The Gooding and Company Pebble Beach Auction 2011 was held August 20-21 at the Pebble Beach Equestrian Center in Pebble Beach, California. Gooding’s 7th annual auction, again held in association with the Pebble Beach Concours d’Elegance, saw total sales of $78.18 million and an 84% sell-through rate. The two-day sale achieved a $13.6 million increase from last year with 19 new world records.
“Overall our Pebble Beach Auctions this year were sensational, but the ultimate moments for me were when we broke through two major world records with the Ferrari Testa Rossa Prototype and the Whittell Coupe,” says President and founder David Gooding.”The outstanding $78 million sale proves that the collector car market is alive and well, with considerable strength at the top.”
The two headline consignments at the 2011 Gooding Pebble Beach auction, the 1957 Ferrari 250 Testa Rossa and the 1931 Duesenberg Long Wheelbase Model J Whittell Coupe, both lived up to their lofty expectations and then some.
The opening bid on the Ferrari 250 Testa Rossa appeared to be $5 million, but that was quickly tossed aside for a jaw-dropping first bid of $10 million. Bidding steadily marched towards $14 million, before making the ascent to the final hammer price of $14.9 million, or $16.39 million with commission. Needless to say, the crowd erupted in cheers at the world record price for a car sold at auction.
Then on Sunday evening after the Pebble Beach Concours d’Elegance when the Whittell Coupe, a bespoke 1931 Duesenberg Model J, sold for $10.34 million, a new world record was established for a Duesenberg as well as an American car sold at auction.
Other notable sales included the 1927 Mercedes-Benz S-Type 26/180 Sportwagen at $5,040,000 (post-block), the 1959 Ferrari 250 GT LWB California that brought $3,355,000, the 1963 Shelby Cobra 289 Factory Team Car for a world-record $2,585,000 and the sale of Bentley’s oldest surviving production car, Chassis 3, the 1921 Bentley 3 Litre that sold for $962,500.
Another highlight was the record-breaking $143,000 sale of Sheryl Crow’s 1959 Mercedes-Benz 190 SL benefitting the Joplin [Missouri] Schools Recovery Fund. The crowd attending enjoyed a special appearance by Sheryl Crow, who rode in the car as it was presented on stage, showing her full support by including the last limited-edition Sheryl Crow Signature Artists Gibson guitar, concert tickets and a photo opportunity with the new owner.
Gooding & Company offered 127 automobiles for sale, with 107 finding a new owner, reflecting a 84% sales rate. Total sales volume was $78,181,900, inclusive of buyer’s premiums. The average price per car sold was $730,671. In 2010, Gooding offered 135 automobiles for sale, with 106 finding a new owner, reflecting a 79% sales rate. Total sales volume was $64,592,250, inclusive of buyer’s premiums. The average price per car sold was $609,360.
Gooding & Company Pebble Beach 2011 – Top Fifteen Auction Results
1. 1957 Ferrari 250 Testa Rossa – $16,390,000
2. 1931 Duesenberg Long Wheelbase Model J Whittell Coupe – $10,340,000
3. 1927 Mercedes-Benz S-Type 26/180 Sportwagen – $5,040,000
4. 1959 Ferrari 250 GT LWB California – $3,355,000
5. 1957 Ferrari 410 Superamerica Pinin FarinaSeries II – $2,970,000
6. 1963 Shelby Cobra 289 Factory Team Car – $2,585,000
7. 1953 Ferrari 375 America Vignale – $2,200,000
8. 1953 Siata 208 S Spider – $1,567,500
9. 1932 Alfa Romeo 6C 1750 Series V Gran Sport – $1,540,000
9. 1966 Ferrari 275 GTB Alloy Long Nose – $1,540,000
9. 1932 Duesenberg Model J Dual Cowl Phaeton – $1,540,000
12. 1964 Porsche 904 Carrera GTS – $1,210,000
13. 1954 Fiat 8V Zagato Elaborata – $1,127,500
14. 1972 Ferrari 365 GTS/4 Daytona Spider – $1,025,000
15. 1956 Ferrari 275 GTB – $1,001,000
(See Gooding & Company Pebble Beach 2011 – Complete Auction Results)
[Source: Gooding & Company]
