The Concours d'Elegance in now considered the premier car show of pre and postwar automobiles along with the latest concept car designs. It is a charitable event held every August at the Pebble Beach Gold Links (18th hole). The show was started in 1950 and has grown every year in both prominence and the number of participants. Cars are judged for authenticity, history, style and function. Cars are grouped into classes based on manufacturer, country of origin, era, and coach builder. Thousands of spectators from all over the world attend the event. Locally, this event is referred to as Car Week. In exchange for a great contribution to the local economy, residents get to enjoy lack of parking, street closures and traffic jams in their otherwise quiet little town.