The Market


Monterey 2021: Bugatti T35B leads the way on final day at Gooding

Monterey 2021: Bugatti T35B leads the way on final day at Gooding 15th August 2021

After the fireworks of the previous evening, affairs were conducted in a more relaxed atmosphere on Saturday morning, where top-selling car was the $5.615m Grand Prix Bugatti Type 35B.

With the exception of the ex-Baillon Collection 1956 Maserati A6G/54 Coupé and 1931 ‘Blower’ Bentley, working on provisional figures, every $2m+ lot found a new owner.

Based on these results and aftersale deals in the offing, expect the Santa Monica firm to post a $107m+ two-day gross, its best since 2018.

At a glance (provisional):

* Gross: $44,267,060
* Percentage sold by number: 89%
* Top-selling car: 1929 Bugatti Type 35B Grand Prix $5,615,000 gross, $5,100,000 net (est. $3.5m to $4.5m)
* Well sold? The GP Bugatti. In a fussy market where originality is all, its matching-numbers original supercharged engine and period factory racing history did the trick
* Well bought? Probably any one of the more affordable inter-war American classics, a sometimes subdued category on the day
* One to take away? Non-original colour, but the 1961 Maserati 3500 GT Spyder was a disc-brake car with Webers and 5-speed ’box from new. It sold for a reasonable $698,000

Highlights of the second half of the catalogue included the gold 1958 Ferrari 250 GT Series I Cabriolet (held back by a 2002 garage fire and sold under low estimate for $4,405,000) and left-hand-drive 1961 Aston Martin DB4 GT, a well-restored car that went for $3,305,000.

While some of the pre-War Americana failed to fire, the 1930 Duesenberg Model J Disappearing-Top Convertible Coupé sold over mid-estimate for $3,965,000 all-in. The 1914 Stutz Bearcat, pictured below, was another hit, realising $2,920,000. All prices include premium.

Cars were consigned from the collection of the late Neil Peart, formerly the drummer of rock band Rush. One was a Lamborghini Miura P400 S. This time there was no repeat of last night’s success for a well-restored Miura, but $1,325,000 incl. premium was a good price for a typical P400 S that had been traded round the world and repainted many times.

Another Lamborghini that sold well was the 1967 350 GT. A nice enough example, it went for $758,500 gross, $35k above top estimate.

It was a conventional ‘live’ sale but the internet provided buyers of several lots. These included the smart gold Ferrari 330 GT 2+2 Mk II ($472,500 gross) and the Ferrari Dino 246 GTS, a red, US-spec car that went well for $511,000. Bids from the internet did, though, have the effect of slowing proceedings and slightly cramping master auctioneer Charlie Ross’s usually flowing style.

The final figures are yet to come in, but it’s looking like a strong overall result for the Californians. Average price per car is up compared with 2019, a generally lacklustre Monterey Week; more than a quarter of cars beat top estimate, a figure we’ve not seen at Pebble for a company known for its strong estimates since K500’s launch in 2014.

Gooding at Pebble Lodge, 14 August 2021 – provisional results

Gross: $44,267,060
Number of cars not sold: 8
Number of cars withdrawn: 0
Total number of cars: 72
Number sold: 64
Percentage cars sold by number: 89%
Percentage of cars met or sold below low estimate: 52%
Percentage of cars sold below avge of estimates: 63%
Percentage of cars sold met/exceeded top estimate: 28%
Average price of cars sold: $691,673
Average year of cars offered: 1953
Percentage of cars offered at No Reserve: 49%

With thanks to Hammer Price

Photos by K500