Auctions

Gooding & Company Amelia Island (2014) – Auction Results

Rick Carey

Gooding & Company, Omni Amelia Island Plantation, Amelia Island, Florida, March 7, 2014

Bitter cold didn’t do much to deter the bidders at this year’s Gooding & Company Amelia Island auction although it kept the line long at the Chubb Insurance latte stand.

In addition to some superior Porsches and the beautifully original, preserved and maintained Ferrari 250 Europa GT s/n 0409GT this year’s Gooding Amelia auction presented a cross-section of postwar BMWs, from an Isetta to a 507 roadster that tested the depth of the BMW collector car market.

While the total sale was slightly up from 2012, the mean and median transaction values declined, reflecting the character of the consignment. BMWs just don’t sell like the Drendel family collection of Porsches in 2012, a hard act to follow.

Also surprising was the weakness displayed by prewar cars. David Gooding has probably done more to promote prewar, and particularly early brass and nickel era cars and antiques, than anyone else in car collecting, but here in Amelia a selection of well known and very attractive cars came up unusually short. Those that sold did so at modest prices (except for the Rolls-Royce PII Henley Roadster.) Of 13 prewar cars offered eight were sold, a 61.5% sale rate that pulled the overall sell-through down significantly.

Cars at the top of the market, or those that seem to be in collectors’ headlights these days like the Lancia Aurelia B24S Spider America, unrestored 300SL Roadster, Dinos and BMW 507, did well. But the Porsche RSK sold for only rounding error more than it had brought a year and a few months ago at Gooding’s Scottsdale auction in 2013.

Still, when all was said and done $31 million in sales in a single day is indicative of the enthusiasm of collectors and the abundant liquidity they still bring to the collector car market, even if some of it goes to chasing fads.

