Gooding & Company
1517 20th Street, Santa Monica, California 90404
310-899-1960
About Auction House
Gooding & Company is recognized the world over as a leading automotive auction house specializing in the finest antique, classic, sports and racing cars.Auction Previews & News
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Auction IndustryMonterey Car Week 2022 Returns Amid a Cooling Economy and Cautious Optimism
Luxury car collectors are again flocking to California’s shore for Monterey Car Week 2022, an annual affair that promises exciting prices for the most coveted vehicles on the market. It will run from August 12 through August 21, 2022. Last year’s Monterey Car Week yielded USD 321 million and an 87% sell-through rate despite ongoing economic pressure from the COVID-19 pandemic and global instability. 1955 Ferrari 410 Sport Spider by Scaglietti. Image courtesy of RM Sotheby’s. This August, market analysts are hoping for similar success. The current schedule for Monterey Car Week 2022 includes auctions from Mecum, Bonhams, RM Sotheby’s, and Gooding & Company. The traditional Russo and Steele Auction has been canceled this year, while Broad Arrow Auctions will join the lineup for the first time. The market for top-of-the-line luxury cars remains vibrant, especially for cars offered at prices above $100,000. The Monterey Car Week 2022 auctions will offer an unprecedented number of top-tier cars worth at least $1 million each. Hagerty’s manager of valuation analytics, John Wiley, predicts total sales to be near $400 million. A few outcomes are possible– the high-quality consignments and widespread appreciation lead to spirited bidding and a new record total for Monterey Car Week. Other factors could drag prices down. An excess of supply and a cooling global economy may turn some collectors away. 1938 Bugatti Type 57C Atalante. Image courtesy of Bonhams. Among the top lots of Monterey Car Week 2022 is a rare 1965 Shelby 427 Competition Cobra, presented by Mecum. One of just 23 produced by renowned automotive designer Carroll Shelby, the vehicle retains its original aluminum body and chassis. It was driven in Formula One races, appeared on television specials, and owned by the likes of Steven Juliano, George Staugger, and David Livingston. The auction house describes it as “the stuff of legends and requiring little, if any, introduction.” RM Sotheby’s is offering several famous vehicles, including a 1998 Ferrari F300 that brought German Formula One racer Michael Schumacher unprecedented wins in 1998. It is the most successful undefeated Ferrari Formula One chassis of all time. It may…
Auction IndustryAston Martin, Ford, Delahaye, Jaguar, Porsche, and Talbot-Lago Headline Monterey Car Week Auctions
After a year-long hiatus caused by the COVID-19 pandemic, Monterey Car Week in California is set to return this August. Beginning today, August 6th, 2021, live events will run until Sunday, August 15th. The annual classic car week will feature nearly 30 events, including car shows, auctions, races, panel discussions, and lectures. Topping the week is the Pebble Beach Concours d'Elegance, commemorating its 70th year. This year’s Monterey Car Week auctions will feature sales from Bonhams, Gooding & Company, Mecum Auctions, and RM Sotheby’s. In 2019, the Monterey Car Week auctions together garnered USD 250,000,000. Auction Daily explores some highlights of the coming Monterey Car Week auction cluster before the events kick off. 1970 Porsche 917K. Image from RM Sotheby’s. 1970 Porsche 917K A 1970 Porsche 917K will cross RM Sotheby's 2021 Monterey block with a presale estimate of $16,000,000 to $18,500,000 (lot #328). The car— chassis 026— made its debut in the 1970 World Sportscar Championship, 24 Hours of Le Mans. Driven by David Hobbs and Mike Hailwood, it sported an orange roof and blue lower bodywork. The car ran as high as the third position for 49 laps before crashing in the 50th lap. In 1971, it appeared as the winning car in Steve McQueen’s film Le Mans. The film used original racing footage. Following the movie, the chassis was factory repaired and re-bodied as a Porsche 917 Spyder. The remodeled 917 Spyder had lightweight open bodywork and competed in the 1972 and 1973 European InterSerie Championship. “The Gulf Oil Porsche 917K is essentially the holy grail of competition cars,” Gord Duff, global head of auctions at RM Sotheby’s, said in a statement. “It represents the very best of motorsport history and heritage from an era of legendary cars and drivers, it will forever be a movie star in its own right.” In 1988, collector Mike Amalfitano acquired the car. It remained in his possession until the current owner purchased the car in 2010 for nearly $4,000,000. He then restored it to its original Le Mans coupe specification. 1995 McLaren F1. Image from Gooding & Company. 1995 McLaren…
