9 February 2016

Auction Recap: Gooding & Company Scottsdale 2016

Gooding & Company kicked off 2016 with its annual Scottsdale auction, held Jan. 29 and 30. Gross sales from the previous year were down significantly ($43.0M vs. $51.5M in 2015), but that was largely due to fewer lots crossing the block. Sell-through rate was down as well, but the average sale price slipped only slightly by 2 percent. Overall, Gooding accounted for half of the week’s top ten sales.

The auction’s star car was the ex-Briggs Cunningham 1950 Ferrari 166 MM that had been uprated in period by the factory with a 195 S engine. The car had strong interest and sold at $6.49M, including buyer’s premium. A gorgeous 1967 Ferrari 330 GTC Speciale by Pininfarina, one of four built and one of the last classic coachbuilt Ferraris, sold for $3.41M. That special coachwork had a number of interesting design elements including a wrap-around rear window, and its combination of rarity and striking looks elevated it to about four times the going rate of a standard 330 GTC. A trio of modern Ferrari supercars also landed in the top 10 (an Enzo at $2.86M, an F50 at $2.4M, and an F40 at $1.534M).

Prices for other modern Ferraris were strong as well. In particular, a 1996 F355 Spider sold for $121,000, a fiberglass 1976 308 GTB for $357,500, and a 2004 360 Challenge Stradale for $291,500. Other modern cars excelled, too, with a pair of 1997 993s—a Turbo and a Turbo S—selling for $242,000 and $484,000.

Original, preserved cars continued to attract attention. Bidders fiercely competed for a preserved 1966 Jaguar E-type SI 4.2L Roadster, with the winner ultimately paying $385,000 for the privilege of ownership.

Pre-1973 Porsche 911s were abundant in Arizona this week, and prices were softer than recent levels as a result at all of the Scottsdale sales, including Gooding. Most telling perhaps was a 1971 911 S Targa, which sold for $115,500—a price reminiscent of 2014 and a surprise to people who have become used to ever-climbing Porsche prices.

Overall Top 10 Sales:

1. 1950 Ferrari 166 MM/195 S Berlinetta Le Mans sold for $6,490,000
2. 1967 Ferrari 330 GTC Pininfarina Speciale Coupe sold for $3,410,000
3. 2003 Ferrari Enzo Coupe sold for $2,860,000
4. 1929 Duesenberg Model J Dual Cowl Phaeton sold for $2,420,000
5. 1995 Ferrari F50 Coupe sold for $2,400,000
6. 1990 Ferrari F40 Coupe sold for $1,534,500
7. 1959 Mercedes-Benz 300SL Roadster sold for $1,155,000
8. 1955 Bentley R-Type Continental 4.9L Fastback sold for $1,017,500
9. 1948 Alfa Romeo 6C 2500 Super Sport Farina Cabriolet sold for $1,012,000
10. 1955 Alfa Romeo 1900C SS Boano Speciale Coupe sold for $990,000

Gooding’s next auction will be held in Amelia Island, Fla., Mar. 11. Expectations are high as a large selection of Jerry Seinfeld’s cars will be offered, including his excellent 1955 Porsche 550 Spyder.

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