Gooding & Company, Geared Online, May 7, 2021

Gooding & Company has adapted with some enthusiasm to the online only auction format after dipping its toes into the medium in place of the Covid-cancelled 2020 Monterey auctions and then, achieving outstanding results with the September 2020 “Passion of a Lifetime” live/online auction in London.

That was followed by now four online only auctions, one in October 2020, a stand-in for Scottsdale 2021, an online only auction in February based on cars in London and this online only auction in May. Another is planned for June 2021 before going live/online again at Monterey (and won’t we all be glad to gather there for it).

Gooding’s approach is somewhat different, gathering its online consignment in a single facility where they are available for scheduled pre-sale viewing. They have steadily expanded their photographic coverage of the cars to depict details of equipment and condition. It’s at a point where the photos are as good as most online auctions and better than many.

Which brings us to “Geared Online” May 3-7, 2021, and an impressive result with a spectacular sell-through and even more impressive performance on cars bid over $1 million.

Five lots attracted hammer bids over $1 million. All, that is ALL, of them sold bringing a total of $10.4 million, over 60% of the sale’s total of $16,131,500 in just those five cars.

Here are the numbers:

Cars Sold/ Offered Sale % Sold < Low Est Sold > High Est Average Sale Median Sale Total $
44/47 93.6% 81.8% 6.8% $366,625 $81,400

[22.2%]

$16,131,500

Andrew Newton and I wrote up from the online descriptions and photos 18 of the 47 lots offered. Photos are copyright and courtesy of Gooding & Company (as can readily be seen from the occasionally intrusive overprint). Why also overprint a copyright notice for Rick Carey’s Collector Car Auction reports? Because I always do that in an effort to deter online photo-snatchers.


Lot # 7 2006 Ford GT Coupe; S/N 1FAFP90SX6Y400417; Black/Black leather; Estimate $275,000 – $325,000; Unrestored original 2 condition; With Reserve; Hammered Sold at $305,000 plus commission of 10.00%; Final Price $335,500. – 330/550hp supercharged V-8, 6-speed manual, BBS wheels, painted calipers, Goodyear Eagle F1 tires, aftermarket Pioneer stereo with navigation. – Originally delivered to a dealer in New Jersey but shortly went to a private collection in Japan. Showing 1,334 miles and very clean, although the humongous screen for the stereo system looks a bit distracting. – There’s no shade in which a 2005-06 Ford GT doesn’t look great, but there’s also a strong argument that black paint, no stripes, and BBS wheels look the best. This black GT sold at Gooding’s Pebble Beach auction in 2017 for $286,000, a somewhat modest result at the time. Four years and about 250 miles later, it brought a hammer bid $45,000 higher. While far from the biggest ROI we’ve ever heard of in the car world, it shows that sometimes all you need to make a little money on a car are good timing and some luck. It also shows the continued high demand for these analog American supercars, which are worth nearly twice what they were 10 years ago.

Lot # 9 1937 Ford Model 78 Deluxe Cabriolet; S/N 5430114; Black/Tan; Beige cloth top; Estimate $35,000 – $55,000; Older restoration 3+ condition; With Reserve; Hammered Sold at $27,000 plus commission of 10.00%; Final Price $29,700. – 221/85hp, 3-speed, fog lights, hubcaps, trim rings, wide whitewalls, dual outside mirrors, rumble seat, blue dot taillights, clock, banjo spoke steering wheel, radio, – Sound older paint with chips and small scratches. The major chrome is good but some trim items are thin. The interior is sound. The top is faded and waterstained and doesn’t fit tightly. Good gauges and dashboard. The chassis has been fully restored and shows light evidence of some road miles and age. The engine compartment is accurately presented in nearly showroom condition aside from some cobwebs. There are age- and use-related flaws but none are particularly significant in a driver-quality Ford. – Offered at Gooding’s Geared Online auction seven months ago in October where it no-saled at a reported bid of $29,000. With expectations reset, this is a reasonable result for the seller and a sound value for the new owner.

