Gooding and Company Scottsdale 2016 – Auction Report
Gooding and Company, Fashion Square, Scottsdale, Arizona, January 29-30, 2016
2016 was a solid performance by Gooding and Company in Scottsdale, reflecting the collector car market, the world economy and increased competition from established and upstart auction companies for headline consignments.
It’s rough out there, and all the Arizona collector car auctions were feeling the heat.
Under the circumstances Gooding & Company’s accomplishment was to assemble one of their typically diverse consignments of quality cars and sell them effectively to a large crowd nearly filling the tent adjacent to Fashion Square.
The absence of a high seven- or eight-figure headline car depressed the total sale to the lowest it’s been since 2012, but note in the table below that the median transaction is the highest it’s been since 2013. It’s the median that characterizes the overall quality of the cars – and the bidders’ willingness to match quality with price.
There was no shortage of highly valuable cars, including the gorgeous Ferrari 166MM (s/n 0060M) that brought a fully deserved $6.49 million; Duesenberg Model J Dual Cowl Phaeton (s/n 2151) sold for $4.42 million; Ferrari 330 GTC Coupe Speciale by Pininfarina (s/n 10107) for $3.41 million and the trio of Tony Shooshani’s late model supercars, the F40 (s/n…86554) for $1,534,500, F50 (s/n …99999) for $2.4 million and Enzo (s/n …$2.86 million.)
On the other hand, both the Ferrari 250 GT Cabriolet SIIs came up short at $1.55 million (s/n 1967GT) and $1.65 million (s/n 1939GT), results that reflect a generally moderating trend in values across all the ‘Scottsdale’ auctions. Enthusiasm, and the bubble-inflating inducement to ‘buy now before it costs more later’ was supplanted by a more measured consideration of intrinsic and relative values not only among Ferraris but also with other marques and models.
The more considered approach of bidders in Scottsdale has been mirrored in February’s fine art auctions in London, so it’s not just the collector car world.
Gooding should be recognized, however, for its innovative offering of the 2014 Indianapolis 500-winning Dallara DW12 Andretti Autosport IndyCar, a package deal that added insider IndyCar access to the buyer and friends at the next three years of IndyCar races to the chance not only to own an Indy 500 winner (and 2012 IndyCar Championship winner) but also to participate in the potential upside as this car continues to be raced by Andretti AutoSport in IndyCar speedway events through 2018. It has three more chances to win the 500 again, which has value consequences that are inestimable.
It was a ground-breaking attempt by David Gooding and Michael Andretti to expand the concept and availability of top drawer American racing sponsorship to a new audience. While it didn’t connect in Scottsdale it deserves to be tried again.
Here are the numbers:
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Andrew C. Newton contributed some of the on-site observations and photographs; final comments are the responsibility of the editor.
Gooding and Company Scottsdale 2016 – Auction Report
Lot # 19 1985 Ferrari 288 GTO Coupe, Body by Scaglietti; S/N ZFFPA16B00005569; Red/Black leather; Estimate $2,000,000 – $2,400,000; Unrestored original, 2- condition; With Reserve; Not sold at Hammer bid of $1,750,000 – CD stereo, power windows, modular wheels, Toyo tires, SF shields, fitted luggage, tools, books. – Very good original paint and interior. Owned for years by FCA judge Stephen Hill, meticulously maintained while still being used and enjoyed. Belt serviced in 2013. Comes with many spare parts and original items like Goodyear Gatorback tires and oil filters. Ferrari Classiche certified. – This is an exceptional 288 GTO, a model that has finally found its following but is forever burdened by looking like a 308 GTB on steroids. The reported high bid was not unrealistic, but neither was the consignor’s decision to hang onto this zealously maintained example in search of a more appreciative audience. (photo: Gooding & Co.)Lot # 25 1952 Allard J2X Roadster; S/N 3062; Engine # 526225912; Red/Black leather; Estimate $475,000 – $550,000; Recent restoration, 2+ condition; With Reserve; Hammered Sold at $410,000 plus commission of 10.00%; Final Price $451,000 – 331 Cadillac, six Stromberg 97s, 255hp, 3-speed, chrome wire wheels, Dunlop Racing tires, dual sidemounts with mirrors, dual aeroscreens, Brooklands banjo spoke steering wheel, Lucas headlights with mesh stoneguards, cycle front fenders, chrome paperclip rollbar. – Excellent, fresh, paint, chrome and interior. Freshly restored to better than new with little evidence of post restoration use, done right but not overdone. Originally Chrysler Hemi powered. – Everything expected of a J2X until the bonnet opens, then much more even if the 255hp does challenge the handling of Sydney Allard’s rudimentary chassis. There is no argument at all with the price it brought.Lot # 26 1972 Maserati Bora 4.9 Coupe; S/N AM11749562; Black, Stainless roof/Red leather; Estimate $180,000 – $220,000; Visually maintained, largely original, 3- condition; No Reserve; Hammered Sold at $170,000 plus commission of 10.00%; Final Price $187,000 – Blaupunkt multiband radio, power windows, air conditioning. – Casually masked old repaint with a few scratches and chips. Worn original upholstery. Badly frayed original driver’s shoulder belt. Loose body side molding. Scuffed bright trim. Peeling old undercoat with surface rust underneath. A