Gooding and Company Amelia Island 2014 – Auction Report

Lot # 04 1967 Shelby Mustang GT350 Fastback; S/N 67200F4A01451; White, Blue stripes/Black vinyl; Estimate $100,000 – $125,000; Older restoration, 2+ condition; Hammered Sold at $100,000 plus commission of 10.00%; Final Price $110,000. No Reserve – 289/306hp, 4-speed, P/B, P/S, 3.89 Traction Lok, radio delete, 10-spoke wheels, grille-mounted driving lights. – Restored to high standards, sparingly used and consistently maintained since and still like new with better cosmetics. Documented with the original window sticker. – Sold by RM in Ft. Lauderdale in 2007 for the very impressive price of $151,200, a magnanimous valuation for a ’67 Shelby GT350. So magnanimous, it turns out, that even the estimate here recognizes its generosity. This is an appropriate price.
Lot # 05 1974 Ferrari 246 GTS Dino; S/N 08070; Viola Metallizzato/Black; Estimate $325,000 – $375,000; Cosmetic restoration, 3+ condition; Hammered Sold at $310,000 plus commission of 10.00%; Final Price $341,000 – A/C, P/W, Cromodora alloy wheels, blackwall tires, tool kit, manuals. – Viewed a year ago at Auctions America’s Ft. Lauderdale auction, good new paint purported to be the original color (one of 31 delivered in Viola) and attractive new upholstery and mousehair style dash top. Engine and chassis are aged and neglected. Said here to have been recently serviced and have under 26,000 original miles. – The consignor’s decision to decline the $295,000 offered at Ft. Lauderdale last year for this eminently usable Dino in its striking and unusual livery was understandable but the $15,000 more that it brought on the hammer was little solace in the end. An eye-catching Dino at a realistic price.
Lot # 06 1968 Datsun 1600 Roadster; S/N SPL31117895; Silver-Grey Metallic/Burgundy vinyl; Estimate $35,000 – $45,000; Recent restoration, 2+ condition; Hammered Sold at $46,000 plus commission of 10.00%; Final Price $50,600 – AM-FM, hubcaps, narrow whitewalls, later 5-speed Datsun transmission. – Restored better than new with excellent paint, chrome and interior. Let down only by a scratched gauge lens. AACA Senior National First Prize at Hershey in 2013. – An amazing car, restored to beyond perfect condition and not often seen at all, let alone in this superlative and accurate condition. Its result here should stand for a long time as the benchmark by which other Datsun 1600s and 2000s are judged.
Lot # 14 1971 BMW 2002 Cabriolet, Body by Baur; S/N 2790141; Engine # 2790141; Red/Black vinyl; Black cloth top; Estimate $40,000 – $60,000; Older restoration, 3+ condition; Hammered Sold at $62,000 plus commission of 10.00%; Final Price $68,200. No Reserve – Nardi woodrim steering wheel, wheel covers, Falken blackwall tires. – Good older restoration with good paint, chrome and interior. – One of a number of BMWs offered at Gooding’s Amelia Island auction, and one of the most appealing with its Baur built droptop. The loss of the roof structure may detract from the ‘ultimate driving machine’, but it will more than make up for any shortcoming in that regard when the weather is good, a consideration which the Gooding bidders must have had in mind when they pursued it to this price. [Photo courtesy Gooding & Company © 2014 Gooding & Company, Brian Henniker]
Lot # 15 1980 BMW M1; S/N WBS59910004301385; White/Black leather, cloth; Estimate $325,000 – $375,000; Unrestored original, 3+ condition; Hammered Sold at $345,000 plus commission of 10.00%; Final Price $379,500 – Kenwood cassette stereo, P/W. Grey market certification by Trend Imports. – Clean, orderly original car with good paint and interior, 25,502 miles from new. – Rarely seen and one of the stars of the BMWs assembled by Gooding & Company for Amelia Island, the combination of rarity, performance, design, modest known mileage and a history of consistent care and maintenance made this a sound buy.
Lot # 17 1958 BMW 501A 4-Dr. Sedan; S/N 54989; Engine # 12065; Silver/Blue leather; Estimate $90,000 – $120,000; Recent restoration, 2+ condition; Hammered Sold at $110,000 plus commission of 10.00%; Final Price $121,000. No Reserve – 2,580cc/110hp BMW V-8, 4-speed, Becker Mexico radio, folding sunroof, hubcaps, Michelin XVS blackwall tires. – Very good paint and interior, bright, sharp chrome and glass. A statement. – Known, for good and sufficient reason, as the ‘Baroque Angel’, the appearance of a BMW 501 at auction is rare, and never in such meticulously executed and presented condition. It is worth the price it brought solely as a conversation piece.

 

Gooding and Company Amelia Island 2014 – Auction Report Page Two

Lot # 25 1964 BMW 3200CS Coupe, Body by Bertone; S/N 76344; Engine # 41380; White/Blue leather; Estimate $65,000 – $85,000; Older restoration, 3- condition; Hammered Sold at $44,000 plus commission of 10.00%; Final Price $48,400. No Reserve – 3,168cc V-8, 160hp, 4-speed, Becker Europa AM-FM, P/W, hubcaps, aluminum trim rings, rear window defroster. – Clean, orderly used car with a decent repaint and chrome. Cracked, torn original upholstery. Clean and orderly underhood. Restored in 1989 and seriously used since. – Rare and pretty (in the Bertone style of the day seen with some variations on several marques including Alfa Romeo), the well used condition of this 3200CS contributed to its less than stellar value in the eyes of the Amelia Island bidders. At this price it represents a sound value that will accrue driving enjoyment for its new owner.
Lot # 26 1957 BMW 503 Coupe; S/N 69185; Engine # 30211; Red/Red leather; Estimate $225,000 – $275,000; Visually maintained, largely original, 3- condition; Hammered Sold at $200,000 plus commission of 10.00%; Final Price $220,000 – 3,168cc V-8, 140hp, column shift, Blaupunkt multiband radio, wheel covers, Michelin X blackwalls, Talbot mirrors. – Quick older repaint, good chrome. Cracked upholstery with dead cushions. A tired but rare BMW. – This result makes the 3200CS sold just before it for $44,000 hammer seem an even better value. This is good cabriolet money for a tired fixed roof 503, an expensive car.

