Press Release

Gooding & Company Sets Multiple Auction Records in 2020, Sells the Top Two Cars of the Year, Introduces Geared Online Auctions

The 1934 Bugatti Type 59 Sports became the highest selling car in 2020 and the most expensive Bugatti ever sold at public auction.

Santa Monica, Calif. (December 29, 2020) - Gooding & Company, the auction house acclaimed for selling the world’s most significant and valuable collector cars, totaled more than $125 million across all auctions in 2020. This year, the company obtained a strong 91% sales rate with 568 lots sold, and 27 cars selling above the $1 million mark. Gooding & Company also sold five of the top ten most valuable cars sold across all auction houses in 2020 including the top two single car sales, the 1934 Bugatti Type 59 Sports and the 1937 Bugatti Type 57S Atalante. In a year of many firsts for the auction house, Gooding & Company expanded its selling platform by conducting its first auction outside of the US (the Passion of a Lifetime auction), and introducing a new online only auction platform, Geared Online. Additionally, the company set a new auction world record for the highest per car average sale at a single auction – £2,432,064 / $3,229,294 – at the Passion of a Lifetime sale. Gooding & Company also held the highest average sale price of $332,420, excluding automobilia, for online auctions in its industry, further underscoring the company’s reputation for selling at the upper echelon of the collector car market.

“This year certainly presented challenges, but it opened the door for Gooding & Company to create new opportunities to maintain our connection with our automotive community and enthusiasts around the world,” states David Gooding, President and Founder of Gooding & Company. “We held our first-ever UK sale which set many new records and developed our online auction platform that has been met with market acclaim. We are looking forward to 2021, full of optimism for successful online and in-person events.”

Bugattis commanded the market in 2020, with the renowned auction house’s top sales consisting of the 1934 Bugatti Type 59 Sports selling for £9,535,000 / $12,681,550, a 1937 Bugatti Type 57S Atalante selling for £7,855,000 / $10,447,150, and a 1928 Bugatti Type 35C Grand Prix achieving a final price of £3,935,000 / $5,233,550. All three cars sold at the Passion of a Lifetime auction, the company’s first entry into live international auction sales.

Top Ten Lots Sold at Auction in 2020

  • 1934 Bugatti Type 59 Sports, sold for £9,535,000 / $12,681,550

  • 1937 Bugatti Type 57S Atalante, sold for £7,855,000 / $10,447,150

  • 1928 Bugatti Type 35C Grand Prix, sold for £3,935,000 / $5,233,550

  • 1971 Lamborghini Miura P400 SV Speciale, sold for £3,207,000 / $4,265,310

  • 1955 Aston Martin DB3S, sold for £3,011,000 / $3,998,005

  • 1995 Ferrari F50, sold for $3,222,500

  • 1966 Ferrari 275 GTB Long Nose, sold for $3,080,000

  • 1932 Hispano-Suiza J12 Dual Cowl Phaeton, sold for $2,425,000

  • 1914 Rolls-Royce 40/50 HP Silver Ghost Torpédo Phaeton, sold for $2,205,000

  • 1948 Tucker 48, sold for $2,040,000

Notable World Auction Records in 2020 (model specific)

  • 1934 Bugatti Type 59 Sports, sold for £9,535,000 / $12,681,550

  • 1937 Bugatti Type 57S Atalante, sold for £7,855,000 / $10,447,150

  • 1928 Bugatti Type 35C Grand Prix, sold for £3,935,000 / $5,233,550

  • 1971 Lamborghini Miura P400 SV Speciale, sold for £3,207,000 / $4,265,310

  • 1932 Hispano-Suiza J12 Dual Cowl Phaeton, sold for $2,425,000

  • 1924 Vauxhall 30-98 OE-Type Wensum, sold for £1,247,000 / $1,658,510

  • 1976 Porsche 934, sold for $1,380,000

  • 1970 Porsche 914/6 GT, sold for $995,000

  • 1998 RUF Turbo R, sold for $676,000

  • 1924 Lancia Lambda 3rd Series Torpédo, £391,000 / $519,169

  • 1930 Stutz Series M Boattail Speedster, sold for $445,000

  • 1990 Mercedes-Benz 190E 2.5-16 Evolution II, sold for $434,000

  • 1997 Land Rover NAS Defender 90 Limited Edition, sold for $165,200

The Scottsdale Auctions, January 17-18

  • $35,867,560 million in total sales

  • Eight cars sold over $1 million

  • 123 of 138 lots sold

Gooding & Company’s 13th annual Scottsdale auction posted an impressive 89% sell-through rate, with an average of $291,606 per car sold. The auction house led the market during Arizona Auction Week in total sales, highest average price, most cars sold over $1,000,000, and realized five of the top ten sales for the week. Ferrari represented four of the top ten sales with the 1995 Ferrari F50 reaching the highest price sold at $3,222,500 to become the most valuable car sold at Arizona’s auction week across all companies. The company also attained a new world record for the 1970 Porsche 914/6 GT at $995,000, smashing the previous record. Friday’s sale brought a thrilling surprise when enthusiastic bidding for the 1937 BMW 328, a prewar car with no reserve and 75 years of single-family ownership, ultimately sold for $830,000. Saturday saw the 1932 Hispano-Suiza J12 Dual Cowl Phaeton sell for an auction world record at $2,425,000 while the incredibly original 1948 Tucker 48 sold for $2,040,000. Lastly, the 1967 Ferrari 330 GTS achieved a final price of $1,985,000.

