Pebble Beach 2016: Gooding finishes Monterey auction week with record sale
Gooding & Co. used the last auction of Monterey Car Week to post strong numbers and set a record — the highest-priced Bugatti ever sold.
The Santa Monica-based auction company, from its tent next to the Pebble Beach golf course, captured some of the crowd leaving the just-concluded Sunday afternoon Concours d’Elegance judging, and may have benefited from being the last chance auto enthusiasts would have at this year’s car week to purchase a classic vehicle.
Gooding totted up $52.7 million in total sales, scoring a very healthy 75% sell-through rate, with an average vehicle price of $1,225,336, according to classic-car insurance company Hagerty, which compiled the numbers.
Those sales were led by bidding that drove the price of a 1933 Alfa Romeo 8C 2300 Monza roadster to $11.99 million, and the price of a 1932 Bugatti Type 55 Roadster to $10.4 million.
That put Gooding’s total 2016 Pebble Beach take at $129 million, just ahead of RM Sotheby’s cumulative $123-million total.
Hagerty placed the week’s total auction figure at $344.9 million, off from 2015’s cumulative total of $396.8 million.
Hagerty analyst Jonathan Klinger noted that the 2016 gavel action saw a record number of cars sold at over $10 million, with seven vehicles crossing that mark, representing a surprising 32% of total Monterey auction sales.
