the list was the 1969 Ford GT40 Lightweight, one of the most fascinating cars of Monterey Car Week, featuring an original racing engine, chassis, gearbox, and transmission, along with a lightweight body. It only lacked the Gulf livery to make it perfect (in terms of reaching $10 million). It sold for $7,865,000, but I wouldn’t change the livery—it would lose both its originality and the “sleeper” factor, making it look like a normal (well, relatively speaking) Ford GT40 while being a disguised monster.

1969 Ford GT40 Lightweight sold for $7,865,000 (€7,105,800).

While the Ford was expected to fetch a staggering amount, the second lot was the real surprise. The Dodge Hemi Daytona is an American icon, a product of the late '60s when NASCAR cars were stripped of their race stickers and became street-legal, often even more powerful than their racing counterparts. The example offered was likely the most significant ever made. Only 22 were produced with a manual transmission in 1969, and among all Daytonas, this one had the most options. Its condition was also concours-worthy, having just undergone a nut-and-bolt restoration. In January 2023, Mecum set the current record for the model at $1,430,000. It was perfect, but I never imagined it would sell for $3,360,000, more than double the previous record.

1969 Dodge Hemi Daytona sold for $3,360,000 (€3,035,500).

On this side of the Atlantic, the case of the two Porsche Carrera GTs deserves further analysis. Here’s the story: two Porsche Carrera GTs, both from 2005, both silver, one with a black interior and the other with a terracotta interior. The first (the black one) had only 786 miles on it, while the second had triple the mileage at 2,778 miles. If this sounds mysterious, you’ve guessed what happened in the auction room: the one with fewer miles stalled at $1,400,000, while the more used one went to a new owner for $1,732,500. Why? The only hypothesis I can make is that it depended on the auction day: the first was sold on Friday, the second on Saturday. But that's perhaps a bit of a weak explanation.

2005 Porsche Carrera GT sold for $1,732,500 (€1,565,250).

Moving down in price, we can’t forget the 1971 Plymouth Cuda 440/6 Hardtop, a magical year for the Cuda because they were only produced in January before being banned by law. Of the more common 440/6 models—like the one at auction—only 108 were made with a four-speed transmission and six carburetors. The auctioned car was freshly restored in the beautiful In Violet color, very much a 70s vibe. Despite the current record being $275,000, the estimate of $325-375,000 seemed ambitious, but the hammer fell at $390,500, setting a new record.

1971 Plymouth Cuda sold for $390,500 (€352,800).

Speaking of Plymouth Cudas, my compliments to the former owner of the 1970 Hemi Cuda Convertible, only 14 of which were made, who sold it very well. Purchased in January this year at Kissimmee for $2,145,000, the owner simply brought it to Monterey and sold it for $2,576,000, making a profit of $431,000 (though auction fees would have been deducted).

1970 Plymouth Hemi Cuda Convertible sold for $2,576,000 (€2,327,500).

I wanted to discuss the new record for a 1986 DeTomaso Pantera GT5-S ($352,000), the splendid 1962 Porsche 356B Super 90 Coupé ($226,600), or the near-record for a 2006 Ford GT Heritage Edition ($781,000, if the seller hadn’t thought it was worth much more), but I want to move on to the “Pebble Cheap”: lower prices, more fun?

I picked one car per auction: Broad Arrow’s Mercedes-Benz 300E 3.4 AMG Saloon. A 1991 model, black with a black interior and sunroof, one of the rare “pre-merger” AMGs. We know that Mercedes and AMG are shining these days, and the estimate of $80,000-100,000 seemed low. But when the hammer fell at $78,400, I wished I had made the last bid myself.

1991 Mercedes-Benz 300 E 3.4 AMG sold for $78,400 (€70,800).

Let’s move to Bonhams, where I chose a Lamborghini Jarama 400 GTS, a very rare model: only 150 produced. It has the Miura’s V12 engine, an automatic transmission, and had been sitting idle for over a decade. The estimate of $40,000-60,000 might have been pessimistic, but at $63,840, it’s an entry ticket to the golden world of Lamborghini. Of course, some money will be needed to make it perfect.

1976 Lamborghini Jarama 400GTS sold for $63,840 (€57,700).

RM brought a parade of millionaire cars, but as soon as I saw the 1965 Rolls-Royce Phantom V Limousine, my heart was captured. At the time, it was the most expensive car in America and was sold new to New York banker George Stewart, who ordered it with air conditioning, an electric antenna, and longer windshield wipers. In an elegant dark green livery with a cream interior, it was perfect for attending one of the weekend’s parties. Estimated at $90,000-120,000, it was sold for $56,000 due to its restoration dating back to the 1980s.

1965 Rolls-Royce Phantom V Limousine sold for $56,000 (€50,500).

The 1956 Alfa Romeo Giulietta Sprint, therefore eligible for the 1000 Miglia—a significant benefit for its value—was my pick from Gooding. Beautiful in Capri Blue and with matching numbers, it was estimated at $100,000-130,000. It went for only $61,600, what a pity.

1956 Alfa Romeo Giulietta Sprint sold for $61,600 (€55,500).

From Mecum, a symbol of American collecting, I chose a beautiful Packard 120 Convertible Sedan. A 1936 model, in a stunning metallic green, a true “gentleman’s car.” Not to mention its 8-cylinder engine. All of this for $55,000. Question: among these five “bargain stars,” which would you have chosen?

1936 Packard 120 Convertible Sedan sold for $55,000 (€49,500).