Reflecting the Superb Quality of Offerings, Gooding & Company Posts Over $201 Million in Total Sales from its 2018 Automotive Auctions

Gooding & Company - 1935 Duesenberg SSJ sold for $22 million

Auction house attained a 30% increase from 2017 sale totals; company also sells
most valuable pre-war car in world auction history

SANTA MONICA, CA – December 5, 2018 – (Motor Sports Newswire) –  Gooding & Company, the auction house acclaimed for selling the world’s most significant and valuable collector cars, garnered more than $201 million for 316 lots sold in 2018 and posted a strong 87% sale rate from the auction house’s three celebrated venues. Buyers responded to the quality and rare offerings as 51 cars sold above the $1 million mark and 56 new world auction records were established. Throughout 2018, Gooding & Company continued its tradition as the Porsche market leader, with over $42 million in sales in this esteemed marque, at an average price of $509,711 with a 92% sell-through rate. The heralded auction house also achieved numerous historic and record-breaking Ferrari sales this year that resulted in over $61.5 million in total sales dispersed over just 49 cars within the esteemed marque and delivering an average price of over $1.25 million for each prancing horse.

Gooding & Company - 1936 Bugatti Type 57 Two-Light Vertoux
1936 Bugatti Type 57 Two-Light Vertoux – Estimate: $900,000 – $1,100,000

“2018 has been one of our most successful years to date. We have seen great strength at the top of the market, especially for illustrious collector cars that have rarely or never seen an auction block, such as the Duesenberg SSJ and the Ferrari 275 GTB Speciale,” says David Gooding, President and Founder of Gooding & Company. “We witnessed dynamic bidding at all three events, including the most valuable car sold in Scottsdale with the 275 GTB Speciale, a 95% sales rate at Amelia Island, the world’s most valuable American car ever sold with the $22 million Duesenberg SSJ at Pebble Beach. A further highlight was that we sold four of the top ten most-expensive cars in 2018. I anticipate continuing this achievement into 2019.”

Top Ten Lots Sold at Auction in 2018

  • 1935 Duesenberg SSJ, sold for $22,000,000
  • 1965 Ferrari 275 GTB Speciale, sold for $8,085,000
  • 1958 Ferrari 250 GT Tour de France Berlinetta, sold for $6,600,000
  • 1955 Maserati A6GCS/53 Spider, sold for $5,170,000
  • 1955 Ferrari 500 Mondial Series II, sold for $5,005,000
  • 2007 Porsche RS Spyder, sold for $4,510,000
  • 1955 Porsche 550 Spyder, sold for $4,455,000
  • 1954 Ferrari 500 Mondial Series I, sold for $4,455,000
  • 1931 Bugatti Type 55 Roadster, sold for $4,070,000
  • 1931 Bugatti Type 51 Grand Prix, sold for $3,740,000

Top Five World Auction Records in 2018 (model specific)

  • 1935 Duesenberg SSJ, sold for $22,000,000
  • 1965 Ferrari 275 GTB Speciale, sold for $8,085,000
  • 1955 Maserati A6GCS/53 Spider, sold for $5,170,000
  • 1955 Ferrari 500 Mondial Series II, sold for $5,005,000
  • 2007 Porsche RS Spyder, sold for $4,510,000

The first quarter proved to be a particularly bright spot for the auction house. At both the Scottsdale and Amelia Island auctions, Gooding & Company bested its direct competition in nearly every category. The company sold the most valuable car across all auction houses at both events. In addition, the auction house also surpassed its competition in average price per car sold, as well as total auction sales. All of these great results created a strong momentum for the company leading into the Pebble Beach Auctions, the final event of Gooding & Company’s auction calendar and the biggest auction event of the year.

The Scottsdale Auctions, January 19 & 20, 2018

  • $49.2 million in total sales
  • 12 cars sold above $1 million
  • 20 new world auction records
  • 110 of 129 lots sold for an 85% sales rate
  • Average price of $447,415 per lot sold
  • Most valuable car sold across all auction houses during Arizona Automotive Week

Gooding & Company’s annual Scottsdale Auctions realized over $49 million in two days, the highest sale total against our immediate competition. A wall-to-wall crowd watched as the stars of the weekend rolled across the block, with the 1965 Ferrari 275 GTB Speciale – originally owned by Battista Pininfarina – selling for a world-record price of $8,085,000, the 1954 Ferrari 500 Mondial selling for a world-record price of $4,455,000, and the 1931 Bugatti Type 55 Roadster selling for $4,070,000. Additional highlights included the striking 2014 Pagani Huayra (sold for $2,090,000), the Iso Grifo A3/L Prototype (sold for $1,760,000), the 2015 McLaren P1 (sold for $1,732,500), and the 1953 Ferrari 212 Europa Coupe (sold for $1,067,000).

