Gooding & Company breaks world record for the highest sale total in automotive auction history with $113.7 million in Pebble Beach

Gooding & Company breaks world record for the highest sale total in automotive auction history with $113.7 million in Pebble Beach

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Gooding & Company breaks world record for the highest sale total in automotive auction history with $113.7 million in Pebble Beach PR Newswire PEBBLE BEACH, California, Aug.

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Gooding & Company breaks world record for the highest sale total in automotive auction history with $113.7 million in Pebble Beach
PR Newswire PEBBLE BEACH, California, Aug. 21, 2012
- Top two sales of the concours week over $11 million each - Average price per car sold is $1,033,966 PEBBLE BEACH, California,Aug. 21, 2012/PRNewswire/ -- Gooding & Company, the official auction house of the Pebble Beach Concours d'Elegance and acclaimed for selling the world's most significant and valuable collector cars, sold more than$113.7 millionat its Pebble Beach Auctions onAugust 18and 19. This is an outstanding achievement and a world record sale total for an automotive auction.
Twenty-four collector cars sold in excess of$1 million, highlighted by the von Krieger Special Roadster, a 1936 Mercedes-Benz 540 K, sold for $11,770,000, a double world record for a Mercedes-Benz and a pre-war car at auction. The previous evening, a 1960 Ferrari 250 GT LWB California Spider sold for $11,275,000, realizing a world record for a Ferrari California Spider. "There continues to be differentiation in the market between the best and everything else and I believe that our success stems from our understanding of quality in all categories," says David Gooding, President and Founder."Our record-breaking results and this year's unprecedented international interest in our auction clearly demonstrate the growing demand in high-level classic cars among new collectors and emerging markets." Ferrari was a big part of the weekend with eight models between 1953–1962 selling above$2 millioneach. A significant offering for enthusiasts, the Sherman M. Wolf Collection of four excetional cars resulted in a total of21.5
millionin sales.Of the collection, the 1960 Ferrari 250 GT LWB California Spider Competizione attracted the most demand selling for$11,275,000, which was also the second most valuable car sold ofPebble Beachauction week. On Sunday, the 1957 Ferrari 250 GT LWB California Spider Prototype sold for$6.6 million. About Gooding & Company Gooding & Company, internationally celebrated for its world-class automotive auctions, provides unparalleled service in the collector car market, offering a wide range of services including private and estate sales, appraisals and collection management.Gooding & Company will conduct its 2013 auctions on January 18and 19 inScottsdale, Arizona, onMarch 9in Amelia Island,Florida andAugust 17and 18 inPebble Beach, California.