If you need convincing people have too much money, you only need look at this year's RM Sotheby’s Monterey auctions.
Monterey Car Week saw three days’ worth of cars go under the hammer in California last weekend and US$172.7m worth of metal sold for the auction house.
Of almost four hundred lots, 35 cars achieved million-dollar-plus price tags, but it’s what an anonymous collector received for their stunning ‘Pinnacle Portfolio’ car collection that shocked us.
With only 24 cars the Pinnacle Portfolio emptied US$75.4m from bidder’s pockets, or $103.4m Australian – a record auction amount for one vendor.
That means even though the Pinnacle Portfolio made up 6.6 per cent of the total car count, it accounted for more than 43.7 per cent of sale values.
What made this collection so stunningly expensive? Here are six jaw-dropping explanations…
1964 Ferrari 250 LM by ScagliettiNot only is it regarded as one of the most sought after Ferrari’s in existence, this particular 250 LM, build number 23 of 32, managed to remain in original condition, never being crashed by its original owner Ron Fry, who apparently liked to spin up its 239kW V12 very often in competitive events. It fetched an ice-cool $17,600,000.
1998 McLaren F1 LMIt should need little introduction being the fastest production car for 12 years, brainchild of F1 genius Gordon Murray, and the 1995 Le Mans winner. This one was also fettled by McLaren Special Operations, so it sported an LM-spec 515kW engine and high downforce package. It traded hands for $13,750,000.
1959 Ferrari 250 GT LWB California Spider by ScagliettiIt’s not as fast as its company here, but it’s considered one of the prettiest ever Ferraris. No wonder it sold for $8,500,000, as only 50 of the 176kW V12 spiders were made.
Pope’s Ferrari EnzoLuca Di Montzemelo gifted Pope John Paul II an Enzo in 2005, extending its build of 399 by one extra for the holy man. That must have count for something, as it sold for $6,050,000.
Mercedes-Benz 300 SL Alloy GullwingOf the 1450 Gullwings produced, 29 were alloy bodied, and even less had sports suspension, Rudge wheels and a Sonderliete engine. In effect this example went for somewhere between $5.5m and $6.5m.
1971 Lamborghini Miura P400 SV BertoneWhat would someone pay for the last special edition of the first ever supercar, especially when it’s completely original? In this case it happens to be $2,475,000.
And the rest of the Pinnacle Portfolio...
1960 Ferrari 250 GT SWB Berlinetta Competizione by Scaglietti, undisclosed
1994 Ferrari F40 LM, $3,300,000
1967 Ferrari 275 GTB/4 by Scaglietti, $3,300,000
1972 Ferrari 365 GTB/4 Daytona Spider by Scaglietti, $2,750,000
1971 Lamborghini Miura P400 SV by Bertone, $2,475,000
1985 Ferrari 288 GTO, $2,420,000
2012 Bugatti Veyron 16.4 Super Sport "300”, $2,310,000
2005 Maserati MC12, $2,090,000
1995 Ferrari F50, $1,980,000
2006 Bugatti Veyron 16.4 "001", $1,815,000
2008 Lamborghini Reventón, $1,375,000
1988 Porsche 959 'Komfort', $1,210,000
2008 Koenigsegg CCXR, $825,000
1967 Toyota 2000GT, $825,000
2005 Saleen S7 Twin Turbo, $682,000
1996 Porsche 911 Carrera RS 3.8, $550,000
2005 Mercedes-Benz SLR McLaren, $495,000
1993 Jaguar XJ220,$462,000
1974 Ferrari Dino 246 GTS,$368,500
1956 Porsche 356 A 1600 Speedster by Reutter, $330,000