Gooding & Company, Geared Online, October 30, 2020

Gooding & Company’s second “Geared Online” auction brought in a total just 64% of their first “Geared Online” sale in early August but still recorded a great result with three lots sold on bids over $1 million. The 7-figure cars accounted for 49.8% of the total changing hands and were 100% of the lots bid to over $1 million.

That’s a high bar.

Overall the prices were normal in today’s tentative marketplace. A few lots – most notably the totally rotten Alfa Romeo 1900C Cabriolet by Pinin Farina that wasn’t far from being consigned to a scrap yard – were egregiously over-estimated. For the most part the bidders weren’t misled.

The results were heavily weighted to the million-dollar lots – Gullwing, Lusso and A6G/2000 – but were consistently sound.

Here are the numbers:

Cars Sold/ Offered Sale % Sold < Low Est Sold > High Est Average Sale Median Sale Total $
34/49 69.4% 70.6% 8.8% $270,162 $89,000

[32.9%]

$9,185,501

Observations and comments are based on Gooding & Company’s online descriptions and photography. Photos are courtesy of Gooding & Company. Lots are sorted by lot number.


Lot # 22 1972 Ferrari 246 GT Dino Coupe, Body by Pininfarina-Scaglietti; S/N 03392; Rosso Chiaro/Beige leather; Estimate $275,000 – $325,000; Visually maintained, largely original 3+ condition; With Reserve; Hammered Sold at $250,000 plus commission of 10.00%; Final Price $275,000. – 2419/195hp V-6, 5-speed, alloy wheels, Michelin XWX tires, Ansa exhaust, books, tool kit, jack. – Represented as 39,025 miles from new. Very good older color change repaint with scant evidence of road miles, very good chrome. The upholstery and interior trim are original and sound with surface creases and some soiling. The chassis is original with some service replacement parts like bushings, shows road use, scrapes and surface rust appropriate to the stated mileage. Good gauges and dash top. The engine compartment is clean and dry. A fine low mileage example. – Sold by Gooding in 2013 at Scottsdale for $291,500, seven years later and it’s still worth about the same, which speaks volumes about the 246 GT market. The originality of this Dino is compromised by the repaint from the original Marrone in oh-so-conventional Rosso Chiaro over beige leather which detracts from its value and the result here is all the money, a conclusion demonstrated by the fact it sat at the $250,000 final bid for over an hour with no late bidding at all.

Lot # 24 2008 Alfa Romeo 8C Competizione Coupe; S/N ZARJA181280039694; Competition Red/Black leather; Estimate $275,000 – $325,000; Unrestored original 2 condition; With Reserve; Not sold at Hammer bid of $230,000. – 4,691cc/450hp V8, paddle shift 6-speed, telephone dial alloy wheels, Red calipers, carbon fiber interior trim, PZero tires, fitted luggage, window sticker documented. – 3,693 miles and like new. Formerly in Doug Magnon’s Riverside International Automotive Museum. – Sold by Auctions America at Santa Monica in 2016 for $319,000 and by RM at Amelia earlier this year for $270,000 where it had 3,650 miles. The value trajectory evidenced by these three results is not encouraging for 8C Competizione owners.

Lot # 26 1957 Mercedes-Benz 300SL Gullwing Coupe; S/N 1980407500027; Engine # 1989806500320; Silver/Green leather; Estimate $1,000,000 – $1,300,000; Older restoration 2- condition; With Reserve; Hammered Sold at $1,140,000 plus commission of 10.00%; Final Price $1,254,000. – 2,996cc/240hp inline six, 4-speed, polished Rudge-style centerlock wheels, Michelin tires, Becker Mexico AM-FM radio, fitted luggage, hinged steering wheel, full belly pans, tools, books, manuals, work light and jack. – Restored in the late 90’s, color changed, Rudge-style wheels and sport camshaft added. Used sparingly since and in remarkable condition with only a few easily ignored flaws in the paint, body trim and upholstery. The inconsistent engine number is attributed to an assembly line error that also appeared in the cars before and after it in the early 1957 chassis number sequence. Desirably maintained, extensively serviced in 2019 and likely to be very satisfying. – A marvelous restoration of a sound and preserved original car that has survived extremely well with limited use and regular care, this result is a realistic response to its presentation and quality even while the $1.14 million hammer bid neatly splits the $1-1.3 million presale estimate range.

