RM Sotheby's expects record-breaking $200 million in sales at Monterey
While global markets wobble and fears grow as economic slowdown is underway, you wouldn't know it from looking at the upper echelon of the classic-car collecting world.
As the industry gears up for Monterey Car Week, which culminates with the Pebble Beach Concours d'Elegance next month, all eyes will be on the big auctions that punctuate the week of activities.
RM Sotheby's, the world's largest collector-car auction house by sales, previewed a select group of cars in New York City that will be going under the hammer on August 18 in Monterey. The five cars on display were under consignment from noted enthusiast Oscar Davis, who passed away early last year.
Those five cars alone from Davis's collection are worth an estimated $40 million; RM Sotheby's will auction off 22 cars from the Davis collection in total.
