The Gooding and Company Pebble Beach Auction 2012 was held August 18-19 at the Pebble Beach Equestrian Center in California, resulting in $113.7 million and an 89% sales rate. The auction total, which exceeded Gooding’s 2011 Pebble Beach results by more than $35 million, represents a world record sales total for an automotive auction.<\/p>\n
Gooding\u2019s 8th annual Pebble Beach auction featured 123 cars, with 24 achieving a sales price over $1 million. The top sale went to the von Krieger Special Roadster, a 1936 Mercedes-Benz 540 K that sold for $11,770,000, a world record for a Mercedes-Benz and a pre-war car at auction.Other notable results included a 1960 Ferrari 250 GT LWB California Spider Competizione that sold for $11,275,000, the 1957 Ferrari 250 GT LWB California Spider Prototype that made $6,600,000, the 1955 Ferrari 857 Sport at $6,270,000 and the 1928 Bentley 4 1\/2 Liter Le Mans Sports that brought $6,050,000.<\/p>\n
\u201cThere continues to be differentiation in the market between the best and everything else and I believe that our success stems from our understanding of quality in all categories,\u201d says David Gooding, President and Founder. \u201cOur record-breaking results and this year\u2019s unprecedented international interest in our auction clearly demonstrate the growing demand in high-level classic cars among new collectors and emerging markets.\u201d<\/p>\n
On Saturday evening, Jay Leno made an appearance to auction his personal 2012 Fiat 500 Prima Edizione to benefit the Fisher House Foundation. United States Secretary of Defense the Honorable Leon Panetta and Chief of Staff of the United States Army General Raymond Odierno joined Leno to introduce the organization that provides support to the families of wounded American solders. The first-edition Fiat 500, valued between $25,000\u2013$35,000 according to the auction estimate, realized a final price of $385,000 and attracted an additional $215,000 of charitable contributions, resulting in $600,000 in fundraising for the foundation. From the William A.C. Pettit III Collection, 12 vehicles sold Saturday, realizing more than $4 million total benefiting Shriners Hospital for Children\u00ae\u2013Tampa. Including these results, Gooding & Company has auctioned off more than $30 million in collector cars over the years benefiting charities that impact various causes and foundations around the world.<\/p>\n
Ferrari was a big part of the weekend with eight models between 1953\u20131962 selling above $2 million each. The Sherman M. Wolf Collection of four cars resulted in a total of $21.5 million in sales. Of the collection, the 1953 Ferrari 340 MM Spider at $4,730,000 was a world record for a Ferrari 340 MM at auction.<\/p>\n
Gooding & Company offered 123 automobiles for sale, with 110 finding a new owner, reflecting a 89% sales rate. Total sales volume was $113,736,300, inclusive of buyer\u2019s premiums. The average price per car sold was $1,033,966. In 2011, Gooding & Company offered 127 automobiles for sale, with 107 finding a new owner, reflecting a 84% sales rate. Total sales volume was $78,181,900, inclusive of buyer\u2019s premiums. The average price per car sold was $730,671.<\/p>\n