Gooding Pebble Beach 2013 – Auction Report

Gooding and Company Pebble Beach 2013 – Auction Report Page Eight

1955 Ferrari 250 GT Berlinetta Competizione
Lot # 143 1955 Ferrari 250 GT Berlinetta Competizione, Body by Pinin Farina; S/N 0415 GT; Engine # 0445 GT; White/Dark Grey leather; Estimate $6,500,000 – $7,500,000; Competition restoration, 2- condition; Hammered Sold at $6,500,000 plus commission of 10.00%; Final Price $7,150,000. – Chrome spoke Borrani wire wheels, Avon blackwall tires, engine internal #383, original block 0415 GT internal #361 included, Ferrari Classiche certified – First owned by Alfonso de Portago, raced at Nassau in 1955. Competently restored by Ferrari Classiche as a weekend driver and tour car. Sound paint, good upholstery, thin chrome everywhere. Underbody done to workmanlike standards, sort of like it came from Maranello. – An eligible-for-anything car with performance that matches the aggressive appearance of its Pinin Farina coachwork. It might even be better than a Tour de France in the sense it is more rare. The Pebble Beach Auction bidders recognized it as such and paid full retail for it.
1934 Rolls-Royce Phantom II Continental 3-Position Sedanca Coupe
Lot # 146 1934 Rolls-Royce Phantom II Continental 3-Position Sedanca Coupe, Body by HJ Mulliner; S/N 17TA; Engine # KE15; Black/Tan; Black top; Estimate $500,000 – $700,000; Older restoration, 2- condition; Not sold at Hammer bid of $390,000. – RHD. Polished wheel discs, blackwall tires, dual enclosed sidemounts – Fully documented, originally built as a Gurney Nutting Sedanca deVille but rebodied in 1940s with racier Mulliner body from 123TA, Very straight and sound, good repaint, nice interior, detailed evidence of care and maintenance. A good older restoration with new paint, carpet, wood finish and top. Clean and orderly, but not fresh, engine. – Much-loved PIIs represent the best value in pre-WWII Rolls-Royces (if you have a very big garage) and while the body swap could have affected the outcome, the sober color is more likely to be the reason it went unsold. Maybe if it had been dark red with chrome wires and biscuit leather?
1965 Jaguar XKE SI 4.2 Roadster
Lot # 147 1965 Jaguar XKE SI 4.2 Roadster; S/N 1E11363; Engine # 7E52979; Opalescent Dark Green, Opalescent Dark Green hardtop/Tan; Black Cloth top; Estimate $150,000 – $180,000; Unrestored original, 3- condition; Hammered Sold at $245,000 plus commission of 10.00%; Final Price $269,500. No Reserve – Matching numbers, chrome wire wheels, narrow whitewalls, two tops, Motorola radio, grille guard, tools, full records, JDHT Certificate – One owner for 30 years followed by others who merely preserved it undriven, faded paint, hard top poorly color-matched to body from typical black color, worn interior, weathered seals, mechanical condition a question mark based on the state of the cosmetics. Not nice enough to leave as is, so a restoration is imminent. – There’s a point were preserved veers into neglected, and low-mile cars tend to have bad things start happening fairly quickly. Plenty of better examples are available at a lower cost, and won’t require the expense of a full restoration. This was an expensive E-type.
1967 Ferrari 365 California Spider
Lot # 149 1967 Ferrari 365 California Spider, Body by Pininfarina; S/N 10327; Engine # 10327; Maroon/Camel leather; Black cloth top; Estimate $2,000,000 – $2,400,000; Cosmetic restoration, 3+ condition; Hammered Sold at $2,700,000 plus commission of 10.00%; Final Price $2,970,000. – Chrome spoke Borranis, P/W, P/S, Blaupunkt AM-FM, A/C, covered headlights, popup driving lights, P/S, P/B. – A mediocre older cosmetic restoration now showing its age but still a spectacular Ferrari. Paint is cracking here and there. Window felts are worn, chrome is weak. Interior is lightly used. – Sold here in 2007 for $1,375,000 showing 36,335 miles, it’s covered just 627 miles in the intervening six years and is in no better shape now than it was then although that it’s never had, or needed, a complete restoration is somewhat reassuring. A gorgeous and rare Ferrari, the Pebble Beach bidders responded to its style, rarity and performance with an enthusiastic price.
1961 Mercedes-Benz 220SEb Coupe
Lot # 150 1961 Mercedes-Benz 220SEb Coupe; S/N 11102110020628; White/Red; Estimate $65,000 – $85,000; Older restoration, 3+ condition; Hammered Sold at $72,500 plus commission of 10.00%; Final Price $79,750. No Reserve – Behr air conditioning unit fitted in 2010, hubcaps and trim rings, whitewall tires, tools, first aid kit, jack, books and records – Fully restored 30 years ago and now showing age, the seals and tires are crispy, paint and chrome remain presentable, original interior shows nice patina. Still a sharp car, but showing its age. – A very handsome car, but this will likely be the first of a number of checks, to be written. The old lady’s clock is ticking even if the alarm has not gone off yet. The seller should be very pleased with this result.
1957 Ferrari 500 TRC Sports Racer
