Gooding & Co hosted its annual auction during Amelia Island Week on March 8, 2019. Despite 89 cars, the event lasted just one day.
With an average age of just 40 years, the cars were relatively young, which was mainly due to the 17 neo-classics, but also 11 youngtimers.
Porsche in front
It was mainly sports and racing cars from Porsche that dominated the event. 31 Porsches and one Kremer-Porsche represented more than a third of the cars on offer.
The Ferrari contingent was comparatively compact with ten cars, BMW was represented with nine and Mercedes-Benz with seven. The remaining 24 brands had a maximum of three vehicles, including manufacturers that have long since disappeared such as Delahaye, Hudson, Kurtis and Osca.
Two well-known racing cars from Porsche
The 1987 Kremer Porsche 962C took part in Le Mans twice, in 1987 and 1988, finishing 4th and 8th respectively. Now chassis CK6-87 was to find a new owner for USD 1 to 1.25 million.
However, the bidding was somewhat lower, so that the new owner "only" had to fork out USD 1,022,500 (EUR 910,025 or CHF 1,032,725) including surcharge/commission.
The Porsche 935 from 1979, which was one of the last customer 935s with chassis 930 990 0027, was valued significantly higher. The car cost USD 134,963.10 new at the time, now USD 2.55 to 3 million was in demand.
However, no one wanted to bid that much in view of the car's relatively short racing history. So the highest bid of USD 2 million was not enough for a successful sale.
Many road-going Porsche
The range of sports cars from Zuffenhausen that Gooding had put together was wonderfully varied. There was not only a 356 A Speedster or various 911 models, but also a 914, an extremely rare 924 Carrera GTS Clubsport and a Porsche 968, the last incarnation of the Vierzlinder transaxle theme.
Most of these cars sold, albeit often well below the median estimate. The 356 A Speedster from 1958 did not find a buyer; no interested party was willing to offer more than USD 172,500.
It was a similar story for the two Porsche 911 RS 2.7s from 1973, one in light and one in touring configuration. Despite bids of USD 800,000 and 380,000, both RSs were left standing.
Instead, the Porsche 924 Carrera GTS Clubsport from 1981 was sold, although even the selling price of USD 164,200 (EUR 144,536, CHF 164,024) was still well below the estimated value.
The surprise with the thing
They call the VW 181 the VW "Thing" in the USA. An example from 1973 was offered and USD 25,000 to 35,000 was expected.
The bidders took a different view, bidding the car up to USD 48,000, which meant a sale price of USD 53,760 (EUR 47,846 or CHF 54,298), perhaps a new world record.
In the slipstream of the VW 181, a 1959 Fiat 600 Jolly also achieved a very good result. The beach car cost USD 123,200. The warm Florida sun obviously had an influence on buying behavior.
Interesting BMW line-up
Of the ten BMWs on offer, four were from the seventies and one from the sixties. It was actually expected that the oldest car, a rare 1800 Ti/SA from 1965 with chassis number 995197, would fetch a high price.
But nobody wanted to bid more than USD 70,000. Nevertheless, the Ti/SA was sold for USD 78,400 (EUR 69,776 or CHF 79,184), half its estimated value!
One of the BMW 2002 tii from 1974, on the other hand, overshot the mark and found a new owner for USD 56,000 (EUR 49,840 or CHF 56,560).
The two M3 E30s, one as a saloon from 1988 and the other as a convertible version from 1991, were sold for not quite USD 100,000 each.
Rare Abarth
The Abarth 207/A from 1957 was a very early racing sports car by Carlo Abarth. The design was by Giovanni Michelotti, while the technical basis was largely adopted from Cisitalia. Only 10 examples of the 207/A were built; the example on offer was used in races at Sebring, Watkins Glen and Road America, among others.
Chassis 001 was valued at USD 400,000 to 500,000, but was handed over to a new owner for a comparatively reasonable USD 362,500.
