Gooding Pebble Beach 2013 – Auction Report

Gooding and Company Pebble Beach 2013 – Auction Report Page Six

1967 Volkswagen Type 2 Deluxe Microbus 21-Window
Lot # 113 1967 Volkswagen Type 2 Deluxe Microbus 21-Window; S/N 247019627; Engine # H3532505; Blue, Cumulus White/Aero Papyrus; Estimate $70,000 – $90,000; Older restoration, 2+ condition; Hammered Sold at $115,000 plus commission of 10.00%; Final Price $126,500. No Reserve – Roof rack, safari windows, long sunroof, whitewalls, radio, painted bumpers with overriders, three row seating – 500 miles on extraordinarily detailed early 90’s restoration. Specifications recently examined by Siftung museum in Germany and confirmed to be exactly correct. Excellent paint in great colors, very straight body, great interior, A broken side access door handle is about the extent of the critiques on this gorgeous Microbus. – Let’s put $126,500 in a different context: it’s one-eighth of a million dollars. For a VW bus? Even a beautifully restored VW bus? The Hagerty Price Guide puts the value of a p-e-r-f-e-c-t 21-window Microbus at $67,500, $40K less than this hot rod. This is not expensive, it is ridiculous (but in that category it joins many 2013 Pebble Beach transactions; what’s going on?) $126,500 buys just about any new Mercedes-Benz, including an AMG G63 AMG at $134,300 MSRP with 536 bhp, almost exactly 10x the power of the 53hp Type 2 (and lower emissions, so there, California). There are no airbags on the VW, either. ‘Cute’ is cute, but silly is silly. This result is beyond silly, it’s bizarre and out of contact with reality.
1948 Alfa Romeo 6C 2500 Competizione Coupe
Lot # 114 1948 Alfa Romeo 6C 2500 Competizione Coupe; S/N 920002; Engine # 921002; Dark Red/Dark Red leather, Beige cord; Estimate $2,800,000 – $3,500,000; Competition restoration, 2+ condition; Hammered Sold at $4,400,000 plus commission of 10.00%; Final Price $4,840,000. – RHD. Silver painted wire wheels, Engelbert 17 inch tires, trafficators, 5-speed (original 4-speed included) – Alfa Corse bodied and sold to Franco Rol, dnf in the 1948 Mille Miglia driven by Rol and Alessandro Gaboardi, 1st in class in the Coppa delle Dolomiti, 2nd overall in the 1949 Targa Florio, 3rd overall in the 1949 Mille Miglia and more. Later owned for many years by Michel Dovaz (the ‘Sleeping Beauties’) and finally bought from him in 1995. Restored in the early 90’s and 2nd in class at Pebble Beach in 2005. Restored to like new condition with better paint. Thoroughly documented from new. The essence of postwar Alfa Romeo competition, and beautifully bodied, too. – It would cost two or three times this price for a Ferrari with one or two similar competition results. None of them (not because they couldn’t, but because Ferrari kept creating new models for specific races) match this Alfa’s record of participation and success in the great early post-WWII races. An entrant that will be denied for the Mille Miglia only because its owner has defecated on one of the panel, this is a sublime car, and not just because it’s an Alfa. It’s fast, it’s cool, it’s beautiful and its history is beyond exceptional. There are quibbles with over-estimate results at Gooding’s Pebble Beach Auction (see the VW Microbus), but there is no quibble with the 25% over-estimate result for this singular Alfa Romeo 6C 2500 Competizione Coupe.
