McLaren F1 GTR at 2014 Gooding Scottsdale
McLaren F1 GTR at 2014 Gooding Scottsdale

Gooding & Company Scottsdale 2014 – Auction Report

Gooding & Company, Fashion Square, Scottsdale, Arizona, January 17-18, 2014

Report and photos by Rick Carey, Auction Editor

$49,446,095 in sales, a 94% sale rate (110 of 117 cars offered) is a huge result for Gooding & Company.

More to the point, however, are the number of cars that achieved exceptional, over-estimate prices: 14.6% of the lots offered. They were in some cases astounding and reflected in most cases collectors’ continuing fascination (perhaps better stated as ‘obsession’) with unrestored, barn find cars, contributing to Gooding’s Scottsdale result of hammer bids that exceeded their low estimates by 108.6%, the best in Scottsdale.

Gooding’s total was down substantially from last year’s benchmark total of $57.7 million, a comparison that reflects the intense competition among the top auctions for the best consignments. This is a see saw battle that pits auction companies and their specialists in a tooth-and-nail battle to secure the most valuable cars. Consignors can pick and choose among five premier auctions in Arizona in January, each offering a tailored mix of bidders, consignments and customer service.

David Gooding and Charlie Ross work some special magic on the auction block. Only a few cars fell short, but it is disappointing that they were not able to convey the appeal of cars like the rally equipped TR3 to the bidders, a car that should realistically have brought as much as or more than it had at Ft. Lauderdale last March. That is missed the market here at Gooding’s Scottsdale sale says a lot about the makeup of the consignments and the desires of the bidders.

Andrew Newton’s contribution to this auction report was indispensable.

Gooding & Company
Cars Offered / Sold
Sale %
Sold < Low Est
Sold > High Est
Average Sale
Total Sales
2014
117 / 110
94.0%
50.0%
14.6%
$449,510
$49,446,095
2013
106 / 101
95.3%
23.8%
36.3%
$571,700
$57,741,695
2012
118 / 116
98.3%
72.4%
8.6%
$343,827
$39,883,900
2011
129 / 121
93.8%
54.6%
6.6%
$289,098
$34,980,900
2010
125 / 114
91.2%
57.9%
13.2%
$298,186
$33,993,250
2009
101 / 84
83.2%
69.1%
4.9%
$386,226
$32,442,950
2008
93 / 86
90.1%
65.0%
8.3%
$328,589
$21,029,700

