The thrill of an auto auction, especially when the cars being auctioned off are classics, sports cars, heavily modded rods and high end luxury vehicles. Just know in that these beauties are available to be bought gets your blood pumping, now if I only had the cash!

Monterey is holding three great auctions in the month of August during its Historic car week August 14-19. So which one should you attend? Let’s take a look at some of the Pros and Cons of each auction event.

Russo and Steele Sports and Muscle Monterey Auction Event

Russo and Steele Auctions contain a variety of European Sports cars, American Muscle cars, and custom build cars and hot rods. This auction will be held August 16-18 in downtown Monterey on the waterfront. The vehicle check in and preview area is on Lighthouse Avenue right just south of the tunnel and the main floor will be on Del Monte Ave, basically right next door. Public parking is accessed on Fisherman’s Wharf and Tyler Street.

Over 250 vehicles will be sold during the three evening event. To check out the auction for one day is $20 and $55 if you want to go to all three days. If you cant make it to this show, you can check it out online.

RM Auction

The RM Auction in Monterey will be held at the Portola Hotel & Spa and Monterey Conference Center in Monterey, Ca. While the cars will be great, this isn’t geared toward the average car browser. Just to take a look at the cars is going to cost you $50, registering to bid on a car is $300.

Now if you are in the market for a rare 1956 Ferrari 250GT LWB Tour de France ’14-Louver’ Berlinetta or a 1955 Ferrari 410 S Berlinetta by Scaglietti this is going to be the place to look!

In 2011 alone RM generated over $80 million dollars in sales. Two GT40’s will be headlining this show, a 1968 Ford GT40 Gulf/Mirage Lightweight Racing Car which was used as the camera car for Steve McQueen’s film ‘Le Mans’ and a 1967 Ford GT40 Mark 1.

Pebble Beach Auction presented by Gooding & Company

The Pebble beach auction is to be held August 18 and 19 by Gooding & Company on the grounds of Pebble Beach. This is a high end auction with vehicles selling in the millions of dollars. For example in the past years a ’59 Ferrari 250 GT LWB went for over 7.25 million, a ’33 Alfa Romeo Monza went for a little over 6.7 million and a ’53 Aston Martin a mere 1.65 million. Probably not exactly what most of us have for spending cash. The price of a ticket reflects the price of the vehicles sold. It will cost you $40 to register to look at the cars, $200 if you would like a catalog and a couple reserved seats.

To get you in the buying mood the Pebble Beach Auctions will be debuting McLarens new 2012 McLaren 12C Spider. The Spider boasts a 3.8 liter V-8 turbo engine that produces 616 hp and will go on sale after the show for $265,750.

If the auctions are a little too pricy for you, you might be interested in checking out one of the many other automotive events being held during the Monterey Historic car week. In addition to the auctions there will be several car shows like the Concorso Italiano, “The Little Car Show” in Pacific Grove featuring “little cars”, Legends of the Autobahn, Pebble Beach Concours d’Elegance and Automobilia Monterey.