Gooding auction posts big numbers at Amelia Island

Ferrari California Spyder sells for more than $17 million at Gooding | Bob Golfen photo
Ferrari California Spyder sells for more than $17 million at Gooding | Bob Golfen photo

If you had any doubts about how the classic car market has moved in the last few years, consider this from Hagerty, the insurance and car valuation tracking company: In 2011, Gooding & Company’s Amelia Island auction sold 70 car for $17.9 million. Friday, Gooding sold at 1961 Ferrari 250 GT California SWB Spider for $17.16 million, and did another $22.2 million when its sold 17 of entertainer Jerry Seinfeld’s much anticipated 18-car consignment.

Gooding’s overall sales total for the day, according to Hagerty’s preliminary figures, was $58.8 million, some $22 million more than its record 2012 sale at the same location.

Friday was the second day of the Amelia Island sales and, Hagerty noted, continued the momentum established Thursday by Bonhams.

Also selling cars Friday was Hollywood Wheels.

“Relative newcomers to the auction scene, its all-Porsche event saw sales slow significantly from last year, though a burst of after-sale activity is expected to lift totals much higher,” Hagerty reported of the Florida-based company.

And, Hagerty’s daily report noted, “Seinfeld Porsches and Cal Spiders aside, not all sales were strong. A restored 1977 Toyota FJ40 at Gooding fell below expectations to trade at $63,800, and a 1989 Porsche 930 coupe sold at $129,250. Both sales continue a trend of leveling prices for those models.

“Looking at the combined results of Bonhams and Gooding, cars in the $250,000 to $1,000,000 range have seen the lowest sell-through rates of any price bracket, and pre-war cars have been slower to sell than other segment,” the Hagerty report continued.

RM Sotheby’s enters the fray Saturday.

In the meantime, listed below are raw results witnessed by Hagerty personnel during the live auctions and do not include any post-sale transactions. The figures do, however, include buyer’s premiums.

Amelia Island auction results through Friday

Overall from all auction companies
Cumulative total: $88.0 million
148/219 lots sold: 68 percent sell-through rate
Average sale price: $594,262

2015 Cumulative results through Friday for comparison
Cumulative total: $48.5 million
183/212 lots sold: 86 percent sell-through rate
Average sale price: $264,809

Overall Top 10 Sales from all auctions through Friday
1. 1961 Ferrari 250 GT California SWB Spider (closed headlight), $17,160,000 (Gooding & Company)
2. 1937 Bugatti Type 57SC Sports Tourer, $9,735,000 (Bonhams)
3. 1955 Porsche 550 Spyder Roadster, $5,335,000 (Gooding & Company)
4. 1966 Ford GT40 Mk I Road Coupe, $3,300,000 (Gooding & Company)
5. 1973 Porsche 917/30 Can-Am Spyder, $3,000,000 (Gooding & Company)
6. 1937 Mercedes-Benz 540K Cabriolet A, $2,970,000 (Bonhams)
7. 1959 Porsche 718 RSK Roadster, $2,860,000 (Gooding & Company)
8. 1967 Ferrari 275 GTB/4 Coupe , $2,750,000 (Bonhams)
9. 1931 Duesenberg Model J Murphy Convertible Coupe, $2,640,000 (Gooding & Company)
10. 1974 Porsche 911 Carrera 3.0 IROC RSR Coupe, $2,310,000 (Gooding & Company)

Results by auction company

Gooding & Company
Overall Total: $58.8 million
67/79 lots sold: 85 percent sell through rate
Average sale price: $878,166

Top 10 Sales:
1. 1961 Ferrari 250 GT California SWB Spider (closed headlight),$17,160,000
2. 1955 Porsche 550 Spyder Roadster, $5,335,000
3. 1966 Ford GT40 Mk I Road Coupe, $3,300,000
4. 1973 Porsche 917/30 Can-Am Spyder, $3,000,000
5. 1959 Porsche 718 RSK Roadster, $2,860,000
6. 1931 Duesenberg Model J Murphy Convertible Coupe, $2,640,000
7. 1974 Porsche 911 Carrera 3.0 IROC RSR Coupe, $2,310,000
8. 1995 Ferrari F50 Coupe,$2,310,000
9. 1963 Ferrari 250 GT Lusso Coupe, $1,875,000
10. 1990 Porsche 962C Coupe, $1,650,000

2015 overall results
Total: $27.0 million
76/85 lots sold: 89 sell-through rate
Average sale price: $354,830

Hollywood Wheels
Cumulative total through Friday: $1.8 million
18/43 lots sold: 42 percent sell through rate
Average sale price: $100,680

Friday Top 10 Sales:
1. 1976 Porsche 935 Coupe, $297,000
2. 1989 Porsche 911 Carrera Speedster, $205,200
3. 1977 Porsche 911 Carrera Turbo Coupe, $189,000
4. 1967 Porsche 911 S Coupe, $170,100
5. 1989 Porsche 911 Turbo 930 Coupe, $143,100
6. 1978 Porsche 911 Carrera Turbo Coupe, $140,400
7. 1996 Porsche 911 Turbo Coupe , $129,600
8. 1971 Porsche 911 Carrera RS Replica Coupe, $89,640
9. 1986 Porsche 911 Turbo 930 Coupe, $86,400
10. 1964 Porsche 356C Coupe, $78,300

2015 results through Friday
Total: $7.7 million
42/50 lots sold: 84 percent sell-through rate
Average sale price: $183,123

Bonhams
Overall total: $27.3 million
63/97 lots sold: 65 percent sell-through rate
Average sale price: $433,356

Overall Top 10 Sales:
1. 1937 Bugatti Type 57SC Sports Tourer, $9,735,000
2. 1937 Mercedes-Benz 540K Cabriolet A , $2,970,000
3. 1967 Ferrari 275 GTB/4 Coupe, $2,750,000
4. 1933 Maserati 8C 3000 Roadster, $1,001,000
5. 1955 Mercedes-Benz 300SL Gullwing Coupe, $902,000
6. 1960 Maserati 3500GT Vignale Spider, $880,000
6. 1935 Riley MPH Roadster, $880,000
8. 1910 Thomas Flyer Model K 6-70 Phaeton, $825,000
9. 1896 Armstrong Phaeton Gas-Electric Runabout, $462,000
10. 1939 Lagonda V12 Drop Head Coupe, $458,700

Overall 2015 results
Total: $13.8 million
65/83 lots sold: 78 percent sell-through rate
Average sale price: $212,334

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