February 7, 2023

Linkage Mag

Geared for the Automotive Life

Gooding & Co Achieves $212m in Sales in 2022

Gooding & Company sold the pictured 1937 Talbot-Lago T150-C-SS Teardrop Coupe for $13,425,000 at its Amelia Island event, one of the most valuable cars sold at auction in 2022. Photo copyright and courtesy of Gooding & Company. Image by Mathieu Heurtault.

Gooding & Company concludes its second most successful business year to date since its inception in 2003, posting an overall sales total surpassing $212 million realized from all 2022 auctions. 

With its most profitable Amelia Island Auction to date, its largest ever Pebble Beach Auctions offering, and its second live auction event in the UK, coupled with two Geared Online auctions, Gooding & Company sold a total of 597 lots, attaining an 87% sell-through rate for all vehicles auctioned, and an 89% sales rate for automobilia. 

The firm sold 55 cars valued over $1 million, signifying a staggering increase from the year prior. Additionally, the average price per car sold in 2022 was $695,375, a figure which also increased from the previous year.

Continuing its tradition of selling the most valuable cars at auction year after year, Gooding & Company sold three of 2022’s top automotive lots, led by the 1937 Talbot-Lago T150-C-SS Teardrop Coupe which achieved $13,425,000 at the firm’s record-setting Amelia Island Auction in March. Not only was the Talbot-Lago the most valuable car sold during the week, but it also set a new world record for all French automobiles ever sold at auction. 

Gooding & Company’s second top lot of the year was the elegant 1937 Bugatti 57SC Atalante, which sold for $10,345,000 as the star car of the Pebble Beach Auctions in August. Further, upon the firm’s return to the UK as the official auction sponsor and partner of the Concours of Elegance at Hampton Court Palace, Gooding & Company sold its third top lot of the year, the 1960 Ferrari 250 GT SWB Berlinetta Competizione, for £7,762,500 at its London Auction in September. 

“We are incredibly pleased with our overall auction performance throughout 2022, as evidenced by metrics which indicate steady, targeted, and purposeful growth,” said Gooding & Company President and Founder, David Gooding. “By strategically tailoring our offerings for a select number of auction events throughout the year, we were able to witness unprecedented results, particularly at our Amelia Island, Pebble Beach, and London venues. The quality, historical significance, and rarity of the cars we bring to market provide a valuable hedge against greater economic fluctuations, and the prized collector vehicles featured on the Gooding & Company auction stage truly speak for themselves as they set records and reach new benchmarks with each passing year.”   

Top Ten Lots Sold at Auction in 2022:

  • 1937 Talbot-Lago T150-C-SS Teardrop Coupe, sold for $13,425,000
  • 1937 Bugatti Type 57SC Atalante, sold for $10,345,000
  • 1960 Ferrari 250 GT SWB Berlinetta Competizione, sold for £7,762,500
  • 1961 Ferrari 400 Superamerica Series I Coupé Aerodinamico, sold for $6,000,000
  • 2007 Porsche RS Spyder Evo, sold for $5,615,000
  • 1995 Ferrari F50, sold for $4,625,000
  • 1969 Porsche 908/02, sold for $4,185,000
  • 2004 Ferrari Enzo, sold for $4,130,000
  • 1990 Ferrari F40, sold for $3,965,000
  • 1932 Bugatti Type 55 Cabriolet, sold for £2,925,000

Notable World Auction Records in 2022 (model specific):

  • 1937 Talbot-Lago T150-C-SS Teardrop Coupe, sold for $13,425,000 (also a world record for the Talbot-Lago marque and all French cars at auction)
  • 2007 Porsche RS Spyder Evo, sold for $5,615,000
  • 1969 Porsche 908/02, sold for $4,185,000
  • 1990 Ferrari F40, sold for $3,965,000
  • 1994 Bugatti EB110 Super Sport, sold for $3,167,500
  • 1954 Bentley R-Type Continental Fastback, sold for $2,975,000
  • 1967 Toyota-Shelby 2000 GT, sold for $2,535,000 (also a world record for the Toyota marque and all Japanese cars at auction)
  • 1973 Porsche 911 Carrera RS 2.7 Lightweight, sold for $2,425,000
  • 1998 RUF Turbo R Limited, sold for $2,040,000 (also a world record for the RUF marque)
  • 1993 Porsche 964 Carrera RS 3.8 Clubsport, sold for $1,875,000
  • 1965 Alfa Romeo Giulia TZ, sold for £1,181,250
  • 1963 Chevrolet Corvette Z06 Split-Window Coupe, sold for $1,242,500

Geared Online Scottsdale Edition, January 24-28

  • $6,962,450 in total sales
  • 88% sell-through rate
  • 50 of 57 lots sold

Following in the footsteps of its inaugural 2021 Geared Online Scottsdale Edition event, Gooding & Company hosted its second online-only auction during Arizona Automotive Week, realizing a total of $6,962,450 in sales. 

