Gooding’s finishing day at Pebble Beach 2024

With no competing auction, the Gooding Saturday-morning sale at Pebble is always a relaxed and enjoyable event, with rarely equalled British auctioneer Charlie Ross in fine form on the rostrum.

Provisional results indicate a one-day figure of some $29.4m. Combined with last night’s figures, that puts the Californian firm in the frame for a likely $90m+ overall.

At 75%, the sell-through by number was respectable, and will no doubt be improved upon overnight. But so many big cars failing on the day restricted a two-day gross that was potentially record-breaking. Casualties earlier today included: 1956 Ferrari 410 Superamerica Series 1 Coupé; 1937 Bugatti Type 57SC Atalante; 1955 Ferrari 857 Sport Spider; 1934 Alfa Romeo 8C 2300 Cabriolet Décapotable; 1955 Porsche 550 Spyder: 1956 Maserati A6G/54 Berlinetta by Zagato; 1954 250 Europa GT Coupé Speciale; 1955 Ferrari 250 GT Competition Berlinetta (below); 1965 Ferrari 500 Superfast. Taking the low-estimate figures of these cars alone, without premium, that comes to over $40m.

Other than the 1930s Alfa Romeo 8C 2300 and Bugatti Type 57SC, perhaps in a softening market due to changing demographics, all are 1950s competition cars or bespoke ‘super Ferraris’ for the world’s wealthiest.

K500 will delve deeper into these trends, which have been seen across the board this week, in a Monterey sum-up early next week.

The market for sub-$1m cars was healthy and 10% of the Saturday catalogue beat upper estimate.

At a glance (provisional):

* Gross, motor cars: $29,442,101
* Percentage sold by number: 75%
* Top-selling car: 1970 Lamborghini Miura P400 S, $2,040,000 gross, $1,850,000 net (est. $2m to $2.5m)
* Well sold? The 2013 Lamborghini 5-95 by Zagato. Estimate: $400k to $600k. Who buys these cars? Someone paid $720,000 for this one today
* Well bought? Preservation class 1961 Mercedes-Benz 300 SL Roadster with original black (black!) paint that went for a reasonable $1,187,500, but factor in unknown costs to bring back to proper driving condition yet maintain the charming patina

Much interest surrounded the arrival of the ‘living room-find’ Miura S. It was pushed over the ramp and departed soon afterwards after spirited bidding to a new US home for just over $2m. Bucking the trend for ‘Daytona’ Berlinettas doing well this week, the more affordable ($500k to $550k) but nothing special 1971 US car failed to sell. One of the bargains of the day was the $275k to $325k No Reserve 1967 Lancia Flaminia Super Sport bought for $173,600.

Other results of note:

* 1974 Ferrari Dino 246 GTS, $555,000. Silver US-spec ‘Chairs and Flares’ announced on sale at $480k. A fair result tilting slightly in the buyer’s favour.
* 1956 Ferrari 410 Superamerica Series 1, Not Sold. Ex-Bao Dai, the last emperor of Vietnam, missing its original engine. Another old-school Ferrari out of sync with today’s collectors, stalling at $2.3m.
* 1967 Ferrari 330 GTC, $665,000. Delivered new to Verona, Italy, in white over dark red hide – now dark blue/beige after a US restoration and Classiche-certified. In at No Reserve but not given away.
* 1929 Duesenberg Model J Town Car, $1,077,500. Released by a pragmatic vendor for a price half its top estimate. The way ahead for some older cars.

All prices include buyer’s premium.

Gooding at the Pebble Beach Parc du Concours, 17 August 2024 – on-the-day results

Gross: $29,442,101
Number of cars not sold: 25
Number of cars withdrawn: 0
Total number of cars: 100
Number sold: 75
Percentage cars sold by number: 75%
Number of cars met or sold below low estimate: 44
Percentage of cars met or sold below low estimate: 59%
Percentage of cars sold below avge of estimates: 76%
Percentage of cars sold met/exceeded top estimate: 21%
Average price of cars sold: $392,561
Average year of cars offered: 1957
Percentage of cars offered at No Reserve: 59%

Photos by K500