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Gooding & Co. Pebble Beach sale 2019 review

Gooding & Co., the only official auction house of the Pebble Beach Concours D’Elegance, held its Monterey Car Week 2019 auction at the Equestrian Center in Pebble Beach. A total of 137 cars were offered over the two days of the event, and overall the results were pleasing: 106 cars (77%) were sold, generating a total turnover of USD 76 million, including commission, which was 12% on amounts of up to USD 250 K, and 10% on anything paid beyond this threshold. Fifty-three cars (39%) were offered without reserve; of the 84 cars that instead had a reserve price, 50 (60%) were sold. The event recorded an average sale price of around USD 711 K. In total, seventeen cars topped the one million dollar mark. In detail, nine fetched around 1 million, three 2 million, one 3 million, one 5 million, two 6 million, and one 9 million. The auction’s most expensive lot was a 1958 Ferrari 250 LWB California Spider (chassis #1055 GT), a perfectly restored, matching numbers, Ferrari Classiche-certified early car with covered headlights and a period SCCA racing history, documented by Ferrari historian Marcel Massini. It came under the hammer at USD 9.905 million after a USD 11–13 million estimate (the sale’s highest declared estimate). Instead, the car that recorded the lowest sale price was a 1986 Citroën 2CV Dolly, (chassis #ZF7AZKA00KA176833), offered without reserve with an estimate of USD 35–45 K. 

One highlight among the cars that did particularly well was a 1931 Studebaker Special Indy Car, engine number P-5375, which sold for USD 1,105,000 after an estimate of USD 500–750 K. A remarkable five new world record prices were set during the course of this Gooding & Co sale. 

The six cars we previewed

All six cars chosen for our preview of the Gooding & Co. Pebble Beach 2019 auction changed hands, with four featuring in the Top Ten. Starting with the most expensive of our selection, the 1975 Ferrari 312T (chassis #22) fetched USD 6 million, an amount corresponding to the lower end of its estimated value range (USD 6–8 million). The 1958 Ferrari 250 GT Tour De France Berlinetta by Scaglietti (chassis #0903 GT) sold for USD 5.1 million, just short of its USD 5.5–6 million pre-sale estimate. The 1961 Aston Martin DB4 GT by Carrozzeria Touring (chassis #DB4GT/0130/L) came under the hammer at USD 3.6 million, a price 10% below its lowest estimated value (it had been expected to fetch between USD 4 and 4.5 million). The 1913 Isotta Fraschini Tipo IM (chassis #0451) went for USD 2.6 million after an estimate of USD 3–4 million, in this case falling 13% short of its lowest pre-sale estimate. The 1941 Mercedes-Benz 540 K Cabriolet A by Sindelfingen Karrosserie (chassis #189932), assigned a pre-sale estimate of USD 1.5–2.2, sold for USD 1,297,500, 14% less than its lowest estimated pre-sale value. Finally, the 1938 Tatra T77A Limousine (chassis #35719) sold for USD 412 K, falling a little short of pre-sale estimate of USD 450–650 K while nevertheless setting a new world record for the model at auction. 

The Gooding & Co. Pebble Beach sale Top Ten

1. USD 9,905,000: 1958 Ferrari 250 GT LWB California Spider (chassis #1055 GT). This was the top seller but it failed to reach its pre-sale estimate of USD 11–13 million.

2. USD 6,800,000: 1958 Ferrari 250 GT Serie 1 Cabriolet Pinin Farina (chassis #0789 GT). One of the only 40 built (and one of just five specimens fitted with side vents), this matching numbers car came from just two ownerships in the last 30 years. Well known history. Pre-sale estimate:  USD 7–8 million.

3. USD 6,000,000: “our” 1975 Ferrari 312T.

2. USD 6,800,000: 1958 Ferrari 250 GT Serie 1 Cabriolet Pinin Farina (chassis #0789 GT). One of the only 40 built (and one of just five specimens fitted with side vents), this matching numbers car came from just two ownerships in the last 30 years. Well known history. Pre-sale estimate:  USD 7–8 million.

3. USD 6,000,000: “our” 1975 Ferrari 312T.

5. USD 3,600,000: “our” 1961 Aston Martin DB4 GT

6. USD 2,755,000: 1939 Alfa Romeo Tipo 256 Coupe by Carrozzeria Touring (chassis #915014), developed by Scuderia Ferrari. This car has a documented pre-war racing history, including 1939 and 1940 Mille Miglia appearances. The current body is a one-off design, fitted in 1941. Owned in period by Alfa Romeo historian Angelo Tito Anselmi. Offered with a pre-sale estimate of USD 2.75–3.5 million.

7. USD 2,645,000: 1913 Isotta Fraschini Tipo IM , the last of our six to make it into the Top 10. The price it fetched is a new world record for the model at auction.

8. USD 2,040,000: 1930 Duesenberg Model J Sport Berline by Murphy (chassis #2305). Known as “The Mistress Car”, this is one of the most important Duesenbergs dressed in a one-off body. It boasts a great provenance, a known history, and matching numbers. Pre-sale estimate: USD 2–2.5 million.

9. USD 1,765,000: 1967 Ferrari 330 GTS (chassis #9787). One of 99 built, this car was offered from a 37-year single ownership. Matching numbers, never restored, well preserved and refreshed where necessary. It had been expected to fetch around USD 2–2.4 million.

10. USD 1,710,000: 1993 Porsche 964 Carrera RS 3.8 (chassis #WP0ZZZ96ZPS497102). One of the only 55 built, it was offered with a clock reading of just 4253 km from new, complete with every possible document and in pristine, original condition. Pre-sale estimate: USD 1.5–2 million.

 

A comment

“We continue to achieve our goal of delivering the most exceptional cars to auction. Our tireless efforts to bring only the highest quality cars to Pebble Beach are further reflected in this remarkable weekend of sales and several new auction world records.” David Gooding, President and Founder of Gooding & Company.

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