Gooding & Company’s Saturday Pebble Beach Auction Breaks $60m

In the first of two nights, Gooding & Company’s Saturday Pebble Beach Auction realizes more than $60 million

First day auction highlights included a record-breaking Ferrari LWB California Spider and Jay Leno’s Fiat 500
selling for $385,000 for the Fisher House Foundation

Gooding & Company, the official auction house of the Pebble Beach Concours d’Elegance acclaimed for selling the world’s most significant and valuable collector cars, sold more than $60 million in collector cars last night, at the first of its two Pebble Beach evening auctions. Sixty-one of the 68 lots available sold, a 90% sale rate, the most notable being the 1960 Ferrari 250 GT LWB California Spider that set a world record for a LWB California Spider at $11,275,000.

Lot 49, the 1960 Ferrari 250 GT LWB California Spider Competizione breaks the record for a LWB California Spider at auction when it sold for $11,275,000 at
Gooding & Company’s auction last night. Image copyright and courtesy of Gooding & Company. Photo by Mike Maez.

“We had the most successful one-day sale in our Pebble Beach history yesterday with more than $60 million in sales and wonderful excitement surrounding the sale of Jay Leno’s Fiat 500,” says David Gooding, President and Founder. “It’s incredible that yesterday’s results do not yet take into account two of our star attractions, the von Krieger Special Roadster and Clark Gables’s 1935 Duesenberg, which will be offered at our auction this evening following the Concours.”

Jay Leno greets the new owner of the 2012 Fiat 500 Prima Edizione that sold for $385,000 at last night’s auction benefitting the Fisher House Foundation.
An additional $215,000 of charitable donations were made. Photo copyright and courtesy of Gooding & Company. Image by Mike Maez.

One of last night’s highlights was the sale of Jay Leno’s Fiat 500 Prima Edizione benefitting 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 on stage to introduce the nationally praised four-star, non-profit organization that provides a wide range of services and support to the families of wounded American solders.  The first-edition Fiat 500, valued between $25,000–$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 of fundraising for the foundation.

The Sherman M. Wolf Collection of four extraordinary Ferraris resulted in exceptional sales for each of the cars, realizing more than $21.5 million total. The top-selling lot of the esteemed enthusiast’s collection was also the top-selling car of the auction, the 1960 Ferrari 250 GT LWB California Spider Competizione that sold for $11,275,000, a world record for a LWB California Spider.

From the William A.C. Pettit III Collection, 12 vehicles sold Saturday, realizing more than $4 million total. As desired by the late collector, estate proceeds will benefit the Shriners Hospital for Children®–Tampa, which leads the way in innovative pediatric specialty care. The top-selling lot of the collection was the legendary “Blue J,” a 1929 Duesenberg Model J Dual Cowl Phaeton that sold for $1,980,000.

Gooding & Company’s Top 10 results from Saturday, August 18, 2012:

·         1960 Ferrari 250 GT LWB California Spider Competizione; $11,275,000 (lot 49)

·         1928 Bentley 4 1/2 Litre Le Mans Sports “Bobtail”; $6,050,000 (lot 20)

·         1953 Ferrari 340 MM Spider; $4,730,000 (lot 50)

·         1957 Ferrari 500 TRC; $4,510,000 (lot 51)

·         1953 Jaguar C-Type; $3,725,000 (lot 37)

·         1960 Porsche RS60; $3,465,000 (lot 28)

·         1962 Ferrari 400 Superamerica Coupe Aerodinamico; $2,365,000 (lot 34)

·         1929 Duesenberg Model J Dual Cowl Phaeton–”Blue J”; $1,980,000 (lot 12)

·         1955 Maserati A6G/2000 Berlinetta; $1,650,000 (lot 23)

·         1963 Mercedes-Benz 300 SL Roadster; $1,595,000 (lot 66)