Lot # 15 2015 Porsche 918 Spyder Roadster; S/N WP0CA2A15FS800089; Basalt Black Metallic/Onyx leather, Acid Green piping; Estimate $900,000 – $1,000,000; Unrestored original 2 condition; With Reserve; Hammered Sold at $1,040,000 plus commission of 10.00%; Final Price $1,144,000. – 4,953/599hp V-8, dual 141hp electric motors, 875hp combined, 7-speed automanual, Acid Green calipers, front end lift, stone shield, books, keys, cover, battery charger, CarFax documented, sequence number 089. – 1,396 miles from new and like new. – Sold by RM at Monterey in 2017 for $1,842,500 where it showed 1,188 miles and doesn’t appear to be any the worse for wear here, just suffering from a bit (38%) of depreciation even at this over-high-estimate hammer price.

Lot # 16 1969 Lotus Elan S4 SE Drophead Coupe; S/N 459764; Engine # G21402; Yellow/Black; Black vinyl top; Estimate $55,000 – $75,000; Recent restoration 2 condition; No Reserve; Hammered Sold at $31,000 plus commission of 10.00%; Final Price $34,100. – 1,558/115hp, dual Stromberg carbs, 4-speed,,powder-coated chassis, alloy wheels, leather-wrapped steering wheel, power windows. – Represented as a two-owner car, treated to a high-dollar restoration in 2015. The consignor has owned it since 1972. Perfect gaps that are better than new. Other than a light scuff on the steering wheel and some tired-looking switches, the interior is excellent with clean wood and fresh upholstery. Tidy engine bay, frame, and trunk. This is a marvelous S4 Elan that appears to have no needs whatsoever, which isn’t something that can often be said of these fragile featherweight sports cars. – This car reportedly sold for $55,000 at Gooding’s Scottsdale auction in 2016 in largely the same condition, but it was represented with the same long-term ownership history in 2021, so maybe that deal fell through. Either way, this is an exceptional Elan bought here for a price that would ordinarily buy a very good but unexceptional Elan. Even including commission it was over 15 grand under its low estimate, but such things do happen in an online auction when there’s no reserve and the right people aren’t at their desks.

Lot # 23 1955 Buick Roadmaster Convertible; S/N 7B1033764; Engine # 19840796; Carlsbad Black/Red leather; Black vinyl top; Estimate $100,000 – $120,000; Recent restoration 2- condition; No Reserve; Hammered Sold at $74,000 plus commission of 10.00%; Final Price $81,400. – 322/236hp, Dynaflow, chrome wire wheels, power steering and brakes, power top, power front seat, power windows, power antenna. – Sound but curiously flawed paint with dust inclusions, some prep flaws visible under the color coat and flecks throughout. Excellent chrome, upholstery, dash and gauges. The engine compartment is excellent, the chassis and underbody are modestly aged but with no road wear or grime and scant signs of fluid leakage except on the Dynaflow pan. An excellent car let down by its paint. – Cycled through Russo and Steele Monterey 2007 and Kruse Honolulu (!?) 2008 before selling at Branson Fall 2008 for $44,820 and then selling at Auburn Fall in 2010 for $32,450 before it got the present high quality restoration. The result here is appropriate for this car’s inherent quality, dignity and presentation.

Lot # 27 1953 Packard Caribbean Convertible; S/N 2678; Black/Black, White leather; White vinyl top; Estimate $80,000 – $100,000; Older restoration 3+ condition; No Reserve; Hammered Sold at $58,000 plus commission of 10.00%; Final Price $63,800. – 327/180hp L-head inline eight, Ultramatic, chrome wire wheels, wide whitewalls, continental kit, pushbutton radio, power brakes and steering, power windows. – The chassis was restored generations ago but the engine has been out, redone and is mostly pristine. The paint is aged and flawed, major chrome is decent but some trim chrome is weak. Steering wheel and dashboard chrome are pitting with age. A decent driver in a special color. – Sold at Barrett-Jackson in 2003 for $50,760, then at the Hershey Auction in 2005 for $22,000 before its most recent restoration. After it was restored it sold at RM Arizona in 2012 for $74,250 and it’s no better now although it does appear to have had an engine-out rebuild recently. It is a sound and well-restored and -maintained Caribbean from the model’s first, and to some its most attractive, year.

