Each year the “Monterey Auto-Week” (MAW) gets better and better. The value (and number) of cars sold at auction is an important measurement of the success of MAW. But, let’s not loose notice of the number and quality of the events that are specifically designed to have “value” to the auto-enthusiast regardless of his/her niche in the marketplace.
duPont REGISTRYTM has always played a role in more than one event. This year we repeated our anchor location in downtown Monterey at the Starbucks across the street from RM/Sotheby’s Auction at the Portola. We added Auto-Luxe at the Stanton Center Museum, Exotics on Cannery Row on Friday Night, the Rolls Royce Experience Cocktail Reception on Friday night, the McLaren Event at The Lodge on Saturday, the Monterey Car Week Rally on Wednesday, and the Classic Americana in Carmel on Friday. In addition, we distributed magazines to many of the auctions and dozens of hotel lobbies. All this intended to bring enjoyment to the reader and exposure to our advertising partners.
Now, to measure the financial value of the audience in Monterey, it is best to assess some relevant auction statistics. Reports of completed transactions supplied by Hagerty’s analysts show sales at the major auctions at close to $400 million. Keep in mind that there were those bidders who did not win the bidding war, which ups the value of “potential” and actual combined transactions to at least $750 million. There were over 800 cars sold. Suffice to say, “upscale” is an understatement.
At this time, Gooding & Company has reported closed sales of $121 million; RM/Sotheby’s $172 million; Mecum at $42 million; Russo and Steele over $10 million and Bonham’s at $45 million. Other auction results were not confirmed at press time. Generally, prices remained high (some in the stratosphere) and sell through was more than brisk. Overall, the average price of a sold automobile was close to $500,000 – clearly, not for the faint of heart and importantly indicative of a robust marketplace. Any observer of the activities in and around the auctions would duly note the increased value and number of “supercars” and true exotics present this year. It was a live version of the duPont REGISTRY!
The events (and the weather) in and around the Monterey peninsula will long be remembered from the cool clear evening beginning on Wednesday night at the enormous, enjoyable and understated McCall’s Motorworks Revival, to the intensely enjoyable auctions, to the overwhelming marketplaces at Retromobile and Automobilia, to the finale on the 18th fairway at Pebble Beach, it was all almost TOO fabulous. On Sunday, the Concours d’Elegance included a special marque class for “duPont Motorcars”. This afforded the author to return to Pebble Beach with a 1929 duPont Model G 4-Place Speedster. It was a high honour to be included and a privilege to be present. The kind generosity and generous courtesies afforded to automobile exhibitors was exemplary and will not be forgotten.
To all who contributed to the Concours and Monterey Auto Week … Thanks from all of us who simply enjoy the experience beyond all words of expression.
Thomas L. duPont
P.S. Once again, I was afforded the opportunity to test drive a new model vehicle for the weekend in Monterey. The Audi A6 3.0 Quattro was one of the finest 4-door rides that I have experienced. Whether stopped in a traffic jam or hurrying to the next event, I highly recommend the ride to all. Great price, too! A big “thank you” to PageOne Automotive for taking care of us with such a nice vehicle.