Monterey-the biggest classic car auctions in the world is over.

We are still digesting all the results which were quite mixed.

We are also happy that for the first time a Post war car has won the pebble beach trophy. Today many cars sell for more than a million at auction. It is nothing special. In fact over the past few days at Monterey it is estimated that over 82 cars sold for over $1m! Yes over 82 cars were sold over $1m- that is a staggering number. It was not always that way. We were going through our old magazines of classic cars and found one issue in 1995. Then a Ferrari 275 GTB was listed for £120′ooo, which was the equivalent of $192′ooo. In only 20 years the market has gone through two crises (in 2000/2001 and then again in 2007/2008) to emerge in 2014 stronger than ever. Today an average 275 GTB sells for over $2.5m. In terms of returns that is over a 1200% in only 20 years.

That is a strong return no matter how you look at it.

NB: Main picture credit- Marcel Massini

by Edmond Saran