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The $10 Million Club: Cars That'll Bring Big Bucks At Auction In Monterey [UPDATE]

Seven cars might reach eight-figure territory, including a Ferrari race car driven by Carroll Shelby.

Side view of a mostly yellow 1997 Porsche 911 GT1 Rennversion race car.

Photo by: Broad Arrow Auctions

Christopher Smith

By: Christopher Smith

Updated: Aug 20, 2024 at 2:24pm ET

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Update: The results are in, and we suspect there are some disappointed sellers out there. Only one car on the list managed to meet its pre-auction estimate. Three didn't sell. We've updated this list to include final sale prices.

Monterey Car Week lives in a different reality from the rest of the automotive scene. There's nowhere else in the world where selling a car for a million bucks would be considered "cheap." There are several high-profile auctions taking place this week in central California, and we’ve perused them all to find the best of the best.

This year, seven potential vehicles could reach eight-figure territory. It’s no surprise Ferrari dominates the list, but the most expensive Monterey auction could fall to an old rival. And when bidding is done, prices could top $20 million. That’s big money even for the one-percenters.

Here’s a quick look at the $10 million club for Monterey Car Week 2024, based on estimates. We’ll update this with final bid prices once the champagne settles.

1997 Porsche 911 GT1 Rennversion

Estimate: $8.5-$10.5 Million

Sold for $7,045,000

1997 Porsche 911 GT1 Rennversion

Broad Arrow Auctions

This colorful 911 GT1 is listed as one of nine customer cars built, described as “never severely damaged or dismantled.” It has a neat racing history that includes Le Mans, and it’s not lacking for color with its Rohr racing livery. It crosses the auction block through Broad Arrow auctions on August 15.

1937 Bugatti Type 57SC Atalante

Estimate $9-$11 Million

Did not sell, auction lists an asking price of $9,750,000

1937 Bugatti Type 57SC Atalante

Gooding & Company

Barring a global apocalypse, these rare Bugattis will never not be supremely valuable. It has exactly half the cylinders of a new Tourbillon, with a glorious 200-horsepower straight-eight. This example is listed as one of 17 with the Atalante bodywork, having scored a first-in-class win at last year’s Pebble Beach Concours d’Elegance. Gooding & Company will auction the car through its event running August 16 and 17.

1957 Ferrari 625 TRC Spider by Scaglietti

Estimate: $9-$11 million

Did not sell, price available upon request

1957 Ferrari 625 TRC Spider by Scaglietti

Robin Adams-Courtesy Of RM Sotheby's

This classic Ferrari has an extensive racing history according to RM Sotheby’s, which plans to auction the car on August 16. Originally fitted with a 2.5-liter four-cylinder engine, it now has a 3.0-liter V-12—though the original mill comes with the car. That’s good, because it’s one of only two that had the Ferrari four-pot.

1961 Ferrari 250 GT SWB California Spider

Estimate: $15-$17 million

Did not sell, starting bid listed at $7,500,000

1961 Ferrari 250 GT SWB California Spider

Gooding & Company

The first of two Ferrari California Spiders comes from Gooding & Company, and it’s apparently the better bargain with a low estimate of only $15 million. Originally blue from the factory, it was repainted red in 1968, having passed through several owners, according to the auction’s description. The car will cross the block on August 16.

1960 Ferrari 250 GT SWB California Spider

Estimate: $16-18 million

Sold for $17,055,000

1960 Ferrari 250 GT SWB California Spider

Remi Dargegen-Courtesy of RM Sotheby's

RM Sotheby’s calls this black Ferrari the “finest, most important 250 GT SWB California Spider available.” It’s listed as the first one built, and was featured by Ferrari at the 1960 Geneva Motor Show. Moreover, this is apparently the first time it’s been offered for public sale, so who knows what it could bring when the hammer drops. The auction will take place on August 17.

1938 Alfa Romeo 8C 2900B Lungo Spider

Estimate: $16-$20 million

Sold for $12,750,000

1938 Alfa Romeo 8C 2900B Lungo Spider

Gooding & Company

Will this gorgeous Alfa Romeo be the most expensive car sold during Monterey Car Week? It's one of just five in existence, carrying a high-end estimate of $20 million. The listing mentions a long, esteemed ownership history and a previous first-place win at Pebble Beach among its accolades. It will be auctioned through Gooding & Company on August 16.

1955 Ferrari 410 Sport Spider by Scaglietti

Estimate: In excess of $15 million

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Sold for $12,985,000

1955 Ferrari 410 Sport Spider by Scaglietti

Theodore W. Poeper-Courtesy of RM Sotheby's

This very pretty Ferrari is a wildcard in this ultra-expensive lineup. According to the auction listing, it’s a one-off that wasn’t entirely a race car, nor was it a pure road car. It became the prototype for the 410 Sport Scuderia, and it was also driven by a little-known racer named Carroll Shelby. With such history, we can understand why it doesn’t have a high estimate. We will find out if it beats the Alfa (or other cars on the list) on August 17 when it crosses the block through RM Sotheby's. You can bet more than a few people will be watching.

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