Gooding & Company hosts record-breaking $129 million Pebble Beach sale

Joes Garage

Joes Garage

2016-08-23 11:10:31

Gooding & Company has hosted the biggest two-day sale in its history, scoring a stunning $129.8 million at the annual Pebble Beach Auction in California.

The company's flagship sale saw 115 classic automobiles snapped up by collectors from around the world, for a sell-through rate of 83% and an average value of $1,128,606 per car.

Topping the sale was a historic 1959 Ferrari 250 GT LWB California Spider Competizione described as "quite possibly the ultimate open 250 GT".

With a race history that included a 5th place finish at the 1960 12 Hours of Sebring, along with campaigns at Bahamas Speed Week, the Ferrari was offered with impeccable provenance and sold for $18.15 million.

It was one of four cars to achieve a price in excess of $10 million during the weekend. Also entering the eight-figure club were a 1960 Ferrari 250 GT SWB Berlinetta Competizione which sold for $13,500,000; a 1933 Alfa Romeo 8C 2300 Monza which realized $11,990,000; and a 1932 Bugatti Type 55 Roadster originally driven by Jean Bugatti himself which fetched $10,400,000, making it the world's most expensive Bugatti ever sold at auction.

(Images: Gooding & Company)

(Images: Gooding & Company)

The two-day sale, held in conjunction with the Pebble Beach Concours d’Elegance, also saw a remarkable 26 cars sold for more than $1 million each.

Most notable amongst these was the 1979 Porsche 935 driven by Paul Newman at the 1979 24 Hours of Le Mans, in which the Hollywood star-turned-racing driver achieved an impressive 2nd place overall, which sold for $4,840,000.

There were also new auction records for a 1957 Maserati A6G/54 Spider which sold for $3,300,000, and a 1930 Packard 734 Speedster Runabout which sold for $2,090,000.

"To break $129 million in just two days is astounding and speaks to this year’s distinguished offering. Our clients recognize that we carefully curate our auctions to showcase the highest quality," said David Gooding, President and Founder of Gooding & Company.

"We appreciate their patronage and support, as we achieved our most successful sale to date. I look forward to seeing all of you in 2017."

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