Gooding and Company Scottsdale 2014 – Auction Report

1985 Ferrari 288 GTO
Lot #7 1985 Ferrari 288 GTO; S/N ZFFPA16B000052475; Red/Black leather; Estimate $1,250,000 – $1,600,000; Visually maintained, largely original, 3+ condition; Hammered Sold at $1,275,000 plus commission of 10.00%; Final Price $1,402,500 – Clarion cassette, P/W. – Clean but visibly used although without nose or fenderwell lip chips. Scuffed driver’s seatback. Grey market car converted to US and California emissions. – For a long time 288 GTOs were under appreciated, especially when considered along with the later and more powerful F40, F50 and Enzo. That seems to have changed, a good thing for people who appreciate their advanced technical and engineering features and are prepared to deal with a ridiculously fast, lightweight Ferrari with minimal automatic driver interferences. This result is representative.
1971 Ferrari 365 GTB/4 Daytona
Lot #11 1971 Ferrari 365 GTB/4 Daytona, Body by Pininfarina; S/N 14643; Engine # B1312; Red/Black leather; Estimate $500,000 – $600,000; Cosmetic restoration, 3+ condition; Hammered Sold at $590,000 plus commission of 10.00%; Final Price $649,000 – Centerlock alloy wheels, Pirelli P4000 tires, Blaupunkt cassette stereo, P/S added, tools and manuals. – Good paint, interior and chrome. 37,185 miles. Engine is orderly and clean but not as good as the outside and hasn’t been restored. As a driver, though, it’s hard to beat. – Daytona values, if this transaction is any indication, are starting to feed off fancier and more rare Ferraris. Who knows where it ends?
1956 Ferrari 410 Superamerica Series I Coupe
Lot #14 1956 Ferrari 410 Superamerica Series I Coupe, Body by Pinin Farina; S/N 0475SA; Engine # 0475SA; Red/Natural leather; Estimate $2,250,000 – $2,750,000; Visually maintained, largely original, 3+ condition; Hammered Sold at $3,000,000 plus commission of 10.00%; Final Price $3,300,000 – Chrome spoke Borrani wire wheels, Excelsior blackwall tires, Marchal head and fog lights, Talbot outside mirrors. – Sound paint with some checking, good chrome and interior. The painter overlooked the windshield posts when wet sanding, and who knows what else? Seats are later, but the preserved originals come with the car. Owned many years by gunsmith Stan Baker. Chassis is oily from use, engine compartment is orderly and clean but aged. Never restored, just carefully maintained from the late 60’s to the present by Baker and Ken McBride. A driver quality Ferrari that’s been driven. – That should say, ‘driven as it should be.’ A choice Ferrari, not only because of its originality and continuous history of caring owners with the determination and resources to keep up with its needs but also because it’s one of just 16 Series I 410 Superamericas. It is impossible to argue with this result, even a bit over the generous Gooding & Co. estimate.
1973 Ferrari 246 GT Dino Chairs and Flares
Lot #25 1973 Ferrari 246 GT Dino Chairs and Flares, Body by Pininfarina; S/N 4946; Ice Blue/Tan leather, Black stripes; Estimate $425,000 – $475,000; Recent restoration, 2 condition; Hammered Sold at $430,000 plus commission of 10.00%; Final Price $473,000 – Chairs and Flares, P/W, Campagnolo alloy wheels, Michelin XWX tires, Becker Mexico cassette stereo. – Freshly restored in 2012 by Jon Gunderson with new, excellent cosmetics. Even gaps and flat panels. Underbody like new. Believed to be one of only five US-spec Chairs and Flares 246 GTs. – $649,000 for the largely original Daytona Lot 11, $473,000 for this accurately restored Chairs and Flares Dino? Some equilibrium has been re-established to the Ferrari market when Daytonas are worth more than Dinos, even at this Dino price.
1961 Ferrari 250 GT Coupe Speciale
Lot #29 1961 Ferrari 250 GT Coupe Speciale, Body by Pininfarina; S/N 2821GT; Engine # 2821; Ice Blue/Blue leather; Estimate $2,400,000 – $3,000,000; Recent restoration, 2+ condition; Hammered Sold at $2,150,000 plus commission of 10.00%; Final Price $2,365,000 – Chrome spoke Borranis, Dunlop blackwall tires, outside plug engine, disc brakes. – Erratic design with the 250GT nose and a sexy, curved greenhouse and tail in the coupe aerodinamica style, a car that looks ordinary from the front and seductive from the back although the low, chunky rear bumper belongs on an impostor. Freshly restored better than new. Excellent paint, chrome and interior. Fresh and sharp underbody. Pebble Beach 2001 class winner, 2002 FCA National Platinum and no worse for the passage of a dozen years than it was then. Impressive provenance including Lorenzo Zambrano and John Mecom, Jr. – This car should always be photographed from a high rear three-quarter angle that misses the 250GT nose, minimizes the chunky bumper and taillights and emphasizes the cute derriere. The coachbuilt 250GT enjoyed hype and brought a superior price for a car that will, seen approaching on the road, be dismissed by all but the most discerning onlookers as ‘just another 250 GT’ until it passes and they do a quick double-take at the shapely posterior.
1972 Alpine A110 1800 Coupe Group IV
