At first glance, the offer that Gooding & Company wanted to auction off on March 4, 2022 in Amelia Island seemed rather unbalanced. Cars with Porsche, BMW or Ferrari badges made up almost two thirds of the lot list. But if you took a closer look, you realized that there was no shortage of attractive vehicles from other brands either.
The total value of the cars was estimated at USD 72.5 million, with 48 percent of the lots going under the hammer without a reserve price. The sales quota at the well-attended auction was ultimately 92 percent with 91 cars sold, with each car fetching USD 672,065. The cars were driven up and presented on stage.
While the average bid was 96% of the median estimate, individual bids ranged from 38% to 160% of the median estimate, with just over two-fifths of the cars achieving top bids at or above expectations.
Valuable water drop from Talbot
The most expensive car in the auction was one of the oldest cars. With its aerodynamic bodywork by Figoni et Falaschi, which gave it the name "Goutte d'Eau" or "Teardrop", the 1937 Talbot-Lago T150-C-SS is one of the most beautiful cars in history. With concours participations in the period, a category win at Pebble Beach and the "Best of Show" award at Amelia Island, chassis 90107 was one of the most sought-after cars at the auction, which was certainly documented by its estimated value of "at least USD 10 million".
The bidders took a similar view and although the auctioneer whispered at USD 9.1 million that he could now sell the car, the bids continued to rise to USD 12.2 million in an epic bidding battle. This not only set a new world record for one of these Talbot-Lago water droplets, but also ensured enthusiastic applause from the audience. USD 13.425 million (EUR 12.217 million, CHF 12.351 million) was quoted as the selling price including surcharge/commissions.
Auctioneer Charlie Ross proved that, despite the success, the humor had not been lost when he wanted to call the following Toyota Land Cruiser with a starting price of USD 10 million.
Young cars in front
Although the Talbot-Lago, a pre-war car, achieved the highest price at the Gooding auction on Amelia Island, cars built before 1940 tended to struggle overall. Only four of the seven cars were sold, and the highest bids were well below expectations.
The cars from the fifties fared much better, and the sixties also did reasonably well.
However, things really took off with the vehicles from 1970 onwards, which were completely sold out and the highest bids exceeded expectations on average, as the following table shows:
| Decade | No. of cars |
Bid vs. estimate | Sales quota | |
|---|---|---|---|---|
| 30s | 7 | 78% | 57% | |
| 50s | 18 | 87% | 89% | |
| 60s | 20 | 91% | 90% | |
| 70s | 18 | 100% | 94% | |
| 80s | 7 | 101% | 100% | |
| 90s | 12 | 109% | 100% | |
| 20xx | 17 | 104% | 100% |
Of course, the success of the young cars was also due to the fact that the proportion of "no reserve" offers was particularly high at over 62%. But prices also leveled off at a considerable level.
The buyer paid USD 123,200 for a Porsche 968 from 1993 (not a Clubsport), while a Porsche 993 Carrera 2S from 1997 fetched USD 207,200.
German manufacturers at the top
Porsche topped the brand statistics with 33 vehicles on offer, followed by BMW (11) and Ferrari (incl. Dino, 11). Mercedes-Benz was represented with six cars, the other brands with one to three cars, including exotic manufacturers such as Sunbeam, Bizzarrini, Osca and Allard.
All of the Porsche and BMW cars were sold, with the highest bids for the cars from Zuffenhausen being at the estimated value level, while they were 17% higher for the BMW!
Two exotic brands fared badly. All three Packard and both OSCA remained unsold, the highest bids did not exceed around 70 % on average and were not sufficient for a successful knockdown.
Almost complete M3 collection sold at top prices
Five BMW M3s were auctioned off at Gooding on March 3, 2022, starting with two M3s from the E30 series, followed by an E36 and an E46. Even a late M3 from 2013 was up for grabs, especially in the special Lime Rock Park Edition.
The highest bids were on average 25 percent above the median estimate, with one buyer paying USD 151,200 (EUR 137,592, CHF 139,104) for a 1988 M3 E30. The E36 M3 from 1995 cost USD 72,800 (EUR 66,248, CHF 66,976), while the E46 M3 from 2001 went for USD 106,400 (EUR 96,824, CHF 97,888).
The high-flyer among the BMWs, however, was a 1974 2002 tii equipped with a roof rack, which found a new owner for USD 100,800 (EUR 91,728, CHF 92,736), while the two 503 and 507 V8 convertibles from the 1950s sold for handsome prices, but below expectations.