Lot # 27 1969 BMW 1602 2-Dr. Sedan; S/N 1567736; Engine # 1567736; Cream/Tan vinyl; Estimate $35,000 – $55,000; Visually maintained, largely original, 3+ condition; Hammered Sold at $24,000 plus commission of 10.00%; Final Price $26,400. No Reserve – Blaupunkt pushbutton AM radio, wheel covers, blackwall tires, owner’s manual, service book, tool kit, jack. – Dull but sound chrome, excellent repaint, good original interior showing some age. Good dash and gauges. An impressively maintained and preserved BMW. – Neither rarity nor condition contribute a lot to the value of the BMW 1602 and the Amelia Island bidders took both into account in arriving at this modest price. Or, with 16 BMWs, two Isettas and a BMW motorcycle crossing the block it may reflect BMW ennui in the tent. [Photo courtesy Gooding & Company © 2014 Gooding & Company, Brian Henniker]
Lot # 29 1964 Mercedes-Benz 300SL Roadster; S/N 19804210003207; Engine # 19898410000124; Grey-Blue, Blue hardtop/Red leather; Black cloth top; Estimate $1,600,000 – $2,000,000; Visually maintained, largely original, 4+ condition; Hammered Sold at $1,850,000 plus commission of 10.00%; Final Price $2,035,000 – Nardi woodrim steering wheel, chrome wheels, Euro headlights with stoneguards, Bosch driving and fog lights, two tops, hubcaps, disc brakes. – Sound old repaint and chrome. Cracked, soiled original interior. Ratty, but running, engine. Sound body. Unstamped engine block. Recorded as the third from last 300SL roadster shipped. Stored many years and freshly serviced to make it run and drive, but not thoroughly serviced. – It is going to be hard to figure out what to do next with this very late 300SL Roadster. Restoration would seriously detract from the patina which the bidders here so obviously coveted and were willing to pay dearly for, but continuing to preserve it in its present condition, or bringing it back to good and safe driving condition, are likely to be unsatisfying and expensive. The bidders paid dearly for a tired old car. [Photo courtesy Gooding & Company © 2014 Gooding & Company, Brian Henniker]

Lot # 33 1956 Alfa Romeo Giulietta Spider Race Car; S/N 149500348; Engine # 131541849; Blue/Black leatherette; Estimate $45,000 – $65,000; Modified for competition during restoration 3+ condition; Hammered Sold at $56,000 plus commission of 10.00%; Final Price $61,600. No Reserve – Later (1957) engine, 5-speed, white painted Panasport alloy wheels, driver’s rollbar and windscreen, Pirelli Cinturato blackwalls, metal passenger’s seat tonneau cover, fuel cell, Supertrap exhaust. – Clean, sharp vintage race car with very good cosmetics. Race prepared when new by Conrero and raced by Charlie Rainville, possibly to a class win at Sebring in 1957 (or maybe it was another of Rainville’s three Giulietta race cars.) Later restored by Al Leake and updated with dual Webers on the current engine. – Even without solid attribution of the Sebring appearance this Alfa Giulietta is a sharp, up to date vintage racing car that brought a realistic price.
Lot # 34 1972 Ferrari 365 GTB/4 Daytona, Body by Pininfarina/Scaglietti; S/N 15741; Engine # B2056; Bordeaux/Black leather; Estimate $750,000 – $825,000; Cosmetic restoration, 2 condition; Hammered Sold at $700,000 plus commission of 10.00%; Final Price $770,000 – Becker Europa II stereo, P/W, alloy wheels, Michelin XWX tires, Classiche certified, books, tool roll. – 10,978 miles from new. Very good recent repaint, detailed chrome and partial new interior. Detailed to an extraordinary degree. Seat facings have been replaced, sides are older and showing age. – This Daytona traces the model’s recent history in the market, having been sold by Christie’s in original condition in Los Angeles in 2000 for $94,000, then offered at RM’s Arizona auction seven months later with a high bid of $110,000. The current paint and much of the interior, as well as meticulous detailing, is recent, but barely scratches the seven-fold increase in value in 13 years. An excellent example, with low miles and an encouraging history, this is not an unusual result in today’s erratic Ferrari market, but fully values this Daytona for what it is.