Maserati with many needs and few good surprises. – The catalog recounts occasional mechanical work in the past ten years or so, but nothing comprehensive, a record consistent with the erratic presentation. This result is a deft compromise between this Bora’s presentation and its innate rarity and performance potential. Boras are unlikely ever to catch up with their mid-engined V12 competition from Maranello, but at a third or less the price still represents potentially good value for money, value tempered in this case by any number of needs that will not be inexpensive to fix.Lot # 28 1963 Ford Thunderbird Sport Roadster; S/N 3Y89M106102; Red/Black leather; Black vinyl top; Estimate $200,000 – $250,000; Recent restoration, 2+ condition; No Reserve; Hammered Sold at $112,500 plus commission of 10.00%; Final Price $123,750 – Every possible option, including the M-code 390/340hp engine with three deuces, except an FM radio. – Extensively detailed since it was acquired in 2011, AACA Grand National, Best Postwar award winner. Beyond perfect. – Sold at Russo and Steele here in the Valley of the Sun in 2011 for $77,000, this is a T-bird fanatic’s obsessive pursuit of perfection in accuracy and presentation. Even among T-bird fanatics there is unlikely to be a better, nor better equipped, one and it brought a representative price, despite being barely half the low estimate.Lot # 29 1948 Alfa Romeo 6C 2500 SS Cabriolet, Body by Stabilimenti Farina; S/N 915670; Engine # SS923773; Grey/Burgundy, Grey leather; Grey cloth top; Estimate $800,000 – $1,000,000; Older restoration, 2- condition; With Reserve; Hammered Sold at $920,000 plus commission of 10.00%; Final Price $1,012,000 – RHD. Chrome wire wheels, Michelin tires, Autovox radio, trafficators. – Restored in the late 90’s and still with very good paint, chrome and upholstery. Neat but aging engine compartment. Driver’s seat cushion is barely creased. A quality older restoration with some age but little use that is holding up extremely well. – The quality of the late 90’s German restoration is apparent in its preservation and the 8,697km (probably since restoration) showing on the odometer. It is a stunning car in these colors, showing the lines of Stab. Farina’s sleek coachwork to advantage. It is a trophy car at an appropriate price.Lot # 30 1965 Buick Riviera GS Sport Coupe; S/N 494475H930646; Burgundy/White vinyl; Estimate $50,000 – $60,000; Older restoration, 2- condition; No Reserve; Hammered Sold at $110,000 plus commission of 10.00%; Final Price $121,000 – 425/360hp, automatic, AM-FM air conditioning, power steering, power brakes, power windows, power seat, chrome styled steel wheels, narrow whitewalls. – Very good older paint, chrome and interior. Restored a while ago and holding up well; a thorough detailing could bring it back to show quality. – Offered at Mecum Anaheim in 2012 and Indy in 2013 where it was bid to $65,000 and $60,000 respectively, this Riviera found its market at Fashion Square, as it should have. It is a Detroit design milestone, clean, crisp and elegant, that is as much admired today as it was when it was new and the 425/360hp Nailhead V-8 only adds to its allure. Nothing should have prepared the audience for the price it brought, however, easily double what it was expected to bring and bringing a curve-setting result (or a dramatic outlier.)Lot # 32 1989 Ferrari 328 GTB Coupe, Body by Pininfarina; S/N ZFFCA19S000080998; Red/Black leather; Estimate $140,000 – $180,000; Unrestored original, 2- condition; No Reserve; Hammered Sold at $150,000 plus commission of 10.00%; Final Price $165,000 – Air conditioning, power windows, no radio. – Very good original paint and interior. An exceptionally clean used car recently imported from Sweden and showing a believable 23,287 km. – This is a generous result for a $75K car, even taking its originality into account.Lot # 33 1950 Ferrari 166 MM Berlinetta Le Mans, Body by Touring; S/N 0060M; Engine # 0060M; Blue/Black leather; Estimate $5,750,000 – $6,500,000; Recent restoration, 2+ condition; With Reserve; Hammered Sold at $5,900,000 plus commission of 10.00%; Final Price $6,490,000 – RHD. Silver painted wire wheels, Dunlop Racing tires, Marchal head and fog lights. – Raced by Cornacchia and Serafini when new, then exported to Chinetti in New York after it was shown at the 1950 Paris Salon. Bought by Briggs Cunningham for whom it was upgraded to 195S specs, then entered in Sebring driven by Chinetti and finishing 7th overall and first in class. Later raced at Buenos Aires finishing 7th driven by Jim Kimberly, Bridgehampton (Phil Walters 2nd) and Watkins Glen (John Fitch 2nd.) Later owned by Henry N. Manney III, with a long, active career following until it was restored in 2001, taking second in class at Pebble Beach. Excellent paint, interior and bright trim. Freshly done to better than showroom condition without going too far. Represented as the original engine, chassis, gearbox and rear axle. – This important and beautiful 195-spec 166 MM has a significant race history in the hands of recognized hero-level drivers. It is beautifully and sympathetically restored by a recognized expert and is little exposed to the public since Pebble Beach 2001. Among the 87 Ferraris offered in Scottsdale it is, by more than a factor of two, the most expensive. The runner-up is, however, a 330 GTC and this MM is more than twice the car in any number of ways. While the price is appropriate in today’s Ferrari market, the new owner has gotten very good value for the money.
