The Pebble Beach Auctions Presented By Gooding & Company Generates Over $129 Million – Sets New Two-Day Sale Record For The Auction House

August 25, 2016 by Gooding & Company

Four cars sell above $10 million, 26 cars above $1 million

New auction records for Ferrari, Alfa Romeo, Bugatti, Porsche, Packard, and Maserati

SANTA MONICA, Calif. (August 22, 2016) – Gooding & Company, the official auction house of the Pebble Beach Concours d'Elegance®, realized more than $129.8 million at the annual Pebble Beach Auctions this weekend, resulting in a two-day sales company record. During the two-day auction event, the company sold 115 of 138 lots, an 83% sale rate with an average of $1,128,606 per car. During the auction weekend, an astonishing 26 cars sold over the $1 million mark, including four vehicles over $10 million. Numerous world records were broken as new market standards were set for multiple marques, including the star of the weekend the 1959 Ferrari 250 GT LWB California Spider Competizione (sold for $18,150,000), the historical 1933 Alfa Romeo 8C 2300 Monza (sold for $11,990,000), the 1932 Bugatti Type 55 Roadster (sold for $10,400,000) – the highest price ever achieved for a Bugatti sold at auction, the 1979 Porsche 935 (sold for $4,840,000) driven by Paul Newman at the 1979 24 Hours of Le Mans, the beautiful 1957 Maserati A6G/54 (sold for $3,300,000) and one of the finest 1930 Packard 734 Speedster Runabout (sold for $2,090,000).

'To break $129 million in just two days is astounding and speaks to this year's distinguished offering. Our clients recognize that we carefully curate our auctions to showcase the highest quality,' says David Gooding, President and Founder of Gooding & Company. 'We appreciate their patronage and support, as we achieved our most successful sale to date. I look forward to seeing all of you in 2017.'

Lots over $10 million from the weekend:

Lot 33 – 1959 Ferrari 250 GT LWB California Spider Competizione, sold for $18,150,000

Lot 56 – 1960 Ferrari 250 GT SWB Berlinetta Competizione, sold for $13,500,000

Lot 128 – 1933 Alfa Romeo 8C 2300 Monza, sold for $11,990,000

Lot 135 – 1932 Bugatti Type 55 Roadster, sold for $10,400,000

Lots over $1 million from the weekend:

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Lot 68 – 1950 Ferrari 166 MM Berlinetta, sold for $5,445,000

Lot 60 – 1979 Porsche 935, sold for $4,840,000

Lot 130 – 1957 Maserati A6G/54 Spider, sold for $3,300,000

Lot 40 – 1967 Ferrari 275 GTB/4, sold for $3,245,000

Lot 138 – 1954 Aston Martin DB2/4 Spider, sold for $3,080,000

Lot 146 – 1968 Ferrari 330 GTS, sold for $2,502,500

Lot 119 – 1985 Ferrari 288 GTO, sold for $2,420,000

Lot 22 – 1971 Lamborghini Miura P400 SV, sold for $2,255,000

Lot 30 – 1930 Packard 734 Speedster Runabout, sold for $2,090,000

Lot 35 – 1955 Lancia Aurelia B24S Spider America, sold for $2,007,500

Lot 125 – 1932 Rolls-Royce Phantom II Continental Berline, sold for $1,760,000

Lot 48 – 1961 Maserati 5000 GT Coupe 'Indianapolis', sold for $1,677,500

Lot 115 – 1971 Maserati Ghibli 4.9 SS Spider, sold for $1,500,000

Lot 108 – 1960 Ferrari 250 GT Series II Cabriolet, sold for $1,500,000

Lot 132 – 1956 Ferrari 250 GT Alloy Coupe, sold for $1,485,000

Lot 14 – 1955 Mercedes-Benz 300 SL Gullwing, sold for $1,430,000

Lot 19 – 1988 Porsche 959 Komfort, sold for $1,320,000

Lot 153 – 1960 Mercedes-Benz 300 SL Roadster, sold for $1,237,500

Lot 117 – 1931 Marmon Sixteen Convertible Coupe, sold for $1,210,000

Lot 45 – 1994 Porsche 964 Turbo 3.6 S Flachbau, sold for $1,100,000

Lot 150 – 1937 Mercedes-Benz 540 K Cabriolet C, sold for $1,072,500

Lot 54 – 1914 Marmon 41 Speedster, sold for $1,017,000