Lot # 35 1969 Fiat Shellette Beach Car; S/N 100GB1231722; Blue/Wicker; Blue, White cloth top; Estimate $45,000 – $60,000; Not evaluated; Hammered Sold at $50,000 plus commission of 10.00%; Final Price $55,000. No Reserve – – – Sold by Bonhams at Greenwich last June for $39,600. Despite the brisk weather at Amelia Island leading up to the Concours on Sunday the proximity of the Atlantic Ocean beaches appears to have encouraged the bidders to be generous toward this Shellette. [Photo courtesy Gooding & Company © 2014 Alejandro Rodriguez]
Lot # 38 1961 Jaguar XKE SI Roadster; S/N 875771; Engine # R3094-9; Dark Blue/Grey-Blue leather; Grey cloth top; Estimate $160,000 – $180,000; Older restoration, 2- condition; Hammered Sold at $117,500 plus commission of 10.00%; Final Price $129,250. No Reserve – Flat floor, welded bonnet louvers, aluminum radiator, chrome wire wheels, blackwall tires, pushbutton radio, books, manuals, tool roll. – Unusual color, good paint and interior. Orderly engine with polished cam covers and carb dashpots shows use, cracked header porcelain. Engine is later, VIN tag is R2124-9. – And the winner is? Not the consignor of this XKE. A desirable (if uncomfortable) early flat floor, Moss gearbox model, it is let down by its later engine, an insurmountable value handicap in an early XKE. But taking that into account the price it brought is healthy and demonstrates the recent strength of XKE values. [Photo courtesy Gooding & Company © 2013 Mike Maez Photography]
 

Gooding and Company Amelia Island 2014 – Auction Report Page Three

_V0A9653. ©2014 Chip Riegel / www.chipriegel.com. 1956 Austin-Healey 100 M, Philadelphia, PA, USA, 01/16/2014. Photographed for Gooding & Co. 2014 Amelia Island sale.
Lot # 45 1972 Ferrari 246 GT Dino ; S/N 04970; Red/Black leather; Estimate $325,000 – $375,000; Cosmetic restoration, 3 condition; Hammered Sold at $570,000 plus commission of 10.00%; Final Price $627,000 – Chairs and flares, Campagnolo alloy wheels, Michelin X blackwalls, Sony CD stereo, manuals, tools, US owner’s manual, tool kit. – One owner and 30,773 miles from new. Sound older repaint, worn, cracked but serviceable original interior, old seat belts. Exterior is pretty but the interior, dash and gauges are old and tired. Suspension appears to have been redone. Window channels are old and worn, with some overspray. – Heavily promoted as one of five ‘Chairs and flares’ Dinos originally US-delivered, combined with the one owner history and 30K miles, this is an exceptionally pure and well-maintained Dino. All of which, however, seems disconnected from the astounding, eye-watering, price it brought and presents the new owner with a real conundrum deciding what to do with it. At this price any risk from using it is nearly irrational, but as garage art it’s just another red Dino.
Lot # 48 1959 Porsche RSK Spyder, Body by Wendler; S/N 718023; Engine # 90215; Silver/Red leatherette; Estimate $3,250,000 – $3,750,000; Competition restoration, 2+ condition; Hammered Sold at $3,000,000 plus commission of 10.00%; Final Price $3,300,000 – Wraparound windscreen, plastic rim steering wheel, driver’s head fairing – Confirmed by Porsche as the original engine and transmission. Raced when new by Roy Schechter including Nassau in 1959 and the 1960 Riverside GP. Restored in 2006 in its present configuration. Doesn’t appear to have been vintage raced, just consistently maintained and preserved in very good, essentially like new, condition with better paint and upholstery. – Sold by Gooding in Scottsdale a year and two months ago for $3,135,000, a static result for a desirable Porsche.
Lot # 54 1956 Lancia Aurelia B24S Spider America, Body by Pinin Farina; S/N B24S1155; Engine # B241211; Red/Black leather; Black cloth top; Estimate $1,250,000 – $1,550,000; Recent restoration, 2+ condition; Hammered Sold at $1,175,000 plus commission of 10.00%; Final Price $1,292,500 – Cream Borrani ‘Bimetal’ disc wheels, blackwall tires, woodrim steering wheel. – Taken apart in anticipation of an enthusiast restoration decades ago, discovered in 2012. Freshly restored and better than new without being overdone. Never shown. – This has to be the best Spider America in the world, meticulously restored with fastidious attention to detail and spotless. It is ready for the concours field as, at this price, it should be. It is becoming hard to keep up with the prices of Lancia Spider Americas.

