Gooding Pebble Beach 2013 – Auction Report

Gooding and Company Pebble Beach 2013 – Auction Report Page Seven

1990 Ferrari F40 LM
Lot # 131 1990 Ferrari F40 LM; S/N ZFFGX34X0K0079891; Red/Red cloth; Estimate $2,000,000 – $2,500,000; Competition car, original as-raced, 3+ condition; Hammered Sold at $1,900,000 plus commission of 10.00%; Final Price $2,090,000. – 760hp upgraded engine, adjustable coil spring suspension, 17 inch wheels, adjustable aerodynamics, Ferrari Classiche certified – The first of two F40 LMs built for Pozzi by Michelotto for IMSA racing with two podium finishes, 3rd at Mid-Ohio (Jabouille/Grouillard) and 2nd at Mosport (Lafitte/Haywood), then retired. Orderly but dirty and neglected despite $250K in receipts for work in recent years. Raced in the Ferrari Challenge with good results. – Sold by Bonhams at Monaco in 2009 for $1,305,849 and bought here for a realistic price reflecting its history, competition prospects and condition.
1965 Ferrari 275 GTB Alloy Berlinetta
Lot # 133 1965 Ferrari 275 GTB Alloy Berlinetta; S/N 07887; Engine # 07887; Yellow/Black leather; Estimate $2,250,000 – $2,500,000; Recent restoration, 2+ condition; Hammered Sold at $2,350,000 plus commission of 10.00%; Final Price $2,585,000. – Long nose, sunburst centerlock alloy wheels, Michelin X radials, engine internal #788/64, displayed at the 1965 Paris Motor Show, Ferrari Classiche certified despite a color change and being upgraded to six carbs and having a replacement transaxle, includes a set of Borrani wire wheels, handbooks, tool roll and copies of the factory build sheets – Restored by Grand Touring Classics in Long Beach to like new condition with better paint (by Junior’s House of Color), chrome and interior. – The appeal of a Fly Yellow long nose 275 GTB is undeniable, especially when the Fly Yellow has been laid down in Junior’s justifiably famed paint booth. The alloy body is an important bonus. It appears to have had a benign life with attention as needed from some of the best shops. As such it is a sound value for the money at this price.
1929 Bentley Speed Six Grafton Coupe
Lot # 134 1929 Bentley Speed Six Grafton Coupe, Body by Freestone & Webb; S/N FR2630; Engine # FR2633; Black/Brown leather; Estimate $3,000,000 – $4,000,000; Visually maintained, largely original, 3+ condition; Hammered Sold at $2,600,000 plus commission of 10.00%; Final Price $2,860,000. – RHD. Black wire wheels, helmet fenders, leather covered trunk, rear-mounted spare, glass side window visors, green glass windshield visor, Lucas P100 bullseye headlights, self-cleaning rear seat ashtray – Originally sold to Henry C. Turner, who bought 7 new Bentleys between 1938 and 1930 before being charged with fraud in the amount of GBP51,519 in 1931. Leatherette covered body. Highly original, retaining the 1930 Bentley supplied engine block and replaced front axle. Good older paint with aged original seat upholstery torn by the driver’s right leg. Presentable on tours or among Bentley drivers but showing age and use. Comes with leather seat covers to protect the original upholstery on tour. – A highly desirable, impressively preserved Speed Six in a rare body style with a colorful history. Bought for a price that barely recognizes its unusual combination of attributes, it is a good value.
1970 Mercedes-Benz 280SL Roadster
Lot # 135 1970 Mercedes-Benz 280SL Roadster; S/N 11304412018350; Burgundy, Black hardtop/Black leather; Estimate $90,000 – $110,000; Visually maintained, largely original, 3 condition; Hammered Sold at $97,500 plus commission of 10.00%; Final Price $107,250. No Reserve – Automatic, wheel covers, narrow whitewalls, Becker Europa AM-FM, Frigiking A/C – 69,937 miles. Good recent repaint with minor flaws and drips. Decent chrome and interior. Serious overspray on the old undercoat in the wheelwells. Lightly scuffed window sill chrome. Just a driver. – But an expensive driver at this price. It was in essentially the same condition in 1993 when it was offered by Kruse in Arizona with a high bid of $17,800.
1956 Maserati 150S Sports Racer
Lot # 136 1956 Maserati 150S Sports Racer, Body by Fiandri; S/N 1667; Engine # 1667; Red/Tan leather; Estimate $2,250,000 – $3,000,000; Competition restoration, 3+ condition; Not sold at Hammer bid of $1,900,000. – RHD. Wraparound driver’s windscreen, metal passenger’s seat cover, silver painted wire wheels, Dunlop Racing tires, driver’s head fairing, synchromesh 5-speed – Raced when new for first owner Lex Beels. Body updated at Modena in 1957 to new CSI rules. Original engine. Restored to historic racing standards with very good cosmetics and the bodywork returned to the 1956 design. Freshly serviced and checked out. – Very attractively presented, with an extensive list of work done to make it safe and competitive in today’s vintage events as well as comply with FIA standards, the low estimate does not seem unreasonable, but neither is the bidders’ conclusion that this is enough to pay for a 1.5 liter Maserati sports racer.
1967 Holman Moody Ford Honker II Sports Racer