Lot # 27 1934 Ford Model 40 Station Wagon; S/N 181003657; Cordoba Grey; Estimate $90,000 – $120,000; Unrestored original 3 condition; With Reserve; Not sold at Hammer bid of $70,000. – 221/85hp V-8, 3-speed, single sidemount, clock, side curtains, black wire wheels. – All original except the varnish on the wood and a particularly choice piece. 5 owners from new and stored for many years, formerly owned by Nick Alexander. Even the side curtains are original. The paint is buffed through in places and the upholstery is torn and stiff but largely complete. Neat, lightly oil misted engine compartment and chassis. – Sold by RM from the Nick Alexander collection at Monterey in 2009 for $110,000 where it showed 41,692 miles. It would appear that the Nick Alexander provenance and really impressive preservation didn’t survive a second exposure, but the reported high bid here is less than it should have brought even without the Alexander Collection hype of 2009.

Lot # 28 1989 Ferrari 328 GTS Spider, Body by Pininfarina-Scaglietti; S/N ZFFXA20A7K0082233; Red/Beige leather; Black roof panel top; Estimate $175,000 – $225,000; Unrestored original 2- condition; No Reserve; Hammered Sold at $145,000 plus commission of 10.00%; Final Price $159,500. – 3,185/270hp, 5-speed, air conditioning, power windows, heated rear window, Alpine cassette stereo, manual, tools, window sticker, jack, spare. – One owner from new, 850 miles, reportedly driven once a month during good weather. Belt serviced in 2006. Very good original paint and interior. The engine compartment is clean but the chassis shows evidence of wear and some oil mist. A rare find. – 850 miles in thirty years computes out to something like 2.4 miles per month, maybe 4.8 miles per good weather month, not enough even to warm it up and get the fluids flowing. This result, however, is a strong premium on the order of 40% for the low miles and preservation.

Lot # 30 1985 Ferrari 308 GTSi QV Spider, Body by Pininfarina-Scaglietti; S/N ZFFUA13A6F0053675; Black/Black leather, red piping; Black roof panel top; Estimate $55,000 – $75,000; Unrestored original 3+ condition; With Reserve; Hammered Sold at $59,000 plus commission of 10.00%; Final Price $64,900. – 2,927/230hp, 5-speed, 5-spoke alloy wheels, Alpine cassette stereo, air conditioning, power windows, Goodyear tires, tool roll, jack, spare, books. – Scratched, edge chipped, pitted paint. Very good original interior. Road grimy, oily and scratched underbody and chassis. 10,233 miles from new, belt serviced last year with about 10,000 miles, but it looks much more used. – The reserve was met on this 308 GTSi QV at $50,000 bid with nearly two hours to go but bidding returned and was extended to this result a little over the $55,000 low estimate. It’s an intriguing example and at least it’s not red. Both the buyer and the seller should be satisfied with this result.

Lot # 33 2005 Ferrari 575M Maranello Coupe; S/N ZFFBV55A250141041; Grigio Titanio/Beige leather; Estimate $275,000 – $350,000; Unrestored original 3+ condition; With Reserve; Hammered Sold at $250,000 plus commission of 10.00%; Final Price $275,000. – 5,748/515hp, 6-speed, Fiorano Handling Package, Daytona-style seats, SF shields, 19-inch modular wheels, air conditioning, Becker CD stereo, leather upholstered luggage shelf, books, tools, window sticker copy documented, Assembly No. 58737. – 9,067 miles and they show. Upholstery is lightly burnished and creased. Engine compartment is clean and in showroom condition. Scratched right sill and splitter. Some nose stone chips. Scraped wheel rims. Sticky interior switches. A desirable car but showing its age and some use. – While a comparable 575M Maranello with the paddle shifter and low (but not negligible) miles is a $100,000 car the 6-speed (one of 246 built, so not exactly hen’s teeth rare) doubles the price as reflected here. The low miles (about 600/year) raises some question about just how enjoyable the 6-speed is to drive, or is it just being bought for show?