Lot # 57 1969 Porsche 911E 2.0 Coupe; S/N 119200650; Engine # 6298491; White-Grey/Tan vinyl; Estimate $100,000 – $125,000; Not evaluated; Hammered Sold at $125,000 plus commission of 10.00%; Final Price $137,500. No Reserve – Sold by Gooding at Pebble Beach in 2011 for $104,500. [Photo courtesy Gooding & Company © 2013 Alejandro Rodriguez ]
Lot # 58 1933 Rolls-Royce Phantom II Roadster Henley, Body by Brewster; S/N 291AJS; Engine # A95J; Black, Crimson accent/Cognac leather; Black cloth top; Estimate $1,250,000 – $1,750,000; Not evaluated; Hammered Sold at $1,300,000 plus commission of 10.00%; Final Price $1,430,000 – – Not evaluated on-site. – Sold by Sotheby’s from the Rick Carroll estate in 1990 for $660,000 as an older restoration in sound but aged condition and subsequently given a comprehensive Stone Barn cosmetic restoration in the present livery. Displayed at Pebble Beach in 2003, Class winner at Amelia in 2005 and Palos Verdes in 2007. [Photo courtesy Gooding & Company © 2014 Gooding & Company, Brian Henniker]

Lot # 62 1955 Ferrari 250 Europa GT Coupe, Body by Pinin Farina; S/N 0409GT; Engine # 0409GT; Dull Grey, Eggplant roof/Burgundy leather, Grey cloth; Estimate $2,500,000 – $3,000,000; Unrestored original, 3- condition; Hammered Sold at $2,300,000 plus commission of 10.00%; Final Price $2,530,000 – Silver painted Borranis, blackwall Pirelli Cinturato tires, Marchal head, fog and driving lights, extensive documentation, original tool roll, manual, brochures. – 14,224 km from new, owned 45 years by Raffaele Lacarbonara until 2012. Aged and tired but mostly original car. Chrome is peeling, upholstery is cracked and pulled. Probably too well preserved ever to be restored but for the right owner has just enough patina for some additional use not to have significant effect on its originality or value.. – Many onlookers were transfixed by this Europa GT and its history, a highly desirable combination of style, performance, originality and careful long term preservation that is avidly sought by collectors today. Based on its combination of attributes it is impossible to argue with the bidders’ determination of value. Classiche certification will add to its aura of authenticity.

