FOR IMMEDIATE RELEASE
Gooding & Company’s Scottsdale Auctions Total More Than $43 Million
Ferraris Shine with the $6.49 million 1950 Ferrari 166 MM/195 S Berlinetta Le Mans
Four New World Auction Benchmarks Established, 86% Sales Rate Achieved
Scottsdale, Arizona (February 1, 2016) – Gooding & Company, the auction house acclaimed for selling the world’s most significant and valuable collector cars, continues to lead the marketplace realizing more than $43 million at the company’s two-day Scottsdale Auctions. The marquee was electric with fervent bidding as President David Gooding and Auctioneer Charlie Ross sold 97 of 113 lots for an 86% sales rate, which resulted in an impressive average price of $443,412 per car sold. Highlights were plentiful, especially surrounding the Ferrari, Bugatti and Alfa Romeo marques. The most notable sale was the splendid coachbuilt 1950 Ferrari 166 MM/195 S Berlinetta Le Mans, setting a new world auction record at $6,490,000.
“We were thrilled to set some new world records for exceptional cars at this weekend’s auctions," exclaimed David Gooding, President and Founder of Gooding & Company. “The demand in the market is definitely high for cars that are the best of their category and never before offered such as the Ferrari 166/195 S Berlinetta Le Mans, the Ferrari 330 GTC Speciale and the Bugatti Type 49. Further impressive results were illustrated by the Ferrari Enzo, the Ferrari F50 and the 1966 Jaguar E-Type. We are seeing collectors pay a premium for cars that are unique because of history, condition and provenance.”
From L-R: President David Gooding and Auctioneer Charlie Ross hammer the winning bid on the 1950 Ferrari 166 MM/195 S Berlinetta Le Mans
Image copyright and courtesy of Gooding & Company. Photo by Jensen Sutta.
Demand for Ferraris from renowned Italian coachbuilders continues to rise, with the most spectacular lot of the weekend being the 1950 Ferrari 166 MM/195 S Berlinetta Le Mans. One of only six examples of the Berlinetta Le Mans, this Ferrari was campaigned in important races by the factory and displayed by Luigi Chinetti at the 1950 Paris Auto Salon. The crowd’s anticipation for each price increase was felt in the air as the bidding war ensued until the hammer finally dropped resulting in a record-setting price of $6,490,000, against a presale estimate of $5,750,000-$6,500,000. Another rousing bidding war was spurred by an additional coachbuilt masterpiece the 1967 Ferrari 330 GTC Speciale setting a new world auction record for a 330 GTC with a final price of $3,410,000.
The audience erupted with applause as the Tony Shooshani Collection took the stage. Highlights from the collection included the 1990 Ferrari F40, which reached a final price of $1,534,500 and the 1995 Ferrari F50 that sold for $2,400,000. Also, Mr. Shooshani’s 2003 Ferrari Enzo spawned a lively bidding war between a phone bidder and an audience member on-site. The crowd was fixated on both parties until the final price was reached at $2,860,000. Other notable sales from the weekend included the 1929 Duesenberg Model J Dual Cowl Phaeton (sold for $2,420,000), the stunning 1948 Alfa Romeo 6C 2500 Super Sport Cabriolet (sold for $1,012,000), the one-of-a-kind 1955 Alfa Romeo 1900C SS Coupe Speciale (sold for: $990,000) and the highly original 1931 Bugatti Type 49 Grand Sport (sold for $962,500), a new world auction record for a Type 49 Grand Sport.
Top Ten Results:
High-resolution image can be found at the below link. Image copyright and courtesy of Gooding & Company.
About Gooding & Company
Gooding & Company, now in its second decade, produces market-leading prices and provides unrivaled client service with a reputation for offering only the highest-quality consignments. Spectators and patrons from more than 45 nations have watched the company's auctions live in high-definition video via Gooding & Company's webcast. The auction house will be conducting its annual Amelia Island Auction on March 11, 2016, in Amelia Island, Florida, and will feature selections from The Jerry Seinfeld Collection. Gooding & Company, the official auction house of the Pebble Beach Concours d'Elegance®, hosts the premier sale during the world-famous concours week; the 2016 Gooding & Company Pebble Beach Auctions will be held August 20 and 21 inside the gates of the Pebble Beach Resorts. Bidder registration forms, press credentials and additional auction information are available at www.goodingco.com or by calling (310) 899-1960. Follow Gooding & Company on Facebook and Twitter @GoodingCompany