Attendees view cars on display during the 2015 Pebble Beach Concours d’Elegance in Pebble Beach, California, U.S., on Sunday, Aug. 16, 2015.
David Paul Morris | Bloomberg | Getty Images
It is the Coachella of classic cars, the Woodstock for wealthy wheel-freaks.
It’s Monterey Car Week, which includes the Concours D’Elegance car awards show and runs though Sunday. It’s six days of parties, road tours, product announcements and vintage races focused on the rarest and most expensive cars in the world. But for the wealthy collectors who converge from across the globe in California, the biggest spectator sport is the auctions.
This year, more than $380 million worth of wheels are slated to hit the auction block at six auction houses, according to Hagerty, the classic-car insurance and market-research company. That total is up slightly from last year and marks a mild recovery, or at least stabilization, for a classic-car market that has lost some of its traction from the 2014-2015 peak, when…