Gooding sells over $150 Million from All Auctions, Once Again Sells Top Two Cars of the Year

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Photo Credit: Mike Maez

Santa Monica, Calif. (December 29, 2021) — Leading international auction house Gooding & Company is proud to conclude the year with an impressive report of successful growth and performance. Through seven Geared Online digital auctions and the anticipated return to the live auction stage with the market-defining Pebble Beach Auctions, the company realized a total exceeding $150 million in sales, reporting an incredibly profitable year after the global instability of 2020. Indicating steady growth, Gooding & Company sold a total of 1,044 lots, achieving an 88% sell-through rate for all vehicles auctioned, and an astounding 100% sell-through rate for all automobilia. Additionally, the auction house sold 36 cars valued over $1 million. Notably, its average price per car sold this year was an industry-leading $608,014.

Photo Credit: Mike Maez

Building upon the previous year’s expansion and development, Gooding & Company excelled further with a number of Geared Online auctions, both in the US and the UK, offering both highly valuable, prized collector cars, and rare automobilia from the collections of famed racing driver Phil Hill as well as renowned collectors Donald L. Weber and Stephen P. Dean. The auction house cemented its global standing this year by announcing a long-term sponsorship of the Concours of Elegance in London, where it will return in September 2022 to conduct a sale held on the exquisite grounds of Hampton Court Palace.

“After the immense challenges and uncertainties of the pandemic, this year bore witness to the strength and resilience of the collector car market, and auction houses like ours came out stronger than ever by maneuvering through unprecedented times with innovation, integrity, and adaptability,” said Gooding & Company President and Founder, David Gooding. “We saw the strong demands of the market unfold in front of our very eyes this year, especially at our record-setting Pebble Beach Auctions. In 2022, we look forward to further delivering our proven company standard with the utmost agility and attentiveness. We are proud to continue expanding our offerings both in the live auction and digital realms, and are especially delighted to become a consistent presence in the UK going forward.”

Gooding & Company made global headlines with the sale of the most valuable car at auction of 2021 with the 1995 McLaren F1 that set a new record for the model at $20,465,000 at Pebble Beach in August. As the most valuable car sold across all global auction houses by a large margin, the F1 was followed by yet another impressive sale by the renowned auction house at Pebble Beach, the 1959 Ferrari 250 GT LWB California Spider Competizione, which achieved $10,840,000. Additionally, the company set numerous world auction records with examples from Bugatti, Lamborghini, Ferrari, and Mercedes-Benz, and continued to achieve top figures from the sales of Duesenberg, Aston Martin, and Ford vehicles.

Top Ten Lots Sold at Auction in 2021:

  • 1995 McLaren F1, sold for $20,465,000
  • 1959 Ferrari 250 GT LWB California Spider Competizione, sold for $10,840,000
  • 1929 Bugatti Type 35B Grand Prix, sold for $5,615,000
  • 1958 Ferrari 250 GT Series I Cabriolet, sold for $4,405,000
  • 1930 Duesenberg Model J Disappearing-Top Convertible Coupe, sold for $3,965,000
  • 1961 Aston Martin DB4 GT, sold for £2,750,000
  • 1967 Ferrari 275 GTB/4, sold for $3,662,500
  • 1967 Ferrari 275 GTB/4 Alloy, sold for $3,586,000
  • 1969 Ford GT40, sold for £2,508,000
  • 1961 Aston Martin DB4 GT, sold for $3,305,000

Notable World Auction Records in 2021 (model specific):

  • 1995 McLaren F1, sold for $20,465,000
  • 1929 Bugatti Type 35B Grand Prix, sold for $5,615,000
  • 1914 Stutz 4E Bearcat, sold for $2,920,000 (also marque specific)
  • 1992 Ferrari F40, sold for $2,892,500
  • 1968 Lamborghini Miura P400, sold for $1,902,500
  • 1926 Bugatti Type 37 Grand Prix, sold for $935,000
  • 1972 Citroën SM Land Speed Racer, sold for $203,500
  • 1980 Mercedes-Benz 300 SD, sold for $156,800
  • 1968 Meyers Manx, sold for $101,200

Geared Online Scottsdale Edition, January 11-22

  • $7,092,031 in total sales
  • 80% sell-through rate
  • 39 of 49 lots sold

The auction house initiated 2021 with its first inaugural Geared Online Scottsdale Edition event, achieving $7,092,031. Several treasures from Bugatti, Ferrari, and Aston Martin amassed the auction’s top sales, and the leading spot went to a noteworthy 1966 Ferrari 275 GTB Long Nose which achieved $1,936,000. The 1926 Bugatti Type 37 Grand Prix sold for $935,000, leading a strong new year of sales by setting the world record price at auction for a Bugatti Type 37. The online-only January sale expanded on the introduction of the Geared Online series in 2020, and displayed the continuation of remarkable engagement through the digital platform at a time when face-to-face interaction was not possible.