Gooding and Company Scottsdale 2016 – Auction Report Page Two
Lot # 41 1960 Ferrari 250 GT Cabriolet SII, Body by Pinin Farina; S/N 1967GT; Engine # 1967GT; Ice Blue, Ice Blue hardtop/Tan leather; Dark Blue cloth top; Estimate $1,800,000 – $2,200,000; Older restoration, 2- condition; With Reserve; Not sold at Hammer bid of $1,550,000 – Chrome spoke wire wheels, Michelin X tires, two tops, Marchal head and fog lights. 398F engine internal number and represented as the original engine. – Very good paint, chrome and interior. Underbody done a while ago and shows age and use. Orderly and attractive underhood without being overdone. – Traded around in the late 90’s, selling for $137,500 at the Rick Cole/RM Monterey auction in 1997, then at the Kruse Scottsdale auction in January 1998 for $110,250 and a week later at Barrett-Jackson for $143,325.Lot # 47 2012 Dallara DW12 Honda Indy Car; S/N DW12057; Yellow, DHL/Black; Estimate $600,000 – $750,000; Competition car, original as-raced, 2+ condition; With Reserve; Not sold at Hammer bid of $460,000 – 2014 Indianapolis 500-winning, 2012 IndyCar Championship driven by Ryan Hunter-Reay with 2016 Speedway aero package. – Race ready and planned to continue to compete through the 2018 season. At conclusion Andretti Autosport will restore it to its 2014 Indianapolis 500-winning configuration, less the engine which is leased from Honda. Another Indy 500 win (the car has three more chances before it’s retired) would increase its value by an order of magnitude. – This is an unprecedented and imaginative shot at expanding race sponsorship through a collector car auction. The car will continue to be maintained and raced (with whom behind the wheel is not stated) through the end of the current rules package in 2018 and with primary sponsorship not specified. The buyer would get two season-long passes to all IndyCar events with Andretti Autosport hospitality included plus four more for guests at all IndyCar races except the two at Indianapolis. The deal is built on the perks. Based on a 16-race season (as scheduled for 2016) that’s 42 events with six access/hospitality passes, plus 6 events at the Brickyard for the principal and one other only: 258 passes. Call it $100K for the Indy-winning car and the reported high bid works out to $1,395/person/event. That’s not a cheap date, but for someone who likes racing it’s more than reasonably priced for exceptional access. Honda should throw in the Indy-winning engine to make it even better. It’s a concept that deserves more exposure, and maybe tweaking the formula. Of course, should DW12-057 win another Indy 500 it becomes rather moot. (photo: Gooding & Co.)Lot # 49 1966 Ferrari 275 GTB Long Nose Coupe, Body by Scaglietti; S/N 08869; Engine # 08869; Red/Black leather; Estimate $2,600,000 – $3,000,000; Older restoration, 2- condition; With Reserve; Not sold at Hammer bid of $2,100,000– Chrome spoke Borranis, Michelin XWX tires. – Excellent paint and chrome. Lightly surface creased upholstery. Undercoated wheelwells and chassis showing some age and use. Modified for historic competition by Marc Mastoon in the 80’s with a short nose, then returned to its original long nose in the late 90’s. – The estimate range is not unrealistic for this 275 GTB, even with its [honestly explained] history of modifications and return to original appearance. It is a surprise it wasn’t bid higher.Lot # 51 1929 Duesenberg Model J Dual Cowl Phaeton, Body by LeBaron; S/N 2151; Engine # J-129; Dark Blue, Black fenders, Red sweep panel/Red leather; Dark Blue cloth top; Estimate $1,800,000 – $2,400,000; Concours restoration, 1 condition; With Reserve; Hammered Sold at $2,200,000 plus commission of 10.00%; Final Price $2,420,000 – Chrome wire wheels, wide whitewalls, dual sidemounts, outside exhaust headpipes, Black cloth covered luggage trunk, dual windshields, mesh hood side panels. – Original chassis, engine and bodywork, first owned by John Duval Dodge, son of John Dodge. Concours restored by Fran Roxas in 2010, Best in Show at Meadow Brook that year, 2nd in class at Pebble Beach, People’s Choice at Kansas City. Still show quality paint, chrome, interior, glass and top. – Sold here two years ago for $2,090,000, $110,000 less than the successful hammer bid today and showing just 44 more miles on the odometer than it did then. Taking out even a modest seller’s commission pushes the ROI into modestly negative territory and makes the 44 miles rather expensive. On the other hand, it shows the steady nature of the market for the highest quality classic era cars and based on the pre-sale estimate the seller was prepared to accept an even bigger loss.Lot # 52 1978 Porsche 911 Carrera Turbo Coupe; S/N 9308800186; Engine # 6880115; Mediterranean Blue/Blue leather; Estimate $130,000 – $160,000; Visually maintained, largely original, 3 condition; No Reserve; Hammered Sold at $107,500 plus commission of 10.00%; Final Price $118,250 – Black center Fuchs wheels, Michelin tires, cassette stereo, power sliding sunroof, air conditioning, power windows, power mirrors, sport seats, Porsche CofA. – Good clearcoat repaint, lightly worn original interior, clean unrestored chassis and underbody. A presentable but ordinary driver. – Porsche Turbos offered explosive performance for the period and their reputation has powered them to explosive heights in recent years. This isn’t nearly as expensive at Turbos were a few months ago and is among the prices brought by five of the other six sold in the Scottsdale auctions, excepting only a generous $264,000 sale at Barrett-Jackson. This would seem to be the new normal.Lot # 56 1983 Toyota FJ40 Land Cruiser Hardtop 4×4; S/N JT3FJ40C1D3360007; Sand/Grey leatherette; Estimate $100,000 – $125,000; Recent restoration, 2 condition; No Reserve; Hammered Sold at $55,000 plus commission of 10.00%; Final Price $60,500 – Canter facing rear seats, rear-mounted spare, Warn front hubs, Old Man Emu suspension, air conditioning, aftermarket stereo, cream steel wheels, 15 inch Yokohama tires. – Excellent paint, interior and chassis. Restored like new and impossible to fault. – Upgraded suspensions are the norm among restored FJ40s and they seem to incur no value penalty, nor advantage. Now plentiful at auction (there were 19 in Scottsdale) prices have settled in mid-5 figures for restored examples like this and less for more utilitarian examples, well off their recent fantastically generous peaks. With such quantity and diversity it has become something of a buyer’s market and prices reflect it.Lot # 59 1957 Mercedes-Benz 300SL Roadster; S/N 1980427500282; Engine # 1989807500289; Silver/Black; Estimate $900,000 – $1,100,000; Unrestored original, 4+ condition; With Reserve; Hammered Sold at $720,000 plus commission of 10.00%; Final Price $792,000 – Blaupunkt AM-FM-Multiband radio, hardtop only, Nardi woodrim steering wheel. – Barn car, California black-plate last stickered in ’92. Dull old repaint, bird poop stained, shrunken filler, dented right door. Complete but grungy underhood. – The attraction of grunge, so often seen at recent auctions, didn’t save this 300SL’s value from the recognition that it will be a long and expensive process before it can be driven. After restoration it will, in the present market, be solidly into low 7-figures, but it will take all the difference to realize that potential and the time that will elapse injects another not inconsiderable risk element. The result here is surprisingly realistic.
