Is this the sign of a top of the market or just another step higher?
FOR IMMEDIATE RELEASE
Gooding & Company’s Pebble Beach Auctions Achieves Highest
One-Day Sale With More Than $76 Million
The Auction House Celebrates Highest Single-Day Sale and
Most Expensive Lot in Company History – 13 Cars Sold Above the $1 Million Mark
PEBBLE BEACH, Calif. (August 21, 2016) – Gooding & Company, the official auction house of the Pebble Beach Concours d’Elegance®, realized more than $76.7 million during the first of its two-evening Pebble Beach auction event. The auction house acclaimed for its world-class consignments and record-breaking prices delivered an 88% sales rate as 70 of 80 lots were sold for an astounding average price of $1,096,664 per car. The market trend for highly-sought after cars from renowned marques such as Ferrari, Porsche, Lamborghini and Packard were confirmed as new world auction records were broken on Saturday night. This included the illustrious 1959 Ferrari 250 GT LWB California Spider Competizione (sold for: $18,150,000), the 1960 Ferrari 250 GT SWB Berlinetta Competizione (sold for $13,500,000), the 1950 Ferrari 166 MM Berlinetta (sold for $5,445,000), the 1979 Porsche 935 (sold for $4,840,000) driven by Paul Newman at the 1979 24 Hours of Le Mans, the Nocciola copper metallic gold Ferrari 275 GTB/4 (sold for $3,245,000), the Lamborghini Miura P400 SV (sold for $2,255,000) and the world-record setting 1930 Packard 734 Speedster Runabout (sold for $2,090,000).
“Our company continues to raise the bar every year, which has resulted in us delivering not only our most successful one-day sale, but also the most expensive lot sold at a Gooding & Company auction – the lauded 1959 Ferrari 250 GT LWB California Spider,” states David Gooding, President and Founder of Gooding & Company. “Attendees for tomorrow night’s auction following the Concours will witness another spectacular curated lineup of cars which includes, the exceptional 1933 Alfa Romeo 8C 2300 Monza, the stunning 1962 Ferrari 250 GT SWB Berlinetta and the historic 1932 Bugatti Type 55 Roadster.”
Lots sold for over $1 million from the Saturday sale:
Lot 33 – 1959 Ferrari 250 GT LWB California Spider Competizione, sold for $18,150,000
Lot 56 – 1960 Ferrari 250 GT SWB Berlinetta Competizione, sold for $13,500,000
Lot 68 – 1950 Ferrari 166 MM Berlinetta, sold for $5,445,000
Lot 60 – 1979 Porsche 935, sold for $4,840,000
Lot 40 – 1967 Ferrari 275 GTB/4, sold for $3,245,000
Lot 22 – 1971 Lamborghini Miura P400 SV, sold for $2,255,000
Lot 30 – 1930 Packard 734 Speedster Runabout, sold for $2,090,000
Lot 35 – 1955 Lancia Aurelia B24S Spider America, sold for $2,007,500
Lot 48 – 1961 Maserati 5000 GT Coupe ‘Indianapolis’, sold for $1,677,500
Lot 14 – 1955 Mercedes-Benz 300 SL Gullwing, sold for $1,430,000
Lot 19 – 1988 Porsche 959 Komfort, sold for $1,320,000
Lot 45 – 1994 Porsche 964 Turbo 3.6 S Flachbau, sold for $1,100,000
Lot 54 – 1914 Marmon 41 Speedster, sold for $1,017,500
Gooding & Company’s Pebble Beach Auctions continue on August 21 at 6:00 p.m. PDT. Exquisite entries in the Sunday sale include the perennial 1933 Alfa Romeo 8C 2300 Monza (estimate: $12,000,000-$15,000,000), the Ettore Bugatti-owned 1932 Bugatti Type 55 Roadster (estimate $10,000,000-$14,000,000), the 1962 Ferrari 250 GT SWB Berlinetta (estimate: $10,000,000-$12,000,000) and the Bertone-bodied 1954 Aston Martin DB2/4 Spider (estimate: $3,000,000-$4,000,000).
The Pebble Beach Auctions
Dates: Sunday, August 21 at 6:00pm
Location: Equestrian Center, corner of Stevenson Drive and Portola Road, Pebble Beach, CA
Public preview: Wednesday, August 17 – Sunday, August 21
Auction catalogues: $100, includes admission for two to the viewing and the auctions
General admission: $40, includes admission for one to the viewing and the auctions
Live auction broadcast: www.goodingco.com
Twitter: @GoodingCompany #GCoPB
$200 includes a catalogue, admission for two to the viewing and auction with two reserved seats, subject to availability.
About Gooding & Company
Gooding & Company’s auctions, now in their second decade, produce market-leading prices and deliver to a worldwide reach of clients and enthusiasts. Throughout 2016, spectators and patrons from over 45 nations witnessed this year’s auctions live in high-definition video broadcast via our webcast. Gooding & Company’s annual Scottsdale Auctions will take place on January 20 and 21, 2017 at the Fashion Square Mall in charming Old Town Scottsdale. In addition, the auction house’s annual Amelia Island Auction will be held on March 10, 2017 at the Omni Amelia Island Plantation. Bidder registration forms, press credentials and additional auction information are available at www.goodingco.com or by calling (310) 899-1960. Follow Gooding & Company on Facebook, Instagram, SnapChat and Twitter.
High-resolution images can be found at the below link. Images copyright and courtesy of Gooding & Company.