Gooding wraps up two-day, $76.8m 2019 Pebble Beach auction
As we predicted, things took a turn for the better today when Gooding sold 62 cars at a healthy sell-through of 82%. The voluptuous S1 Pinin Farina Cabriolet came out top, sold on just after the sale finished for $6,800,000.
Like yesterday, prices were depressed against the company’s traditionally confident estimates, but we did not witness a repeat of the fire-sale results seen everywhere over the last couple of days.
At a glance, Saturday 17 August:
* Gross: $33,870,240
* Percentage sold by number: 82%
* Top-selling car: 1958 Ferrari 250 GT Series I Pinin Farina Cabriolet (below) $6,800,000 gross, $6,696,429 net (est. $7m to $9m) post sale
* Well sold? $852k gross for the green 1969 Ferrari 365 GTC estimated at $675k to $750k, and in challenging times, too
* Well bought? Maybe the $170.8k early (1962) Jaguar E-type Roadster
* One to take away? Less fashionable nowadays, the 1952 Ferrari 212 Inter Coupé had something about it and was picked up for $1.6m all-in, $250k below low estimate
Nearly all significant cars sold. The Strawberry ‘Preservation Class’ 1955 Mercedes-Benz 300 SL ‘Gullwing’ (pictured, top) was bang on 2019 money at $1.435m gross. For all its attractions, the first production Ferrari 365 GTB/4 ‘Daytona’ was always more a million-dollar, rather than a million-and-a-half-dollar car. It sold for $995,000 incl. premium. The popular 1939 Alfa Romeo Tipo 256 Coupé likewise achieved a market-realistic $2.755m.
Non-sellers included the Ferrari 410 Superamerica, the wacky Lancia S4 Stradale, the F40 and the sensational 1953 Alfa Romeo 6C 3000 CM Superflow IV.
Added to Friday’s revised results, David Gooding’s company grossed $76.82m, down on last year but in line with the others. Simon and I will give you our take on what this means for the market tomorrow.
Gooding at Pebble Beach, 16 – 17 August 2019, updated 19 August (2018)
Gross: $76,824,740 ($115,864,500)
Number of cars not sold: 32 (25)
Number of cars withdrawn: 0 (2)
Total number of cars: 140 (147)
Number sold: 108 (122)
Percentage cars sold by number: 77% (83%)
Percentage by value average low/high estimate: 51% (69%)
Percentage of cars met or sold below low estimate: 85% (60%)
Percentage of cars sold below avge of estimates: 95% (75%)
Percentage of cars sold met/exceeded top estimate: 4% (12%)
Average price of cars sold: $711,340 ($949,709)
Average year of cars offered: 1963 (1970)
Percentage of cars offered at No Reserve: 39% (41%)
Photos by K500