The Kurtis Sports Car
The Kurtis Sports Car is hardly known in this country. No wonder, as only 16 cars were built by Frank Kurtis. Chassis KB016 has another special feature, however: it was used in the movie "Johnny Dark", in which Tony Curtis (coincidental similarity of names) also appeared. The car was restored by his son Frank Kurtis, and the elegant car is powered by a Cadillac V8 engine. Estimated at USD 275,000 to 350,000, not too much for a potential concours winner, is it?
In any case, the new owner was able to get his hands on it a little more cheaply, USD 263,200 (EUR 234,248 or CHF 265,832) was enough for the purchase.
Also from the USA and also interesting was the Hudson Commodore Eight as a convertible from Brougham from 1949. The new owner only had to offer 37 percent of the median estimate, which meant a purchase price of USD 51,520 (EUR 45,853 or CHF 52,035).
Two Packards - the oldest and the most expensive
The 1915 Packard Twin Six 1-35 7-Passanger Touring on offer was one of the first V12 cars ever built. It also looked a little like it was that old, as it had never been restored and had not survived the decades without a trace. After all, a matching V12 was still installed and a few decades ago it was still being driven. However, this did not convince the interested parties and so the Packard was released into a new future for just USD 32,480.
However, another Packard, a 734 Speedster Runabout from 1930, was significantly more expensive. The new owner had to pay USD 1,765,000 (EUR 1,570,850, CHF 1,782,650), making the car the most expensive of the auction, just ahead of a Porsche 918 Spyder 85 years younger, which sold for USD 1.49 million.
Many affordable cars
For almost a third of the cars, the highest bid was less than 60% of the median estimate. Given the high proportion of cars that were knocked down without a reserve price, they were often knocked down anyway.
For example, those who had set a budget of USD 40,000 to 50,000 could choose between a 1995 Porsche 968, a 1958 Porsche diesel tractor, a 1974 Ford LTD Country Squire Sation Wagon, a 1964 Rolls-Royce Silver Cloud II Saloon or a 1989 Mercedes-Benz 560 SL. You can't complain about that!
Overall, however, David Gooding was probably not entirely happy with the outcome of the auction. Although a Ferrari 275 GTS from 1965 sold for USD 1.325 million and a 250 GT Lusso for USD 1.226 million, for example, the highest bids at the auction were a comparatively modest 77 percent of the median estimate.
With a total turnover of USD 22 million, the targeted volume of USD 34 million was clearly missed. And many consignors must have been quite unhappy about the prices achieved for their cars.
Offered and Sold Vehicles
The following table lists all offered and sold vehicles with estimated prices, highest bids, and sale prices. The price conversion was made at the exchange rate valid on the auction day. All information is provided without guarantee.
| Lot | Car | Year | USD Est from | USD Est to | USD HP | USD SP | CHF SP | EUR SP | % Est | S |
|---|---|---|---|---|---|---|---|---|---|---|
| 002 | Fiat 500 B Topolino | 1949 | 30'000 | 40'000 | 55'000 | 61'600 | 62'216 | 54'824 | +76%
|
V |
| 003 | Cadillac Sedan DeVille | 1971 | 20'000 | 30'000 | 12'000 | 13'440 | 13'574 | 11'961 | -46.24%
|
V |
| 004 | Porsche 930 Cabriolet | 1989 | 175'000 | 225'000 | 185'000 | 207'200 | 209'272 | 184'408 | +3.6%
|
V |
| 005 | Ford Shelby GT500 Convertible | 2014 | 40'000 | 50'000 | 52'000 | 58'240 | 58'822 | 51'833 | +29.42%
|
V |
| 006 | Mercedes-Benz 560 SEC | 1991 | 80'000 | 100'000 | 70'000 | 78'400 | 79'184 | 69'776 | -12.89%
|
V |
| 007 | Ferrari 512 BBi | 1982 | 275'000 | 350'000 | 230'000 | N | ||||
| 008 | BMW M3 | 1988 | 90'000 | 120'000 | 85'000 | 95'200 | 96'152 | 84'728 | -9.33%
|
V |
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All information is provided without guarantee.
Legend: Column S = Status (V = Sold, N = Not sold, Z = Withdrawn, U = Under reserve)
Est = Estimate, HP = Hammer Price, SP = Sale Price