Lot # 28 1957 BMW 507 Roadster; S/N 70073; Engine # 40059; Silbergrau/White leather piped in blue; Blue top; Estimate $2,250,000 – $2,750,000; Older restoration 2 condition; With Reserve; Hammered Sold at $2,000,000 plus commission of 10.00%; Final Price $2,200,000. – 3,168/150hp V-8, 4-speed, period radio, tools and spare. – Represented as matching numbers. One of just 254 BMW 507s built, and a later Series II version that boasted more interior space. Sold new in Italy but was in the U.S. by the 1970s. Then restored at the end of the 1990s. The restoration may be 20 years old, but it looks closer to 20 months old, at least in photos. The seats look barely sat in, and the white upholstery shows no discoloration. The engine bay and trunk are nearly spotless. It has clearly been used carefully, then stored carefully. It’s a gorgeous example of BMW’s most gorgeous car, and it’s eligible for great events like the Mille Miglia or Colorado Grand. – People have always considered the 507 to be beautiful and it has always been rare, but it was a developmental dead end for a company that (smartly) abandoned high end sports cars in favor of the profitable Isetta, the 700, and eventually the small sports sedans that made BMW’s reputation. It wasn’t until recent years that 507s became top tier seven-figure classics. This one sold pre-restoration at Christie’s Lyndhurst auction in 1998 for $156,500, then for $288,320 at the 2000 Barrett-Jackson WestWorld auction to software magnate Frank Pritt. Few cars have appreciated seven-fold in two decades but this is one of them, as this $2.2M result is spot on for this car’s condition in today’s market.

Lot # 30 1997 Porsche 911 Turbo S Coupe; S/N WP0AC2994VS375989; Engine # 61V02396; Speed Yellow/Black leather; Estimate $600,000 – $700,000; Unrestored original 2 condition; No Reserve; Hammered Sold at $490,000 plus commission of 10.00%; Final Price $539,000. – 3601/424hp, 6-speed, sport seats, rear seat and wiper delete, yellow calipers, carbon fiber dash trim, factory CD stereo, books and tools, Porsche CoA. – Delivered new in Illinois. Showing just 4035 miles and regularly maintained. One of just 342 Turbo S model 993s built and one of just 23 in this color. There isn’t much to say about its condition. It’s just a nearly like-new example of one of the ultimate air-cooled 911s. – Although it’s less than Gooding’s lofty presale estimate, this is nevertheless an appropriately strong price, pushed along no doubt by the car’s good color, low miles, and list of desirable options. The last time Gooding offered a 993 Turbo S was two years ago in Pebble Beach, where a car with only slightly higher miles brought $368,000, so the seller here should be perfectly happy.

Lot # 31 1955 Ferrari 250 Europa GT Coupe, Body by Pinin Farina; S/N 0413GT; Engine # 413GT; Grigio Metallizzato/Arancio leather; Estimate $2,200,000 – $2,600,000; Unrestored original 4 condition; With Reserve; Hammered Sold at $2,020,000 plus commission of 10.00%; Final Price $2,222,000. – 2,953/220hp, three Weber 36DCZ3 carburetors, 4-speed, Borrani wire wheels, Marchal headlights and fog lights, Clayton heater, woodrim steering wheel with finger buttons, owner’s manual. Engine internal number 353. – Successor to the Lampredi “long block” engine 2,963/200hp, the 250 Europa GT was the foundation of the epic Ferrari 250 GT series, its Colombo-designed “short block” 2,953/220hp engine powering a generation of Ferrari GT cars. 0413GT was sold to new to legendary Ferrari client Dottore Enrico Wax, Italian importer of Johnnie Walker scotch and Connolly leather. Brought to the U.S. by William Gottwald around 1960 and in his ownership until his death last November, it was stored in 1967 and remains in original unrestored but deteriorated barn find condition. The body panels fit well and are flat but the paint is dull, dirty and chipped or flaking everywhere. Chrome is rusty and flaking. The original interior, however, is sound and should be salvageable; the carpets are not. The chassis is oily, road grimy and used. The odometer shows 33,671 km but the car’s inherent condition suggests a “1” should precede that number. A marvelous find, but a long way from even driving onto a concours lawn as a Preservation entrant. – Pretty Pinin Farina coachwork, a transition between early Ferrari designs and later ones, but this car needs everything and this result is a huge premium that could have bought a quality restored and drivable car. The desire to own something different and long unknown is strong and resuscitating the Ferrari will be a labor of love, not a financially rewarding, proposition.

