SANTA MONICA, Calif. (October 23, 2017) - Gooding & Company, the auction house acclaimed for selling the world’s most significant and valuable collector cars, achieved more than $155 million for 285 lots sold in 2017 and posted a strong 82% sale rate from the auction house’s three esteemed venues. Collectors responded to the quality and unique offerings as 40 cars sold above the $1 million mark and 42 new world auction records were established. Throughout 2017, Gooding & Company continued its tradition as the Porsche market leader, with over $42 million in sales and an average price of $682,298 for cars of this celebrated marque. Gooding & Company also set a new world record for the most valuable Porsche sold at auction with the 1970 Porsche 917K (sold for $14,080,000) presented at The Pebble Beach Auctions this year, besting the standard it had set in 2015 with the 1982 Porsche 956 (sold for $10,120,000). The auction house now holds seven of the top ten records for most valuable Porsches ever sold at auction.
“We continue to see strong demand for cars that combine all the attributes of rarity, performance, historical significance and provenance,” states David Gooding, President of Gooding & Company. “In this market, we are observing a greater divide between good, better, and best, and clients are increasingly selective with their purchases. This is why we strive to offer only the best examples from a variety of categories of cars and the reason why we see new clients return after each auction event.”
Gooding & Company’s auctions have become a destination for enthusiasts from around the globe, due to the company’s world-class presentation and vibrant atmosphere. "David Gooding and his team consistently offer automotive jewels in auctions that set the bar for the market," stated Robert Ross of Robb Report. The auction house also attracted thousands of viewers from over 60 nations who tuned in to witness the events via the Gooding & Company live HD webcast.
Top Ten Lots Sold in 2017
1966 Ferrari 275 GTB/C, sold for $14,520,000
1970 Porsche 917K, sold for $14,080,000
1998 Porsche 911 GT1 Strassenversion, sold for $5,665,000
1959 Ferrari 250 GT Series I Cabriolet, sold for $4,840,000
1956 Maserati A6G/54 Berlinetta, sold for $4,400,000
2015 Ferrari LaFerrari, sold for $3,520,000
1925 Bugatti Type 35 Grand Prix, sold for $3,300,000
1954 Ferrari 500 Mondial Series I, sold for $3,162,500
1965 Ferrari 500 Superfast, sold for $2,915,000
1958 BMW 507 Series II, sold for $2,750,000
Top Five World Auction Records in 2017 (model specific)
1966 Ferrari 275 GTB/C, sold for $14,520,000
1970 Porsche 917K, sold for $14,080,000
1998 Porsche 911 GT1 Strassenversion, sold for $5,665,000
1956 Maserati A6G/54 Berlinetta, sold for $4,400,000
1925 Bugatti Type 35 Grand Prix, sold for $3,300,000
The Scottsdale Auctions, January 20 & 21, 2017
$33.4 million in total sales
Nine cars sold above $1 million
Nine new world auction records
106 of 126 lots sold
Gooding & Company’s annual Scottsdale Auctions in January realized over $33 million in two days. Nine new benchmarks were set and nine cars sold for over $1 million. The most notable sales were the highly original 1925 Bugatti Type 35 Grand Prix, which achieved a world-record price of $3,300,000, and the stunning 1965 Ferrari 500 Superfast, which realized a strong $2,915,000. Paddles were also flying for rare-to-auction sports cars, with the illustrious 1969 AMC AMX/3 (sold for $891,000) achieving a world-record price for the AMC marque. Additional best-of-category sports cars included the 2011 Ferrari 599 SA Aperta (sold for $1,485,000), a record price for the model, and the 1964 Shelby 289 Cobra (sold for $1,100,00). The 1955 Mercedes-Benz 300 SL Gullwing from single family ownership, which sold for $1,457,500, “could be a preservation-class trophy winner at major concours events,” noted Gary Anderson, The Star.
The Amelia Island Auction, March 10, 2017
$30.6 million in total sales
Nine cars sold above $1 million
13 new world auction records
69 of 88 lots sold
In March, at the Amelia Island Auction held at the Omni Plantation Racquet Park, Gooding & Company realized over $30 million in a single day from 69 lots sold, with nine cars selling for over $1 million. The star of the day, the exotic 1998 Porsche 911 GT1 Strassenversion, sold for $5,665,000, a world record for the model and for the Porsche 911. Thirteen new benchmarks were set among the Porsche, McLaren, Aston Martin and Mazda marques. The striking 2015 McLaren P1 (sold for $2,392,500) was “a centerpiece of the auction festivities,” noted Jeff Perez of Motor1, and also achieved a record-setting price. The P1’s proceeds were pledged to endow a chair at the Rose-Hulman Institute of Technology. Other notable sales included the 1989 Mazda 767B (sold for $1,750,000) that raced at the 1989 24 Hours of Le Mans, and the 1949 Aston Martin DB Mk II (sold for $1,540,000), which was formerly owned by company head David Brown.
The Pebble Beach Auctions, August 18 & 19, 2017
$91.5 million in total sales
22 cars sold above $1 million
20 new world auction records
110 of 135 lots sold
Most valuable Porsche and BMW ever sold at auction
Gooding & Company is the official auction house of the Pebble Beach Concours d’Elegance®, and at this year’s Pebble Beach Auctions, the company achieved over $91 million from 110 lots sold, with an astonishing 22 lots selling at or above the $1 million mark. The new Friday-Saturday auction schedule proved to be a windfall for both buyers and sellers. Attendance and the number of new registered bidders soared, which resulted in 20 new world-record prices, including the most valuable examples of a Porsche and BMW ever sold at auction. The company’s 1970 Porsche 917K realized a record-setting $14,080,000; Brian Silvestro of Road & Track called it “arguably the most iconic 917 of all time. And now, it’s also the most expensive. Fitting.” The star of Saturday’s auction, the 1966 Ferrari 275 GTB/C, is one of only 12 ever built and the ultimate evolution of the single-cam Ferrari Berlinetta. The price illustrated the car’s historical significance and set a world auction record for the model at $14,520,000, furthermore achieving the highest price for the celebrated marque across all auction houses in 2017.
2017 Private Treaty Sales In addition to auctions of distinction, Gooding & Company has orchestrated the private sales of many of the world’s finest rare and exotic automobiles. With decades of brokerage experience, the auction house offers a broad understanding of a collector’s motivation, along with access to an international pool of potential buyers. The company’s approach makes discreet transactions an enjoyable and efficient experience. Throughout 2017, Gooding & Company sold significant examples from the Bugatti, Ferrari, Mercedes-Benz, Alfa Romeo and Porsche marques to exceptional new homes from around the globe. Representative examples of the sales include the highly original 1934 Alfa Romeo 8C 2300 Figoni Cabriolet and an unrestored 1972 Ferrari 365 GTB/4.
Looking Forward to 2018 The prestigious auction house will be conducting its annual Scottsdale Auctions on January 19 and 20, 2018, located at Scottsdale Fashion Square in Scottsdale, AZ. Early highlights include the blisteringly fast 2014 Pagani Huayra (estimate $2,200,000-$2,600,000) that features numerous bespoke options, including exposed carbon fiber bodywork, and is offered with less than 1,000 miles from new. The next Amelia Island Auction will take place on March 9, 2018 in Amelia Island, Florida, and the annual Pebble Beach Auctions will be held August 24 and 25, 2018, inside the gates of Pebble Beach, California.
Still have questions? Contact us!
Fill the form to get in touch with our specialists.
