Show Me The Money: Monetary Car Week

With world-wide strain on finances due to higher than anticipated inflation, looming recessions, wars and energy crisis, one would understandably wonder how this year's Monetary Car Week would pan out. With the current market trends pushing manufacturers to veer more in the direction of EV's due to stringent policies and regulatory bodies working toward end the combustion engine generation, one wonders how this may affect the classic car market (combustion engines in abundance!).

Fear of a failed auction week were quickly put to rest with a record turnout of over $400million of classic cars expected to sell, far surpassing last year's $351million total. A staggering 113 vehicles sold for over $1million each.

A 1955 Ferrari 410 Sport Spider that fetched $22 million became the week’s most expensive lot: One of only two, it was raced by Carroll Shelby, who won more competitions behind its wheel than in any other car.

Several new rides were announced for the week's lineup, including Bugatti’s final model with a W16 engine, as well as a number of concept cars from Lincoln, DeLorean and a few more. On the vintage vehicle front, a Bugatti Type 57SC Atlante from 1937 was one of the biggest sales of the week, and is one of just 17 of its kind, selling for $10.4million.

DAVID PAUL MORRIS © 2022 BLOOMBERG FINANCE LP (ref: Forbes.com)

On the more modern combustion engine front, Bugatti unveiled the Mistral - its last with a W16 engine, which it hopes will be the world’s fastest roadster. Named after a powerful wind in France, the 1,577-horsepower convertible comes with a nifty $5 million price tag. All 99 models have already been claimed we'll have you know!

The overall passion and interest in classic cars was palpable throughout the bustling week. Is the classic car game a dying feature? We think not, in fact, we believe the exact opposite to be true - the classic car game seems to be alive and well, and growing too.

Got your feelers out there for a possible investment? Let us at Auto-Thentic help you make sure you're making the right choice and getting the most out of your money.