Lot # 33 1963 Chevrolet Corvette FI Z06 (small tank) Coupe; S/N 30837S117647; Ermine White/Black vinyl; Estimate $300,000 – $375,000; Visually maintained, largely original 3- condition; With Reserve; Hammered Sold at $290,000 plus commission of 10.00%; Final Price $319,000. – 327/360hp fuel injection, 4-speed, Z06 package including power big brakes and Posi-Traction, spinner wheel covers, Eagle GT+4 blackwall tires, T3 headlights, AM-FM radio, aircraft-style seat belts, original jack – One repaint in the original color, original window sticker documented. Sold by Don Yenko Chevrolet to the original owner David Simkins, later sold to Charles “Cookie” Knuth. Acquired in April 1974 by the current owner and retained as-found. Never shown and represented as completely original other than the paint. Bodywork, major chrome and paint are good. Trim chrome is aged. The engine compartment is well-preserved with some surface rust and paint loss. Original and rusty underneath with fluid leakage and road grime, newer exhaust system. Tired original upholstery. No competition history. Original but aged as would be expected. – On condition alone, this is a $200,000 car and the difference is completely attributable to its originality. Unlike barn finds, though, this Z06 isn’t despicable, abandoned and neglected. It’s never fallen into disrepair and that is an important distinction that should give the new owner confidence both in the car and in its condition.

Lot # 34 2013 Chevrolet Corvette 427 Collector Edition 60th Anniversary Convertible; S/N 1G1Y73DE8D5700033; Arctic White, Silver stripes/Blue Diamond leather, suede; Dark Blue top; Estimate $60,000 – $80,000; Unrestored original 2 condition; No Reserve; Hammered Sold at $45,000 plus commission of 10.00%; Final Price $49,500. – 427/505hp LS7, 6-speed manual, carbon fiber hood and fenders, ZR1 rear spoiler, Michelin tires. – Represented as a one-owner car. Showing 8,357 miles and other than some light wear on the driver’s seat’s outer bolster it looks like a new car. It’s rare, but rarity is relative in the car world and 2552 of these cars sold out of 13,466 total Corvettes in 2013. – 2013 marked the final year for the C6 generation Corvette. There was no Z06 convertible model on that platform, but GM brought out the 427 Convertible as a sendoff of sorts, finally stuffing the Z06’s 427 into a ragtop. The Collector Edition was an optional (and expensive) extra. This car has the ingredients of a future collectible (limited production, high performance, being the last of a series), but C6s are in a weird spot right now. The mid-engine C8 is the latest and greatest, while many people look to the C7 (2014-19) as the last “real” Corvette with the engine up front and a manual gearbox. For the moment, even the special versions of the C6 are just used sports cars, as demonstrated by the difference between this car’s auction price and its $91,320 MSRP.

Lot # 38 1993 Porsche 968 Turbo S Coupe; S/N WP0ZZZ96ZPS890064; Engine # 41P00506; Blutorange (Blood Orange)/Black cloth; Estimate $1,000,000 – $1,250,000; Visually maintained, largely original 2- condition; No Reserve; Hammered Sold at $720,000 plus commission of 10.00%; Final Price $792,000. – 3.0/305hp turbo four with eight-valve head from the 944 Turbo S, 6-speed transaxle, limited-slip, three-piece Speedline wheels, NACA ducts, adjustable rear wing, Recaro racing seats, factory radio, half roll cage. – One of 14 built, and therefore far rarer than a 968 Club Sport (1371 built). Essentially a road-going version of the 968 Turbo RS race cars. Porsche fitted the 968 Turbo S with a special engine that not only makes 305 horsepower but also puts down 369 lb-ft at 3000 rpm, impressive stuff for a four-banger. Performance was also quoted at 0-60 in 4.7 seconds and a 175-mph top speed. This one sold new in Germany. The engine was upgraded to Turbo RS specs in the early 2000s, but these were reversed by a subsequent owner in the late 2000s. More recently had $40,000 worth of mechanical servicing. The few discernable flaws include lightly scratched window frames and a handful of small paint chips, all forgivable stuff given the 64,653 km (40,174 miles) showing, the cool factor, and the sheer rarity. – This is the ultimate development of Porsche’s front-engine, water-cooled, four-cylinder cars that spanned the late 1970s to early 1990s. German magazine auto motor und sport called the 968 Turbo S “one of the best asphalt acrobats that Porsche has yet built.” But maybe it was a little too good for a Porsche that wasn’t a 911, which might explain why so few were built. While Gooding sold one of the RS race cars for $346,500 nine years ago, we’ve never seen one of the Turbo S road cars come to market. It’s the most expensive front-engine Porsche we’ve seen, even if it didn’t break a million like Gooding estimated it would.

