Gooding & Company, Fashion Square, Scottsdale, January 20-21, 2012
Report and photos by Rick Carey, Auction Editor
Since coming to Arizona in 2008 Gooding & Company has established itself at the core of the Arizona collector car auction experience, bringing outstanding cars and a refreshing upscale environment.
2012 continued that record, recording the Arizona auctions’ highest sale, the credibility-defying $4.6 million sale of alloy Gullwing s/n 1980435500208, the second-highest total sale value in this year’s Valley of the Sun extravaganza and leaving only two of the 118 cars to return to their consignors, a brilliant sale rate of 98.3%.
Despite pre-sale estimates that challenged established notions of value the final results saw hammer bids on sold lots exceed the low estimates by almost $2 million, a margin of error skewed in consignors’ favor by 5%. $1.2 million of that was the alloy Gullwing, however, with another $450,000 coming from the 4 1/2 liter Bentley s/n KL3584. Those 10 over high estimate results were balanced by 84 of the cars sold–72.4%–brought hammer bids under their low estimates, but that also reflects the uniformly generous estimates in the catalog. Even coming close to the low estimates in most cases was a near-record price.
Speaking of record prices, Gooding claims thirteen of the Scottsdale cars set all-time records including, not surprisingly, four of the superbly restored and maintained Packard Twelves from Thomas Moretti’s collection. Some were irrelevant (like the “world auction record price for a [Bugatti] Type 38,” a freshly restored car with probably unique Falaschi coachwork that was if anything a sound value at $495,000) but others were eye-openers like $880,000 for Maserati Ghibli SS Spider s/n AM115/S491259. That’s Daytona Spider money for a Maserati, near-parity that has never, ever, been seen before. [And which I think is long overdue recognition of the Ghibli Spider’s performance and design].
Ed Lenahan and I looked at 53 of the 118 cars in Gooding & Company’s Scottsdale auction. The specific observations are below; a full table of results with on-site observed cars highlighted is here.
Gooding and Company Scottsdale 2012 – Auction Report