Lot # 34 1962 Chevrolet Impala Convertible; S/N 21867S141755; Engine # S4141755T1107QB; Ermine White/Red vinyl, cloth; White vinyl top; Estimate $90,000 – $110,000; Older restoration 2 condition; With Reserve; Hammered Sold at $66,000 plus commission of 10.00%; Final Price $72,600. – 409/409hp, dual quads, 4-speed, Rally wheels, Radial T/A tires, pushbutton radio, rear antenna, heater, bench seat, knee-knocker tach. – Meticulously restored some time ago and maintained in show-ready condition as it came from the factory. Although no representation of the drivetrain’s originality is made the engine number is appropriate to the chassis and its current configuration. When found found the Impala’s condition was probably drag racing used. Excellent paint, upholstery, engine compartment, chassis and underbody. There are minor chips by the door handles that could be minimized with careful touch up. An exceptional and unusual Chevy. – All things point to a replacement engine and driveline, including the price realized and the seller’s willingness to let it go 27% under the $90,000 pre-sale low estimate. Neither does anything in the description claim that it was, in fact, originally 409/409hp equipped. All of that uncertainty makes the price here entirely appropriate as the bidders kept their counsel and bidding was slow.

Lot # 37 1975 Lancia Stratos HF Stradale Coupe, Body by Bertone; S/N 829AR0001599; Engine # 829A000001089; Blue/Beige vinyl, cloth; Estimate $350,000 – $450,000; Visually maintained, largely original 3- condition; With Reserve; Hammered Sold at $410,000 plus commission of 10.00%; Final Price $451,000. – 2,419/190hp, 5-speed, dull gold alloy wheels, Pirelli tires, – Represented as the original engine. Repainted long ago from the original dark blue with casual overspray on the chassis. Worn but sound original upholstery, foot scuffed door panels. Good gauges with clear lenses and crisp legends. In Japan for some time in the 70’s, with the current Bay Area owner since the early 80’s, stored since 1993 and looks like it. Not running and in need of comprehensive attention but all there and a straightforward (if expensive) project. – The reserve was met on this Stratos at $345,000 with two hours to go in the scheduled bidding and the bids stayed there until it bumped to $350K with 31 seconds left in the timed bidding. It then proceeded fairly quickly to the successful bid. While it won’t be inexpensive to recommission this Stratos after its long dormancy both the pre-sale estimate and the successful bid recognize the challenges and are reasonable.

Lot # 40 1937 Ford Model 78 Deluxe Cabriolet; S/N 5430114; Black/Light Tan; Beige cloth top; Estimate $45,000 – $65,000; Older restoration 3+ condition; With Reserve; Not sold at Hammer bid of $29,000. – 221/85hp, 3-speed, hubcaps, trim rings, whitewalls, fog lights, rumble seat, banjo spoke steering wheel, clock, radio. – Very good older paint, chrome and interior. Good gauges and dashboard. The chassis is fully restored and shows light evidence of some road miles. 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. This is a classy and usable weekend cruiser. – The bidding was stalled at the final result with over two hours left until the scheduled close, and stayed there, a sign no one was interested which is unfortunate because it is a handsome, practical and desirable Ford. The seller wisely preferred the Ford to this paltry bid.

