Gooding & Company Celebrates More Than $233 Million in Sales from Its 2016 Automotive Auctions

9 11 2016

With 50 Cars Sold for Over $1 Million, the Auction House Yields Highest Year-End Total in Company’s History

SANTA MONICA, CA – November 9, 2016 – (Motor Sports Newswire) –  Gooding & Company, the auction house acclaimed for selling the world’s most significant and valuable collector cars, is pleased to report its 2016 year-end auction sales total of more than $233 million. The company posted a strong 85% sell-through rate for 281 lots sold, with an average price per lot of $829,050. The 2016 year-end total is the highest ever for the auction house, whose events have become a destination for enthusiasts from around the world. Thousands tuned in from over 50 nations to witness the Gooding & Company auctions live via the company’s HD webcast.

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“I am elated by our impressive 2016 results and look forward to the quality offerings our team will deliver to the global car community in the coming year,” said David Gooding, President of Gooding & Company. “We will continue to see strong demand for vehicles from top marques that represent the very best in their categories.”

The auction house’s top sales this year were the 1959 Ferrari 250 GT LWB California Spider Competizione that sold for $18,150,000, the 1962 Ferrari 250 GT SWB California Spider that sold for $17,160,000, the 1960 Ferrari 250 GT SWB Berlinetta Competizione that sold for $13,500,000, the 1933 Alfa Romeo 8C 2300 Monza that sold for $11,990,000, the 1932 Bugatti Type 55 Roadster that sold for $10,400,000, and the 1950 Ferrari 166 MM/195 S Berlinetta Le Mans that sold for $6,490,000. These sales confirm the Gooding & Company auction block as the premier setting to present renowned and historic collectibles.

Summary of Top Lots and World Records

Top Ten Lots Sold in 2016:

  • 1959 Ferrari 250 GT LWB California Spider Competizione (sold for $18,150,000)
  • 1962 Ferrari 250 GT SWB California Spider (sold for $17,160,000)
  • 1960 Ferrari 250 GT SWB Berlinetta Competizione (sold for $13,500,000)
  • 1933 Alfa Romeo 8C 2300 Monza (sold for $11,990,000)
  • 1932 Bugatti Type 55 Roadster (sold for $10,400,000)
  • 1950 Ferrari 166 MM/195 S Berlinetta Le Mans (sold for $6,490,000)
  • 1950 Ferrari 166 MM Berlinetta (sold for $5,445,000)
  • 1955 Porsche 550 Spyder (sold for $5,335,000)
  • 1979 Porsche 935 (sold for $4,840,000)
  • 1967 Ferrari 330 GTC Speciale (sold for $3,410,000)

Top Five World Auction Records in 2016 (model specific):

  • 1959 Ferrari 250 GT LWB California Spider Competizione (sold for $18,150,000)
  • 1960 Ferrari 250 GT SWB Berlinetta Competizione (sold for $13,500,000)
  • 1933 Alfa Romeo 8C 2300 Monza (sold for $11,990,000)
  • 1932 Bugatti Type 55 Roadster (sold for $10,400,000)
  • 1950 Ferrari 166 MM/195 S Berlinetta Le Mans (sold for $6,490,000)

Scottsdale Auctions, January 29 & 30, 2016

  • $43,011,050 in total sales
  • 97 of 113 lots sold
  • 86% sales rate
  • Four new world records
  • Nine cars sold for over $1 million

At the Scottsdale Auctions, Gooding & Company continued to see high demand for exceptional Ferraris from renowned Italian coachbuilders. Most notably, the 1950 Ferrari 166 MM/195 S Berlinetta Le Mans sold for a record price of $6,490,000. The remarkable coachbuilt 1967 Ferrari 330 GTC Speciale also prompted a rousing bidding war, selling for $3,410,000 and breaking a world auction record for the model. Gooding & Company proudly offered Ferrari supercars from the Tony Shooshani Collection; Sue Callaway of Fortune described Mr. Shooshani as “one of Ferrari’s biggest and most loyal current collectors.” The collection garnered strong results, which included the 2003 Ferrari Enzo (sold for $2,860,000), the 1995 Ferrari F50 (sold for $2,400,000) and the 1990 Ferrari F40 (sold for $1,534,000).

Amelia Island Auction, March 11, 2016

  • $60,162,150 in total sales – highest sale total in Amelia Island history
  • 69 of 79 lots sold
  • 87% sales rate
  • Nine new world records
  • Fifteen cars sold for over $1 million

In March at The Amelia Island Auction at the Omni Plantation’s Racquet Park, Gooding & Company was honored to offer 18 collector cars from the ultimate Porsche connoisseur, Mr. Jerry Seinfeld. Following Mr. Seinfeld’s introduction on stage by David Gooding, “Mr. Ross wielded his magic,” stated David Shaftel, New York Times, as $22.2 million was garnered by selections from The Jerry Seinfeld Collection. Highpoints from The Seinfeld Collection included the 1955 Porsche 550 Spyder (sold for $5,335,000) and the 1974 Porsche 911 IROC RSR (sold for $2,310,000). Following The Seinfeld Collection, the star of the day, the iconic 1962 Ferrari 250 GT SWB California Spider, roared onto the stage. Auctioneer Charlie Ross commanded a strong round of bidding until the car sold for a final price of $17,160,000, the most expensive lot sold at Amelia Island this year.

Pebble Beach Auctions, August 20 & 21, 2016

  • $129,789,750 in total sales
  • 115 of 138 lots sold
  • 83% sales rate
  • Average price per car sold: $1,128,606
  • 20 world records
  • 26 cars sold for over $1 million
  • Five cars sold for over $10 million

Gooding & Company is the official auction house of the Pebble Beach Concours d’Elegance®, and at this year’s Pebble Beach Auctions, the company broke numerous world records across multiple marques. These included the sensational 1959 Ferrari 250 GT LWB California Spider Competizione sold for $18,150,000 – a new record for a Ferrari LWB California Spider and a new company record for a single lot sold at auction. Scott Reyburn, New York Times, stated “Gooding & Company has made a specialty of selling the classic, road-friendly Ferrari 250 GT convertible.” Additional auction benchmarks that were set included the stunning 1960 Ferrari 250 GT SWB Berlinetta Competizione (sold for $13,500,000), the historic 1933 Alfa Romeo 8C 2300 Monza (sold for $11,990,000); the 1932 Bugatti Type 55 Roadster (sold for $10,400,000) driven by Achille Varzi in the 1932 Mille Miglia; and the 1979 Porsche 935 (sold for $4,840,000) driven by Paul Newman at the 1979 24 Hours of Le Mans.

Looking Forward to 2017

Gooding & Company’s auctions, now in their second decade, produce market-leading prices and command the attention of collectors worldwide. The prestigious auction house will be conducting its 10th annual Scottsdale Auctions on January 20 and 21 at Scottsdale Fashion Square, located in Old Town Scottsdale. Consignments include the 1925 Bugatti Type 35 Grand Prix (estimate: $2,600,000-$3,200,000) that has just three owners from new. The next annual Amelia Island Auction will take place on March 10 in Amelia Island, Florida, and the annual Pebble Beach Auctions will be held August 19 and 20 in Pebble Beach, California.

Website: www.goodingco.com
Facebook: www.facebook.com/GoodingandCompany
Instagram: @GoodingandCompany
Twitter: @GoodingandCo
Snapchat: @GoodingandCo
YouTube: http://www.youtube.com/user/GoodingandCompany
RSS: http://www.goodingco.com/feed/?post_type=press
Phone: 310.899.1960

Source: Gooding & Company Inc.

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