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Gooding & Company

Gooding & Company October 2007
Gooding & Company held a two-night auction event during the Pebble Beach Concours d'Elegance. Highlights of this year's auctions include the oldest running car in the world, an original 1931 Blower Bentley from the E. Ann Klein Estate, one-of-a-kind Ferraris and the incomparable Rolls-Royce collection of Richard J. Solove.

As part of this year's Pebble Beach Concours d'Elegance, Gooding & Company's auction consisted of over 130 vehicles, two days of auction preview, and two days of live auctions. The first night of auctions included several cars from the late private collector and well-known television producer Greg Garrison. Seven of the nine cars were one-of-a-kind Ferraris. Highlights included the 410 Superamerica Scaglietti Coupe, he 250 PF One-Off Coupe and the very last Daytona Spyder built.
Highlights from the second night of auctions include the 1884 De Dion Bouton et Trépardoux steamer. It is recognized as the 'oldest running car in the world,' and boasting a top speed of 38 miles per hour. The De Dion Bouton's twin tandem compound steam engines use coal and water for fuel. On April 28, 1887 it won the world's first auto race, from Paris to Neuilly and back, covering a distance of 19 miles while averaging 26 miles per hour.

Other highlights from the second night include the Richard J. Solove Rolls-Royce Collection. It was the largest single automotive donation in history. Mr. Solove contributed his proceeds from the collection's sale, with catalog estimates ranging between $8 - $10 million, to the Arthur G. James Cancer Hospital and Richard J. Solove Research Institute at Ohio State University. This prestigious care center is one of only ten freestanding cancer hospitals in the United States. It is part of Ohio State's National Cancer Institute- designated Comprehensive Cancer Center.

The collection of Rolls-Royce autos included the first series 40/50hp Silver Ghost in addition to models from every year of the series' production, which ran from 1907 through 1915. Highlights of the Solove Collection include a 1907 Rolls-Royce (chassis 60547), (which is the oldest-known surviving 40/50hp model predating the example owned by Rolls-Royce and a vehicle known as 'Corgi'), and Solove's 1912 Silver Ghost, which was so nicknamed because it inspired the creation of the famous tiny 'Corgi Classics' model. The entire collection was offered without reserve.

The highest sale of the auction was the 1931 4.5-liter Blower Bentley, nicknamed 'The Green Hornet', selling at $4.51 million. This was the first time since 1953 that the vehicle had been offered for sale. It wears a Gurney Nutting body in boattail configuration and has never been restored. The second high sale of the auction was the Ferrari 250 GT California LWB which sold for $4.455 million. It is a previous multi-class winner at the Pebble Beach Concours d'Elegance and was the very last California outfitted with the iconic three liter Colombo V-12 engine. It retains all documented ownership history dating back to when it was first delivered to famed Ferrari distributor Luigi Chinetti in 1959.

On the first evening of the auction, about half way through, a week of ownership for a 2007 Bugatti Veyron was offered for sale, with all proceeds going to charity. Of course, certain restrictions applied such as age and driving infractions. The final bid, which won the opportunity for seven days of ownership of the world's most powerful sports car, was $40,000. Coincidental or intentional, the prior lot offered for sale was a 1963 Studebaker Avanti. The Avanti claimed the 'World's Fastest Production Car' title in the early 1960s. The Veyron claimed the title about forty years later.

Auction Analysis
The first bidding night of the auction saw 65 vehicles offered for sale with 57 finding new owners. Just over half were offered without a reserve. Total sales were $19.442 million with the average sale of the night being $341,000. The highest sale was for the Ferrari 365 GTS/4 Daytona Spyder which brought in $2.035 million. The lowest sale was $28,600 for the 1971 Alfa Romeo Montreal, which was within the vehicle's estimated value range. 36 items were sold above six figures and 7 were in the million dollar range. 18 vehicles sold above their estimated values.

As the gavel fell for the third and final time when the last of the 134 vehicles crossed the auction block, total sales had reached $61,331,250. The average sale of the auction was just over $500,000 per vehicle. 91% of the vehicles that crossed the block found new ownership.