Lot #36 1972 Alpine A110 1800 Coupe Group IV; S/N 18165; Blue, White, Red/Black; Estimate $300,000 – $400,000; Competition restoration, 3+ condition; Hammered Sold at $275,000 plus commission of 10.00%; Final Price $302,500 – Halda Tripmaster, Heuer Master Time and Monte Carlo chronometers, wide 2-piece wheels, Cibie driving lights. – Works team Group IV rally car, one of 13 used by the team with overall 2nds at Ronde de Serre Chevalier, Rallye Neige & Glace and 2nd in class at the Rallye Maroc. Later rallied with some success by privateers. Cosmetically sketchy but rally ready. – Unusual here in the States but a potent and well preserved example of Alpine/Renault rally history that should be ready to campaign in desirable vintage events here and especially in Europe. The rarity, originality and condition make it well worth the price it brought.
1958 Ferrari 250 GT Cabriolet SI, Body by Pinin Farina
Lot #39 1958 Ferrari 250 GT Cabriolet SI, Body by Pinin Farina; S/N 0791GT; Engine # 0791GT; Metallic Dark Blue/Natural leather; Black cloth top; Estimate $4,000,000 – $5,000,000; Cosmetic restoration, 3 condition; Hammered Sold at $5,600,000 plus commission of 10.00%; Final Price $6,160,000 – Chrome spoke Borrani wire wheels, blackwall Michelin X tires, Marchal head and fog lights, covered headlights, updated with factory fitted disc brakes – One of 40 250GT Series I Cabriolets, described as fitted with a later Ferrari-supplied new outside plug engine stamped 0761GT by Chinetti. First owned by Buck Fulp, later by Bob Donner who drove it 11 times in the Colorado Grand. Restored to high standards of fit and finish in 1975. Orderly but lightly aged underhood. Old undercoat has peeled and been painted over. A classy car that’s had classy owners who looked after it properly and sympathetically. – How much does ‘non-original engine’ count? From this breathtaking result (for a car in no way ready for a top rank concours or Ferrari event) it would seem not to be much. On the other hand, the combination of the Series I Pf Cabriolet (a better trimmed Cal Spider) and an impressively benign history is a compelling inducement to spending generously.
1956 Mercedes-Benz 300SL Gullwing
Lot #42 1956 Mercedes-Benz 300SL Gullwing; S/N 1980406500299; Engine # 1989806500303; Black/Burgundy; Estimate $1,100,000 – $1,400,000; Unrestored original, 4 condition; Hammered Sold at $1,725,000 plus commission of 10.00%; Final Price $1,897,500 – US-spec car, matching numbers, original tools but no luggage, steel wheels, hubcaps, blackwall tires. – Single family ownership for 50 years and parked since 1975. Mechanically complete but not running. Original paintwork (with some blending) and cracked, torn, seam-pulled upholstery and falling headliner. Ratty engine compartment. A classic barn find that needs everything. No rust, but dings and scrapes, interior trashed, chrome dull and dented, mechanically defunct. – Where to start? A non-running barn find Gullwing sold at Gooding Scottsdale in 2010 for $660,000. Four years later, a similar car now is three times the price. Even with prices quickly on the rise, little over half this amount can still buy a nicely restored Gullwing, like the very good example sold by Bonhams on Thursday for $1,078,000. The barn find mystique seems to know few if any bounds. This car brought irrational money.
1979 Ferrari 512BB Berlinetta
Lot #43 1979 Ferrari 512BB Berlinetta; S/N 27167; Engine # F102B00000375; Red, Black sills/Black leather, Red stripes; Estimate $180,000 – $220,000; Visually maintained, largely original, 3 condition; Hammered Sold at $170,000 plus commission of 10.00%; Final Price $187,000. No Reserve – Blaupunkt stereo, Cromodora centerlock alloy wheels, blackwall Michelin XWX tires, original owner’s manual, Amerispec federalized. – Mediocre repaint over old paint, erratically detailed. Good interior. 15,706km. – Believers that the Ferrari juggernaut will not soon (if ever) end should be crowding into carbureted 365 Boxers like this. Not a very attractively presented car, but sound and reasonably original, it has upside even at this market price today (for an owner who can afford the upkeep.)

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Show Comments (3)

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  1. Rick, speaking about Lot # 132 1960 Mercedes-Benz 300SL Roadster 300SL, you mention that these…

    “… are wonderful automobiles, but they are not – as recent auction consignment lists will verify – rare. How long this kind of nearly exponential run-up in values can continue is doubtful.”

    I wonder about the same thing. I’m especially baffled at the sales prices achieved recently on a couple of Jaguar E-Type prices, one here at Gooding, and one at RM’s November 2013 “Art of the Automobile” in New York (for a jaw-dropping $467,500)! E-Types are absolutely gorgeous, but they too are not rare!

    Is it simply a matter of two rich guys in the room at the same time, and they both have to have THAT CAR – NOW?

    Other factors? What’s going on?

    Thanks for your excellent summaries and insights.

  2. Probably one of the best reviews of an auction I have seen and I go to many in England.
    I could imagine the condition of the cars being described. Well done.

  3. I was the seller of the lot#125 Mercedes Benz 280 SL. I would agree with the overall write-up but the hammer price was $67,500 not the $74k mentioned. This car was also sold with a spare engine (not operating but original to the car) which was never really advertised. I am hoping that the new owner was pleased with how well-sorted the car is. It indeed was respectable transaction for both sides.