Gooding and Company Scottsdale 2016 – Auction Report Page Three
Lot # 60 1960 Mercedes-Benz 190SL Convertible; S/N ; Black, Ivory hardtop/Red leather; No top; Estimate $50,000 – $70,000; Unrestored original, 4 condition; No Reserve; Hammered Sold at $67,500 plus commission of 10.00%; Final Price $74,250 – Multiband radio, hardtop only. – Barn car. Bad old repaint, sound original upholstery. Bird poop stains on the hood and roof. Complete but scruffy underhood. Sound body. – The lady friend companion’s counterpart to the 300SL Roadster sold just before it, grunge brought a superior result for this 190SL and leaves the new owner with the difficult decision of deciding how much restoration is enough, without going all the way and ending up seriously underwater. 190SL values are off their recent peaks, which does not bode well for the buyer of this barn car.Lot # 101 1973 Porsche 911T Coupe; S/N 9113100333; Tangerine/Black leatherette; Estimate $90,000 – $110,000; Cosmetic restoration, 2 condition; With Reserve; Hammered Sold at $72,500 plus commission of 10.00%; Final Price $79,750 – Fuchs wheels, Pirelli tires, Bosch fuel injection, 5-speed, black painted front vents, Blaupunkt AM/FM radio. – Final year long hood 911. Excellent paint and interior. Restored underneath. Straightforward, fresh high quality 911 cosmetic restoration done in 2013 that mainly refreshed the cosmetics, but the car is very clean underneath as well. – This was strong money for a strong car, even if it was under Gooding’s low estimate, representative of the generalized performance of the boat load of 911s in the Scottsdale auctions this year.Lot # 105 1967 Sunbeam Tiger Mk IA Convertible; S/N B382002093LRXFE; Dark Blue/Black vinyl; Black vinyl top; Estimate $150,000 – $180,000; Cosmetic restoration, 2- condition; No Reserve; Hammered Sold at $135,000 plus commission of 10.00%; Final Price $148,500 – AM radio, steel wheels, hubcaps, trim rings, Michelin tires. – Excellent paint, chrome and interior. Underbody has old undercoat and hasn’t been done. Clean, orderly engine, represented as original to this chassis. – Sold by Worldwide in Auburn in 2012 for $58,000 in sound, preserved cosmetically maintained condition, then at Auctions America’s Auburn Fall two years later for $68,750. After a cosmetic restoration by Classic Showcase it sold for $137,500 at RM’s Amelia Island auction in 2015 and was bid to a reported $102,500 at Russo and Steele in Monterey last August. The seller should be entirely satisfied with its result here.Lot # 107 1969 Lotus Elan S4 Drophead Coupe; S/N 459764; Engine # G21402; Yellow/Black vinyl; Black top; Estimate $70,000 – $90,000; Recent restoration, 2+ condition; With Reserve; Hammered Sold at $50,000 plus commission of 10.00%; Final Price $55,000 – 1558/115hp, 4-speed, dual Stromberg carbs, alloy wheels, Vredestein Sprint tires, wood dash, leather-wrapped steering wheel, larger radiator and alternator, console. – Owned by the same person for 43 years, then restored during 2014-15, largely by Brian Buckland. The original chassis was reinforced in several spots as on the 26R race cars, then powder-coated. Gaps are perfect and better than new. Excellent interior. Fantastic new top. Very good paint. Like new but not overly detailed engine bay. Comes with all the receipts from four decades of ownership. Better than new and one of the best restored Elans out there. – It takes commitment to stand tall and keep raising the bidding paddle in order to own the very best. That’s what happened in this case. In the end the new owner got a car that can be realistically described as one of the best in the world, with legendary handling and near-supercar performance. It cost dearly, but what other way is there to spend this much (or maybe better, ‘this little’?) to get so much performance in such magnificent condition? [Aside from buying a pristine Mazda Miata, that is.] It is an expensive car, but every dollar is fully supported by condition, rarity, performance, handling and the Lotus legend.Lot # 112 1976 Ferrari 308 GTB Coupe (fiberglass), Body by Scaglietti; S/N 19681; Red/Tan, Black stripes; Estimate $300,000 – $350,000; Cosmetic restoration, 2- condition; With Reserve; Hammered Sold at $325,000 plus commission of 10.00%; Final Price $357,500 – Borletti air conditioning, Phillips cassette stereo. Ferrari Classiche certified. – Restored in Italy in 2014, sound repaint and lightly stretched upholstery. Repainted window frame trim. Old undercoat in the wheelwells starting to chip and peel. Clean orderly engine and compartment. Cosmetically restored to attractive standards. – The reasoning behind the price paid for this fiberglass 308 GTB is, apparently, that steel 308 GTBs are bringing $100,000 and vetroresina 308 GTBs are three times the value of a steel one. For that to compute, however, the concept of a $100K 308 GTB has to be accepted as, in this case, it seems to have been.Lot # 115 1966 Toyota FJ40 Land Cruiser Soft Top 4×4; S/N FJ4041897; Red/Black leatherette; Black leatherette top; Estimate $90,000 – $130,000; Older restoration, 2+ condition; No Reserve; Hammered Sold at $62,500 plus commission of 10.00%; Final Price $68,750 – Polished alloy Eagle wheels, 33×9.50R15 BFG tires, folding windshield, center-facing rear seats. – A 7,096 mile Land Cruiser freshly done to an impressive standard everywhere. Better than new underhood. Great paint and grey painted grille and bumpers. Meticulously detailed interior and engine compartment. – This Land Cruiser has 265 more miles on its odometer today than it did three years ago when RM sold it from the Don Davis collection for $88,000, one of the first record results for a meticulously restored FJ40. It’s still gorgeous and the fact it brought less money is less related to its presentation than it is to the ample supply of restored Land Cruisers coming to market. Supply seems to have met, and perhaps overwhelmed, demand.Lot # 116 1947 Ford Super Deluxe Sportsman Convertible; S/N 799A2011953; Dark Blue/Dark Red leather; Black cloth top; Estimate $250,000 – $300,000; Older restoration, 1 condition; With Reserve; Hammered Sold at $236,364 plus commission of 10.00%; Final Price $260,000 – Radio, heater, P/W, P/top, hubcaps, trim rings, wide whitewalls, dual remote spotlights, fog lights, grille guard. – Excellent paint, chrome, interior and glass. Wood is flawless and looks new. Car is better than new everywhere. One owner from 1951-2004 and impeccable. – Not as fresh as it was when it brought a curve-setting $302,100 at Mecum’s Monterey auction five years ago in 2011, but even with 1,251 more miles on the odometer it is still a concours quality ride.
