Gooding and Company reported its 2017 year-end auction sale total of more than $155 million with an 82 percent sell-through rate for 285 lots sold, averaging over $543,000 per car. A total of 40 cars sold above the $1 million mark and 42 auction records were established.
“We continue to see strong demand for cars that combine all the attributes of rarity, performance, historical significance and provenance,” said David Gooding, President of Gooding & Company. “In this market, we are observing a greater divide between good, better, and best, and clients are increasingly selective with their purchases. This is why we strive to offer only the best examples from a variety of categories of cars and the reason why we see new clients return after each auction event.
Throughout 2017, Gooding & Company sold more than $42 million in Porsche models, with an average price of $682,298 for the German marque. Gooding also set a record for the most valuable Porsche sold at auction with the 1970 Porsche 917K that sold for $14,080,000 at the Pebble Beach Auctions, besting the standard it had set in 2015 with the 1982 Porsche 956 that sold for $10,120,000. The auction house now holds seven of the top ten records for most valuable Porsches ever sold at auction.
Gooding and Company 2017 – Top Ten Lots Sold
- 1966 Ferrari 275 GTB/C – $14,520,000
- 1970 Porsche 917K – $14,080,000
- 1998 Porsche 911 GT1 Strassenversion – $5,665,000
- 1959 Ferrari 250 GT Series I Cabriolet – $4,840,000
- 1956 Maserati A6G/54 Berlinetta – $4,400,000
- 2015 Ferrari LaFerrari – $3,520,000
- 1925 Bugatti Type 35 Grand Prix – $3,300,000
- 1954 Ferrari 500 Mondial Series I – $3,162,500
- 1965 Ferrari 500 Superfast – $2,915,000
- 1958 BMW 507 Series II – $2,750,000
Gooding and Company 2017 – Top Five Auction Records (model specific)
- 1966 Ferrari 275 GTB/C – $14,520,000
- 1970 Porsche 917K – $14,080,000
- 1998 Porsche 911 GT1 Strassenversion – $5,665,000
- 1956 Maserati A6G/54 Berlinetta – $4,400,000
- 1925 Bugatti Type 35 Grand Prix – $3,300,000
The Scottsdale Auctions, January 20-21, 2017
- $33.4 million in total sales
- Nine cars sold above $1 million
- Nine auction records
- 106 of 126 lots sold
Gooding & Company’s annual Scottsdale Auctions in January realized over $33 million in two days. Nine new benchmarks were set and nine cars sold for over $1 million. The most notable sales were the 1925 Bugatti Type 35 Grand Prix, which achieved a record price of $3,300,000, and the 1965 Ferrari 500 Superfast, which realized $2,915,000. Paddles were also flying for sports cars, with the 1969 AMC AMX/3 (sold for $891,000) achieving a record for the AMC marque. Additional cars included the 2011 Ferrari 599 SA Aperta (sold for $1,485,000), a record price for the model, and the 1964 Shelby 289 Cobra (sold for $1,100,00). The 1955 Mercedes-Benz 300 SL Gullwing from single family ownership sold for $1,457,500.
The Amelia Island Auction, March 10, 2017
- $30.6 million in total sales
- Nine cars sold above $1 million
- 13 auction records
- 69 of 88 lots sold
In March, at the Amelia Island Auction held at the Omni Plantation Racquet Park, Gooding & Company realized over $30 million in a single day from 69 lots sold, with nine cars selling for over $1 million. The star of the day, the 1998 Porsche 911 GT1 Strassenversion — $5,665,000, a record for the model and for the Porsche 911. Thirteen new benchmarks were set among the Porsche, McLaren, Aston Martin and Mazda marques. The 2015 McLaren P1 (sold for $2,392,500) also achieved a record price. The P1’s proceeds were pledged to endow a chair at the Rose-Hulman Institute of Technology. Other notable sales included the 1989 Mazda 767B (sold for $1,750,000) that raced at the 1989 24 Hours of Le Mans, and the 1949 Aston Martin DB Mk II (sold for $1,540,000), formerly owned by company head David Brown.
The Pebble Beach Auctions, August 18-19, 2017
- $91.5 million in total sales
- 22 cars sold above $1 million
- 20 auction records
- 110 of 135 lots sold
- Most valuable Porsche and BMW ever sold at auction
At this year’s Pebble Beach Auctions, Gooding & Company achieved over $91 million from 110 lots sold, with 22 lots selling at or above the $1 million mark. The new Friday-Saturday auction schedule proved to be popular for both buyers and sellers. Attendance and the number of new registered bidders soared, which resulted in 20 record prices, including the most valuable examples of a Porsche and BMW sold at auction. The company’s 1970 Porsche 917K realized a record-setting $14,080,000, while the star of Saturday’s auction, the 1966 Ferrari 275 GTB/C, set a record for the model at $14,520,000 — the highest price for the marque across all auction houses in 2017.
2017 Private Treaty Sales – In addition to auctions, Gooding & Company sold examples from the Bugatti, Ferrari, Mercedes-Benz, Alfa Romeo and Porsche marques to new homes from around the globe. Representative examples include the original 1934 Alfa Romeo 8C 2300 Figoni Cabriolet and an unrestored 1972 Ferrari 365 GTB/4.
Looking Forward to 2018
Gooding will be conducting its annual Scottsdale Auctions on January 19-20, 2018, located at Scottsdale Fashion Square in Arizona. Early highlights include the 2014 Pagani Huayra (estimate $2,200,000 – $2,600,000) that features exposed carbon fiber bodywork, and is offered with less than 1,000 miles from new. The next Amelia Island Auction will take place on March 9, 2018 in Amelia Island, Florida, and the annual Pebble Beach Auctions will be held August 24-25, 2018 in California.
For more information, visit GoodingCo.com.
[Source: Gooding & Company]