Lot # 41 1964 Ferrari 250 GT/L Lusso Coupe, Body by Pininfarina-Scaglietti; S/N 5931; Engine # 5931; Amaranto/Beige leather; Estimate $1,400,000 – $1,800,000; Older restoration 3+ condition; With Reserve; Hammered Sold at $1,300,000 plus commission of 10.00%; Final Price $1,430,000. – 2,953/240hp, 5-speed, chrome spoke Borrani wire wheels, Marchal headlights and fog lights, Ansa exhaust. – Represented as the original matching numbers engine (internal number 2206/62E) and rear axle. Restored about six years ago and used since, there are paint flaws including chips on the hood corners, around the fuel filler cover and some microblisters in the paint. The windshield is sand chipped. Good lightly stretched upholstery. Some of the trim chrome is weak. It’s a quality driver Lusso. – This is a better than driver-quality Lusso price, particularly for an example with no evidence of external analysis of its quality other than Marcel Massini’s ownership and exhibit history. There’s no Ferrari Classiche, no FCA, no Cavallino Classic, just the owner’s representation of the original engine and rear axle, nor are these the original colors.The bidders leaned heavily on weak reeds in valuing it at this price which is close to expensive.

Lot # 49 1956 Maserati A6G/2000 Spider, Body by Frua; S/N 2180; Engine # 2146; Red, Ivory hood stinger/Ivory leather; Ivory vinyl top; Estimate $2,000,000 – $2,750,000; Older restoration 1- condition; With Reserve; Hammered Sold at $1,720,000 plus commission of 10.00%; Final Price $1,892,000. – 1,985/160hp inline six, three Weber 40DCO3 carburetors, twin-plug head, 4-speed, chrome spoke Borrani wire wheels, Pirelli tires, – At one time 289 Ford powered, now with an appropriate A6G engine, gearbox and differential. 2008 Villa d’Este class winner. The paint is far better than new, upholstery and chrome are impeccable. Underbody is painted grey like new. A high quality older restoration no longer ready for the concours field with age and careful use showing but still an outstanding, beautiful automobile – Last seen at Bonhams Quail Lodge auction in 2017 where it was bid to $2,350,000, this is an exceptional automobile with a refined drivetrain, chassis and beautiful Frua coachwork, the prototype for the following series production of just nine examples. It is an extraordinary automobile and neither the buyer nor the seller should feel regret over this price.

 

Lot # 51 1954 Alfa Romeo 1900C SS Sprint Coupe, Body by Touring; S/N AR1900C01823; Engine # AR130800867; Yellow/Blue leather, Grey cloth; Estimate $240,000 – $280,000; Concours restoration 1- condition; With Reserve; Hammered Sold at $200,000 plus commission of 10.00%; Final Price $220,000. – 1,884/115hp inline 4-cylinder, dual Solex carbs, uprated cams, 4-speed, Nardi floor shift, silver painted wire wheels, Pirelli tires, Nardi woodrim steering wheel, tool roll. – Good older paint with some flaws, small edge chips and cracks. Flush panel fits, even gaps, bright chrome with thin rear bumper plating. Good gauge bezels but faded lenses and peeling faces. Beautiful engine compartment. Some chassis paint loss and age. Concours restored some time ago with little subsequent use. – Bid to $210,000 live and reported closed later with this all-in result. This is an appealing Alfa Romeo even with some oversights and age and it brought a moderate but realistic price for its style and condition.

 

Lot # 53 1972 Ferrari 365 GTC/4 Coupe, Body by Pininfarina; S/N 15609; Engine # 00405; Silver/Beige leather; Estimate $200,000 – $240,000; Visually maintained, largely original 3 condition; With Reserve; Hammered Sold at $185,000 plus commission of 10.00%; Final Price $203,500. – 4,390/340hp, 5-speed, alloy wheels, Michelin tires, power steering and brakes, air conditioning, power windows, Becker Mexico cassette stereo, books, tools, jack. – Reportedly serviced at a cost of nearly $40,000 since 2018. Fresh clearcoat over the original paint with chips and some masking holidays, good and only lightly worn upholstery and interior trim. Weak exterior chrome trim. Orderly but not restored engine compartment with an oil puddle on the crossmember. Oily but clean chassis. A C/4 driver. – Sold by Gooding at Amelia in 2018 for $242,000 with 18,937 miles, it has 19,993 miles today and is essentially the same. So is the result it brought, a price that reflects a weak market and a lacklustre reception by the bidders here which reached this bid with four hours to go and never advanced.