Gooding and Company Scottsdale 2016 – Auction Report Page Four
Lot # 118 1962 Maserati 3500GT Vignale Spider, Body by Vignale; S/N AM1011385; Engine # AM10101725; Red/Natural leather; Black leatherette top; Estimate $525,000 – $575,000; Unrestored original, 4 condition; With Reserve; Hammered Sold at $430,000 plus commission of 10.00%; Final Price $473,000 – Later engine with Lucas FI, 5-speed, 4-wheel disc brakes, steel wheels, dash clock, Lucas driving lights. – Dirty, bumped, tired, neglected barn find. Dull, dirty paint, rusty chrome, stretched, stiff probably original upholstery. Filled, lumpy, rotting sills. Poor old repaint erratically masked. Filthy underhood. Not the original engine, nor the original exterior color. – Significantly discounted on account of its neglected condition and changed engine, but not enough to compensate for what it will cost to make it run and drive, let alone be presentable.Lot # 120 1990 Ferrari F40 Coupe; S/N ZFFMN34A2L0086554; Red/Red cloth; Estimate $1,300,000 – $1,600,000; Unrestored original, 2- condition; With Reserve; Hammered Sold at $1,395,000 plus commission of 10.00%; Final Price $1,534,500 – Air conditioning, fitted luggage. Assembly number 03459, U.S. specification, Ferrari Classiche certified. – 3,737 miles from new. Driver’s seat covering lightly stretched and frayed around the seat belt pocket. Engine shows some age but little use. Nearly like new in all respects. Tony Shooshani collection. – Growing in value relentlessly, as this result shows, along with other late model supercars. It almost seems that the younger the car the stronger its price.Lot # 121 1984 Ferrari 512 BBi Coupe; S/N ZFFJA098000051725; Metallic Grey, Black sills/Burgundy leather, Black piping; Estimate $400,000 – $475,000; Recent restoration, 2 condition; With Reserve; Hammered Sold at $400,000 plus commission of 10.00%; Final Price $440,000 – Air conditioning, Pioneer cassette stereo, equalizer, centerlock alloy wheels, Michelin TRX tires, tinted windows. – Good clearcoat repaint, well masked. Very good interior, dash and gauges. Odd lilac anodized grilles on the rear deck. Clean underbody. Manual and glove box signed by the first owner, AJ Foyt, who couldn’t find the door release the first time he drove it and had to squeeze out the window. Tony Shooshani collection. – The combination of excellent condition, moderate miles, desirable colors and racing celebrity ownership make this an especially desirable 512 BBi and more than support the price that it brought, particularly when much more common Testarossas are being offered for more than half as much.Lot # 122 2003 Ferrari Enzo Coupe; S/N ZFFCW56AX30132049; Red/Red leather; Estimate $2,400,000 – $2,800,000; Unrestored original, 2 condition; With Reserve; Hammered Sold at $2,600,000 plus commission of 10.00%; Final Price $2,860,000 – U.S. spec. Ferrari Classiche certified – Chipguarded nose, fogged headlight covers, otherwise like new with 2,700 miles. Tony Shooshani collection. – The F40-F50-Enzo market is one of the strongest current segments, with prices seemingly going up regularly, if not in the speculative tornado of late 80’s Ferrari prices. Enzos have been boosted by last August’s sale of the Papal Enzo for a staggering $6,050,000 which has become a halo value protecting ever more exuberant prices for cars not touched by a successor to St. Peter.Lot # 123 1988 Ferrari 328 GTS Spider; S/N ZFFXA20A1J0074921; Red, Black roof panel/Ivory leather; Estimate $125,000 – $150,000; Unrestored original, 2- condition; No Reserve; Hammered Sold at $100,000 plus commission of 10.00%; Final Price $110,000 – Air conditioning, Alpine CD stereo, U.S. specs. – 14,997 miles, original and in showroom condition except for a dusty underbody and slight wear on the driver’s seatback. Tony Shooshani collection. – A particularly reassuring and satisfying 328 GTS with low miles, attributes which encouraged the Fashion Square bidders to pay all the money and then some for it although still less than Gooding got earlier this week for a 328 GTB.Lot # 124 1960 Ferrari 250 GT Cabriolet SII, Body by Pinin Farina; S/N 1939GT; Engine # 1939GT; Dark Blue, Dark Blue hardtop/Cream leather; Black cloth top; Estimate $2,000,000 – $2,300,000; Recent restoration, 2- condition; With Reserve; Not sold at Hammer bid of $1,650,000 – Chrome spoke Borrani wire wheels, Michelin X tires, two tops, heater, no radio, Marchal head and fog lights. Internal engine number 328F. – Very good, paint, chrome, interior and glass. Fresh, spotless engine compartment.Hood doesn’t close flush and doors could have been blocked flatter. Evidence of use is confined to the wheelwells and inside some of the bracketry that is hard to reach. Tony Shooshani collection. – Sold by RM in Monterey in 2013 for $1,292,500 in essentially the same condition as it was offered here having added only 105 km to its odometer since then. The beginning of 2016 is probably not an auspicious time to be holding out for the last Hundred Large or so. The reported bid is in line with the two other Series II Cabs offered in Scottsdale and it could have sold with little if any second thoughts by the seller.Lot # 125 1969 Ferrari 206 GT Dino Coupe, Body by Scaglietti; S/N 00378; Red/Black vinyl, cloth; Estimate $700,000 – $800,000; Visually maintained, largely original, 3 condition; With Reserve; Not sold at Hammer bid of $600,000 – Grey painted Cromodora centerlock alloy wheels, Michelin tires. – Decent older repaint and chrome. Aged, musty smelling original interior. Aged engine and underbody. A tired and neglected but pretty car that makes a good first impression. Tony Shooshani collection. – Sold by Gooding at Amelia Island in March 2014 for $638,000, a price that was eye-opening at the time and hard to replicate just two years later. Waiting for the market to catch up is hazardous, especially as the values of more mundane 246 GT Dinos are no longer striding upwards in giant leaps.
