Bidding fireworks at the Gooding & Co auction in Pebble Beach 2014
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Summary
There was a full house, high prices and some real surprises at Gooding & Co when 122 vehicles were auctioned over two evenings in Pebble Beach. 88% of the offers were sold, on average over 8% above the already confident estimated prices. This is probably only possible in America ... This auction report analyzes the results of the Gooding event and lists all offers in detail.
This article contains the following chapters
- Very good sales result
- Surprisingly expensive classics
- No interest, prices too high?
- Tough conclusion
- Results in detail
Estimated reading time: 6min
Preview (beginning of the article)
Nobody had expected classic car prices to start tumbling at Pebble Beach, but the fact that they are continuing to rise like this is still a surprise for some market observers. However, if you take a closer look, you will also recognize a certain resistance to overly high expectations. Gooding sold 107 vehicles (or 88%) over two evenings on the Pebble Beach weekend of August 16/17, 2014, with purchase prices totaling USD 106 million (€ 79.5 million, CHF 90 million) including commission. On average, each car sold at 108% of the median estimate, i.e. slightly more expensive than expected. On the very first evening, one car surprised with a truly unexpectedly high closing price. The early Lamborghini Countach LP400 from 1974 was worth USD 1.87 million (€ 1.402 million, CHF 1.702 million) to one bidder, almost three times as much as the estimate. This is probably a new record for a Countach and even good Miuras fall by the wayside at this price level.
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