(L-R) David Gooding and Charlie Ross sell the 1959 Ferrari 250 GT LWB California Spider for $18,150,000. Image copyright and courtesy of Gooding & Company. Photo by Mike Maez.
Gooding & Company, the official auction house of the Pebble Beach Concours d’Elegance, realized more than $76.7-million during the first of its two-evening Pebble Beach auction event on Saturday August 20, 2016.
The auction house, acclaimed for its world-class consignments and record-breaking prices, delivered an 88 per cent sales rate as 70 of 80 lots were sold for an astounding average price of $1,096,664 per car.
The market trend for highly-sought after cars from renowned marques such as Ferrari, Porsche, Lamborghini and Packard were confirmed as new world auction records were broken. This included the illustrious 1959 Ferrari 250 GT LWB California Spider Competizione (sold for: $18,150,000), the 1960 Ferrari 250 GT SWB Berlinetta Competizione (sold for $13,500,000), the 1950 Ferrari 166 MM Berlinetta (sold for $5,445,000), the 1979 Porsche 935 (sold for $4,840,000) driven by Paul Newman at the 1979 24 Hours of Le Mans, the Nocciola copper metallic gold Ferrari 275 GTB/4 (sold for $3,245,000), the Lamborghini Miura P400 SV (sold for $2,255,000) and the world-record setting 1930 Packard 734 Speedster Runabout (sold for $2,090,000).
Lots sold for more than $1-million from the Saturday sale:
Lot 33 – 1959 Ferrari 250 GT LWB California Spider Competizione, sold for $18,150,000
Lot 56 – 1960 Ferrari 250 GT SWB Berlinetta Competizione, sold for $13,500,000
Lot 68 – 1950 Ferrari 166 MM Berlinetta, sold for $5,445,000
Lot 60 – 1979 Porsche 935, sold for $4,840,000
Lot 40 – 1967 Ferrari 275 GTB/4, sold for $3,245,000
Lot 22 – 1971 Lamborghini Miura P400 SV, sold for $2,255,000
Lot 30 – 1930 Packard 734 Speedster Runabout, sold for $2,090,000
Lot 35 – 1955 Lancia Aurelia B24S Spider America, sold for $2,007,500
Lot 48 – 1961 Maserati 5000 GT Coupe ‘Indianapolis’, sold for $1,677,500
Lot 14 – 1955 Mercedes-Benz 300 SL Gullwing, sold for $1,430,000
Lot 19 – 1988 Porsche 959 Komfort, sold for $1,320,000
Lot 45 – 1994 Porsche 964 Turbo 3.6 S Flachbau, sold for $1,100,000
Lot 54 – 1914 Marmon 41 Speedster, sold for $1,017,500
Gooding & Company’s Pebble Beach Auctions continued on Sunday, August 21. Entries in the Sunday sale included the perennial 1933 Alfa Romeo 8C 2300 Monza (estimate: $12,000,000-$15,000,000), the Ettore Bugatti-owned 1932 Bugatti Type 55 Roadster (estimate $10,000,000-$14,000,000), the 1962 Ferrari 250 GT SWB Berlinetta (estimate: $10,000,000-$12,000,000) and the Bertone-bodied 1954 Aston Martin DB2/4 Spider (estimate: $3,000,000-$4,000,000).