Gooding and Company Scottsdale 2016 – Auction Report Page Five
Lot # 126 1995 Ferrari F50 Barchetta, Body by Pininfarina; S/N ZFFTA46B000099999; Red/Black leather, Red cloth; Estimate $2,500,000 – $2,900,000; Unrestored original, 2- condition; With Reserve; Hammered Sold at $2,181,818 plus commission of 10.00%; Final Price $2,400,000 – The 1995 Geneva Show car introducing the F50, previously possibly used by Ferrari in development, Ferrari Classiche certified and the last 5-digit Ferrari built – Extensively shown by Ferrari after Geneva including the 1995 Tokyo Motor Show. First owned by Jacques Swaters’s Garage Francorchamps. U.S. federalized for David Walters in 2007. Worn and lightly soiled driver’s seat. Good original paint. Dusty engine. Tony Shooshani collection. – The history of the F50’s market in one car: sold by RM in Arizona in 2011 for $742,500, then by RM in Monterey in 2013 for $1,677,500 and a post-block sale here at $2.4 million all-in. One wonders when the wave might develop a curl but until then this is an appropriate F50 price.Lot # 127 1964 Ferrari 250 GT/L Lusso Coupe, Body by Scaglietti; S/N 5537GT; Dark Metallic Blue/Tan leather; Estimate $2,200,000 – $2,500,000; Recent restoration, 2- condition; With Reserve; Not sold at Hammer bid of $1,850,000 – Chrome spoke Borrani wire wheels, Marchal head and fog lights. – Very good paint, chrome, interior and glass. Restored to nearly showroom condition with a few details like painting over old, chipped paint on the firewall and footwell overlooked. Tony Shooshani collection. – Sold by RM in Monterey in 2013 for $1,386,000 and worth more today in a Ferrari market that seriously covets the beautiful and comfortable Lusso.Lot # 129 1965 Alfa Romeo Giulia Sprint GTA Stradale Coupe, Body by Bertone; S/N AR613115; White, Red stripe and sills/Charcoal vinyl; Estimate $475,000 – $550,000; Recent restoration, 2- condition; With Reserve; Hammered Sold at $400,000 plus commission of 10.00%; Final Price $440,000 – Campagnolo alloy wheels, Hellebore woodrim steering wheel, Avon tires, Simpson belts. – Originally prepared by Autodelta but no race history known there. Sold to Herbert Schultze in Germany, then raced by Wolfgang Thiele driving for Ulrich Schleifer in Germany and later Peter Herke in U.S. vintage events. Very good paint, interior and bright trim. Orderly dual ignition engine with Spanish Webers. Freshly done to journeyman standards. – The combination of period history and a competent restoration bodes well for the value of this GTA and amply supports the price it brought. Prove some early Autodelta history, though, and its value could increase substantially.Lot # 134 1984 Renault R5 Turbo 2 Hatchback; S/N VF1822000E0001270; Grenade Red/Red cloth; Estimate $90,000 – $110,000; Visually maintained, largely original, 3 condition; With Reserve; Hammered Sold at $60,000 plus commission of 10.00%; Final Price $66,000 – Alloy wheels, Dunlop SP Sport tires on the rear, Yokohamas up front, aftermarket Sparco bucket seats, Iso-Delta leather-wrapped steering wheel, AutoMeter boost gauge, power windows, air conditioning, tinted glass, aftermarket cassette stereo with speakers cut into the doors. – Rare US market car from new. Numerous small chips and scratches throughout the paint. Rushed respray on the front lip. Paint flaking off of the mirrors. Fairly worn carpets. Rear intake vents have have been hit by a kicked up stone or two. A little beat up but tidy underneath. The aftermarket speakers were somewhat crudely installed. Always a maintained driver rather than a collector piece, and that’s how it should probably stay. – After producing an initial batch of 400 homologation cars for the World Rally Championship, Renault introduced the R5 Turbo II, which did away with the alloy components of the first cars and made more use of stock Renault 5 parts. R5 Turbos are more valuable, with Mecum selling one in Monterey in 2014 for $143,000 and Bonhams selling another in Goodwood last year for $88,000. The less powerful Turbo II is a bargain in comparison and offers a lot of exclusivity for the money, along with the explosive performance that’s appropriate for a car painted in a color called Grenade Red.Lot # 135 1966 Ferrari 330 GT SII Coupe 2+2, Body by Pininfarina; S/N 8325; Engine # 8325; Dark Blue/Light Grey leather; Estimate $375,000 – $425,000; Visually maintained, largely original, 3 condition; With Reserve; Hammered Sold at $265,000 plus commission of 10.00%; Final Price $291,500 – Chrome spoke Borranis, Pirelli Cinturato tires, Becker Europa II AM-FM, power windows. – Sound older repaint, chrome and replaced interior. Oily dusty engine compartment, unrestored grimy chassis and underbody. A used driver quality 330. – Sold at Barrett-Jackson in 2001 for $53,460 in condition not appreciably different from the way it was offered here. If anyone had told me a 330 GT 2+2 would bring over a quarter million dollars fifteen years ago I’d have called them crazy, and they may be. Today this is a rather modest price for one, appropriate to its erratic, superficial and aged condition.Lot # 137 1955 Bentley R-Type Continental 4.9L Fastback, Body by H.J. Mulliner; S/N BC67LD; Engine # BCD66; Black/Dark Red leather; Estimate $1,300,000 – $1,600,000; Visually maintained, largely original, 3 condition; With Reserve; Hammered Sold at $925,000 plus commission of 10.00%; Final Price $1,017,500 LHD. – 4887/178hp, column-shift automatic, wheel covers, Dunlop Road Speed tires, skirts, Lucas driving lights, single wing mirror, bucket