Mecum previews big Monterey Car Week
Mecum Collector Auctions CEO Dave Magers previews the big auctions come up next week in Monterey, California.
Video Transcript
- Monterey Car Week, it's kicking off tonight. In just a few hours from now, we're going to see a number of auctions over the next several days. And we could see or expecting to see some record prices for collector cars this year. We want to bring in Dave Magers, he's the CEO of Mecum Auctions, and it's the largest in the country by volume. So Dave, you are the person to talk to about this. I know you have a very, very busy couple of days ahead, are busy next week or so. But what can we expect from this year's big event?
DAVE MAGERS: Hey, good afternoon. We're all very excited to be going back to Monterey after having to take off last year 2020 because of the pandemic, and missing Car Week. Of course, it's just a great week for the car enthusiast. And I think from Mecum's , perspective we've been having live in-person auctions since June of 2020. This Monterey will be our 18th event since then. And I think this is one of our best lineups for Monterey ever. So I think it's going to be a very exciting week. Everybody's going to be excited just to be back.
- All right, my taste exceeds my wallet, Dave. I want to show folks some of the headliners for your auction. And then there was the news you announced yesterday about the Nissan NX1 but the Acura rather. But I want to ask you, that 1936 Delahaye estimated to get-- it could get as much as six million, could get more than that. Tell us about this car because these are stunning vehicles.
DAVE MAGERS: Yeah. The Delahaye, type a type 135 competition court teardrop coupe, which is the design as you see in the rear of the car, one of only 30 that were ever manufactured, very unique car. Of course, Delahaye is very unique in its own right, but this is a unique Delahaye. And in my opinion, of all of the vehicles that I would see year in and year out, Delahaye is the art of the automobile. These are-- all of the Delahayes are works of art. And I think this one probably is top of the list.
- It is a stunning vehicle, but not to be outdone. You've also got, is it a 1959 Ferrari? The-- excuse me, '52 Ferrari 340 America. And this car, I thought this was going to be in Florida. But now it's available at Monterey. Tell us about this.
DAVE MAGERS: Yeah we had that car on display in Florida, which we typically do for very special very important cars that are upcoming. Of course, all the Ferraris are very unique. A 1952 Ferrari, this car raced and finished fifth in the 24 Hours of Lima, which makes it a very special Ferrari. And then the car was restored by Ferrari and brought back to the US, and had a very successful racing career throughout the US, and now is being offered for sale at our Monterey auction. And it will be one of the highlights of the auction, probably one of the top three or four cars at the auction.
- Dave, just in terms of numbers and what you're expecting to see here in total sales, what can we expect, I guess, over the next couple of days? Because just in terms of what I've been reading, there's lots of hype going into this, and a lot of people are thinking that we'll see some record numbers.
DAVE MAGERS: We have 600 cars. A little over 600 cars will be going to Monterey this year, which is pretty typical for what we would bring to Monterey for a three-day auction, 200 cars a year-- a day. And I think, as I said, I think this is probably the best lineup that I've seen us bring to Monterey. And the combination of the quality of the cars that we have, the pent up demand for Car Week and for Monterey having missed the week-- missed a year.
And then of course, the success that we have had with pretty much every auction that we have conducted since June of 2020, I think that momentum is going to continue into Monterey. This is typically a high $40 million, low $50 million sale for us. And I would expect that this year we will exceed that number and set a new record for Monterey for making auctions.
- You know, the expectation Dave is, you know, total sales at all the auctions could exceed, I think it was like $380 million in 2018. And fingers crossed because I'm watching everyone the best. Tell us real quick, Carroll Shelby, a fond memory back in, what was it? 2003 or four announced the special project with Ford to develop a new Cobra, top-secret project called Daisy. You've got the car, and it's going to hit the auction block. This has got to be getting some excitement.
DAVE MAGERS: We have Daisy. Daisy is coming to the auction block. And again, Adam, we've displayed that car at several of our auctions coming up to them the Monterey auction. And it is it attracts a lot of attention wherever it goes. Of course, if you happen to be a Shelby enthusiast, Shelby Cobra enthusiast, a Shelby Mustang enthusiast, whatever it might be, the idea or the opportunity that you could own the 2004 Shelby Cobra concept car, one of one, there was only one of these manufactured. It never went into production. It won several awards, including best of show at the Detroit Auto Show on its introduction in 2004. This is, I think, the crown jewel of any Shelby collection. And even if you don't have a Shelby now, this would be just a fantastic car to own.
- I think like 600 horsepower, that got my attention. But hey, real quick. You made a big announcement yesterday, we're running out of time, but it's a deal with Acura. The winner or the purchaser bidder could get the VIN number 1, new NSX, tell us about this.
DAVE MAGERS: Yeah. Acura came to us a couple of weeks ago, and we were able to put the offer together and announced yesterday it's a 2022 Acura NSX Type S, VIN 1 and the high bidder will have the opportunity to basically design, outfit, choose the options and color of that car themselves when it is manufactured in 2022. And it's being auctioned by Nissan for charity for in conjunction with the Center of Science and Industry for their Steam project which provides technology, math, science assets for under-served youth that have an interest in those areas. So we're very proud to be able to work with Nissan Acura the Center of Science and Industry on this project and it's going to be very exciting we'll be offering a VIN 1 NSX.
- Dave Mangers, great to have you. I know Adam is very, very excited for the next couple of days. We certainly will be watching here on Yahoo Finance as well.
DAVE MAGERS: I'm holding a car for you.
- CEO of Necum Auctions, Dave, thanks again. We wish you all the best.
