Rarity and provenance proved a winning combination at the recent vintage auto auctions surrounding the Pebble Beach Concours d’Elegance. Nearly $175 million changed hands in a single long weekend– a robust and encouraging result that may point the way to a brisk fall sales season for art.
As reported by Auction News Network, Gooding & Company’s auction alone raised more than $6.59 million, with two vintage Ferraris and a 1933 Alfa Romeo each selling for over $6 million. These impressive results echoed those of the late spring art sales, which shared some of the same demographics, with bidders sounding in from Brazil, Japan, and the Mideast, along with the United States and Europe.
Read more at Art Info.