Conclusion
With the average sale of the auction at $502,700, the Gooding & Company auction certainly reinforced the exclusivity, prestige, and pedigree of the Pebble Beach Concours d'Elegance. The 134 vehicles offered for sale were among the finest examples in existence.

With over a 90% of the vehicles sold, this was a very successful event.

Galleries

1884 De Dion Bouton et Trepardoux Dos-A-Dos  
1901 Panhard Tonneau  
1907 Rolls-Royce 40/50 HP Silver Ghost  
1908 Rolls-Royce Silver Ghost  
1909 Ford Model T  
1909 Rolls-Royce Silver Ghost  
1910 National Speedway Raceabout  
1910 Rolls-Royce Silver Ghost  
1911 Rolls-Royce 40/50 HP Silver Ghost  
1912 Chalmers Model 9  
1912 Rolls-Royce Silver Ghost  

1913 Rolls-Royce Silver Ghost  
1914 Kissel Model 40  
1914 Rolls-Royce Silver Ghost  
1914 White Model Thirty  
1915 Rolls-Royce 40/50 HP Silver Ghost  
1916 Simplex Model 5  
1916 Winton Six-33  
1919 Cole Model 870 Aero Eight  
1926 Rolls-Royce Phantom I  
1927 Bugatti Type 38  
1928 OM Tipo 665  
1929 Rolls-Royce Phantom I  

1930 Cadillac Series 452A V16  
1931 Alfa Romeo 6C 1750  
1931 Bentley 4.5-Liter  
1931 Packard Model 840 DeLuxe Eight  
1932 Auburn 8-100  
1932 Lincoln Model KB  
1933 Cadillac Series 355-C Eight  
1934 Cadillac Model 452D V16  
1935 Packard Twelve  
1935 Voisin C25  
1936 Packard One Twenty  

1938 Alvis Speed 25  
1938 Atalanta Short Chassis  
1938 Buick Series 40 Special  
1938 Packard 1607 Twelve  
1940 Coachcraft Roadster  
1940 Ford Deluxe  
1940 Lincoln Continental  
1940 Packard One-Ten  
1942 Hudson Super Six  
1948 Ferrari 166 Spyder Corsa  
1950 Emil Diedt Rochester Speical  
1951 Tom Beatty Belly-Tank Lakester  

1952 Jaguar XK 120  
1953 Buick Series 50 Super  
1954 Ford Crestline  
1955 Austin-Healey 100  
1956 Bentley S1  
1956 Continental Mark II  
1956 Mercedes-Benz 300 SC  
1957 AC Ace Bristol  
1957 BMW Isetta  
1957 Ferrari 410 Superamerica  

1958 Ferrari 250 GT Speciale  
1958 Fiat 600 Multipla  
1959 Ferrari 250 GT California  
1960 Lola MK1  
1961 Autobianchi Bianchina 500  
1961 Lotus 20  
1962 Aston Martin DB4  
1962 Maserati 5000 GT  
1963 Studebaker Avanti  
1964 Morgan Plus 4 Plus  
1964 Pontiac Catalina  
1964 Shelby Cobra 289  
1965 BMW 3200CS  

1966 ASA 1000  
1966 Ferrari 275 GTS  
1966 Ferrari 365 California  
1966 Shelby Cobra 427  
1967 Ferrari 275 GTB/4 Competition Speciale  
1967 Ferrari 275 GTB/4 NART  
1967 Ferrari 365 California  
1967 Ferrari 365 GTC Prototipo  
1967 Lamborghini 400 GT  
1967 Shelby Cobra 427  
1968 Porsche 911  

1971 Alfa Romeo Montreal  
1971 Lamborghini Miura P400SV  
1973 Ferrari 365 GTS/4 Daytona  
1974 Porsche Carrera RSR 3.0  
1981 Ferrari 400i  
1984 Ferrari 400i  
1984 Ferrari 412 Prototipo  
1985 Rolls-Royce Silver Spur  
1991 Rolls-Royce Corniche III  
2001 Ferrari 550 Barchetta  
2002 Rolls-Royce Park Ward  
2005 Ford GT  
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