The Market


Gooding’s final day of its 2022 Pebble Beach event

Gooding’s final day of its 2022 Pebble Beach event 21st August 2022

Working with provisional figures, Gooding’s likely gross of $45.5m achieved today brings its two-day overall total to over $105m. In 2021 that was $106.8m.

It was another day of consistently firm results right across the board there, where British stand-in auctioneer Thomas Forrester entertained the saleroom and sold over eight of every ten cars offered. The casualties were no-sales rather than weak prices – nearly a quarter beat top estimate.

At a glance from strictly on-the-day figures:
* Gross, motor cars: $45,539,220
* Percentage sold by number: 85%
* Top-selling car: 1961 Ferrari 400 Superamerica Series I Coupé Aerodinamico, $6,000,000 gross, $5,450,000 net (est. $5m to $6m)
* Well sold? At $940k all-in, the 599 GTO was big money. So too was the $720k Ferrari F512m – how much were these cars a couple of years ago?
* Well bought? The Preservation Class 1937 Bugatti Type 57C Ventoux generated much pre-sale interest but was sold under lower estimate for $940,000 incl. premium: an elegant and sporting pre-War car of compact dimensions with useful supercharged performance.

The through-the-roof prices of modern cars continued – the 599 GTO, F512M and F430 – but older classics sprung surprises too. An immaculate M-B 540K Sport Cabriolet A sold for $3,085,000; a 220 S Cabriolet for $307,500.

Bought at RM in Paris in 2019 for the equivalent of $2.3m and little used since, the 1994 Bugatti EB110 Super Sport achieved $3,167,500 with premium today.

A bidder in the room won the superb Ferrari 400 Superamerica; a good result for one of the great Ferraris. As we witnessed over at RM last night, the appetite for 1950s sports-racers has waned. Today, the 1954 Ferrari 500 Mondial SI Spider went for a below-estimate $2,095,000 and the 1959 Porsche 718 RSK did not sell (neither did RM’s on the day).

Other results of note (all prices gross):

* 1937 BMW 328 Roadster ‘barn find’, $874,000. A well-preserved 328 ripe for sympathetic restoration.
* 1966 Ferrari 275 GTS, $1,765,000. Sold (only just) under low estimate, its mostly original black paint and only four owners from new (one for 40 years) tick the boxes. Get that white leatherette back in again.
* 1957 Mercedes-Benz 300 SL Roadster, $1,600,000. Reported second Roadster built and New York show car, matching numbers and recent $600k restoration.
* 1976 Ferrari 308 GTB Vetroresina, $224,000. Yellow, a model that peaked in the 2008-2015 boom and now coming back again.
* 2008 Ferrari F430, $412,000. Six-speed ‘stick’ shift explains the price. Triple-black spec with chromed wheels not for everyone.

Gooding at Pebble Beach, 20 August 2022 – provisional results

Gross: $45,539,220
Number of cars not sold: 13
Number of cars withdrawn: 1
Total number of cars: 88
Number sold: 75
Percentage cars sold by number: 85%
Percentage of cars met or sold below low estimate: 47%
Percentage of cars sold below avge of estimates: 64%
Percentage of cars sold met/exceeded top estimate: 24%
Average price of cars sold: $607,190
Average year of cars offered: 1964
Percentage of cars offered at No Reserve: 40%

Gooding & Co provisional combined 19-20 August figures (2021)

Gross: $105,386,520 ($106,798,761)
Percentage cars sold by number: 82% (87%)

Photos by K500