Lot # 42 1967 Ferrari 275 GTB/4 Alloy Berlinetta, Body by Pininfarina-Scaglietti; S/N 10025; Red/Beige leather; Estimate $3,750,000 – $4,500,000; Older restoration 2 condition; With Reserve; Hammered Sold at $3,260,000 plus commission of 10.00%; Final Price $3,586,000. – 3,286/300hp, six Webers, 5-speed, centerlock alloy wheels (three-ear Borrani wire wheels included), Michelin XWX tires, outside fuel filler, manuals, tool roll, jack, alloy body. Engine internal number 1668. – The ninth of sixteen alloy-bodied 275 GTB/4s. Decent older repaint with edge chips and surface irregularities. Good chrome and lightly worn interior. Modified by Tom Meade with an exterior fuel filler. Restored twice, first by Judge Ralph Gorenstein in the late 90’s, then by Pat Hart. Excellent throughout and represented as the matching numbers engine. Color changed from Celeste Blue with Blue interior. Engine confirmed by Ferrari Classiche as original, but apparently not with Red Book certification. – Sold by RM at Monterey in 1999 before the most recent re-restoration for $330,000, a number that twenty-two years later is somewhat irrelevant other than being appropriate for the time. Likewise, this result is realistic for the restoration’s age and the lack of Ferrari Classiche certification, a significant 275 GTB/4 alloy with Tom Meade refinements.

Lot # 43 1934 Ford Model 40 Station Wagon; S/N 181003657; Sand Beige, Black composite roof /; Estimate $70,000 – $90,000; Visually maintained, largely original 3- condition; With Reserve; Hammered Sold at $60,000 plus commission of 10.00%; Final Price $66,000. – 221/65hp, 3-speed, black wire wheels, side curtains, single sidemount, driver’s windshield wiper, 3-row seating, glove box door clock – Big scrape on the right front fender. Dull old edge-chipped paint buffed through in places. Torn and cracked original front and middle seat upholstery, good third row, scruffy old carpet. Chipped dashboard but clear speedometer and decent gauges. Sound engine compartmetn with original-type hose clamps and old wiring, carburetor fuel leakage, surface rust and fluid seepage. Old, dirty (but not grimy) chassis with paint loss and surface rust. Ex-Nick Alexander with his cars’ usually exceptional woodwork and varnish but the rest is original and used but well-maintained. – Sold from the Nick Alexander collection by RM at Monterey in 2009 for $110,000 and offered by Gooding at Geared Online seven months ago where it was reported bid to $70,000 without selling. This old Ford woodie needs, really, nothing to be used compartment and enjoyed although a set of seat covers to preserve the original upholstery are on order to protect the interior from grandkids and domestic animal passengers. This is an appropriate result.

Lot # 47 1973 Ferrari 365 GTB/4 Daytona Coupe; S/N 16519; Rosso Chiaro/Tan leather, Black bars; Estimate $525,000 – $575,000; Older restoration 3 condition; With Reserve; Hammered Sold at $480,000 plus commission of 10.00%; Final Price $528,000. – 4,390/352hp, 5-speed, chrome spoke Borrani wire wheels (Cromodora alloy wheels included), painted nose panel, popup lights, ANSA exhaust, headrests, power windows, Becker Mexico cassette stereo, tool roll, manuals, jack, tinted windows. Ferrari Classiche Red Book certified. – Good paint with a smattering of tiny chips, even under the chipguarded nose, and joint cracks. Good lightly stretched upholstery. Faded old dashtop. The engine compartment, chassis and underbody are aged and show miles. A sound, well-maintained Daytona driver showing 24,317 quite possibly original kilometers. Road grimy chassis. – Offered by Bonhams at Quail Lodge in 2018 where it showed 24,175 km against today’s 24,317 km and was reported bid to $520,000. 2018 was a bad Daytona year at Monterey with only one of five offered in the various auctions selling and the result here is representative of the last three years of Daytona depreciation and little reward for maintaining and insuring it for only 142 km covered in the interim.

