Gooding & Company 2nd Live UK Auction
Gooding & Company held their second live auction in the UK early this month. Held at Hampton Court Palace, Gooding’s London Auction resulted in sales of £22,811,938 – more than $25,000,000. Out of 39 lots on offer, Gooding & Company sold 31 of them reaching a 79% sell-through rate.
The top sale was a 1960 Ferrari 250 GT SWB Berlinetta Competizione that features a documented racing history. The final price of £7,762,500 no doubt contributed to the very high average lot price of £735,869.
Breaking Another Record
Gooding & Company have been breaking lots of records lately and their London Auction didn’t disappoint when a 1965 Alfa Romeo Giulia TZ sold for a new world record price of £1,181,250. That is now the highest price paid at auction for a Giulia TZ and the Zagato coachwork combined with the known and documented competition history certainly helped achieve that price.
Five more cars sold for more than £1,000,000 and a barn find 1956 Porsche 550 Spyder, coming from 40 years of ownership by one family, went for well above the estimated value, selling for a remarkable £2,025,000.
The other car that went for more than £2,000,000 was a 1932 Bugatti Type 55 Cabriolet. Documented ownership history showing only three private owners since 1955 impressed the bidders, not to mention many matching-numbers parts. Although the Type 55 did not achieve the estimated price of £3,750,000 – £4,750,000, we think it went for the right bid and may prove to be well-bought in the coming years.
A white on black 1965 Ferrari 275 GTS, one of just 200 examples produced crossed the block at Gooding & Company’s London Auction. The 275 GTS was still equipped with a matching-numbers engine and transaxle that lead to a selling price of £1,350,000 – decently above the high end of the auction estimate.
Additionally a 1956 Mercedes-Benz 300 SL Gullwing sold for a strong price of £1,125,000 while a 1932 Bentley Eight Litre Sports Saloon closed out the category of £1,000,000+ cars with a strong selling price of £1,096,875 – solidly within the estimate.
Gooding & Company’s next auction will take place online and consist of automobilia from one collector, mainly Bugatti-themed. The auction will start November 7 and run through November 18.