The Amelia Island Auction, March 6

  • $20,785,080 million in total sales

  • Three cars sold over $1 million

  • 83 of 89 lots sold

At the Amelia Island Auction in March, Gooding & Company realized over $20 million in a single day, and achieved the highest sell-through rate of 93% across all auction houses. One of the most exciting offerings was the 1914 Rolls-Royce 40/50 HP Silver Ghost Torpédo Phaeton by Kellner, which received raucous applause when auctioneer Charlie Ross dropped the hammer for a final price of $2,205,000. Supercars had their fair share of success as well, with an extremely rare 1969 Lamborghini Miura P400 S making waves and selling for $1,435,000. Additionally, the impeccable 2019 McLaren Senna brought $978,500, and the 2017 Ford GT realized $967,500. The most significant sale from the German marque, the immaculate 1976 Porsche 934, set a new auction world record price of $1,380,000 on stage.

Passion of a Lifetime Auction, September 5

  • £34,048,900 in total sales

  • Eight cars sold over £1 million

  • 14 of 15 lots sold

  • Top two selling individual lots of 2020

  • Six new world auction records

  • World auction record set for the highest average price per car at an auction, £2,432,064

Gooding & Company launched its first-ever international sale, “Passion of a Lifetime,” on September 5th. The company’s UK sale saw 14 of the collection’s 15 lots sold with eight cars realizing over £1 million. A new auction world record for the highest average price per car was set at £2,432,064, along with six new auction world records. The 1934 Bugatti Type 59 Sports became the most valuable Bugatti ever sold at auction for £9,535,000. The second of three Bugattis, a beautifully preserved Type 35C Grand Prix, sold for £3,935,000. The 1937 Bugatti Type 57S Atalante served as the grand finale for the collection, achieving £7,855,000. In total, the company garnered £34,048,900 from the highly anticipated auction event. Additionally, the sale resulted in Gooding & Company selling the top two individual car lots of 2020.

Geared Online Auctions – August and October Totals

  • $23,781,474 in total sales

  • Eight cars sold over $1 million

  • 106 of 143 lots sold

The introduction of the online only auction platform this year marked a new milestone for Gooding & Company. The inaugural Geared Online sale, held on August 3–7, delivered a carefully curated selection of collector cars as well as an array of automobilia. Ferraris stole the show, taking home the top five sales. The 1966 Ferrari 275 GTB Long Nose saw bidding placed up until the very last minute before ultimately selling for $3,080,000, becoming one of the most valuable cars sold online. The company’s offering of automobilia did not disappoint, with several lots smashing their pre-auction estimate. Luigi Chinetti’s North American Racing Team sign sold for $51,250, while a rare 1950s Ferrari factory perpetual calendar found a new home after reaching a final sale price of $17,500. In total, the sale garnered $14,497,443, with five vehicles selling over $1 million.

At the second Geared Online auction, which ran from October 26–30, a diverse lineup of classic and modern cars and automobilia brought in over $9 million in sales with three lots selling over the $1 million mark. The 1956 Maserati A6G/54 Spider garnered $1,892,000, becoming the most valuable car sold at the five-day sale. Mercedes-Benz and Ferraris rounded out the highest sales with the 1964 Ferrari 250 GT Lusso selling for $1,430,000, and a flawless 1957 Mercedes-Benz 300 SL Gullwing saw bidding placed up until the very last seconds, before ultimately selling for $1,254,000. The company’s selection of automobilia on offer saw an exceptional 100% sell-through rate, with the 1990 Claude Botin 250 Testa Rossa Child’s Car sparking a thrilling bidding war, ending with a final price of $30,625.

Geared Online – The Phil Hill Automobilia Collection, November 30 to December 11

  • $268,151 in total sales

  • 100% sell-through rate

Gooding & Company has sold over $500,000 in automobilia across its three Geared Online sales this year. The online only format presented an opportunity for incorporating automobilia into the otherwise largely automotive-only auctions. Building from the two previous Geared Online sales, the company conducted the Phil Hill Automobilia Collection to great success from November 30 to December 11. The first of three sales dedicated to one of the world’s most recognized and accomplished racing drivers, Phil Hill, saw an immensely successful 100% sell-through rate from 242 lots. The sale achieved over its pre-auction estimate total, with the star lot, a circa 1950s Ferrari perpetual calendar, selling for $19,375. Two additional Phil Hill automobilia auctions will begin in February and March, 2021.

2020 Private Treaty Sales

With live auctions impacted by the ongoing pandemic, Gooding & Company’s private sales have remained as prevalent and successful as ever. With an unmatched team of specialists who have decades of combined private brokerage experience, the auction house sets the standard for connecting sellers and buyers in discreet private transactions.

Looking Forward to 2021

Gooding & Company expects to see a continued demand for the most respected marques and models and will continue to offer the rarest and the highest-quality cars to its large and growing global community of collectors and enthusiasts. The auction house plans to conduct both live, in-person, as well as online only sales throughout the year. The company’s annual Scottsdale Auctions will shift to its Geared Online platform and will run from January 18-22. Early highlights feature a desirable 1966 Ferrari 275 GTB Long Nose and a Bertone-bodied 1954 Aston Martin DB2/4 Drophead Coupe.

With the launch of its market-defining UK event, the auction house gained a foothold for future sales, including its upcoming Geared Online The European Sporting & Historic Collection from 28 January to 5 February 2021. Highlights from this private, nine-car collection include an alluring 1967 Ferrari 275 GTB/4, and a show-stopping 1961 Aston Martin DB4 GT. Rounding out the first quarter for Gooding & Company are two remaining Geared Online Phil Hill Automobilia Collection sales; February 8-19 and March 15-26.