seats, radio, wood dash and window trim. – Built to order with the automatic gearbox for a prominent Bentley customer who lived in Monaco, one of only about nine lefthand drive Continentals with automatic gearboxes. His name was J. Guinness, (Lord Moyne?) suggesting a stout connection. Lightly scratched up radiator shell. Big dings in the left front wheel cover. Paint is a bit tired overall and has light scratches around the hood and on the driver’s side door. Original upholstery is tired and discolored but still supple to the touch and complete. Crack in the steering wheel. Clean engine bay and undercarriage. Very good interior wood. Largely original and showing just 27,865 km. – The odometer reading is just 47 km more than this car showed eight months ago when RM sold it from the Andrews collection for $1,127,500. One of the most imposing automobiles ever built, a deft combination of svelte, sleek coachwork, lavish appointments and excellent performance that has rarely if ever been equaled. It is in no significant sense worth less than it was eight months ago, but multiple owner consignment sales’ results rarely duplicate the results from a properly promoted single owner collection and today’s transaction belongs in the ‘a good buy’ category.Lot # 139 1975 Ferrari 365 GT4 BB Coupe, Body by Scaglietti; S/N 18419; Red, Black sills/Tan leather Black bars; Estimate $500,000 – $600,000; Visually maintained, largely original, 3+ condition; With Reserve; Hammered Sold at $450,000 plus commission of 10.00%; Final Price $495,000 – Centerlock-alloy wheels, Michelin XWX tires, 8-track stereo, Borletti air conditioning, power windows. – Sound old repaint. Window frames repainted but runs over to the rubber window seals. Clean original undercoat in the wheelwells. Worn, stretched original upholstery, good newer carpets. – This 365 GT4 BB sold for $220,000 at RM’s Amelia Island auction in 2011 and the odometer has added only 269 more miles since then. It was expensive for its condition at the time but at a little over twice as much five years later it still represents a substantial Ferrari performance value despite the poorly detailed paint and aged upholstery. Seek thy good values where they can be found, which isn’t often among 12-cylinder Ferraris.
Gooding and Company Scottsdale 2016 – Auction Report Page Six
Lot # 141 1997 Porsche 911 Turbo Coupe; S/N WP0AC2993VS375501; Fly Yellow/Black; Estimate $275,000 – $325,000; Unrestored original, 2 condition; With Reserve; Hammered Sold at $220,000 plus commission of 10.00%; Final Price $242,000 – Cross-drilled rotors, Michelin Pilot Sport tires, sunroof, spoiler, rear wiper, factory CD stereo, power windows, air conditioning. – Very good custom-order paint. Seats look barely sat in. Just about like new, despite the 29,688 miles on the odometer. Recently received a 30,000-mile service that included new belts and tires. A babied 911 Turbo, carefully driven and kept clean in between trips. – Sold by Mecum in Monterey in 2013 for $114,490. Since then, the car’s done less than 600 miles and essentially doubled in value. Looking at cars as an investment isn’t generally a good idea, but just about anybody who bought an air-cooled 911 a few years ago and sold it in 2015-16 saw a handsome return, extremely handsome in the case of this 993 Turbo, but calling into question how long it can be expected to show such growth.Lot # 143 1931 Bugatti Type 49 Grand Sport Roadster, Body by A.P. Compton & Co.; S/N 49119; Dark Blue/Brown leather; Beige cloth top; Estimate $550,000 – $750,000; Visually maintained, largely original, 3 condition; With Reserve; Hammered Sold at $875,000 plus commission of 10.00%; Final Price $962,500 – RHD. 3,257cc/85hp inline eight, 4-speed, body color wire wheels, Dunlop tires, single sidemount, wind wings, cycle fenders, Scintilla headlights. – Retained by its first owner, Alfred Dugdale, from new until 1973, with a single subsequent U.S. owner since. Original chassis, coachwork and engine and by all accounts the 61,255 miles are all it has covered from new. Sound repaint, original interior with recovered seat cushions and replaced carpets. Aged but orderly engine and chassis. Thin bright trim. – None of which matters in the least when considering the history, provenance and quality of the Bugatti in which everything else is subservient to its preservation by just two enthusiastic owners from new and its outstandingly well preserved condition. Grunge may count for something, some times, but that is fleeting fancy when put next to a cherished and preserved Bugatti of quality and refinement. Only six cars at Gooding’s Scottsdale auction brought hammer bids over their high estimate, company in which the Bugatti proudly belongs. (photo: Gooding & Co.)Lot # 145 1967 Ferrari 330 GTC Coupe Speciale, Body by Pininfarina; S/N 10107; Engine # 10107; Black/Black leather; Estimate $3,400,000 – $4,000,000; Older restoration, 3+ condition; With Reserve; Hammered Sold at $3,100,000 plus commission of 10.00%; Final Price $3,410,000 – Chrome spoke Borranis, Michelin XWX tires, Becker cassette stereo. – One of four 330 GTCs bodied by Pininfarina in similar Speciale coachwork with covered headlights, clean front fender flanks and concave rear window. First owned by Maria Maddalena Da Lisca, wife of pasta magnate Pietro Barilla. Restored for Paul Forbes in the late 80’s. Sound but scratched old paint cracked behind the left rear and right front wheels. Orderly but aged underbody and chassis. Clean, very orderly engine compartment. A very well restored and