Geared Online The European Sporting & Historic Collection, January 28 – February 5

  • £8,453,500 in total sales
  • 100% sell-through rate
  • 9 of 9 lots sold

In February, the auction house reached yet another milestone with the thrilling Geared Online sale of the European Sporting & Historic Collection, which was the company’s second-ever UK sale and the first Geared Online with viewing in the UK. A carefully curated selection of prestigious blue-chip classics attained a 100% sell-through rate, achieving £8,453,500. Two of the nine total presented lots, a stunning 1961 Aston Martin DB4 GT which sold for £2,750,000, and a 1967 Ferrari 275 GTB/4 which sold for £1,870,000, yielded figures well above £1 million.

Geared Online Phil Hill Automobilia Collection (2nd and 3rd Installments), February and March

  • $1,328,475 in total sales
  • 100% sell-through rate
  • 498 lots sold

Between its highly successful online-only automotive auctions in the first two quarters of the year, Gooding & Company hosted the second and third installments of the Geared Online Phil Hill Automobilia Collection, where it presented the remainder of significant automobilia lots from racing legend Phil Hill after the inaugural sale in November 2020. These sales featured one-of-a-kind collector items, such as the Herbert Johnson racing helmet worn by Phil Hill himself, and a Rolex “Zenith” Daytona watch from his incredible estate. The second installment in February brought in a total of $1,156,156, achieving a 100% sell-through rate. The final event of the three-part auction series concluded in March by realizing a total figure of $172,319.

Geared Online, May 3-7

  • $16,202,500 in total sales
  • 97% sell-through rate
  • 84 of 87 lots sold

May of this year was a pivotal moment for the Geared Online series as the company presented its most successful online-only auction to date. 84 of the 87 automotive lots consigned were sold, culminating in an impressive 97% sell-through rate and posting an astounding $16,202,500. Five of the presented lots achieved figures well over $1 million, and the top sale was a gorgeous 1967 Ferrari 275 GTB/4 Alloy, which sold for a handsome amount of $3,586,000. Another remarkable highlight of this Geared Online event was the presentation of a time capsule, “barn-find” condition 1955 Ferrari 250 Europa GT, which realized $2,222,000. The auction also presented blue-chip enthusiast favorites, such as the 1957 BMW 507 Series II, which sold for $2,200,000, and a 1961 Mercedes-Benz 300 SL Roadster, which achieved $1,232,000. A more modern collector’s favorite was the 2015 Porsche 918 Spyder, which raked in a total selling price of $1,144,000.

Geared Online, June 11-18

  • £5,259,650 in total sales
  • 86% sell-through rate
  • 12 of 14 lots sold

The company continued to further its presence both in the international realm and the digital auction world with yet another Geared Online event in June, this time with viewing in the UK. Select offerings yielded a total of £5,259,650 in sales, and achieved an 86% sell-through rate. The sale was led by a powerful 1969 Ford GT40 that made headlines as the last GT40 ever produced by Ford, and the captivating example reached £2,508,000 at auction. As the third UK-based auction in less than a year, the strong performance of this Geared Online helped secure Gooding & Company’s presence abroad. It also set the stage for future international sales, especially an upcoming auction in London that will take place in September 2022 in conjunction with the Concours of Elegance at Hampton Court Palace.

Pebble Beach Auctions, August 13-14

  • $107,045,410 in total sales
  • 87% sell-through rate
  • 115 of 132 lots sold
  • Top two most valuable cars sold at auction in 2021
  • Average price of $930,829 per lot
  • 24 cars sold over $1 million
  • 6 new world auction records

The highlight of the company’s year, and of virtually the entire collector car market, was undoubtedly the highly anticipated return to Pebble Beach for Gooding & Company’s signature auctions. The official auction house of the Pebble Beach Concours d’Elegance® once again delivered a top-of-the-line, unparalleled experience for devoted attendees, reminding everyone of the Gooding & Company standard for consistent distinction and market-defining performance. The auction house set six new world records over the course of its two-day sale on Friday, August 13 and Saturday, August 14, and achieved an incredible $107,045,410 in total sales. Gooding & Company captured global attention Friday evening with the top two auction sales of the entire year: the record-setting 1995 McLaren F1, which sold for $20,465,000, and the 1959 Ferrari 250 GT LWB California Spider Competizione, which raked in $10,840,000.

