Auction Recap: Gooding Scottsdale 2017

Overall sales from Gooding & Company’s Scottsdale (Ariz.) Collector Car Auction were down 23% from 2016, mostly due to waning activity at the upper reaches of the market. Overall sales totaled $33.3M at the company’s 10th annual Scottsdale event, held Jan. 20-21 at Fashion Square. In all, 105 of 125 vehicles sold for an 84% sell-through rate and a $317,492 average price, compared to 2016’s $443,390 average. While Gooding sold five cars above $2M in 2016, that number dropped to two this year, which is consistent with results across all 2017 Arizona auctions.

Gooding’s top-selling car, a 1925 Bugatti Type 35 Grand Prix, did exceptionally well at $3.3M, including buyer’s premium, on its way to setting a new world record for a standard version of the model. Saturday’s star, a 1965 Ferrari 500 Superfast, also found a new home at a market-correct $2.915M, and a 1932 Alfa Romeo 6C 1750 Grand Sport roadster sold for $1,595M. A pair of Ferrari 275 GTBs (one a desirable long-nose alloy car and the other a stunning pine green 4-cam car) missed reserve by a few bids. Also missing was a gorgeous 1932 Packard Twin Six/Individual Custom-Series 906 Dietrich Stationary Coupe with a high bid of $1.4M.

One of the highlights of the auction was an amazingly original 1955 Mercedes-Benz 300SL Gullwing. Coming from long-term ownership and showing just over 31,000 miles, the car eclipsed a #2 price to sell for $1.4575M. While the top of the market is currently very selective, fresh-to-market examples and unrestored originals are still commanding respect in the market, as this Gullwing illustrates.

Cars further down the price ladder performed quite well. An outstanding restored 1967 Porsche 912 coupe sold for $114,400 with buyer’s premium. This car was stunning in its presentation and soared past its $80,000 high estimate. Interestingly, it was also an amount that could have purchased a 1979 Porsche 930 Turbo coupe ($115,500). A 1979 Mercedes-Benz 450SL pulled an outstanding $81,400, and a 1971 DeTomaso Pantera scored with a final price of $148,500.

Overall Top 10 Sales:

1. 1925 Bugatti Type 35 Grand Prix Roadster sold for $3,300,000
2. 1965 Ferrari 500 Superfast Series I Coupe sold for $2,915,000
3. 1932 Alfa Romeo 6C 1750 Grand Sport Roadster sold for $1,595,000
4. 2011 Ferrari 599 SA Aperta Spider sold for $1,485,000
5. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,457,500
6. 1928 Bentley 4 1/2-Liter Open Sports Tourer sold for $1,100,000
7. 1964 Shelby Cobra 289 R&P Roadster sold for $1,100,000
8. 1988 Porsche 959 Komfort Coupe sold for $1,089,000
9. 1961 Mercedes-Benz 300SL Roadster sold for $1,034,000
10. 1969 American Motors AMX/3 Coupe sold for $891,000

Gooding & Company’s next sale will take place March 10, in Amelia Island, Fla. In addition to several exceptional Porsches (1998 911 GT1 Strassenversion, 1993 964 Turbo S Leichtbau, 2011 997 GT3 RS 4.0), a 2015 McLaren P1 will also be offered.