1914 Packard 1-38 Phaeton
Lot # 115 1914 Packard 1-38 Phaeton; S/N 39441; Engine # 39441; Olive Green, Black fenders/Black leather; Black leatherette top; Estimate $400,000 – $550,000; Older restoration, 2+ condition; Hammered Sold at $425,000 plus commission of 10.00%; Final Price $467,500. – Artillery-style wheels, first year for electric start, left-hand drive, blackwall tires, dual left-side mounted spares – An excellent highly original car that was rebuilt from the ground up by experts to superior condition mechanically and aesthetically. Class 2nd place at Pebble Beach in 2010. Enormous, very modern for its time and hard to fault in paint, plating or interior. Simply superb. – Sold by Christie’s here in 2000 for $171,000, subsequently extensively mechanically serviced but the cosmetics date back to Clyde Wade’s restoration for Matt and Barbara Browning in the late 90’s and are impossible to fault. One of only nine survivors, and likely the best one. Pebble Beach has changed. In the late 90’s and even early 00’s we would pile into an old crock like this and chug down to the Inn at Spanish Bay to hang out. No more. It’s too fraught with ‘risk’ that nannies can’t accept, and more’s the pity. The Tour d’Elegance is scant substitute. That aside, this is a great automobile, done to the highest standards by guys who know what they’re doing and surviving in excellent condition even with some touring use. It deserves every dollar that it brought from the Pebble Beach bidders.
1959 Ferrari 400 Superamerica Coupe Speciale
Lot # 116 1959 Ferrari 400 Superamerica Coupe Speciale, Body by Pinin Farina; S/N 1517SA; Silver-Grey, Brushed aluminum lower body/Black leather; Estimate $3,750,000 – $4,500,000; Older restoration, 2- condition; Not sold at Hammer bid of $3,400,000. – Chrome spoke Borranis, moon roof with brushed aluminum telescoping sun shield, two rally timers and an elaborate Jaeger chronometer, one-off coachwork built for Gianni Agnelli on the first 400SA chassis, featured at the 1959 Turin Motor Show and 1960 Geneva show, Ferrari Classiche certified, tool roll, build sheet copies – Excellent paint, chrome and interior except for some thin window trim chrome. Underbody is like new. Maserati-like nose, quad headlights, notchback roofline and wraparound windshield, but if you are Gianni Agnelli even Pinin Farina will do what you ask. – Legend suggests Agnelli asked for a car that wouldn’t look like a Ferrari. He got it, but it looks like a Frua Maserati. An important, especially fast, luxurious and specially equipped automobile, its appearance is distinctive and immediately recognizable as something special. It is somewhat surprising that it didn’t bring enough to separate it from its owner.
1934 Alvis Speed 20 SB Tourer
Lot # 118 1934 Alvis Speed 20 SB Tourer, Body by Cross & Ellis; S/N 11337; Engine # 11787; Black/Yellow; Black top; Estimate $150,000 – $225,000; Recent restoration, 2 condition; Hammered Sold at $155,000 plus commission of 10.00%; Final Price $170,500. No Reserve – Synchromesh transmission, wire wheels, dual side-mounted spares, tonneau cover, folding windshield, driving lights – Known history from new, in the US since 1961 and vintage raced in the 1970s. Fully rebuilt and restored in 2006 by experts in New Zealand. Paint, plating and engine compartment are excellent but the ill-advised interior change from green to loud yellow leather detracts from the presentation. A handsome and very sound example that begs for a redo on the interior. – Probably less appreciated in the US than overseas, particularly in other English-speaking regions, but this Alvis is a thoroughbred with near 100 mph performance. The price it brought is fair to both the buyer and the seller, and leaves some room for the new owner to install new hides in a less garish color.
1966 AAR Gurney-Weslake Eagle Mk 1 Grand Prix
Lot # 119 1966 AAR Gurney-Weslake Eagle Mk 1 Grand Prix; S/N AAR-102; Engine # AAR12-1-04; Dark Blue, White stripe/Black Duct Tape; Competition restoration, 2 condition; Hammered Sold at $3,400,000 plus commission of 10.00%; Final Price $3,740,000. – Polished six-spoke wheels, chrome rollbar, exhaust and suspension arms, comprehensive authentication and documentation – The first Eagle to race with the Gurney-Weslake 3-liter 400hp V-12 at the 1966 Italian GP, winner at the Brands Hatch International Race of Champions in 1967. Later sold to Scuderia Filipinetti with Climax power and stored until 1983. Bought by the Collier Collection in 1989 and restored with a correct Gurney-Weslake engine. Subsequently vintage raced, engine freshly rebuilt and race-ready. Cosmetics are flawless and the level of preparation is to Indy and F1 standards. – ‘Historic’ barely begins to describe this Eagle and its presentation could serve as an instruction manual on how to do it right. It represents a charismatic era in Formula 1 and an even more charismatic team and is a sound value at this price.
