Gooding & Company breaks world record for the highest sale total of in automotive auction history with $113.7 million in two days

Gooding & Company breaks world record for the highest sale total of in
automotive auction history with $113.7 million in two days

Top two sales of the concours week over $11 million each

Average price per car sold is $1,033,966

110 of 123 lots sold resulting in a 89% sale rate

This year’s Pebble Beach Auctions attracted an unprecedented level of demand and
interest from all over the world

PEBBLE BEACH, Calif. (August 20, 2012) — Gooding & Company, the official auction house of the Pebble Beach Concours d’Elegance and acclaimed for selling the world’s most significant and valuable collector cars, realized more than $113.7 million at its Pebble Beach Auctions over the weekend. The auction total is an outstanding achievement and a world record sales total for an automotive auction. The impressive results exceed Gooding & Company’s 2011 Pebble Beach total by more than $35 million. A complete list of prices realized is available on Goodingco.com.

The von Krieger Special Roadster sold for a world-record $11,770,000 at 2012 Gooding & Company's Pebble Beach Auctions.
Image copyright and courtesy of Gooding & Company. Photo by Mike Maez.

Twenty-four collector cars sold in excess of $1 million, highlighted by the summit of the weekend on Sunday evening when the von Krieger Special Roadster, a 1936 Mercedes-Benz 540 K, sold for ... a double world record for a Mercedes-Benz and a pre-war car at auction. The previous evening, a 1960 Ferrari 250 GT LWB California Spider sold for $11,275,000, realizing a world record for a Ferrari California Spider.

The record-breaking 1960 Ferrari 250 GT LWB California Spider Competizione sold for $11,275,000 at Gooding & Company's 2012 Pebble Beach Auctions. Image copyright and courtesy of Gooding & Company. Photo by Mike Maez.

“There continues to be differentiation in the market between the best and everything else and I believe that our success stems from our understanding of quality in all categories,” says David Gooding, President and Founder.  “Our record-breaking results and this year’s unprecedented international interest in our auction clearly demonstrate the growing demand in high-level classic cars among new collectors and emerging markets.”

 Pictured from left to right: Chief of Staff of the United States Army General Raymond Odierno, New Owner, Secretary of Defense Leon Panetta, Jay Leno with the 2012 Fiat 500 Prima Edizione sold to benefit the Fisher House. Image copyright and courtesy of Gooding & Company. Photo by Eric Fairchild.

Amid the multi-million dollar auction records, a charitable spirit was high.  On Saturday evening, Jay Leno surprised the audience by making a special guest appearance with David Gooding and Auctioneer Charlie Ross on stage and auctioning his personal 2012 Fiat 500 Prima Edizione to benefit the Fisher House Foundation. United States Secretary of Defense the Honorable Leon Panetta and Chief of Staff of the United States Army General Raymond Odierno joined Leno to introduce the nationally praised four-star, non-profit organization that provides a wide range of services and support to the families of wounded American solders.  The first-edition Fiat 500, valued between $25,000–$35,000 according to the auction estimate, realized an extraordinary final price of $385,000 and attracted an additional $215,000 of charitable contributions, resulting in $600,000 in fundraising for the foundation. From the William A.C. Pettit III Collection, 12 vehicles sold Saturday, realizing more than $4 million total benefiting Shriners Hospital for Children®–Tampa.  Including these results, Gooding & Company has auctioned off more than $30 million in collector cars over the years benefiting charities that impact various causes and foundations around the world.

Ferrari was a big part of the weekend with eight models between 1953–1962 selling above $2 million each. A significant offering for enthusiasts, the Sherman M. Wolf Collection of four exceptional cars resulted in a total of $21.5 million in sales.  Of the collection, the 1960 Ferrari 250 GT LWB California Spider Competizione attracted the most demand selling for $11,275,000, which was also the second most valuable car sold of Pebble Beach auction week. On Sunday, the 1957 Ferrari 250 GT LWB California Spider Prototype sold for $6.6 million.

“I’ve never seen so many people at an auction,” says Auctioneer Charlie Ross. “The atmosphere on both nights was electric. Will I ever sell a car as beautiful as that von Krieger Special Roadster again? I hope so.”

Gooding & Company’s top 24 results from both Saturday and Sunday auctions are as follows:

