Gooding and Company, Pebble Beach, California, August 15-16, 2015
Going to the Gooding and Company auction at the Pebble Beach Equestrian Center is one of the highlights of Monterey Week, continuing the elegance, excitement and the wide range of intriguing, historic automobiles that pervades the Pebble Beach Concours d’Elegance.
2015 saw Gooding’s best sale ever at Pebble Beach, an increase of nearly 21% in total dollars from last year and 12.7% from their previous highest sale total in 2012, an annualized increase of a little over 6% compounded. Considering that other economic indicators have been relatively flat over the past two years, the year-to-year increase at the Pebble Beach Auction demonstrates the strength and staying power of the market for high end collector cars.
Similarly, Gooding saw its highest-ever results in both average and median transaction amounts although the ratio of just 37.5% median to mean shows the auction is heavily skewed toward extremely valuable lots. It comes no surprise, then, that twenty-five lots sold on hammer bids over $1 million and two of them brought prices over $10 million, 21.7% of the 115 lots sold. Put a little differently, only eight lots sold on five-figure bids. Clearly, big money ruled the two-day Pebble Beach auction.
Here are the numbers:
Andrew C. Newton assisted with many of the on-site observations; the editor remains responsible for the final content.
Gooding and Company Pebble Beach 2015 – Auction Report