This year, the online auction was coupled with an in-person exclusive viewing of all lots in Scottsdale, Arizona. This hybrid event allowed registered bidders and press members the ability to inspect vehicles in person, while also facilitating an entirely digital auction experience for collectors worldwide. 

The top lot of the auction was a rare Touring-bodied 1961 Maserati 5000 GT Coupe which achieved $924,000. The firm also sold 100% of lots offered from The Richard Donner Collection, featuring 10 cherished classics from the veteran Hollywood filmmaker’s estate. 

Amelia Island Auction, March 4

  • $69,209,480 in total sales
  • 94% sell-through rate
  • 93 of 99 lots sold
  • Average price of $744,188 per lot
  • 20 cars sold over $1 million
  • 7 new world auction records

On Friday, March 4, Gooding & Company conducted its knockout 2022 Amelia Island Auction, which amassed an unprecedented $69,209,480 in sales and became the firm’s most successful event to date throughout its 13-year tenure at the venue. Remarkably, 20 cars sold for figures over $1 million, and the firm set seven new auction world records, including outright marque records for Talbot-Lago, Toyota, and RUF. 

Outperforming all other auction houses at Amelia Island, the top lot of Gooding & Company’s sale and the week in entirety was the 1937 Talbot-Lago T150-C-SS Teardrop Coupe, which became the most valuable French car ever sold at auction when it achieved a gross figure of $13,425,000. Gooding & Company also set the world record for the most valuable Japanese car at auction with the 1967 Toyota-Shelby 2000 GT, which sold for $2,535,000. 

Notably, the firm also sold 100% of its Porsche offerings, which comprised an entire third of its catalogue and included highly prized selections from the collections of Lloyd Hawkins and Rudy “Mr. 993” Mancinas.

Geared Online Spring Automobilia, March 28 – April 8

  • $469,656 in total sales
  • 89% sell-through rate
  • 288 of 324 lots sold

Following its wildly successful Amelia Island Auction, Gooding & Company hosted its Geared Online Spring Automobilia event, featuring a robust variety of motoring themed lots sourced from some of the world’s greatest car collectors. The online-only auction culminated in a $469,656 sales total, with 89% of all lots offered sold. 

The top lot of the sale was the Triple Weber 36DCF3 Carburetor Intake for a Ferrari 166/195/212, which achieved $47,500. Additionally, several rare and original Ferrari Competition Wooden Toolboxes from the early 1950s also sold for $37,500 each.

Pebble Beach Auctions, August 19-20

  • $109,452,370 in total sales
  • 85% sell-through rate
  • 135 of 158 lots sold
  • Average price of $810,758 per lot
  • 28 cars sold over $1 million
  • 5 new world auction records

In August, Gooding & Company returned as the official auction house of the Pebble Beach Concours d’Elegance® to conduct yet another unparalleled event for its 18th annual Pebble Beach Auctions. This year’s two-day event realized a total of $109,452,370 in sales and featured the largest ever catalogue of offerings to date from the renowned auction house. The top lot of the auctions was the 1937 Bugatti Type 57SC Atalante, which sold for $10,345,000. This was followed by the incredibly well-preserved, unrestored 1961 Ferrari 400 Superamerica Series I Coupé Aerodinamico, which achieved $6,000,000. 

Gooding & Company set several new world records at auction with highly collectible and unique Porsches, including a competition proven 2007 Porsche RS Spyder Evo that sold for $5,615,000. A 1969 Porsche 908/02 with competition history at historic races including Brands Hatch, Targa Florio, and Nürburgring also set a new world record at auction for the 908 model, achieving $4,185,000. 

Well-maintained, low-mileage modern supercars performed especially well, as indicated by the 1990 Ferrari F40 which sold for $3,965,000 and eclipsed the previous auction record set by Gooding & Company at its 2021 Pebble Beach Auctions. A 1994 Bugatti EB110 Super Sport also set a new world record at auction for the model, realizing a total price of $3,167,500. 

Additionally, throughout the weekend, the auction house presented a variety of lots from highly notable collections in the world of motoring, including those of the Tony Vincent Estate, William M. Wonder, and Rudy “Mr. 993” Mancinas, as well as the Mark J. Smith and William Maxwell Davis Estates.

