Gooding Announces $31m in Sales From First Evening’s Consignments

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GOODING & COMPANY ANNOUNCES $31 MILLION IN SALES FROM FIRST EVENING’S CONSIGNMENTS INCLUDING $7.92 MILLION PEBBLE BEACH RECORD FOR THE 1937 BUGATTI TYPE 57SC ATALANTE COUPE

Sales of World-Famous Williamson Bugatti Collection, Oprah Winfrey Charity Car Collection and Carl J. Schmitt Collection are First Night Highlights

PEBBLE BEACH, Calif. (August 16, 2008) – Gooding & Company, the official auction house of the 58th annual Pebble Beach Concours d’Elegance®, elevated car collecting to an art form once again as 74 of the world’s rarest and most spectacular automobiles crossed the auction block during this first night of its two-night auction. Led by accomplished auctioneer Charlie Ross along with highly respected Gooding & Company founder and president David Gooding, an international crowd watched as the hammer hit the gavel for the Monterey Auction Week’s marquee event. The evening featured numerous top private collections and individual legendary automotive objets d’art including the highly anticipated Williamson Bugatti Collection, the Carl J. Schmitt Collection and the Oprah Winfrey Charity Car Collection. Total sales for the evening exceeded $31.5 million.

The centerpiece of the Williamson Bugatti Collection set an all-time Pebble Beach auction record with a $7.92 million sale of the stunning 1937 Bugatti Type 57SC Atalante Coupe. In addition, a 1901 Packard Model C Dos-à-Dos Runabout also achieved record-setting levels at $214,500 along with the 1914 Stutz Series E Bearcat, which crossed the million-dollar mark at $1.375 million. A total of eight cars sold for more than $1 million each.
Saturday offered bidders an unparalleled opportunity to invest in the world’s finest collection of Bugattis ever to come to auction. The Dr. Peter and Susan Williamson Collection, comprised of twelve significant collectables, sold for more than an astounding $15.5 million. A portion of the proceeds will be donated on behalf of the late Dr. Peter Williamson to the Dartmouth-Hitchcock Medical Center and the Dartmouth Medical School.

The remarkable Carl J. Schmitt Collection of early automobiles was also auctioned off at Saturday’s auction. Schmitt assembled an impressive collection of eleven cars from the dawn of American motoring and was fascinated by early car companies’ technical innovation and use of alternative fuels. Some of the more significant Schmitt cars besides the 1901 Packard Model C Dos-à-Dos Runabout, included the 1908 White Model L Touring car and the 1910 Baker Model V Electric Victoria. Gasoline, steam and electric cars from the turn of the century are all represented within this stellar collection, making it one of the most significant Brass Era collections. The entire collection sold for nearly $2.2 million.

The legendary 1914 Stutz Series E Bearcat was sold for a $1.375 million. In the pantheon of American cars, the Stutz Bearcat is revered and significant, and is arguably the first true American “sports car.” Less than six original Bearcats are known to still exist, and this particular automobile is regarded to be the best preserved of the six.

Another highlight of the evening was the sale of Oprah Winfrey’s Charity Car Collection, which sold for $716,000. Three vehicles from Ms. Winfrey’s private collection were up for auction, including her 1954 Mercedes-Benz 300 SL Gullwing. The car is famous for its upward opening doors and is one of the most revered automobiles of all time. A 1988 Rolls-Royce Corniche II Convertible that was a gift from long-time friend and actor, John Travolta, and a 1997 Aston Martin DB7 Volante were also sold. Proceeds will benefit the annual Arts and Culture Workshop at the Oprah Winfrey Leadership Academy for Girls – South Africa.
Sunday evening’s auction will feature many of Gooding & Company’s individual star cars. Among these are two legendary 1950s Ferraris, the famed Alfa Romeo “Sleeping Beauty,” the Triumph Dolomite and the 1906 REO Model A and the “Baby REO.” Gooding & Company will also auction a highly-anticipated, one-of-a-kind 2009 Bugatti Veyron.

About Gooding & Company
Gooding & Company provides unparalleled service for those in the collector car market, offering a wide range of services, including private and estate sales, appraisals and collection management. As the official Pebble Beach Auction House for the annual Pebble Beach Concours d’Elegance, the company sold more than $61.3 million worth of collector automobiles in August 2007. Gooding & Company will be conducting its annual Scottsdale Auction on January 17, 2009 in Scottsdale, Arizona. For more information, please contact (310) 899-1960 or visit www.goodingco.com.

Gooding & Company also lends its auction expertise for the live intellectual property auctions of Ocean Tomo, a fully integrated intellectual capital merchant bank specializing in understanding and leveraging intellectual-property assets. The most recent Summer 2008 live intellectual property auction in Amsterdam produced record-breaking $12.6 million results from the sale of patents, management lots and digital media systems.

The prices are in US Dollars, include the buyer’s premium and are rounded to the nearest dollar. Gooding & Company is not responsible for typographical errors or omissions.

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