The big money flowing into luxury cars in Pebble Beach
FBN's Jeff Flock talks to Gooding & Co. founder Roger Gooding on the expensive cars up for auction at Concours d'Elegance in Pebble Beach, California.
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The ritzy Pebble Beach Concours d’Elegance car show and competition has been canceled due to the coronavirus pandemic.
(David Paul Morris/Bloomberg via Getty Images)
The organizers have announced that the Aug. 16 event and its partner Pebble Beach Auctions held by Gooding and Company will return in 2021, citing concerns about the health and safety of their employees and participants.
California is currently under a statewide stay-at-home oder with an indefinite end date.
The Concours d’Elegance is the anchor of a weeklong series of automobile auctions and events held in and around Monterey, Calif., that last year accounted for $245.5 million in sales.
Other auction houses, including Mecum, Bonhams and RM Sotheby’s have not yet said if their events will go on as scheduled.