The Market


Gooding closes out Pebble Beach 2023

Gooding closes out Pebble Beach 2023 20th August 2023

Saturday morning and early afternoon over Pebble Beach weekend traditionally belong to Californian firm Gooding & Co. This year, talismanic British auctioneer Charlie Ross rounded off proceedings with a brisk event, despatching at least 76 cars of the 100 catalogued to new owners.

Ironically, given the debate over the new generation of coolectors, and whether a post-War car would ever take top slot on Concours Sunday again, the highest-grossing car earlier today was from 1912.

Like other auctions this week, the sale was notable for exceptional cars doing well and lesser entries that can be bought next week failing to fire.

At a glance (provisional):

* Gross, motor cars: $39,079,270
* Percentage sold by number: 76%
* Top-selling car: 1912 Simplex 50 HP Toy-Tonneau $4,075,000 gross, $3,700,000 net (est. $3m to $4m)    

The exciting 1952 Ferrari 340 America Berlinetta found a new owner under lower estimate at $3,085,000, a success for a 1950s Ferrari this week, followed up by the 1962 Ferrari 400 Superamerica Series I Coupé Aerodinamico selling for $3,167,500.

Other results of note (all prices gross):

*1965 Aston Martin DB5 Convertible, $2,205,000. Non-original colours and sparkly, probably a buy for someone at less than market price from a British specialist.
*1963 Alfa Romeo Giulia Sprint, $64,400. Lovely little car and cheap.
*1966 Ferrari 275 GTB, $3,415,000. The metallic green Ferrari that was the talk of the tents. Beautiful colour brought it into the foothills of four-cam country.
*1992 Porsche 964 Carrera RS, $533,000. Try getting that in Europe for a track-day special with roll-cage and strut-brace.
*1968 Lamborghini Miura P400, $2,260,000. Last bought for $1.9m at Gooding in August 2021, a very well restored Miura.

Pending aftersales, we forecast a likely gross/sell-through of $93.7m/78% for the company’s two-day 2023 Pebble Beach event. In record-breaking 2022, it was $109m at 85%.

Gooding at Pebble Beach, 19 August 2023 – provisional results

Gross: $39,079,270
Number of cars not sold: 24
Number of cars withdrawn: 0
Total number of cars: 100
Number sold: 76
Percentage of cars sold by number: 76%
Percentage of cars met or sold below low estimate: 67%
Percentage of cars sold below avge of estimates: 82%
Percentage of cars sold met/exceeded top estimate: 11%
Average price of cars sold: $514,201
Average year of cars offered: 1958
Percentage of cars offered at No Reserve: 51%

Photos by K500