Gooding and Company Amelia Island 2014 – Auction Report Page Four

Lot # 66 1968 Porsche 907 Longtail Endurance racer; S/N 907005; Engine # 17; White/Red cloth; Estimate $3,500,000 – $5,000,000; Competition car, original as-raced, 3- condition; Hammered Sold at $3,300,000 plus commission of 10.00%; Final Price $3,630,000 – RHD. Black centerlock alloy wheels, Dunlop Racing tires – 1964 Daytona 24 Hours winner, four-time LeMans 24 Hour entrant including first in class in 1971 and second in class in 1972, 4th at Sebring in 1969. Cracked Plexiglas rear window, sound old paint, worn interior. Restored in 2010 with a correct 8-cylinder engine in 1964 Daytona configuration. Well preserved but in as raced condition. – Porsche’s first 24 hour race winning car. That alone goes a long way to explaining its price.
Lot # 68 1906 American Tourist Touring; S/N 1783; Red, Black fenders/Crimson leather; Black cloth top; Estimate $200,000 – $240,000; Older restoration, 3 condition; Not sold at Hammer bid of $170,000 – RHD. Rushmore acetylene headlights, Gray & Davis kerosene sidelights, Castle kerosene taillight, cowl-mounted Rushmore acetylene spotlight, Stewart speedometer, single spare with strapped on rear view mirror on right running board. – A Dr. Samuel Scher restoration from the 1960’s, AACA National First Prize winner around that time, sold to Richard C. Paine, Jr. and displayed many years at Seal Cove. Later owned by John O’Quinn. Carefully preserved and still attractively presented but showing age, even without any use at all in years. A handsome and attractive early American, possibly the oldest of its marque, but after decades on static display it will need no small amount of work to get back on the road where it belongs. – Sold by Bonhams in the Paine collection de-accession in 2008 for $612,000, then by RM at Hershey from the O’Quinn estate in 2012 for just $110,000. The Amelia Island Concours featured the American marque on Sunday with a massive gathering, exposure that should have helped this example find a new home. It didn’t, so it journeyed a day’s drive south after its no-sale here and was successfully sold by Auctions America in Ft. Lauderdale the next weekend for $126,500, a massive value in a big, historic American.
Lot # 70 1969 Ferrari 206 GT Dino, Body by Pininfarina/Scaglietti; S/N 00378; Red/Black vinyl, velour; Estimate $475,000 – $550,000; Visually maintained, largely original, 3 condition; Hammered Sold at $580,000 plus commission of 10.00%; Final Price $638,000 – AM-FM, Cromodora centerlock wheels, Michelin Defender blackwall tires. – Decent older repaint and chrome. Aged, musty smelling original interior. Aged engine and underbody. A tired and neglected but pretty car that makes a good first impression. – One of 153 of the first series 2-liter Dinos with alloy bodies (that probably adequately compensate for the 15 fewer ponies from the 2-liter engine), this is a collector’s prize, as long as the collector is able to communicate its special nature in the absence of material visual distinction from the four thousand 246 GT Dinos. The seller was more than adequately compensated for the rarity at this exceptional price.
Lot # 74 1972 Ferrari 365 GTB/4 Daytona, Body by Pininfarina/Scaglietti; S/N 15117; Engine # B1708; Yellow/Tan leather, Black stripes; Estimate $575,000 – $650,000; Visually maintained, largely original, 3+ condition; Hammered Sold at $600,000 plus commission of 10.00%; Final Price $660,000 – P/W, Becker Mexico cassette, A/C, chrome spoke Borranis, Michelin XWX blackwalls, owner’s manuals, tool roll, jack. – Very good paint and chrome. Interior is lightly worn. Old shoulder belts. Very good dash top and instruments. Underbody sound deadening is much older than the paint and interior. Good gaps and panel fits. – Sold by RM in Houston in 2004 for $167,200; offered by Bonhams at Quail Lodge in 2009 with a high bid of $210,000; sold by RM in Monterey in 2012 for $396,000 in pretty much the condition in which it was offered here and showing only 86 more miles today, making this a 50% increase in a year and a half, a price that is representative of the current values of eye-catching, well maintained Daytonas.
Lot # 75 1960 Triumph TR3A Roadster; S/N TS57452L; Engine # TS57469E; Red/Black leatherette, white piping; Black leatherette top; Estimate $30,000 – $40,000; Recent restoration, 2- condition; Hammered Sold at $30,000 plus commission of 10.00%; Final Price $33,000. No Reserve – Hubcaps, trim rings, blackwall radial tires, fender mirrors, luggage rack, full weather equipment. – Freshly restored with good paint, chrome and interior. Very good underhood but with some oversights and overlooked details. – A thoroughly restored car with a few miles on the restoration (the odometer shows 1,376) to shake it down and work out any bugs. The Amelia Island bidders appreciated it with an appropriate price. [Photo courtesy Gooding & Company © 2013 Gooding & Company, Brian Henniker]
Riegel_140117_0025. ©2014 Chip Riegel / www.chipriegel.com. 1966 Porsche 911, Greenwich, CT, USA, 01/17/2014. Photographed for Gooding & Co. 2014 Amelia Island sale.
Riegel_140117_0025. ©2014 Chip Riegel / www.chipriegel.com. 1966 Porsche 911, Greenwich, CT, USA, 01/17/2014. Photographed for Gooding & Co. 2014 Amelia Island sale.

[Source: Rick Carey]

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