GOODING & COMPANY ANNOUNCES OUTSTANDING $21+ MILLION RESULTS FROM FIRST-EVER SCOTTSDALE AUCTION

January 20, 2008 by Gooding & Company

Award-Winning 1959 Ferrari 250 GT California Spider Sells for More Than $3 Million –

Top Selling Lot of the 2008 Scottsdale Auction Week

Rare Ferrari 400 Superamerica, Famous Lincoln Loewy Continental and Distinguished Model J Duesenberg Clear-Vision Sedan Headlined Array of Record-Breaking Sales

SCOTTSDALE, Ariz. (January 19, 2008) – The inaugural Gooding & Company Scottsdale Auction was a stunning success, with a grand total of more than $21 million for 64 cars sold, of which 7 cars sold for more than $1 million individually. World-record sales were set for the Alfa Romeo 6C 1750 ($1.54 million) and the Rolls-Royce Phantom II Streamline Saloon ($852,000).

Additional highlights from the dynamic auction included the 1963 Ferrari 400 Superamerica and the Packard Individual Custom Eight Convertible, which each sold for more than $1 million. The Model J Duesenberg 'Clear-Vision' Sedan also broke the million dollar mark, due in part to its refined sedan body and its remarkable history.

Gooding & Company's star car, the 1959 Ferrari 250 GT LWB California Spider, sold for $3.3 million, the highest price paid during the week-long Scottsdale auctions as of press time. This vehicle was one of only fifty long-wheelbase California Spiders ever produced.

'We were thrilled by the exceptional turnout and results from our first Scottsdale auction. 90% of our cars sold for more than their estimate,' said President and Founder David Gooding. 'With 64 lots, the average price per sale exceeded $330,000.'

Additional note-worthy sales of the Gooding & Company Scottsdale Auction include the Ferrari 330 GTC Speciale by Pininfarina, which sold for $550,000 and the one-of-a-kind 1941 Lincoln Continental Coupe designed by Raymond Loewy, which caught the attention of numerous auto aficionados and was purchased for $451,000. Boasting an elaborate provenance, the Eisenhower/Nimitz 1934 Packard Super 8 1104 Touring dropped the gavel at an impressive $231,000.

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The day began with an elegant champagne breakfast where bidders and consigners feasted on everything from Rolls-Royces to Lamborghinis. The energy and excitement in the tent during the auction was contagious, as enthusiastic attendees from around the world anticipated their moment to bid in a standing-room only crowd of bidders. The impressive results of the auction established and insured Gooding & Company's continued presence at the 2009 Scottsdale Auction Week.

Gooding & Company hosted preview days open to the general public on Thursday, January 17, 2008 and Friday, January 18, 2008. The auction was held on Saturday, January 19, 2008 at Scottsdale Fashion Square. For full results, please visit the web site at www.goodingco.com. Catalogs from this year's auction are still available for $75.