Gooding & Co Pebble Beach 2023 - overestimating the market?
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Created on August 21, 2023
, Reading time 4min
Text:
Bruno von Rotz
Photos:
Brian Henniker - Courtesy Gooding & Co
39Josh Hway - Courtesy Gooding & Co
23Mathieu Heurtault - Courtesy Gooding & Co
21Mike Maez - Courtesy Gooding & Co
17Angus Dykman - Courtesy Gooding & Co
4Juan Martinez - Courtesy Gooding & Co
4Anna McGrath - Courtesy Gooding & Co
4Erik Fuller - Courtesy Gooding & Co
3Don Hudson III. - Courtesy Gooding & Co
2Dwan Deppi - Courtesy Gooding & Co
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Summary
Gooding & Co put 165 cars and three motorcycles worth around USD 150 million under the hammer on August 18 and 19, 2023. A sales rate of 78% and a 23% downward deviation in the highest bids compared to the estimated values suggested that the buying mood was not quite as great as hoped. This auction review analyzes the results and shows many of the cars in pictures.
This article contains the following chapters
- Large pre-war share
- Ferrari ahead of Porsche
- Super classics with mixed demand
- Surprises at the top
- Surprises at the bottom
Estimated reading time: 4min
Preview (beginning of the article)
On August 18 and 19, 2023, Gooding & Co auctioned cars and motorcycles over two days at the Pebble Beach Concours d'Elégance. A total of 165 cars (including a baby Bugatti) and three motorcycles worth around USD 150 million went under the hammer. Not quite half were offered without a reserve price, but only 78% of the lots were sold. On average, 77.5% of the median estimate was bid, which was also below expectations. The average age of the vehicles was around 64 years. With 45 cars built before the Second World War, the proportion of pre-war cars was quite high. 82% of them were sold, but on average the highest bid fell short of the median estimate by almost 25%.
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Current Market Prices (Selection)
Coupe, 179 PS, 2965 cm3
Coupe, 178 PS, 2670 cm3
Coupe, 170 PS, 2670 cm3
Convertible, 239 PS, 2953 cm3
Coupe, 235 PS, 2953 cm3
Coupe, 239 PS, 2953 cm3
null, 239 PS, 2953 cm3
Coupe, 220 PS, 2953 cm3
Coupe, 220 PS, 2953 cm3
Coupe, 300 PS, 3967 cm3
null, 319 PS, 4390 cm3
Coupe, 194 PS, 2418 cm3