This was also the case with the 2002 BMW Z8, but with a sales price of USD 307,500 (EUR 279,825, CHF 282,900), there should be no regrets, even if the high (!) estimate of USD 275,000 to 350,000 was missed.
Super sports car continues its upward trend
USD 2.45 million (EUR 2.23 million, CHF 2.26 million) was the price of the Ferrari F40 from 1991 with a four-digit mileage display and US delivery history.
USD 2.01 million (EUR 1.83 million, CHF 1.85 million) had to be invested for a Porsche Carrera GT from 2005.
And the RUF Turbo R Limited from 1998 even exceeded its estimated value and was sold for USD 2.04 million (EUR 1.86 million, CHF 1.88 million).
19 cars sold for more than one million
Almost exactly a quarter of the cars were valued at over one million USD, 19 of which were ultimately sold for seven-figure sums.
In addition to the cars already mentioned, the list also included a 1954 Bentley R-Type Continental Fastback (USD 2.975 million), a 1959 Porsche 718 RSK (USD 2.975 million) and the 1967 Toyota Shelby 2000 GT (USD 2.535 million).
Carroll Shelby prepared three Toyota sports cars for use in the SCCA Championship in the 1960s. Chassis MF10-10001 was also the first Toyota 2000 GT from series production and therefore probably one of the most important Japanese cars ever. However, the car never ended up on the road, so it was offered as a racing car. However, the estimated value of USD 2.75 to 3.5 million could not quite be realized.
Impressive line-up of 911 racing cars
The Porsche 911 was also used on race tracks early on, but it was not until the 1970s that things really took off with the 2.7 RS, 3.0 RSR, 934 and 935 models. Gooding was able to offer at least one example of all these cars, and two of the 935 even went under the hammer.
Although the estimated values were not achieved in all cases, the prices achieved nevertheless impressively documented the great interest in these cars.
For example, the 911 Carrera 3.0 RSR IROC from 1974 sold for USD 1.628 million, the two 935s from 1979 for USD 1.463 and 1.765 million.
A 2.7 RS Lightweight from 1973 was not missing either, for which USD 973,000 (EUR 885,430, CHF 895,160) was invested.
The 1970s racing cars were complemented by various more recent GT2 and GT3 models, as well as an extensive selection of road-going sports cars from the long history of the 911.
Mention should also be made of the Porsche 904/6 from 1965, which, although below expectations, was sold to a new enthusiast for USD 2.2 million.
Of course, there were also many super classics
There is never a shortage of valuable collector's classics at Gooding, and the Amelia Island auction was no exception.
An early 195 Inter Ghia Coupé from 1951 by Ferrari, for example, was on offer, but apparently the bidders didn't really bite. At USD 640,000, the battle was already over and the car was unsold.
The 275 GTB from 1965 fared better, finding new hands for USD 1.215 million, even if the estimate was not reached.
And for a 1967 Ferrari 330 GTS, USD 2.095 million was invested, while a 330 GT 2+2 changed hands for USD 302,000.
Most of the super classics were sold at prices just below expectations, with exceptions proving the rule.
With a sales rate of 92% and a turnover of USD 66.5 million, Gooding & Co achieved an excellent result.
The bidders followed the purchase price recommendations in most cases; the only significant downward deviations were for some restoration objects and the 1963 Bentley S3 Continential Saloon, which was sold for just USD 58,800 instead of USD 125,000 to 150,000.
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 01 | Porsche 356 A Super Coupe | 1956 | 100'000 | 130'000 | 60'000 | 67'200 | 61'824 | 61'152 | -41.57%
|
V |
| 02 | Porsche 356 A Super Convertible D | 1959 | 140'000 | 180'000 | 100'000 | 112'000 | 103'040 | 101'920 | -30%
|
V |
| 03 | Alfa Romeo 2000 Spider | 1959 | 80'000 | 110'000 | 105'000 | 117'600 | 108'192 | 107'016 | +23.79%
|
V |
| 04 | Aston Martin V8 Vantage Coupe | 2013 | 90'000 | 120'000 | 95'000 | 106'400 | 97'888 | 96'824 | +1.33%
|
V |
| 05 | Ferrari 330 GT 2+2 | 1967 | 250'000 | 300'000 | 270'000 | 302'000 | 277'840 | 274'820 | +9.82%
|
V |
| 06 | Porsche 993 Carrera 4S | 1998 | 125'000 | 150'000 | 130'000 | 145'600 | 133'952 | 132'496 | +5.89%
|
V |
| 07 | BMW 2002 tii | 1974 | 55'000 | 65'000 | 90'000 | 100'800 | 92'736 | 91'728 | +68%
|
V |
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