1971 Ferrari 365 GTB/4 Daytona NART Spider
Lot # 120 1971 Ferrari 365 GTB/4 Daytona NART Spider, Body by Michelotti; S/N 14299; Metallic Blue, Grey/Cognac leather; Blue cloth top; Estimate $700,000 – $1,000,000; Older restoration, 2- condition; Hammered Sold at $654,545 plus commission of 10.00%; Final Price $720,000. – Chrome spoke polished rim Borrani wire wheels, Michelin XWX tires, Alpine CD stereo, brown leather rim Momo steering wheel, A/C, two tops, tools, 1980 Turin show car, Ferrari Classiche attested – An expensive exercise that resulted in making a Daytona look like a Corvette, commissioned in 1976 by Luigi Chinetti for his wife Marion. Restored to like new with excellent paint and very good lightly worn and creased interior. – It’s easy to be conflicted by the coachwork on this Ferrari one-off. Its lines suggest a C4 Corvette, but they are intrinsically sleek and aerodynamic. The wide grille below the front bumper foreshadows the frontal treatment of recent front-engined Ferraris. The angular rear deck and fenders could have come right off a Pontiac Fiero. So, an open Daytona with one-off coachwork and Chinetti family history at a post-block transaction price just under 3/4 million dollars. Not a bad thing.
1968 Porsche 911L Coupe
Lot # 122 1968 Porsche 911L Coupe; S/N 11810486; Engine # 3880009; Tangerine/Black vinyl, cloth; Estimate $300,000 – $400,000; Recent restoration, 2+ condition; Hammered Sold at $530,000 plus commission of 10.00%; Final Price $583,000. – Fuchs wheels, 5.00×15 Goodyear Blue Streak treaded tires, 911R low back bucket seats, dual Talbot outside mirrors, braced rollbar, outside electric shutoff – Believed to be one of as few as 28 Lightweight 911s built with 210hp engines. Equipped with the L Sport package. Sold new to John Kelly and used as a street car, then vintage race prepared for his wife, Susann Miller. Restored like new with better paint. Original engine now 2.5 liters and over 210hp. – To say this is a very rare Porsche is an understatement. Some of its original character combining the R’s engine with the L luxury equipment has been lost by the vintage race preparation, but none of that seems to have had any effect on the eagerness of the Pebble Beach Auction bidders to make it their own and this is a fairly breathtaking price, especially for a 911 with no early racing history of any significance.
1937 Bugatti Type 57SC Atalante Coupe
Lot # 123 1937 Bugatti Type 57SC Atalante Coupe; S/N 57523; Engine # 23S; Black/Tan pigskin; Concours restoration, 1- condition; Hammered Sold at $7,950,000 plus commission of 10.00%; Final Price $8,745,000. – RHD. Original body and engine, Scintilla headlights, Marchal auxiliary lights, two-piece front bumper, rear fender skirts, wire wheels with painted discs. Returned to factory early on for supercharger fitment, with “C” noted in factory records by this number – Full history from new, including Jan de Dobbeleer ownership, sold to US in 1959, in Blackhawk Collection in 1993, repainted black and red. Consignor bought the car in 2005, full restoration shortly thereafter by Bob Mosier. Reinstalled the original engine. 2009 Pebble Beach class and French Cup winner. Restored, refreshed and newly repainted in its original black by Scott Sargent. Welcomed worldwide. – The only thing better than this Type 57SC Atalante in a road-going Bugatti is an Atlantic. Serially maintained and restored by some of the best in the business, this is a splendid example of the best of Ettore and Jean Bugatti and it deserves every sou of the splendid price it brought.
