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Pebble Beach’s ‘Bombastic’ Car Auctions Show a Red-Hot Market

The $343 million haul during Monterey Car Week revealed the discerning appetites of billionaires jostling for the best of the best.

Gooding & Co’s auction-preview stand at the 2021 Pebble Beach Concours d'Elegance.

Gooding & Co’s auction-preview stand at the 2021 Pebble Beach Concours d'Elegance.

Photographer: David Paul Morris/Bloomberg
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After a year of record-breaking online-only sales, the auctions during Monterey Car Week and the Pebble Beach Concours d’Elegance roared back as strong as ever, showing no sign of abatement in the collectible car segment.

Five auction houses brought in a total of $343 million across three days of sales—up 37% over the same array of opportunities in 2019. (Monterey Car Week was canceled in 2020, due to the coronavirus pandemic.)