The Amelia Island Auction, March 9, 2018

  • $35.9 million in total sales
  • 14 cars sold above $1 million
  • 13 new world auction records
  • 83 of 87 lots sold for an 95% sales rate
  • Average price of $432,978 per lot sold
  • Highest sale total and sell-through rate across all auction houses that week

This year was one of Gooding & Company’s most successful single-day auctions with a 95% sale rate, over $35 million in total sales and 14 cars sold above $1 million. Amelia Island and Porsche have become synonymous in recent years, largely due to the company offering the greatest Porsches from the most prestigious collections. Significant Porsche sales included the

extraordinary 1993 Porsche 964 Turbo S Leichtbau (sold for $1,760,000), the 1990 Porsche 962C (sold for $1,595,000), the 2015 Porsche 918 Spyder (sold for $1,540,000), and the 1996 Porsche 993 GT2 (sold for $1,485,000). The automotive world was abuzz when the company consigned two highly desirable and rare sports cars that had been parked and left untouched in the same garage since 1991. Demand for these preservation-class quality cars was high, as the Ferrari 275 GTB Long Nose Alloy garnered $2,530,000, and the 1967 Shelby 427 Cobra sold for $1,045,000.

The Pebble Beach Auctions, August 24 & 25, 2018

  • $116.5 million in total sales
  • 25 cars sold above $1 million
  • 23 new world auction records
  • 123 of 147 lots sold for an 84% sales rate
  • Average price of $947,174 per lot sold
  • Most valuable prewar and American car ever sold

Gooding & Company celebrated its 15th annual Pebble Beach Auctions and this year the company achieved over $116.5 million from 123 lots sold. The star of the weekend’s auction action was the highly admired 1935 Duesenberg SSJ. The company was honored to be selected by the famed Miles Colliers Collections to present one of the all-time greatest classics. Witnessing one of the most profound public offerings in auction history, the crowd erupted with applause after a rousing bidding war resulted in a realized price of $22 million – a price that was over twice the sum of the pre-auction estimate. The SSJ claimed two world records: the most valuable pre-war ever sold at auction and the most valuable American car ever sold at auction. This was the first time an SSJ crossed an auction block as it is one of only two ever built. This world record price, which also established a new company record for a single lot, illustrates the car’s extraordinary historical significance.

Gooding demonstrated that exciting Ferraris continue to deliver exceptional results. The audience stood in honor of Admiral Robert Phillips, one the premier Ferrari conservationists, as he took his last drive in his 1955 Ferrari 500 Mondial Series II after 58 years of ownership, delivering it to the auction block. After a lengthy bidding war, the French Racing Blue Ferrari sold for a world record price of $5,005,000. The beautiful 1959 Ferrari 250 GT Tour de France Berlinetta sold for $6,600,000. The stunning 1967 Ferrari 330 GTC Speciale sold for a record price of $3,410,000, and the one-of-two 1966 Ferrari Dino Berlinetta GT sold for $3,080,000.

2018 Private Treaty Sales

In addition to auctions of unrivaled prestige, Gooding & Company continues its tradition of discreet private sales of many of the world’s finest automobiles. With decades of brokerage experience, the auction house offers a holistic understanding of a collector’s motivations, along with access to an international pool of potential buyers. Throughout 2018, Gooding & Company sold some of the world’s greatest and most valuable motor cars from Ferrari, Bugatti, Alfa Romeo, and other esteemed marques to exceptional new homes from around the globe. Representative examples of these sales include the highly original 1960 Alfa Romeo Giulietta SZ with coachwork by Zagato and the iconic 1931 Alfa Romeo 6C 1750 Series V Gran Sport, offered from over 50 years of single family ownership.

Looking Forward to 2019

The company’s annual Scottsdale Auctions take place on January 18 and 19, 2019 and are held adjacent to the Fashion Square Mall and charming Old Town Scottsdale. An early highlight for the event includes the rare 1936 Bugatti Type 57 Two-Light Ventoux (estimate: $900,000 – $1,100,000) which comes from long-term ownership from one of the great American Bugatti enthusiasts and is presented in highly original, largely unrestored condition.

The 10th annual Amelia Island Auction will take place on March 8, 2019 at the Omni Amelia Island Plantation where Gooding & Company delivers its distinguished auction presentation to this renowned Floridian event. The annual Pebble Beach Auctions are held on August 16 and 17, 2019, where Gooding & Company is the official auction house of the Pebble Beach Concours d’Elegance® and the only auction held behind the gates of this world-renowned destination. The company is pleased to offer real-time online and mobile bidding on select vehicles for all of its upcoming events.

About Gooding & Company

Gooding & Company is celebrated for its world-class automotive auctions and unparalleled service in the international collector car market. In 2018, the company achieved over $201 million in total sales and 56 new world auction records established. The auction house delivers market-leading results, while identifying new trends and delivering best-of-category cars across numerous collector car verticals. Gooding & Company consistently presents the highest-quality consignments while operating with openness and integrity, which has earned the auction house a reputation of trust and respect unmatched in the industry. Offering a wide range of services including private and estate sales, appraisals and collection management, the auction house is ready to assist you with numerous collector car services. Please visit goodingco.com for more details and to download the company’s app on Android and iOS.

Source: Gooding & Company Inc.

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