The $10 Million Club: High-Profile Cars Set to Command Big Bucks at Monterey Auctions [Update]
Update: The results are in, and some sellers might be feeling a bit deflated. Only one car from the list managed to hit its pre-auction estimate, while three cars failed to sell entirely. We’ve updated this article with the final sale prices for the cars that did sell.
Monterey Car Week is unlike any other automotive event, operating in a league of its own. Where a million-dollar sale might be considered a bargain elsewhere, in Monterey, it’s just another day at the office. This year’s auctions in central California have once again attracted some of the world’s most valuable and rare cars, and we’ve sifted through them to identify the potential showstoppers.
In 2024, seven cars were pegged to potentially break the $10 million mark, with Ferrari leading the charge. However, a familiar rival could claim the title of the most expensive car sold at this year’s auctions. Bidding for some of these machines could easily top $20 million, even in a market catered to the ultra-wealthy.
Here’s a look at the $10 million club for Monterey Car Week 2024 based on pre-auction estimates, along with updates on final sale prices once the dust has settled.
1997 Porsche 911 GT1 Rennversion
- Estimate: $8.5-$10.5 Million
- Final Sale Price: $7,045,000 (Broad Arrow Auctions)
This striking 911 GT1, one of just nine customer examples ever built, combines motorsport history with a vibrant Rohr Racing livery. Despite its racing pedigree, including participation at Le Mans, it didn’t quite reach its lofty estimate. Sold at Broad Arrow Auctions on August 15.
1937 Bugatti Type 57SC Atalante
- Estimate: $9-$11 Million
- Did Not Sell: Asking Price $9,750,000 (Gooding & Company)
Classic Bugattis are always coveted, and this example is no exception. One of only 17 cars with the Atalante body, it’s powered by a smooth 200-horsepower straight-eight engine. With an impressive first-in-class win at Pebble Beach Concours d’Elegance in 2023, this car was one of the star attractions at Gooding & Company’s auction on August 16 and 17—but it failed to sell.
1957 Ferrari 625 TRC Spider by Scaglietti
- Estimate: $9-$11 Million
- Did Not Sell: Price Available Upon Request (RM Sotheby’s)
A true racing legend, this Ferrari has an extensive history of competition. Although it originally came with a 2.5-liter four-cylinder engine, it now sports a 3.0-liter V12—though the original engine is included with the sale. This Ferrari’s rarity and racing legacy didn’t attract a buyer at RM Sotheby’s auction on August 16.
1961 Ferrari 250 GT SWB California Spider
- Estimate: $15-$17 Million
- Did Not Sell: Starting Bid $7,500,000 (Gooding & Company)
This first of two California Spiders on the list comes from Gooding & Company. Originally painted blue, it was repainted red in 1968 and has passed through several owners over the years. Despite the high estimate of $15 million, bidding didn’t meet expectations, and it failed to sell on August 16.
1960 Ferrari 250 GT SWB California Spider
- Estimate: $16-$18 Million
- Final Sale Price: $17,055,000 (RM Sotheby’s)
Described by RM Sotheby’s as the “finest, most important 250 GT SWB California Spider available,” this car made headlines for being the first ever built, and for its history as the star of Ferrari’s 1960 Geneva Motor Show exhibit. It fetched an impressive $17,055,000 when it sold on August 17.
1938 Alfa Romeo 8C 2900B Lungo Spider
- Estimate: $16-$20 Million
- Final Sale Price: $12,750,000 (Gooding & Company)
One of only five examples of this iconic Alfa Romeo in existence, this beautifully preserved 8C 2900B Lungo Spider has a rich history, including a first-place win at Pebble Beach. Although its pre-auction estimate suggested it could break $20 million, it ultimately sold for $12,750,000 at Gooding & Company’s August 16 event.
1955 Ferrari 410 Sport Spider by Scaglietti
- Estimate: $15 Million+
- Final Sale Price: $12,985,000 (RM Sotheby’s)
This Ferrari is a fascinating hybrid of race car and roadster, originally created as a prototype for the 410 Sport Scuderia. Notably, it was driven by none other than Carroll Shelby. Its unique history and pedigree earned it a high estimate, but it sold for $12,985,000 at RM Sotheby’s auction on August 17, just shy of its predicted value.
Monterey Car Week once again proved to be the ultimate stage for some of the world’s rarest and most valuable cars. While some cars exceeded expectations, others fell short, leaving a few sellers to reflect on the results. Regardless, the Monterey auctions remain a key event in the world of high-end automotive collectibles.
