Back in March I posted an auction preview for the Amelia Island auctions in which I broke down the lots crossing the block by brand and era of manufacture. The idea was to see if we could detect any shifts in how the auction houses were responding to — or perhaps setting — market preferences for 2026. Era and brand are just two dimensions, and lately I’ve been wondering if the current market is driven more by economics than demographics. For this week’s Market Monday, I’m looking at the well bought and well sold cars at RM Sotheby’s Monaco auction to see what we can learn.

RM Sotheby’s was back in Monaco this year after taking 2025 off, setting up shop during the Monaco Historique Grand Prix weekend. Total lots consigned stood at 57 listings for the house’s biennial sale for 2026, down from 103 lots in 2024. The sell-through rate for 2026 was 86% compared to 80% in 2024 with 16 lots selling at no reserve. Dollar volume increased by an impressive 140% year over year with a total haul of around $101 million.

Both classic and modern Ferraris continued to perform well at RM’s Monaco sale, with the highest grossing vehicle being a 1961 Ferrari 250 GTO California Spider that hammered for €16.65 million — just a smidge over the auction house’s high estimate including buyer’s premium. The massive increase in dollar volume is reflective of many more high-dollar consignments relative to 2024’s Monaco auction.

As you can see in the chart above, there were significantly more cars valued under €1,000,000 in 2024’s Monaco auction. In contrast number of cars worth between €1M and €5M jumped from just 7 to 23 for 2026! Only one vehicle sale in 2024 broke the €5M barrier, while there were no less than 4 cars that hammered for over €5,000,000 in 2026. RM Sotheby’s has really been focusing at the top end of the market this year, and that bet appears to be paying off handsomely.

The high-dollar sales always take the headlines, but the truth is that the majority of cars sold at RM Sotheby’s 2026 Monaco auction were sold within their auction estimates. I’m more interested in what bested the auction house’s expectation. Below you’ll find the cars that sold for well over their catalog estimates, plus my comments. 

Finished in a great color combination of Nero with a Bordeaux red interior, this Ferrari F355 Spider was estimated at €120,000-€160,000, but sold for an impressive €195,500. It has a desirable 6-speed manual, but also just 45,000 kilometers on the odometer.

Extremely low miles, single ownership, exceptional condition and an attractive color combination may have had a lot to do with this 2010 Mercedes-Benz SLS AMG’s hammer price of €331,250 against an estimate of €200,000-250,000. The house estimate was right in the ballpark of average prices for these cars, so the seller must be thrilled with the result.

The market average for a 1974 Ferrari 365 GT/4 BB is right around $370,000, so what made this one special at €438,125 or $513,000? This car had one owner from new until 2026, plus the unusual color of Bianco Polo like had an effect. Congratulations to the seller and the buyer of this one.

A great specification and just 373 kilometers drove the winning bid to €100,000 over the high estimate for this 2015 Ferrari 458.

Ferrari only painted 9 of the iconic Enzo models in silver, and this is one of them. While it didn’t achieve the outrageous sale price of the yellow Enzo at Mecum Kissimmee this year, the car sold for an impressive €6,530,000 against an estimate of €4.9-5.3M. Jay Kay’s green Ferrari LaFerrari gets an honorable mention for beating its estimate by about €500,000.

Sixteen cars were sold at no reserve in Monaco and while most of those cars sold for above the low estimate or even close to the high end of their project sale price, several failed to reach those heights.

I was disappointed to see this car, which was sold at no reserve, hammer for almost €40,000 under the low estimate of €150,000-180,000. Denzels in the past have sold for upwards of €250,000, so I felt this one was estimated a bit conservatively, but I guess the market spoke.

Race cars can be tough to sell, especially when they don’t have a history of significant race wins. While it placed first at an SCCA event at Lime Rock in 1965, that’s the sole victory to this car’s name. The sleek Lotus racer was offered at no reserve and sold for €120,750 against an estimate of €200,000-300,000.

The average price for a Mercedes-Benz AMG GT Track Series, of which just 55 total were built to celebrate the tuner’s 55th anniversary, hovers around $415,000. That puts the sale of this car around $100,000 below the average. This marks the lowest price publicly paid at auction for the model.

Being one of just three cars ever built and a bit of a prototype/development car, this one was probably challenging to value. As the car managed to sell, one can’t be too mad at the winning bid of €1,158,125 against an estimate of €1.5-€2M.

Two of the well bought cars were modern cars, suggesting that the decline of interest in 60’s classics isn’t necessarily a stable trend. Three of the four well-sold cars were offered at no reserve, which is why I will always advise clients to sell with a reserve unless it’s essential the car sells, even if it means you receive far less than market value. Remember, in addition to the low price, you also end up paying significant seller’s fees.

Yes, Monaco is a unique market populated by extreme wealth, but as you can see even the cars showing up at this prestigious sale have shifted even more higher end compared to a couple of years ago. It will be interesting to see if future 2026 auctions continue to cater to the contingent of buyers unaffected by global economic turmoil. I’ll also be curious if more 60s classics come to auction in an attempt to sell before a perceived downturn, or if sellers will hold onto those cars until the middle of the market perks back up a bit.

I’ve spoken with specialists at both Gooding Christie’s and Bonhams and they stressed a commitment to a diverse group of offerings at their upcoming sales this year.

Share your thoughts in the comments below! Have a great week, everyone.

Wolf and Mare provides car finding, appraisals, and auction services for buyers and sellers of collector European cars. If you’re interested in acquiring an overseas car, give us a call or drop a line!