Lot # 48 1911 Stevens-Duryea Model AA Touring; S/N 22909; English Purple Lake, Black fenders and aprons, Gold coachlines/Black leather; Black cloth top; Estimate $150,000 – $210,000; Concours restoration 1- condition; With Reserve; Hammered Sold at $200,000 plus commission of 10.00%; Final Price $220,000. – RHD. 404/44 ALAM hp, inline six, wood spoke wheels, single sidemount spare, folded trumpet bulb horn, luggage rack, C.M. Hall acetylene headlights, kerosene sidelights and taillight, Jones clock and speedometer. – Ex-Harrah’s Collection, acquired by the seller in 1983 and re-restored in 2009. First in class at Pebble Beach in 2011 and the Ansel Adams award winner, with subsequent tour mileage. Strong paint, good brass, upholstery, top and weather equipment. The concours restored chassis shows some miles but good care. There are expected edge chips but the overall presentation is still exceptional. A beautiful, high quality automobile that has lived a good life and shows it. – The combination of New England’s history of precision manufacturing with interchangeable parts exemplifies the cooperation the automobile pioneer J. Frank Duryea a the Stevens Arms company. Even as Henry Ford and Billy Durant industrialized automobile production in Michigan quality cars continued to issue forth from New England. This is a spectacular motor car, restored to high standards and maintained in that condition through subsequent years of tours. Other than age it is hard to critique and it deserved the impressive result it brought here.

Lot # 49 1970 Pontiac GTO Convertible; S/N 242670P268340; Starlight Black/Black vinyl; Black vinyl top; Estimate $50,000 – $60,000; Older restoration 3 condition; With Reserve; Hammered Sold at $43,000 plus commission of 10.00%; Final Price $47,300. – 400/350hp, Ram Air hood, automatic, Rally II wheels, no trim rings, Polyglas G70-14 tires, woodgrain steering wheel, console, pushbutton radio, power brakes – Failing old paint with surface defects, cracks and chips. Good interior, glass and top. Chassis shows age and use. Restored with a color change from Polar White and Ram Air III added, driven and not particularly carefully. – Reported sold at Mecum’s Rockford (now “Spring Classic”) sale in 2004 with Judge trim (and an Auburn Gear limited slip) but in its present Black/Black/Black livery where it sold for $42,000. It went on to RM Meadow Brook where it brought $49,500, then Auburn Fall where it was reported a $44,000 no-sale. Cleaned up at RM San Diego of its extraneous Judge-ment in 2010 it sold for a handsome $53,900 showing 72,905 miles. The odometer now shows 75,492 and they have not been without incident, something the Gooding online bidders (and the consignor) took into account with this realistic result.

Lot # 51 1957 Chrysler 300C 2-Dr. Hardtop; S/N 3N572014; Parade Green Metallic/Natural leather; Estimate $50,000 – $60,000; Older restoration 3- condition; With Reserve; Hammered Sold at $45,000 plus commission of 10.00%; Final Price $49,500. – 392/375hp, dual quads, automatic, chrome wire wheels, whitewalls, dual outside mirrors, power windows, pushbutton radio, air conditioning, power seat. – Pimply chrome, sound but chipped and scraped old paint. Windshield wipers, gas gauge and air conditioning need service. Good upholstery, gauges and engine compartment. Surface rusted old restored chassis. Weak old chrome. A sound but superficially older restored car with miles that won’t make many people happy. – A much more noticeable car in Parade Green than its original Cloud White, but that’s about all this 300C has going for it. It’s tired, chipped and aged. Pretty much all the chrome needs to be refinished and the paint is, well, used. The upholstery is sound and presentable, and the chassis is thoughtfully restored but the rest is superficially done and the car is expensive at this price.

Tags: ,
Previous Post
Next Post

Leave a Reply

Your email address will not be published. Required fields are marked *