Gooding and Company Pebble Beach, Equestrian Center, Pebble Beach, California, August 18-19, 2012
Report and photos by Rick Carey, Auction Editor
$113,736,600 sold in just two days, with just 123 cars offered and 110 sold, an 89.4% sale rate and average transaction value of just over $1 million; $1,033,969 to be precise.
In the history of collector car auctions there have been a few that posted comparable results, but only in individual categories.
For instance, Barrett-Jackson posted a $100 million sale in 2007 but that $108.8 million total required selling 1,239 cars over a six-day period with an average transaction of $87,790.
Several auctions have average transactions of more than $1.034 million: RM’s three Maranello Ferrari auctions and last year’s Villa d’Este sale. But their totals were half or less (sometimes way less) than Pebble Beach 2012’s $113.7 million. Christie’s Royal Albert Hall auction in 1987 where the Bugatti Type 41 Royale s/n 41141 Kellner Coupe sold for $9,764,585 had an average of $1.8 million, but a total of only $10.8 million from six sold lots.
It was fitting that on a weekend marked by several inexplicably generous prices the last transaction of the four-day auction marathon would also be a benchmark for exuberance. You can read about it at the end of this report.
The 2012 Gooding Pebble Beach auction was an historic event.
Ed Lenahan contributed greatly to the completeness and accuracy of this auction report but if there are issues, comments or complaints they should be addressed to the editor.