maintained older restoration but definitely showing its age. – Sold by Sotheby’s at Zurich in 1993, probably to the present owner, for $157,049 and tucked away largely out of sight since then. The result here is roughly five times the value of a ‘standard’ 330 GTC in comparable condition but it also is many times more exclusive and rare. The result here may not adequately account for the aged restoration and failing paint, but the Ferrari is still more than good enough to be driven and shown as it is. A nearly singular object of special beauty, it is impossible to argue with the bidders’ determination of its value.Lot # 147 1969 Chevrolet Corvette L88 Coupe; S/N 194379S728007; Engine # T0609L019S728007; Black/Black vinyl; Estimate $700,000 – $800,000; Older restoration, 2- condition; With Reserve; Not sold at Hammer bid of $625,000 – 427/430hp L88, 4-speed, open chamber heads, radio delete, J56 brakes, F41 suspension, 4.56 Positraction, Rally wheels with hubcaps and trim rings, Wide Oval tires, tee tops. – Delaminating windshield with rust around the frame. Good older paint, chrome and interior. Orderly engine compartment with some dust and age. Clean underbody. One of 116 L88s built in 1969, the last year the option was available. Restored by the Nabers brothers in the early 00’s. Bloomington Gold certified, NCRS Top Flight. – This car has a non-history at auction, with reported high bids of $86,000 at Barrett-Jackson in 1992 while still freighted with the non-stock modifications, then $850,000 at Mecum Austin in 2014 and $700,000 at Mecum Monterey last August. Its market non-history continues here in Scottsdale. A few more bites of the apple may finally find it reaching the core and a bid appropriate to its history.Lot # 148 1961 Porsche 356B 1600 Super Roadster; S/N 88316; Engine # 87462; Dark Grey/Red leather; Black cloth top; Estimate $175,000 – $225,000; Older restoration, 3+ condition; No Reserve; Hammered Sold at $145,000 plus commission of 10.00%; Final Price $159,500 – Chrome wheels, Michelin XZX tires. – Replacement engine of the correct type, 4 1/2 inch wide aftermarket wheels. Fair older repaint and interior. A sound older restoration to good driving condition showing age and miles. Old undercoat in the wheelwells. Luggage compartment is old, scuffed and has no floor liner. – If this result is any measure the Porsche mania has translated from 911s to 356Bs. It’s a replacement engine, a shortcoming not borne lightly by Porschephiles, and the result is appropriate to an original-engined example.Lot # 151 1972 Ferrari 365 GTC/4 Coupe, Body by Pininfarina; S/N 15365; Engine # C722; Dark Red/Tan leather; Estimate $350,000 – $400,000; Visually maintained, largely original, 3+ condition; With Reserve; Not sold at Hammer bid of $265,000 – 5-speed, power windows, air conditioning, Becker Mexico cassette stereo, chrome spoke Borrani wire wheels, Avon tires. – Good clearcoat repaint, chrome and creased, surface cracked original interior. Orange peely door window frames. Old, peeling undercoating in the wheelwells. The engine compartment has had some attention to the top but little or none to the bottom. A decent cosmetic redo to driver condition. – C/4s used to be given a ‘lick and a promise’ to dress them up for auction, but that was when they were underappreciated $100,000 Ferraris. Now that they’re a third of a million (or more) and getting mega-bucks restorations bidders expect more. In that regard this C/4 disappointed and goes a long way to explaining why it fell short of its optimistic consignor’s expectations. The bid is more appropriate to its condition than the estimate range.Lot # 153 2004 Ferrari 360 Challenge Stradale Coupe; S/N ZFFDU57A340139046; Black, White stripe/Red Alcantara; Estimate $275,000 – $325,000; Unrestored original, 2- condition; With Reserve; Hammered Sold at $265,000 plus commission of 10.00%; Final Price $291,500 – Yellow calipers, SF shields, CD stereo, carbon brakes, 19-inch Challenge wheels, luggage. – Good original paint and interior. Clean engine compartment showing little evidence of use, stated to be under 3,100 miles from new. – Desirable, low mileage, carefully preserved but for all of that an expensive indulgence.Lot # 155 1962 Shelby Cobra 260 Roadster; S/N CSX2023; Silver/Black leather; Estimate $800,000 – $950,000; Recent restoration, 2 condition; With Reserve; Hammered Sold at $680,000 plus commission of 10.00%; Final Price $748,000 – Upgraded to 289/271hp, chrome wire wheels, narrow whitewalls, tinted sun visors, grille and trunk guards. wind wings. – Finished its second restoration in 2013, correcting any number of modifications including big hip flares that it had acquired in prior years. Excellent paint, chrome and lightly stretched upholstery. Freshly restored to like new condition. – Sold by Auctions America at Ft. Lauderdale in 2013 with wide hips, flared fenders and wide Torque Thrust alloy wheels for $533,500, then a year later at the same venue for $825,000 with the excrescences removed, but still with its replacement 289 engine. A 289 was what you did with a Cobra in the Sixties and while it may not get points from SAAC, it is how it worked. The result here more than adequately compromises the value for the replacement engine and represents a quality early Cobra at a realistic discount from one of the rare, surviving pure one.
Another superb assessment. As for the Bentley and J. Guinness, the first Lord Moyne was Bryan and No. 2 was Desmond. But half the rich of Britain and Ireland are related to the Guinnesses.