Lot # 60 1970 Ferrari 365 GT 2+2 Coupe, Body by Pininfarina; S/N 13269; Engine # 13269; Grigio Mahmoud/Beige leather; Estimate $160,000 – $200,000; Older restoration 3+ condition; With Reserve; Hammered Sold at $145,000 plus commission of 10.00%; Final Price $159,500. – 4,390/320hp, 5-speed, centerlock alloy wheels, Carello headlights, woodrim steering wheel, Blaupunkt pushbutton radio, power windows, Ansa exhaust. – Represented as matching numbers. Tiny ding in the front left bumperette. Small chip at the bottom of the driver’s door. Plating is coming off the left rear wheel lock. Light amount of dirt underneath but not bad. Lightly worn front seats but otherwise sound restored interior. Fully restored but used since and no longer a stunner, so it would be best used as an event car or casual driver. – Repoorted sold back in 2006 by Coys at Nurnberg for $98,048 (Euros 77,300, this result is Euros 136,900), then by Bonhams at Quail Lodge in 2017 for $220,000 (Euros 187,500 at at the time) with 79,684 km showing, it has 82,363 km in the current online photos. This result is Euros 136,900 so whether Euros or dollars, this is a substantial drop for a car with very few more kilometers recorded and no appreciable decline in its condition or increase in its odometer reading. The bidding was as lacklustre as the car’s condition and history.

Lot # 62 1952 Alfa Romeo 1900C Cabriolet, Body by Pinin Farina; S/N AR1900C01063; Engine # AR130800132; White/Red leather; Black cloth top; Estimate $250,000 – $350,000; Unrestored original 5 condition; With Reserve; Not sold at Hammer bid of $175,000. – 1,884/115hp DOHC inline-4, dual carburetors, column shift 4-speed, underdash radio, woodrim steering wheel, wire wheels. – One of 88 cabriolets built by Pinin Farina on this chassis. Acquired by Barbara Urbielonis, an American teaching at a U.S. base in Germany and still apparently owned by her (or her estate). Parked in a New Hampshire barn in 1983. A totally neglected, rotten, dilapidated, scruffy relic. Rust everywhere, perforated body wherever New England salt-encrusted road sand could accumulate. Nasty, torn, filthy upholstery. More description is unnecessary. This is a complete restoration project with much of the car’s pieces being useful only as templates for making new ones, more a reconstruction using original ID tags and engine block than a restoration. – This Alfa is a total rust bucket. The body style isn’t rare, nor is it particularly attractive. The pre-sale estimate was ridiculous. Comparable cars in the past two years have never brought more than the reported high bid here, and they were drivable automobiles. The bidding stalled with 3 1/2 hours to go and never advanced. This is not a Preservation Class candidate, it’s a rust bucket that will cost a fortune to be made into anything even remotely usable, not to mention safe to drive. The reported high bid was a gift without any rational support for it.

Lot # 64 1954 Jaguar XK 120 Roadster; S/N 674347; Engine # F11388; Ivory/Black leather; Black top; Estimate $25,000 – $40,000; Unrestored original 5+ condition; No Reserve; Hammered Sold at $61,000 plus commission of 10.00%; Final Price $67,100. – 3,442/160hp, 4-speed, (five) silver painted wire wheels, JDHT certificate documented. – Represented as the original engine. Barn find with peeling, dull original paint, dead chrome. The interior is cracked and torn but complete. The engine compartment is remarkably original and complete but dirty and oily, as is the chassis. Rusty underbody with some rust perforation. A complete car stored many years in a not particularly benign garage environment and needs everything. – Compared with the rust bucket Alfa 1900C Cabriolet a few lots before this is a complete car with limited rust and potentially a straightforward restoration project or a careful recommissioning to become a Preservation Class entrant. Bidding stalled at 4 minutes and $39,000, then extended and extended to this optimistic result.

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