September 29, 2022

Linkage Mag

Geared for the Automotive Life

Five to Watch at Gooding & Company’s London Auction

Image: Matt Howell; copyright and courtesy of Gooding & Company

The team at Gooding & Company is making a quick pivot from a highly successful Monterey sale to its next auction in London. The one-day auction will take place this Saturday, September 3 at Hampton Court Palace, and is held in conjunction with the 2022 Concours of Elegance at Hampton Court Palace which runs from September 2 to 4.

Gooding’s list of consignments in London is packed with historic and pristine automotive gems. Here are five worth keeping an eye on:

Image: Mathieu Heurtault; copyright and courtesy of Gooding & Company

Lot 18 — 1960 Ferrari 250 GT SWB Berlinetta Competizione

Chassis: 2021 GT

Estimate: £6,000,000–£7,000,000

Built for use at the 24 Hours of Le Mans, the Ferrari sold to famed Luigi Chinetti — then as chassis number 1931 GT — whose North American Racing Team drove the car to fifth overall and second in class at Le Mans in 1960. After being returned to the Ferrari factory and given its new identity, 2021 GT passed through the hands of various owners and would be used in vintage racing events before the current owner had it restored. The process, which began in 2013, was carried out by Ferrari Classiche and Lanzante Limited.

Examples of 250 GT SWBs have been sparse at auctions the past three years. One of the last sold was a 1962 street version sold by RM Sotheby’s in Monterey in 2019. That car sold for $8,145,000. The £7m high estimate converts to $8.1m using the current conversion rate. Despite the chassis number change by Ferrari in-period, this car has everything going for it — the competition spec, Le Mans history and a recent restoration by some of the best. And based off the strong results coming out of Monterey, this could end up being the latest of the many notable Ferrari sales.

Image: Matt Howell; copyright and courtesy of Gooding & Company

Lot 10 — 1965 Aston Martin DB5 Convertible

Chassis: DB5C/1906/R

Estimate: £1,250,000–£1,750,000

Regardless of the overall health of the Aston market, the iconic DB5 will always be near the top, especially when it is one of the 123 convertible examples. This car was delivered new in RHD configuration with a 5-speed transmission to actress Beryl Reid. The DB5C’s second owner purchased it in 1973 and would keep it for the next 37 years. The Aston Martin Works Service department restored the car in 2010 and 2011, and under new ownership in 2012, it was later painted again in Gabiano Blue and the interior re-trimmed in beige leather. The Aston is being sold with service and restoration records, registration documents, DB5 instruction books and original log book.

It has been several years since a DB5 convertible has traded hands for under $1m, and that doesn’t seem poised to change anytime soon. $1.1m to $1.5m seems to be the average range of the previous DB5Cs sold, but there are some outliers that have brought much more. One sold last year in Monterey for almost $3.2m and Broad Arrow Auctions just sold another at its inaugural auction in Monterey this year for over $2.4m. The sale of this example by Gooding will provide a good snapshot of where the market is for these rare Aston Martins in late 2022 .

Image: Matt Howell; copyright and courtesy of Gooding & Company

Lot 20 — 1952 Frazer Nash Le Mans Replica

Chassis: 421/100/159

Estimate: £700,000–£900,000

Don’t let the word “replica” in the name fool you, this is the real deal and one of only 34 factory-built Le Mans Replicas produced. Light and nimble, the model was one of the greatest performers of the era, and this example offered by Gooding & Co. is said to be regarded as one of the most authentic remaining. The car’s first owner raced it in several competitions in the U.K. and it was later a part of Abba Kogan’s collection for some 40 years. Circa 2005, the car was given a mechanical restoration before resuming race duties at various historic events. The current owner has driven it in the Le Mans Classic, Mille Miglia Storica and Goodwood Revival, among others.

The most recent sale of a similar example looks to be all the way back in 2016 at Bonhams’ Goodwood Revival auction where one sold for £603k. Though that car had more racing history in the early 1950s it was also crashed and rebuilt in-period. The fact that the Gooding example appears to be more original just might help it blow past £600k and within estimate.

Image: Matt Howell; copyright and courtesy of Gooding & Company

Lot 23 — 1932 Bugatti Type 55 Cabriolet

Chassis: 55230

Estimate: £3,750,000–£4,750,000

As if a Type 55 Bugatti wasn’t special enough, the one offered by Gooding & Company is further distinguished as having custom coachwork by Gangloff. Almost half of the 38 Type 55 chassis were bodied with coachwork by Jean Bugatti, the others spread among other companies including Vanvooren and Figoni. A unique touch requested by the first owner of this car was that the top be made of Rexine. Recently restored by Classic Motor Cars Ltd. and Ivan Dutton Ltd., a black Rexine top was fitted as was original upon delivery in 1932. Today, the car also retains its matching-numbers mechanical components and original Gangloff cabriolet body.

There have been a fair number of Bugattis at auction this year, and many of them have sold. Interestingly, the one Type 55 roadster offered in Monterey this year was one of the few that did not find a buyer. To find a sold example we must go back to the Bonhams Amelia Island auction in 2020, when another Jean Bugatti roadster realized $7.1m. Like this Gooding Type 55, that car also retained its original components, though it did have some notable ownership history as once having been owned by the well-known Rothschild family.

Will the unique and custom Gangloff body send this example to those same heights in London?

Image: Mathieu Heurtault; copyright and courtesy of Gooding & Company

Lot 15 — 1965 Alfa Romeo Giulia TZ

Chassis: 10511AR*750081*

Estimate: £1,000,000–£1,200,000

Alfa Romeo and Zagato were both forces on their own but when partnering on cars like the Giulia TZ, the results were breathtaking. The first two owners of chassis 750081 were residents of Ascoli Piceno, Italy. Those owners entered the car in races, including the 1965 Ascoli Colle San Marco and the Gran Premio del Mugello in 1968 and 1969. First restored in 1984, a later owner had the TZ’s engine and transmission rebuilt by GPS Classics and cosmetic work completed by Carrozzeria Quality Cars. Importantly, the car is still fitted with its original engine.

There was a four-year dry spell without any TZs showing up on auction dockets until last year. The Gooding car will be the third to appear since 2021. The other two offerings are split, with one having sold last year for $923k and the other going unsold at auction earlier this year. Even before the years-long gap of no TZs offered, selling one successfully across the auction block was far from a sure thing. But when a deal was put together, they sold near $1m, just like the car in 2021.

With this car’s exceptional documentation and original engine, there is no reason it shouldn’t break into the seven-figure range like other great TZs.

View the full catalog of cars at Gooding & Company’s London sale here

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