Saturday afternoon also proved eventful with the sale of a 1929 Bugatti Type 35B Grand Prix, which set a new world record at auction for the model by achieving $5,615,000. The Type 35B Grand Prix was also exhibited at the Concours d’Elegance on Sunday, where it was awarded the Chairman’s Trophy. The 1914 Stutz 4E Bearcat became the most valuable Stutz to ever be sold at auction, achieving a high figure of $2,920,000. The sleek 1968 Lamborghini Miura P400 also set a new world record at auction by bringing in $1,902,500 –– the highest price ever achieved by a Miura P400. Gooding & Company upended the market with the surprising sale of a 1980 Mercedes-Benz 300 SD, which set a new world record at auction for the model by achieving triple the estimated value at $156,800. In addition to these extraordinary world records and historic values, Gooding & Company had the honor of presenting incredible automotive offerings from the notable collections of Neil Peart, Donald L. Weber, and Stephen P. Dean during the Pebble Beach Auctions.

Geared Online Fall Automobilia

  • $239,656 in total sales
  • 100% sell-through rate

The company’s Geared Online Fall Automobilia sale built upon its foray into curated automobilia auctions, and achieved a successful 100% sell-through rate with 287 lots sold and a total figure of $239,656 achieved. Lots were offered from key collections, including the Donald L. Weber and Stephen P. Dean collections, and the top sale was the Bell Star XF-GP Twin Window Racing Helmet worn by Jacky Ickx which garnered $26,875.

2021 Private Treaty Sales
Throughout the year, Gooding & Company continued to broker discreet private sales in all segments of the collector car market, including sales of some of the world’s greatest and most valuable automobiles from Ferrari, Bugatti, Porsche, Mercedes-Benz, McLaren, and more. In addition to its expertise in auction sales, the company remains a leading authority on the entire collector car market and a trusted resource for serious collectors worldwide.

Looking Forward to 2022
After yet another strongly successful year, Gooding & Company is confident that its combination of live auctions, online events, and automobilia sales in 2022 will continue its tradition of providing exceptional customer service and consignments of unparalleled status and distinction. The company will kickstart the new year with its second consecutive Geared Online Scottsdale Edition taking place from January 24-28, paired with an exclusive viewing for registered bidders in Scottsdale. Early highlights of the sale include a 1961 Maserati 5000 GT, as well as a 1963 Lancia Flaminia Sport, 1970 Maserati Ghibli 4.9 SS, and a 1964 Porsche 356 C Carrera 2 Coupe.

This will be followed by the company’s exciting return to Florida for its signature Amelia Island Auction, set to captivate motoring enthusiasts eager to see the most thrilling vehicles, including a 1998 RUF Turbo R Limited, cross the auction block on Friday, March 4. A dedicated Geared Online Automobilia event will take place shortly thereafter in early spring from March 28 – April 8 and feature key items of motoring memorabilia. In the late summer, Gooding & Company will surely make impactful market moves, first as the official auction house of the Pebble Beach Concours d’Elegance® at its Pebble Beach Auctions on August 19-20, and then at its London Auction held during the Concours of Elegance at Hampton Court Palace on September 3.

Geared Online Scottsdale Edition
Online Catalogue Available: Tuesday, January 18
Auction Begins: Monday, January 24, 9:00 AM MST
Lots Begin Closing: Friday, January 28, 10:00 AM MST
Viewing: Wednesday, January 26 to Friday, January 28 in Scottsdale, Arizona
Viewing Location: Scottsdale Hangar One, 15220 North 78th Way, Scottsdale, AZ 85260
Website: www.goodingco.com
Facebook: www.facebook.com/GoodingandCompany
Twitter: @goodingandco #GearedOnline #GoodingScottsdale #ScottsdaleAuctions
Instagram: @goodingandcompany #GearedOnline #GoodingScottsdale #ScottsdaleAuctions
YouTube: www.youtube.com/user/GoodingandCompany
Phone: 310.899.196

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