1958 Maserati 3500 GT Spider
Lot # 125 1958 Maserati 3500 GT Spider, Body by Touring; S/N 101124; Engine # 101124; Dark Red/White leather; Black top; Estimate $1,000,000 – $1,250,000; Recent restoration, 2 condition; Hammered Sold at $1,300,000 plus commission of 10.00%; Final Price $1,430,000. – Borrani wire wheels, ZF 5-speed transmission, Weber carbs, Girling drum brakes, Autovox radio, tools, complete documentation – The second of three 3500 GT Spiders built in 1958 and the only known survivor, bought new by American millionaire and Maserati patron Temple Buell Jr., later owned by World Heavyweight Champion Joe Louis and re-powered for his wife with a Chrysler Hemi and Torqueflite automatic. Complete provenance, ground-up restoration in 2002 that reunited it with its original engine for John Bookout. 2011 Best in Class at Concours on the Avenue, then Best in Class and Best Maserati at Concorso Italiano. Excellent paint, brilliant brightwork, lovely interior appears as new. – The only known survivor of the three 1958 Spiders, a perfect combination of a rare, handsome model, celebrity ownership, convoluted history eventually sorted out, and a superb restoration. The result is as it should have been, a record price.
1949 Jaguar XK 120 Alloy Roadster
Lot # 126 1949 Jaguar XK 120 Alloy Roadster; S/N 670005; Engine # W10118; Blue Sheen/Blue, Dark Blue leather; Dark Blue cloth top; Estimate $350,000 – $550,000; Concours restoration, 1- condition; Hammered Sold at $410,000 plus commission of 10.00%; Final Price $451,000. – Steel wheels, hubcaps, bias ply blackwall tires, spats, spares, tool roll, date-coded jack, extensive documentation – Matching numbers, one of first XK 120 alloy roadsters delivered to Max Hoffman, displayed at the 1949 Watkins Glen races. Many early production details. Meticulously documented restoration between 2005-2008, repainted the correct original color. 100 points in JCNA concours since completion, set record times in the Class B slaloms. Complete ownership trail, but now showing use and age. Exterior paint, chrome and upholstery are still very good but show some use. Disparaged at the preview by an Aussie anorak who proceeded to pick apart the shape of the panels and the bumpers, maintaining that during restoration the car should have been made as it could have been, not as it was actually built. – One of the most important XK120s, according to historians Paul Skilleter and Philip Porter. Bought at Gooding’s 2011 Amelia sale for a modest $385,000, the $66,000 more it sold for here is nothing if not fully deserved, even with 225 more miles on the odometer and some weakness showing up in the restoration. The anorak’s view of restoration reflects an increasingly marginal outlook, fortunately.

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  1. “This result is beyond silly, it’s bizarre and out of contact with reality.”
    The reality is that the wealthy expect runaway inflation, and are wisely getting green money out of their portfolio. The manner in which they’re doing it doesn’t seem wise, but it will down the road.

  2. David,
    [David’s comment refers to the $126,500 VW Type 2 21-Window Microbus.]
    There is a certain logic to your observation, although I should have reserved the comment for RM’s Alfa 1750 Spider, at $121,000 even further detached from reality than the bus.
    My trouble with your rationale is that spending money foolishly is not a hedge against inflation. It is spending money without regard to how it might otherwise be employed. Either of these two vehicles could have been bought for much less than the high bid. A rational economic person does not throw $50 or $60 thousand away just in order to acquire a hard asset that could be acquired for much less. This is not ‘wisely getting green money out of their portfolio.’ It is replacing a asset that may depreciate by some unacceptable but as yet uncertain rate (‘green money’) with a hard asset that is already instantly depreciated by 30-60% by over-paying for it.
    That isn’t a hedge against inflation.