Gooding & Co Amelia Island auctions 2015 – results & analysis
$26.9 million for Gooding at Amelia Island in 2015 and a raft of world records claimed – but how did they really get on?
Gooding & Co’s Amelia Island was all about expectation in 2015. There were some bullish estimates and a quick glance at the figure could give a misleading picture. Reading Gooding’s record packed press release and then looking at some of the numbers – 75% of the lots sold in the bottom half of their estimate or below – could have provoked some confusion but the truth lay somewhere in between.
What did well?
In terms of results against estimate, there were a few notable sales. A race winning 1990 AAR/Toyota Eagle HF89 breezed through top estimate, as did a 1974 Volkswagen Thing, and a 1999 Ferrari F355 Spider Serie Fiorano. Limited production Ferraris continue to perform well (and we’ll bet you hadn’t heard of a Serie Fiorano – only 3 were made for Europe which will no doubt will pop up for sale soon) with a 2011 Ferrari 599 SA Aperta finding £785k with premium,and a 1997 Porsche 993 Turbo S found just under £300,000 underlining the popularity of Turbo charged Porsche.
Gooding were also kind enough to provide a list of the world records achieved although we are still dying to know who ratifies these records:
World Auction Records from Amelia Island
Lot 35: 1974 Porsche 911 Carrera 3.0 RSR, sold for $1,237,500
Lot 74: 2011 Ferrari 599 SA Aperta, sold for $1,155,000
Lot 52: 1996 Porsche 993 GT2, sold for $973,500
Lot 22: 1932 Lincoln KB Custom Stationary Coupe, sold for $836,000
Lot 78: 1990 AAR/Toyota Eagle HF89, sold for $660,000
Lot 32: 1974 Ferrari Dino 246 GTS, sold for $561,000
Lot 12: 1997 Porsche 993 Turbo S, sold for $440,000
Lot 39: 1994 Porsche 964 Turbo 3.6, sold for $330,000
Lot 64: 1951 Lotus Mk IIIB, sold for $247,500
Lot 45: 1985 Penske-March 85C, sold for $231,000
Lot 47: 1999 Ferrari F355 Spider Serie Fiorano, sold for $198,000
Lot 51: 1967 Mercedes-Benz 230 S, sold for $55,000
Lot 61: 1974 Volkswagen Thing, sold for $52,800
What “didn’t do so well”?
There were plenty of cars that didn’t meet auction house estimates and therefore presumably expectations, but let’s put this in perspective – most of them are still making big money and it could be argued that the estimates were getting ahead of the market. It only sems like weeks ago that market-watchers were commenting on too-high estimates – because it was only weeks ago…
The following came in under estimate or didn’t sell: 1961 Jaguar E-Type Series I Lightweight Replica (unsold), 1975 Porsche 911 Carrera 3.0 RS (£411,400 – a lot more is being asked for cars elsewhere), 1974 Porsche 911 Carrera 3.0 RSR (£841,500) , 1963 Mercedes-Benz 300 SL Roadster (£867,000), 1957 Mercedes-Benz 300 SL Roadster (£841,500), 1991 Ferrari F40 (£1,103,300), 1996 Porsche 993 GT2 (£661,980), 2005 Ferrari 575 Superamerica (£299,200), 1974 Maserati Bora 4.9 (£123,420 – bargain?), 1967 Ferrari 275 GTB/4 (£2,244,000), 1987 Lamborghini Countach 5000 QV (unsold). Not many bargains amongst that little lot (not an exhaustive list) we think you’ll agree – and all under estimate.
Patterns and trends
Activity and prices in the £500,000 – £3 million bracket are settling. Turbo charged Porsche hot property. Estimates still bullish.
You can see our pre-auction picks below.
|Sold over estimate||7||8.24%|
|Sold under estimate||46||54.12%|
|Sold in lower half of estimate||18||21.18%|
|Sold in upper half of estimate||4||4.71%|
|Sold in lower half of estimate or below||64||75.29%|
|Sold in upper half of estimate or above||11||12.94%|
|Sold at median estimate||3||3.53%|
|Sold within estimate – ACCURACY||25||29.41%|