Gooding Amelia Island Auction 2019 – Preview N° 1

‘Porsche special edition’, this could be the subheading of this sale.

With 32 Porsche out of 89 cars offered (plus a Porsche… tractor!), this brand represents almost 36% of all cars offered. Of these, ten come from the collection of Jan Koum, co-founder of Whatsapp (how to explain to Ferdinand Porsche the job of his client?), while two-thirds come from private collectors.

It is therefore easy to understand that it is the auction where the youngest cars are offered, on average the year of production is 1979 – up from 1973 last year.

The great absentees? Cars valued over 2 million dollars. With the sole exception of a Porsche 935, they dropped of the radar this time. This led to a significant decline in the value of the cars offered, from $47.9M to $30.8M (-36%).

But amazingly, both the number and average value of lots offered without qualifications rose by 13% and 5.6% respectively.

The signal is: ‘Values are falling but confidence remains high.’

But now the most interesting lots

In an edition dedicated to Porsche, the signature car, the 911, had to be present. Of the various offers, lot 46 is to be followed closely: a 2011 997 GT3 RS 4.0 with only 160 miles from the Koum collection. As this version is a limited series with specifications never seen again, it is valued $550-625,000, three times more than a normal RS 3.8. Already a collector’s item, it is expected to have a rosy future.

Lot 71 is a great example of how to buy a car, use it and sell it without economic regrets. The 1955 Lancia Aurelia B24S Spider America was purchased by Polish collector Pierre Mellinger in 2014 for $880,000, who, after having restored it (using it in various events), sold it to its current owner who carried out a complete renovation. The car is now worth $1.3-1.6 million.

The Audi Sport Quattro SWB was produced between 1983 and 1984 in 214 units to meet the Group B specifications, which required a production of at least 200 units. Lot 63 dates from 1984 and is one of the 161 in road configuration. With a Kevlar and carbon fibre body and a 306 HP engine, it attracts every rally car enthusiast. It carries a price tag of $450-525,000 and could break the record set two years ago ($484,000), it is the car to buy now and keep.

 

Red means Ferrari, even children know that. So it might seem like a sacrilege to repaint lot 76, a 1963 Ferrari 250 Lusso. Born Smoke Grey, the car is now red, and bringing it back to its original colour could be beneficial to the quotations. Its history is dotted with strange events, from a confiscation by Interpol to the bankruptcy of its subsequent owner (the Ferrari importer for the Netherlands, Fritz Kroymans). If you are not superstitious and have between $1.3 and $1.6 million, it can be a good buy. Buy, paint, resell.

The phenomenon of SUVs now has a transversal following across brands, price ranges and target customers. But for a time, if you didn’t want a Range Rover there was only the Toyota Land Cruiser. The exemplar of 1977 offered in lot 89 has the 4.2 litre gasoline engine (it is therefore a BJ40). After 2010 this model has seen its price rise to almost $150,000, so many have started to restore them to very high standards. Prices have now gone down and this one, restored in 2018, is worth $60-80,000.

Auction Data (2018):

Cars offered (in brackets the 2018 figure): Number 89 (86)
Total minimum estimates: $30,845,000 ($47,910,000)
Average minimum estimate per car: $346,573 ($557,093)
Cars offered without qualification: 58 (51)
Percentage of cars offered without qualification: 65.17% (59.30%)
Average minimum estimates without qualification: $211,983 ($200,686)
Average year of production: 1979 (1973)

Cars with minimum estimate below $100,000: 22 (18)
Between $100,000 and $250,000: 23 (29)
Between $250,000 and $500,000: 27 (15)
Between $500,000 and $1,000,000: 8 (8)
Over $1 million: 9 (16)

Cars in the catalogue by year of production

Cars produced up to 1899: 0
Cars produced 1900-1909: 0
Cars produced 1910-1919: 1
Cars produced 1920-1929: 0
Cars produced 1930-1939: 2
Cars produced 1940-1949: 3
Cars produced 1950-1959: 9
Cars produced 1960-1969: 13
Cars produced 1970-1979: 19
Cars produced 1980-1989: 14
Cars produced 1990-1999: 11
Cars produced 2000-2009: 7
Cars produced 2010-2019: 10

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