At the famed Nürburgring in Germany's Eifel mountains, Bonhams Europe held their annual sports car auction during the well-established Oldtimer Grand Prix meeting on 10th August. This was a popular sale with a number of single seaters on offer and a selection of post-war road cars.

1985 Ferrari 288GTO Berlinetta

Topping the bill was a 40,000 km example of the ubiquitous Ferrari 288 GTO which made strong money to a young city player at Eur 239,000. Parents take note when choosing a career for your offspring.

1971 Lamborghini Miura SV Speciale

Of even greater interest was the unique Lamborghini Miura SV Speciale, one of just two Miuras built with dry sump lubrication and limited slip differential, which was sold to a UK collector bidding from his yacht for Eur 195,000.

1967 Lamborghini 400GT 2+2

A new European record was set by a freshly factory-restored Lamborghini 400 GT (Eur 125,700), a superb original Mercedes-Benz 280 SL (Eur 50,000) and a sensational BMW 2002 Turbo, the oldest in existence (Eur 26,450). The one-off Alfa Romeo "Praho" Prototype was snapped up for just over the bottom estimate of Eur 41,000 by an astute collector in Hong Kong.

The sun was shining on the Monterey peninsula during the Pebble Beach weekend of 16th/17th/18th August which saw buyers flock in from around the globe. All three of the world's major classic car auction houses had sales scheduled, with RM kicking off proceedings on the Friday night at their customary Doubletree Hotel venue.
Market watchers followed events closely, nervous that so many cars offered in one weekend could signal a market meltdown, but these fears were not realised.

1962 Ferrari 330 Testa Rossa Le Mans Photo Simon Clay

Highlights of RM's sale, which continued on Saturday evening, were the Le Mans winning Ferrari Testa Rossa which the auction house had purchased in a secretive deal from French collector Pierre Bardinon. Rumours abounded about this transaction, and RM's staff were furiously working the phones until just before the sale to generate interest in the car. Eventually the hammer went down at $ 5.9 million, although it is still not clear whether the car has changed owners.

1954 Ferrari 250 Monza Spider Photo Simon Clay

RM also offered the Ferrari 250 Monza belonging to the late US collector Bill Serri, which was snapped up by an English dealer for $ 1,705,000. Neither the 250 SWB nor the 250 Tour de France reached their reserves (both had the wrong engine) and the 250 LM Berlinetta was withdrawn prior to the sale after the threat of legal action from the owner of a car with the same chassis number. These were the Ferrari highlights of the RM sale, which also featured no less than 15 Jaguar E-Types! I wonder whether RM intends to follow the Barratt Jackson credo of 'more is more'… Nonetheless the man in the driving seat at RM Auctions, David Gooding, must be pleased with the financial result.

1928 Mercedes-Benz SSK specification

Saturday night saw Bonhams welcoming clients to their marquee at the Quail Lodge Country Club, which also hosts the Concorso Italiano event. Centre stage were the remaining cars of the late Don Ricardo, the dapper moustachoed Hollywood entertainer of the 1930s, 50s and 60s. Although Don's Targa Florio Mercedes and aluminium Gullwing did not sell, his 'bitsa' SSK was knocked down for a resounding $ 662,500.

1954 Maserati A6G Sport Spider

The surprise results of the evening, however, were achieved for a well restored Lamborghini 400GT at $ 156,500 and a jewel-like Maserati A6G Frua Spyder (one of two built with A6GCS specification engine), acquired after an eight-way telephone bidding battle by a US collector for $ 552,500.

1959 Ferrari 250 GT Spyder California Photo Lighthouse Imaging

Last but not least, Christie's held court at their traditional Pebble Beach Equestrian Centre surroundings on the Sunday afternoon after the Concours. The star attractions were cars from the collection of the late arms maker Bill Ruger, including a wonderfully scruffy but original Ferrari LWB California Spyder which he had bought when it was just a few months old. Like Bonhams' Maserati it was offered without reserve which seemed to do the trick - against a very low pre-sale estimate of $ 500,000 - 700,000, this cherry red 1950s beauty was finally knocked down for $ 1.1 million to someone who clearly appreciated its history.

It has to be said that there is no other car show quite like the Pebble Beach weekend. Nowhere else will you see such an extravagant display of wealth and, sometimes, bad taste. Despite this (or perhaps because of it) the weekend is a must for all serious classic car collectors and enthusiasts, with much more to see than just the Concours.
The message taken home this year by market professionals who attended the event was that buyers are demanding only the very best and will pay for it. Below that rarefied stratosphere, the air is rather thin.