Lot # 151 1957 Ferrari 500 TRC Sports racer, Body by after Scaglietti; S/N 0690MDTR; Engine # 1586/62E; Yellow, Black stripe and front wheel coves/Black leather; Estimate $1,500,000 – $2,300,000; Competition restoration, 2- condition; Hammered Sold at $2,800,000 plus commission of 10.00%; Final Price $3,080,000. – RHD. Chrome spoke Borranis, Engelbert tires, full width windshield, Plexiglas hood scoop, driver’s head fairing, covered Marchal headlights – 3rd in class driven by Siro Sbraci in the 1957 Mille Miglia, crashed by Armando Garcia Cifuentes in the 1958 Cuba GP and confiscated by the authorities. Sold to Colin Crabbe in 1985 less body, engine and other parts. Restored by Neil Twyman with new body and outside plug V-12. Good older restoration to attractive touring and historic racing condition. – There is not a lot of 0690MDTR left in this car although buyers even of 7-figure Ferraris seem to pay less and less attention to niggling details like that. It would have been a decent value at $2 million.
1969 Ferrari 365 GTC
Lot # 153 1969 Ferrari 365 GTC, Body by Pininfarina; S/N 12191; Dark Green/Camel leather; Estimate $800,000 – $950,000; Visually maintained, largely original, 3- condition; Not sold at Hammer bid of $650,000. – Centerlock alloy wheels, Blaupunkt multiband radio, P/W, A/C, leather dashboard – Bad old partial repaint over worse prep, chipped and cracked. Good interior. Scratched, thin chrome. Dirty engine and underbody. Front seats reupholstered. Not good enough to be preserved, but never needed preservation or restoration, either. – This 365 GTC should have found a new home long before reaching its reported high bid. The consignor, who had owned, driven and enjoyed it for 16 years, misinterpreted the hype in GTC values and had expectations that were unreasonably high. In a volatile market set expectations low and hope lightning will strike.
1970 Toyota FJ40 Land Cruiser Utility
Lot # 155 1970 Toyota FJ40 Land Cruiser Utility; S/N FJ4083722; Grey, White hardtop/Dark Brown leather; Estimate $75,000 – $90,000; Recent restoration, 2- condition; Hammered Sold at $65,000 plus commission of 10.00%; Final Price $71,500. No Reserve – Warn front hubs, 15 inch BFG All Terrain tires, Maxte driving lights, XRC winch, A/C, center-facing rear seats, ostrich leather dash, brochure, service manual, tools, extra keys – Restored better than new with some nicks and drips. A bit overdone in the interior materials, but that’s the style for FJ40s today. – Sold by RM in Arizona in January 2012 for $77,000 with some subsequent mechanical work. No auction these days is complete without an FJ40 but this one didn’t fare so well among the Ferraris and Rolls-Royces. The price it brought is even something of a bargain.
1961 Mercedes-Benz 300 Cabriolet D
Lot # 156 1961 Mercedes-Benz 300 Cabriolet D; S/N 18903312002795; Engine # 1899012002123; Black/Red; Black top; Estimate $500,000 – $650,000; Older restoration, 1- condition; Hammered Sold at $450,000 plus commission of 10.00%; Final Price $495,000. – Automatic, full history, hubcaps, trim rings, whitewall tires, fitted luggage, tools, books – Unbroken chain of ownership, fully documented restoration from early 1990s, recent mechanical refreshing, excellent paint and plating. Top fits well and not showing signs of use, interior very sound even though the lipstick red leather (described as it was delivered by M-B) is pure Lincoln Mk IV. Most Elegant M-B at Amelia Island in 2011, class winner at St. John’s – A very sound car with good history and impeccable records, benefiting from continuous attention to improve the quality and authenticity of its restoration and bought for a moderate retail price. But sunglasses are required for that interior.
1965 Ferrari 275 GTB
Lot # 158 1965 Ferrari 275 GTB; S/N 07797; Engine # 07797; Red/Black leather; Estimate $1,350,000 – $1,550,000; Visually maintained, largely original, 3 condition; Hammered Sold at $1,350,000 plus commission of 10.00%; Final Price $1,485,000. – RHD. Chrome spoke Borranis, Blaupunkt 8-track stereo, engine internal #790/64 – Pulled from a container where it had sat since the late 1980’s Sound older repaint, worn original leather, weak chrome, old tires. 57,393 miles believed to be all it has covered since new. – Pretty far gone, but recoverable although at considerable effort and expense. After recommissioning it will be worth … about what it brought here.
1954 Jaguar XK 120SE Roadster
Lot # 159 1954 Jaguar XK 120SE Roadster; S/N S675866; Engine # F34448S; Light Metallic Gray/Red; Estimate $120,000 – $140,000; Older restoration, 2 condition; Hammered Sold at $140,000 plus commission of 10.00%; Final Price $154,000. No Reserve – Matching numbers, chrome wire wheels, whitewall tires, tools, fitted luggage, Koni adjustable shocks, leather interior, stainless steel exhaust (which needs new hangers) – Five-year restoration started in 2000 that resulted in numerous JCNA awards. Excellent paint, fair chrome, serviceable top, brightly polished underhood. The matte finish on the leather is popular today. Seems solid overall, though the lack of history prior to 2000 is a bit of a concern.– Even with the awards this is a surprisingly strong result, but it is $65K short of the record, which for a non-alloy, non competition, non-Supersonic XK 120 was set by Bonhams with S674424 at Quail Lodge in 2009 at $221,500, $195,000 hammer.

[Source: Rick Carey]

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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.