EVERY CAR HAS A STORY

Has the collector-car bubble finally burst?

According to numbers gathered by industry insurer and valuation Web site www. hagerty.com, for the first time since 2009, the auctions during the Monterey-Pebble Beach classic car week in mid-August did not show an overall sales increase. In fact, the 2015 auctions showed a decline of 8.9 percent compared with 2014. But it’s not cause to panic. Far from it. Last year blew all records away at the Northern California auctions, with a staggering $428 million in vintage vehicles sold, while this time around the number fell to just over $390 million, according to www. hagerty.com.

Crazy as this will sound, the difference between 2014 and ’15 could be attributed to just a single car. Last year at Monterey, a 1962 Ferrari 250 GT sold for a world-record price of $38 million.

There were just 39 GTOs built by Enzo Ferrari’s outfit in 1962-’63 and none were on the docket at any of the auctions this year. So, let’s do the math: $428 million minus $38 million equals $390 million, so $38 million — or the absence of one 1962 Ferrari 250 GT — is the difference in sales totals between 2014 and ’15.

That said the 2014 totals were a whopping 28 percent ahead of 2013, so the boom appears to have slowed.

Following are some of the more interesting sales of the week at Monterey and Pebble Beach:

1964 Ferrari 250LM, RM Sotheby’s, $17.6 million

While not in the rarified air of Ferrari GTO money, the top seller of the entire week was another vintage Ferrari. This one was No. 23 of just 32 Ferrari 250LM models built. This red beauty featured a 320-horsepower V12 engine and an extensive racing history. And while market’s rise and fall and values are never constant, blue-chip Ferraris have proven to be solid long-term investments.

1998 McLaren F1 ‘LM-Specification,’ RM Sotheby’s, $13.75 million

This was one of the real stunners of the week. It’s a car that’s only 17-years-old and commanded the kind of huge money that vintage Ferraris typically do. According to the auction company, this is penultimate road-spec McLaren F1 of 64 ever built, and it’s one of only two built with the 680-horsepower LM-Spec engine. Still, it represents megabucks for something so recent.

1982 Porsche 956, Gooding & Co, $10.12 million

Successful racecars that have won major races are excellent investments. No real surprise here, then, that someone would spend eight figures to purchase a Porsche that won the 24 Hours of Le Mans endurance race in France. This one has been raced all over the world by top-name drivers such as Jackie Ickx, Derek Bell and Al Holbert.

2005 Ferrari Enzo, RM Sotheby’s, $6.05 million

This might be the most bizarre story of the auction. The 400th and final Ferrari Enzo built, company executives gave this car to Pope John Paul II in January 2005. The pope asked that Ferrari sell the car to raise money for tsunami victims in Southeast Asia, which is what they did. Still, absolutely the coolest Popemobile of all-time.

1976 Porsche 930 Turbo, Mecum Auctions, $1.95 million

It obviously wasn’t the most expensive car of the auction week, but this Porsche was one of the coolest. It was the last new car that famed actor and car guy Steve McQueen custom-ordered before this death in 1980. And besides, a portion of the proceeds went to support Boys Republic, which was one of McQueen’s favorite charities.

1970 Plymouth Hemi ’Cuda, Mecum Auctions, $2.475 million

The gold standard of Mopar muscle cars, Hemi ’Cuda values have had their share of peaks and valleys in recent years. One of only 14 1970 Hemi ’Cuda ragtops built for the U.S. market, this one is special for its ownership history: This was the personal car of John Herlitz, who at age 27 designed this model. Whoa.

(PHOTO CREDIT, RM SOTHEBY’S) The McLaren F1 is loved by all, but this one is one only two that came with the 680-horsepower “LM-Spec” engine. It sold for a whopping $13.75 million.

(PHOTO CREDIT, RM SOTHEBY’S) Of course the top seller during auction week was a Ferrari. This stunning 250 LM sold for $17.6 million.

(PHOTO CREDIT, GOODING AND CO.) This Porsche was raced all over the world and actually won the annual French 24 Hours of LeMans endurance event. Ex race cars are often cheap, but those with solid history are a fortune. This one sold for more than $10 million.

(PHOTO CREDIT, MECUM AUCTIONS) This 1976 Porsche 930 Turbo was apparently the last new car that was bought before he died in 1980. As a “car guy” McQueen didn’t buy fluff.

(PHOTO CREDIT, MECUM AUCTIONS) Hemi ’Cudas are rare and valuable on their own, but this one was also owned by John Herlitz, the man who designed it. That might have contributed to the $2.475 million price paid for it.

(PHOTO CREDIT, RM SOTHEBY’S) This 400th and final Ferrari Enzo was gifted to Pope John Paul II in 2005, who requested it be sold and the proceeds given to charity.

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