London Auction, September 3

  • £22,811,938 in total sales
  • 79% sell-through rate
  • 31 of 39 lots sold
  • Average price of £735,869 per lot
  • 7 cars sold over £1 million

In September, Gooding & Company presented its second-ever UK event, the London Auction, after its inaugural Passion of a Lifetime sale in 2020 and its recently announced appointment as the official auction partner and sponsor of the Concours of Elegance at Hampton Court Palace. The London Auction realized a total of £22,811,938, led by the weekend’s star car, a well-documented 1960 Ferrari 250 GT SWB Berlinetta Competizione which sold for £7,762,500. 

Fittingly just ahead of the 60th anniversary of the Alfa Romeo Giulia, Gooding & Company’s London Auction set a new world record at auction for the model with the sale of a 1965 Alfa Romeo Giulia TZ that achieved £1,181,250. The auction house was grateful to partner with Gregor Fisken, the owner of London-based Fiskens LTD, to present his family’s cherished 1987 Citroën 2CV6 Dolly as a charity lot, with an overall sales figure of £70,000 set for donation to Voices of Children to benefit children and families affected by the war in Ukraine. 

The event also presented exceptional Vintage Bentleys from The Timeless Collection, including an exquisite 1932 Bentley Eight Litre Sports Saloon which sold for £1,096,875.

2022 Private Treaty Sales

In 2022, Gooding & Company continued its tradition of skillfully brokering confidential private sales of some of the world’s most important collector cars and automobilia from marques including Ferrari, Porsche, Mercedes-Benz, Bugatti, and many more. With an extensive network and access to an international pool of buyers and sellers, the auction firm closely monitors all activity in the collector car market, always staying abreast of major transactions in order to remain a competitive and expert resource for clientele worldwide. 

Looking Ahead to 2023

Gooding & Company looks forward to its scheduled auctions for 2023, where it will undoubtedly continue its growth as a market authority and automotive auction powerhouse by consistently yielding unmatched results and bringing only the finest possible offerings to market. 

This March, Gooding & Company will, for the first time ever, hold a two-day sale at its Amelia Island venue. The Amelia Island Auctions will take place on Thursday, March 2, and Friday, March 3. The Thursday evening auction will include select offerings from notable collections, and the Friday daytime auction will present the bulk of the company’s catalogue. The sale will feature the recently announced RUF//The Collection, consisting of four exceedingly rare and one-off masterpieces hand built by the legendary German manufacturer in Pfaffenhausen. 

1964 Ferrari 500 Superfast (Estimate: $2,000,000 – $2,500,000)
Photo copyright and courtesy of Gooding & Company. Image by Mathieu Heurtault.

Gooding & Company’s Amelia Island Auctions will also present a 1964 Ferrari 500 Superfast (Estimate: $2,000,000 – $2,500,000), one of only 28 produced in left-hand drive and the sole example produced in Verdu Scuro, a very dark non-metallic green. This well-documented and exhibited 500 Superfast, chassis 6043 SF, is among the first with the desirable five-speed gearbox, and comes to auction with an exceptional patina and remarkably low mileage. 

Additional early consignments to the Amelia Island Auctions include a sophisticated 1958 BMW 507 Series II (Estimate: $1,600,000 – $1,800,000) and a charming 1955 Mercedes-Benz 300 SL Gullwing (Estimate: $1,500,000 – $2,000,000)

From February 1-5, the California-based auction house will proudly host a display at Rétromobile in Paris, where several star cars from upcoming auctions and private treaty sales will be featured on the Gooding & Company stand. Later in 2023, Gooding & Company will host its 19th annual Pebble Beach Auctions on Friday, August 18 and Saturday, August 19, and will return to the Concours of Elegance at Hampton Court Palace for its London Auction on Saturday, September 2. 

Individuals interested in consigning a vehicle, registering for an upcoming auction, or consulting with a specialist are strongly encouraged to reach out well in advance of scheduled events.

Amelia Island Auctions

Date: Thursday, March 2 and Friday, March 3

Location: Racquet Park, Omni Amelia Island Resort

Public Preview: Thursday, March 2 through Friday, March 3

Auction Catalogues: $75, includes admission for two to the viewing and the auctions

General Admission: $30, includes admission for one to the viewing and the auctions

Live Auction Broadcast: www.goodingco.com 

Facebook: www.facebook.com/GoodingandCompany 

Twitter: @goodingandco #AmeliaIsland #AmeliaIslandAuction #GoodingAmelia

Instagram: @goodingandcompany #AmeliaIsland #AmeliaIslandAuction #GoodingAmelia

YouTube: www.youtube.com/user/GoodingandCompany

Phone: +1.310.899.1960

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