1959 Ferrari 250 GT LWB California Spider Competizione (photo: Mike Maez)
1959 Ferrari 250 GT LWB California Spider Competizione (photo: Mike Maez)

Gooding Sold 50 Cars For Over $1 Million

Gooding & Company reported its 2016 year-end auction sales total of more than $233 million. The company posted an 85 percent sell-through rate on 281 lots sold for an average price per lot of $829,050. The 2016 auction total was the highest ever for the auction house, with 50 cars exceeding $1 million.

“I am elated by our impressive 2016 results and look forward to the quality offerings our team will deliver to the global car community in the coming year,” said David Gooding, President of Gooding & Company. “We will continue to see strong demand for vehicles from top marques that represent the very best in their categories.”

The auction house’s top sales this year were the 1959 Ferrari 250 GT LWB California Spider Competizione that sold for $18,150,000, the 1962 Ferrari 250 GT SWB California Spider that sold for $17,160,000, the 1960 Ferrari 250 GT SWB Berlinetta Competizione that sold for $13,500,000, the 1933 Alfa Romeo 8C 2300 Monza that sold for $11,990,000, the 1932 Bugatti Type 55 Roadster that sold for $10,400,000, and the 1950 Ferrari 166 MM/195 S Berlinetta Le Mans that sold for $6,490,000.

Gooding and Company 2016 – Top Ten Lots Sold

1. 1959 Ferrari 250 GT LWB California Spider Competizione – $18,150,000
2. 1962 Ferrari 250 GT SWB California Spider – $17,160,000
3. 1960 Ferrari 250 GT SWB Berlinetta Competizione – $13,500,000
4. 1933 Alfa Romeo 8C 2300 Monza – $11,990,000
5. 1932 Bugatti Type 55 Roadster – $10,400,000
6. 1950 Ferrari 166 MM/195 S Berlinetta Le Mans – $6,490,000
7. 1950 Ferrari 166 MM Berlinetta – $5,445,000
8. 1955 Porsche 550 Spyder – $5,335,000
9. 1979 Porsche 935 – $4,840,000
10. 1967 Ferrari 330 GTC Speciale – $3,410,000

Gooding and Company 2016 – Top Five World Auction Records (model specific)

1. 1959 Ferrari 250 GT LWB California Spider Competizione – $18,150,000
2. 1960 Ferrari 250 GT SWB Berlinetta Competizione – $13,500,000
3. 1933 Alfa Romeo 8C 2300 Monza – $11,990,000
4. 1932 Bugatti Type 55 Roadster – $10,400,000
5. 1950 Ferrari 166 MM/195 S Berlinetta Le Mans – $6,490,000

Scottsdale Auctions, January 29-30, 2016 (See Gooding Scottsdale Auction Report)

  • $43,011,050 in total sales
  • 97 of 113 lots sold
  • 86 percent sales rate
  • Four new world records
  • Nine cars sold for over $1 million

At the Scottsdale Auctions, Gooding & Company continued to see high demand for Ferraris from Italian coachbuilders. Most notably, the 1950 Ferrari 166 MM/195 S Berlinetta Le Mans sold for a record price of $6,490,000. The coachbuilt 1967 Ferrari 330 GTC Speciale also prompted a bidding war, selling for $3,410,000 and breaking a world auction record for the model. Gooding & Company offered Ferrari supercars from the Tony Shooshani Collection. The collection garnered strong results, which included the 2003 Ferrari Enzo (sold for $2,860,000), the 1995 Ferrari F50 (sold for $2,400,000) and the 1990 Ferrari F40 (sold for $1,534,000).

Amelia Island Auction, March 11, 2016 (See Gooding Amelia Auction Report)

  • $60,162,150 in total sales – highest sale total in Amelia Island history
  • 69 of 79 lots sold
  • 87 percent sales rate
  • Nine new world records
  • Fifteen cars sold for over $1 million

In March at The Amelia Island Auction at the Omni Plantation’s Racquet Park, Gooding & Company offered 18 collector cars from Jerry Seinfeld. Following Mr. Seinfeld’s introduction on stage by David Gooding, $22.2 million was garnered by selections from the Jerry Seinfeld Collection. High points from the Seinfeld Collection included the 1955 Porsche 550 Spyder (sold for $5,335,000) and the 1974 Porsche 911 IROC RSR (sold for $2,310,000). Following the Seinfeld Collection, the star of the day, the 1962 Ferrari 250 GT SWB California Spider sold for a final price of $17,160,000, the most expensive lot sold at Amelia Island this year.

Pebble Beach Auctions, August 20-21, 2016 (See Gooding Pebble Auction Report)

  • $129,789,750 in total sales
  • 115 of 138 lots sold
  • 83 percent sales rate
  • Average price per car sold: $1,128,606
  • 20 world records
  • 26 cars sold for over $1 million
  • Five cars sold for over $10 million

Gooding & Company, the official auction house of the Pebble Beach Concours, broke numerous world records across multiple marques. These included the 1959 Ferrari 250 GT LWB California Spider Competizione sold for $18,150,000 — a new record for a Ferrari LWB California Spider and a new company record for a single lot sold at auction. Additional auction benchmarks that were set included the 1960 Ferrari 250 GT SWB Berlinetta Competizione (sold for $13,500,000), the 1933 Alfa Romeo 8C 2300 Monza (sold for $11,990,000); the 1932 Bugatti Type 55 Roadster (sold for $10,400,000) driven by Achille Varzi in the 1932 Mille Miglia; and the 1979 Porsche 935 (sold for $4,840,000) driven by Paul Newman at the 1979 24 Hours of Le Mans.

Looking Forward to 2017

Gooding & Company will be conducting its 10th annual Scottsdale Auctions on January 20 and 21 at Scottsdale Fashion Square, located in Old Town Scottsdale. Consignments include the 1925 Bugatti Type 35 Grand Prix (estimate: $2,600,000 – $3,200,000) that has three owners from new. The next annual Amelia Island Auction will take place on March 10 in Amelia Island, Florida, and the annual Pebble Beach Auctions will be held August 19 and 20 in Pebble Beach, California.

[Source: Gooding and Company]