Gooding & Company, Omni Amelia Island Plantation, Amelia Island, Florida, March 7, 2014
Bitter cold didn’t do much to deter the bidders at this year’s Gooding & Company Amelia Island auction although it kept the line long at the Chubb Insurance latte stand.
In addition to some superior Porsches and the beautifully original, preserved and maintained Ferrari 250 Europa GT s/n 0409GT this year’s Gooding Amelia auction presented a cross-section of postwar BMWs, from an Isetta to a 507 roadster that tested the depth of the BMW collector car market.
While the total sale was slightly up from 2012, the mean and median transaction values declined, reflecting the character of the consignment. BMWs just don’t sell like the Drendel family collection of Porsches in 2012, a hard act to follow.
Also surprising was the weakness displayed by prewar cars. David Gooding has probably done more to promote prewar, and particularly early brass and nickel era cars and antiques, than anyone else in car collecting, but here in Amelia a selection of well known and very attractive cars came up unusually short. Those that sold did so at modest prices (except for the Rolls-Royce PII Henley Roadster.) Of 13 prewar cars offered eight were sold, a 61.5% sale rate that pulled the overall sell-through down significantly.
Gooding Amelia Island
Cars Offered / Sold
Sold < Low Est
Sold > High Est
88 / 78
72 / 69
77 / 70
85 / 70
71 / 58
Cars at the top of the market, or those that seem to be in collectors’ headlights these days like the Lancia Aurelia B24S Spider America, unrestored 300SL Roadster, Dinos and BMW 507, did well. But the Porsche RSK sold for only rounding error more than it had brought a year and a few months ago at Gooding’s Scottsdale auction in 2013.
Still, when all was said and done $31 million in sales in a single day is indicative of the enthusiasm of collectors and the abundant liquidity they still bring to the collector car market, even if some of it goes to chasing fads.
Gooding and Company Amelia Island 2014 – Auction Report