Monterey Car Week auctions predicted to break $320 million in sales

Monterey Car Week has returned with a bang.

The annual California gathering was canceled last year due to coronavirus restrictions, but is in full swing for 2021 with a slate of a half-dozen auctions that kicked off with a $34.4 million haul at RM Sotheby's on Thursday night.

Hagerty estimates that the auctions will pull in over $320 million at an average of over $400,000 per sale, which would for surpass the $255 million total from 2019.

"This year’s Monterey Car Week auctions include excitement around the traditional sectors of the collector car market, like prewar cars and 1950’s Ferraris. However, newer cars may well prove to be the top sellers in 2021," Hagerty vice president of automotive intelligence Brian Rabold said.

Among the cars sold at RM Sotheby's was a 1962 Aston Martin DB4GT Zagato, that went for $9,520,000, which Hagerty says likely won't be the top seller of the week.

Here are a few other notable cars crossing the block and their estimated sale prices:

1970 Porsche 917K; RM Sotheby’s; $16,000,000

This Porsche 917K was raced in the 1970 24 Hours of Le Mans and featured in the Steve McQueen film "Le Mans."

1995 McLaren F1; Gooding & Company; $15,000,000+

The 240 mph McLaren F1 was the fastest car in the world and only 106 were built.

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1959 Ferrari 250 California LWB Spider; Gooding & Company; $10,000,000

Ferrari also only built 106 California Spiders, which have become among the brand's most sought-after classics.