1936 Mercedes-Benz 540 K Special Roadster; $11,770,000 (lot 123)
1960 Ferrari 250 GT LWB California Spider Competizione; $11,275,000 (lot 49)
1957 Ferrari 250 GT LWB California Spider Prototype; $6,600,000 (lot 137)
1955 Ferrari 857 Sport; $6,270,000 (lot 109)
1928 Bentley 4 ½ Litre Le Mans Sports “Bobtail”; $6,050,000 (lot 20)
1964 Ford GT40 Prototype; $4,950,000 (lot 113)
1953 Ferrari 340 MM Spider; $4,730,000 (lot 50)
1957 Ferrari 500 TRC; $4,510,000 (lot 51)
1953 Jaguar C-Type; $3,725,000 (lot 37)
1959 Maserati Tipo 61 Birdcage; $3,520,000 (lot 146)
1960 Porsche RS60; $3,465,000 (lot 28)
1932 Daimler 40/50 Double Six Sport Saloon; $2,970,000 (lot 139)
1962 Ferrari 400 Superamerica Coupe Aerodinamico; $2,365,000 (lot 34)
1929 Duesenberg Model J Dual Cowl Phaeton “Blue J”; $1,980,000 (lot 12)
1955 Maserati A6G/2000 Berlinetta; $1,650,000 (lot 23)
1963 Mercedes-Benz 300 SL Roadster; $1,595,000 (lot 66)
1936 Bugatti Type 57 Atalante; $1,485,000 (lot 136)
2003 Ferrari Enzo; $1,430,000; (lot 18)
1972 Lamborghini Miura P400 SV; $1,375,000 (lot 116)
1938 Bugatti Type 57C Stelvio; $1,292,500 (lot 121)
1919 Miller TNT; $1,210,000 (lot 31)
2008 Bugatti Veyron; $1,182,500 (lot 64)
1955 Mercedes-Benz 300 SL; $1,127,500 (lot 151)
1985 Ferrari 288 GTO; $1,045,000 (lot 48)

Gooding & Company achieved 21 world records over the weekend:

The 1936 Mercedes-Benz 540 K Special Roadster (lot 123) at $11,770,000
A double world record for a Mercedes-Benz at auction and for a pre-war car at auction.    

The 1960 Ferrari 250 GT LWB California Spider Competizione (lot 49) at $11,275,000
A world record for a Ferrari California Spider at auction.

The 1955 Ferrari 857 Sport (lot 109) at $ 6,270,000
A world record for a Ferrari 857 Sport at auction.

The 1928 Bentley 4 ½ Litre Le Mans Sports “Bobtail” (lot 20) at $6,050,000
A world record for a Bentley 4 ½ Litre at auction.

The 1953 Ferrari 340 MM Spider (lot 50) at $4,730,000
A world record for a Ferrari 340 MM at auction.               

The 1953 Jaguar C-Type (lot 37) at $3,725,000
A world record for a Jaguar C-Type at auction.

The 1959 Maserati Tipo 61 Birdcage (lot 146) at $3,520,000
A world record for a Maserati Tipo 61 Birdcage at auction.

The 1960 Porsche RS60 (lot 28) at $3,465,000
A world record for a Porsche RS60 at auction.

The 1962 Ferrari 400 Superamerica Coupe Aerodinamico (lot 34) at $2,365,000
A world record for a Ferrari 400 Superamerica at auction.

The 1955 Maserati A6G/ 2000 (lot 23) at $1,650,000
A world record for a Maserati A6/2000 at auction.

The 1963 Mercedes-Benz 300 SL Roadster (lot 66) at $1,595,000
A world record for a Mercedes-Benz 300 SL Roadster at auction. 

The 2003 Ferrari Enzo (lot 18) at $1,430,000
A world record for a Ferrari Enzo at auction.

The 1985 Ferrari 288 GTO (lot 48) at $1,045,000
A world record for a Ferrari 288 GTO at auction.

The 1930 Packard 734 Speedster Phaeton (lot 35) at $975,000
A world record for a Packard 734 at auction.

The 1976 Lamoborghini Countach LP400 “Periscopica” (lot 147) at $660,000
A world record for a Lamborghini Countach at auction.

The 1968 Toyota 2000 GT (lot 114) at $627,000
A world record for a Toyota at auction.

The 1967 Ferrari 330 GTC (lot 68) at $550,000
A world record for a Ferrari GTC at auction.

The 1962 Maserati 3500 GT (lot 122) at $236,500
A world record for a Maserati 3500 GT at auction.

The 1973 Porsche 911 S 2.4 Coupe (lot 153) at $214,500
A world record for a Porsche 911 S 2.4 Coupe at auction.

The 1959 Mercedes-Benz 190 SL (lot 155) at $203,500
A world record for a Mercedes-Benz 190 SL at auction.

The 1952 Hudson Hornet Four-Door Sedan (lot 112) at $178,750
A world record for a Hudson Hornet at auction.

About Gooding & Company
Gooding & Company, internationally celebrated for its world-class automotive auctions, provides unparalleled service in the collector car market, offering a wide range of services including private and estate sales, appraisals and collection management.  In the past two years, Gooding & Company has realized the most prestigious automotive record in the world for a Car Sold at Auction with the iconic 1957 Ferrari 250 Testa Rossa Prototype at $16.39 million.  The auction house has realized extraordinary results thus far in 2012 at its annual Scottsdale Auctions in January with more than $39.8 million in sales and 98% sold, and its annual Amelia Island Auction in March with more than $36 million in sales and 91% sold. Gooding & Company will conduct its 2013 auctions on January 18 and 19 in Scottsdale, Arizona, on March 9 in Amelia Island, Florida and August 17 and 18 in Pebble Beach, California.

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CONTACT:

Katie Hellwig
Gooding & Company
(310) 526-0584
Katie@goodingco.com