The auction house achieved $76,824,740 in total sales and a 77 percent sell-through rate.
Gooding & Company, the official auction house of the Pebble Beach Concours d’Elegance, amassed $76,824,740 at the 16th annual Pebble Beach Auctions this past weekend. During the two-day auction event, the company sold 108 out of 140 lots, reaping a 77% sales rate. The average price per vehicle was $711,340 and a total of 17 lots sold at or above the $1 million mark. What’s more, five auction records were established across various marques.
The Gooding & Company Pebble Beach 2019 auction began on Friday evening with several notable sales. The 1913 Isotta Fraschini Tipo IM sold for a world-record price of $2,645,000, the 1930 Duesenberg Model J Sport Berline earned $2,040,000 and the 1991 Porsche 911 by Singer generated $857,500.
The star of the auction on Friday was the 1975 Ferrari 312T, once driven by the legendary Niki Lauda; the vehicle achieved a whopping $6,000,000 sale. The first 312T ever to be sold at an auction was greeted with a standing ovation from the crowded auction tent. When the bidding finished at $6 million, the camera flashes from the lively audience was reminiscent of the 312T’s Grand Prix podium win. The marque also turned heads when the 1958 Ferrari 250 GT LWB California Spider reached a final price of $9,905,000, becoming the highest sale of the weekend for Gooding & Company. Many of these cars, among others, were brand new to the market and skillfully delivered to their new homes.
Saturday’s auction built on all that energy and momentum by setting a new world record for the 1931 Studebaker Special Indy Car. This special vehicle is a three-time Indy 500 entrant and winner of the 1931 Pikes Peak Hill Climb; bidders were battling to win. After several back and forth bids, the car ultimately realized $1,105,000, encouraging loud cheers and acclaim from everyone in attendance.
“We continue to achieve our goal of delivering the most exceptional cars to auction,” says David Gooding, President and Founder of Gooding & Company. “Our tireless efforts to bring only the highest quality cars to Pebble Beach is further represented by a remarkable weekend of sales and several new auction world records.”
Lots Sold Over $1 Million:
Lot 44 - 1958 Ferrari 250 GT LWB California Spider, sold for $9,905,000
Lot 145 - 1958 Ferrari 250 GT Series I Cabriolet, sold for $6,800,000
Lot 31 - 1975 Ferrari 312T, sold for $6,000,000
Lot 33 - 1961 Aston Martin DB4 GT, sold for $3,600,000
Lot 17 - 1958 Ferrari 250 GT Tour de France, sold for $5,100,000
Lot 120 - 1939 Alfa Romeo Tipo 256 Coupe, sold for $2,755,000
Lot 26 - 1913 Isotta Fraschini Tipo IM, sold for $2,645,000
Lot 35 - 1930 Duesenberg Model J Sport Berline, sold for $2,040,000
Lot 160 - 1967 Ferrari 330 GTS, sold for $1,765,000
Lot 46 - 1993 Porsche 964 Carrera RS 3.8, sold for $1,710,000
Lot 151 - 1952 Ferrari 212 Inter Coupe, sold for $1,600,000
Lot 157 - 1965 Ferrari 275 GTB, sold for $1,572,500
Lot 141 - 1955 Mercedes-Benz 300 SL Gullwing, sold for $1,435,000
Lot 13 - 1936 Bugatti Type 57 Atalante, sold for $1,325,000
Lot 163 - 1941 Mercedes-Benz 540 K Cabriolet A, sold for $1,297,500
Lot 39 - 1977 Porsche 934/5, sold for $1,187,500
Lot 115 - 1931 Studebaker Special Indy Car, sold for $1,105,000
New World Auction Records:
Lot 26 – 1913 Isotta Fraschini Tipo IM, sold for $2,645,000
Lot 115 – 1931 Studebaker Special Indy Car, sold for $1,105,000
Lot 10 – 1962 Porsche 356 B Super 90 ‘Twin Grille’ Roadster, sold for $610,000 (a world record for the model)
Lot 107 – 1938 Tatra T77A Limousine, sold for $412,000
Lot 118 – 1917 Chalmers Record Speedster, sold for $357,000
2019 Pebble Concours d’Elegance Best of Show:
Winner: 1931 Bentley 8 Liter Gurney Nutting Sports Tourer
Owner: The Honorable Sir Michael Kadoorie