Lot # 137 1967 Holman Moody Ford Honker II Sports Racer; S/N TBD; Passino Purple/Black vinyl; Estimate $240,000 – $280,000; Competition restoration, 3+ condition; Hammered Sold at $181,818 plus commission of 10.00%; Final Price $200,000. – RHD. 377 Ford Cleveland with Webers and Gurney-Weslake heads – Factory-backed Can-Am driven by Mario Andretti, sponsored by Paul Newman. Carefully restored and developed to be a decent vintage racer. Little changed from before, just older. Cracked and chipped, peeling vinyl graphics. Orderly mechanically, engine and suspension rebuilt and new fuel bladders installed in 2008, not run since. Tom Mittler collection. – Honker II has such a bad reputation from ’67 it will be hard to convince buyers its recent taming has changed it. Back then Andretti said, “Put my name on it and let Newman try to drive it.” Offered by Christie’s here at Pebble Beach in 1998 but unsold at a reported bid of $75,000 and just older today, The prior owner and then Tom Mittler spent a fortune trying to make it competitive, and won the 1997 Historic Can-Am with it. A legendary car, but not for the right reason, but has the potential to be competitive in historic events and will be welcomed if only for its wonderful color and history. A no-sale on the block, closed later with this very fair result.
1950 Crosley Gardner Special Roadster
Lot # 138 1950 Crosley Gardner Special Roadster; S/N VC20346; Red/Black leatherette; Estimate $40,000 – $55,000; Competition restoration, 3- condition; Hammered Sold at $28,000 plus commission of 10.00%; Final Price $30,800. No Reserve – 47hp 848cc Crosley engine, single Weber 40DCOE carb, disc brakes, braced and padded roll bar, magnesium bolt on wheels – Originally owned, raced and modified by Chuck Gardner, later restored and further modified for historic competition by Donald Osborne. Dull, swirled old paint with a few blisters. Thoroughly filled body. Grungy, oily chassis. Tom Mittler collection – Sold at RM’s Amelia Island auction in 2008 for $27,500 in somewhat better condition than it is in today, but close enough to the present price that it doesn’t register on the Richter scale.
1961 Campbell Corvette Special
Lot # 139 1961 Campbell Corvette Special; S/N TBD; Red/Black vinyl; Estimate $150,000 – $200,000; Competition restoration, 2- condition; Not sold at Hammer bid of $120,000. – 283/270hp Chevy, Weiand intake with three 2-barrel Stromberg carbs, 4-speed, deDion rear axle, disc brakes, kidney bean style modular wheels, inboard rear disc brakes, center steering position with left hand shift, Moto-Lita woodrim steering wheel – Built to his own design by Bill Campbell, originally powered by an 1,100cc JAP motorcycle engine, then re-engined with a Chevy in 1961. Raced with some success through 1963. Restored to an unusually high standard, showing some competition use but unusually good care. New body. Probably a handful but a lot of fun for the money. Tom Mittler collection. – The reported high bid would seem like it should be sufficient to find a new home for a homebuilt, even a modestly successful homebuilt and one so carefully restored.
1953 Deutsch-Bonnet HBR-53
Lot # 140 1953 Deutsch-Bonnet HBR-53; S/N HBR789; Blue/Burgundy leather; Estimate $180,000 – $220,000; Competition restoration, 2 condition; Not sold at Hammer bid of $100,000. – 745cc/65hp opposed twin, single carburetor, 4-speed, braced driver’s rollbar, two bucket seats, Moto-Lita woodrim steering wheel, dual Plexiglas windscreens – Possibly the 1954 Sebring Index of Performance winner (there are only two candidates so the odds are no worse than 50-50.) Restored to high standards of fit and finish in 2004. Tom Mittler collection. – Rare, probably surprisingly quick and shapely, this is an exceptional piece of early postwar French competition history, the latter a factor apparently lost on the Pebble Beach Auction bidders who couldn’t muster much excitement about it. It’s worth more than the amount reportedly bid for it, but not the low estimate.
1955 Mercedes-Benz 300SL Gullwing
Lot # 141 1955 Mercedes-Benz 300SL Gullwing; S/N 1980405500428; Graphite Grey/Red leather; Estimate $1,200,000 – $1,500,000; Cosmetic restoration, 2- condition; Hammered Sold at $1,550,000 plus commission of 10.00%; Final Price $1,705,000. – Chrome Rudge centerlock wheels, belly pans, fitted luggage, Talbot outside mirror, Michelin Harmony tires, Nardi steering wheel, belly pans, owner’s books, full tool kit – Owned from 1966-2010 by E.D. ‘Bud’ Hartwell. Freshly cosmetically restored like new and fully serviced. The leather is butt-polished from some tour miles but overall a very good example in unusually attractive colors. – The upward climb of 300SL prices is hard to keep up with. This result is on the curve.
1966 Ferrari 330 GT 2+2 Series II
Lot # 142 1966 Ferrari 330 GT 2+2 Series II, Body by Pininfarina; S/N 8787; Engine # 8787; Silver-Grey/Black leather; Estimate $180,000 – $220,000; Unrestored original, 4+ condition; Hammered Sold at $160,000 plus commission of 10.00%; Final Price $176,000. No Reserve – Borrani wire wheels, Pirelli CN72 tires, Motorola AM-FM, underdash 8-track, P/W, manuals, tool roll, jack – Two owners from new showing 55,879 believable miles. An original car. Peeling, dull paint but sound interior and remarkably good chrome. Dirty engine. Probably not good enough to preserve but an easy cosmetic and mechanical restoration project. – This is an ample price for a 330 GT 2+2 restoration project. As a conversation piece mechanically recommissioned and drivable but only cosmetically refreshed it is perhaps even a good value.

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Show Comments (2)

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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.