Gooding & Company Celebrates 10th Anniversary as Global Appreciation of Cars Push Markets to New High in 2013
November 18, 2013 by Gooding & CompanySANTA MONICA, Calif. (November 11, 2013)
– The mystique of collectable cars continues to expand enthusiasm and buyer participation around the globe. In 2013, Gooding & Company, the auction house acclaimed for selling the world's most significant and valuable collector cars, celebrated its 10th anniversary and saw new and returning bidders flock to its three auctions. Demonstrating Gooding & Company's power in the marketplace is an annual auction total of $192.6 million for 286 lots with an average lot value of $673,686 per car with a 95% annual sell-through rate, one of the highest in the industry.
David Gooding, President and Founder: 'We witnessed values this year at an all-time high with record results across the board for leading marques such as Bugatti, Ferrari, Maserati, Mercedes-Benz, McLaren and Porsche. This further demonstrates that there is a growing demand for best-in-category cars at every level of the collector market. In the coming year, we anticipate an even greater sophistication in the international car community with more people becoming captivated by highly original cars with unique specifications and exceptional provenance.'
Summary of Gooding & Company's Top Sales for 2013
Representing an all-time high for Gooding & Company and the automotive auction industry, the firm sold 50 cars over $1 million each this year compared to 41 in 2012. In addition, Gooding & Company realized 50 world auction records this year compared to 45 in 2012. The top ten sales of 2013 included:
•1957 Ferrari 250 GT 14-Louver Berlinetta at $9,460,000, world record for a Ferrari 250 Tour de France
•1937 Bugatti Type 57SC Atalante at $8,745,000, world record for a Bugatti at auction
•1997 McLaren F1 at $8,470,000, world record for the marque at auction
•1958 Ferrari 250 GT LWB California Spider at $8,250,000, world record for a steel Ferrari 250 GT LWB California Spider
•1955 Ferrari 250 GT Berlinetta Competizione at $7,150,000, world record for an early 250 Ferrari 250 GT
•1948 Alfa Romeo 6C 2500 Competizione at $4,840,000, world record for a post-war Alfa Romeo
•1966 AAR Gurney-Weslake Eagle Mk 1 at $3,740,000, world record for an AAR Gurney-Weslake Eagle Mk 1
•1959 Porsche 718 RSK at $3,135,000, world record for a Porsche 718 RSK
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•1957 Maserati 150 GT Spider at $3,080,000, world record for a Maserati 150 GT Spider
Scottsdale Auctions, January 18 & 19, 2013
•$52.5 million total sold, including a 10% buyer's premium
•101 of 104 lots sold
•97% sales rate
•Average price per car sold: $519,727
•16 world records
Truly an event to remember, full of competitive bidding that drove numerous cars above high estimate, Gooding & Company sold $52.5 million at its annual two-day January Scottsdale Auctions with 97% sold and 16 world records realized by top-of-category cars. For the sixth consecutive year, Gooding & Company sold the most valuable car of the week, a 1958 Ferrari 250 GT LWB California Spider, broke records for both a steel LWB California Spider and holds the prestigious title of most valuable car sold in Arizona auction week's history. These magnificent Scottsdale results are an important barometer for the industry and set a strong tone for 2013.
Amelia Island Auction, March 8, 2013
•$28.1 million total sold, including a 10% buyer's premium
•69 of 71 lots sold
•97% sales rate
•Average price per car sold: $408,166
•5 world records
At Amelia Island, attention was on celebrity-owned classics, high performance sports cars and sleek modern supercars, led by the top-selling, $2.75 million 1928 Bentley 4 ½ Litre Semi-Le Mans Tourer and the $2.365 million 1966 Ferrari 275 GTB Long Nose Alloy. Gooding & Company's one-day, $28 million Amelia Island Auction made a significant impact on the industry and continued the momentum that began earlier in the year at Scottsdale.
Pebble Beach Auctions, August 17 & 18, 2013
•$112.0 million total sold, including 10% buyer's premium
•116 of 127 lots sold
•91% sales rate
•Average price per car sold: $965,675
•29 world records
Gooding & Company's record breaking 10th anniversary Pebble Beach Auctions boasted a stellar result with more than $112 million in sales for 116 lots sold over two days, averaging $965,675 per car. Values were at an all-time high for pre and post war cars with strong results across the board for market leaders such as Ferrari, McLaren and Bugatti. Significant offerings for enthusiasts who sought best-in-category vehicles included examples from three distinct generations: a 1957 Ferrari 250 GT 14-Louver Berlinetta that brought a world record for a Ferrari 250 Tour de France at $9,460,000, a 1997 McLaren F1 that set a world auction record for the marque at $8,470,000 and a 1937 Bugatti Type 57SC Atalante that set a world auction record for a Bugatti at $8,745,000.
Looking Forward to 2014
In honor of Veterans Day, Gooding & Company is pleased to announce a very patriotic tri-color red, white and blue 1929 Duesenberg Model J Dual Cowl Phaeton that will be featured during its annual Scottsdale Auctions on January 17 and 18 at the Scottsdale Fashion Square, 4700 N. Scottsdale Road. This Model J (J-129) with its classic, two-tone 'sweep-panel' LeBaron coachwork is the quintessential open Duesenberg. Correct and genuine, this well-documented car was delivered new to John Duval Dodge of the Dodge Family and is believed to be the only Model J originally sold in Detroit. This stunning American classic was completely restored by famed Duesenberg specialist Fran Roxas of Chicago. This Model J has won many prestigious accolades that include Best of Show at Meadow Brook in 2010 and major awards from both the Pebble Beach Concours d'Elegance® and the Amelia Island Concours d'Elegance® (estimate: $2,000,000-2,300,000).
Additional early highlights from the January sale include a 1955 Lancia Aurelia B24S Spider America (estimate: $1,100,000-1,300,000) and a 1960 Mercedes-Benz 300 SL Roadster (estimate: $800,000-1,000,000).
Moving on to March, the Amelia Island Auction will take place on March 7 in Amelia Island, Florida and next summer the Pebble Beach Auctions will be held on August 16 and 17 in Pebble Beach, California. Bidder registration forms, press credentials and additional auction information are available at www.goodingco.com or by calling (310) 899-1960.
•1967 Ferrari 365 California Spider at $ 2,970,000, world record for a Ferrari 365 California Spider