Gooding announced the Geared Online classic car auction to include a Ferrari Enzo, F50, and F40 for early August 2020.
A 2003 Ferrari Enzo, 1995 Ferrari F50, and 1992 Ferrari F40 are the first cars announced for Geared Online, Gooding & Company’s first-ever online-only classic car auction. The auction will take place in early August with staggered bid closures rather than a live sale. Gooding’s annual premium Pebble Beach 2020 sale was canceled like most of the traditional mid-August Monterey Motoring week.
Gooding Geared Online Classic Car Auction 2020
Gooding & Company announced a new platform for auctions to be held exclusively through the company’s website and mobile bidding app. The inaugural event begins on August 3rd and ends August 7th, 2020, and will mark a new milestone for the auction house, which has seen success with online bidding during recent auction events. Gooding’s virtual auction series will complement the company’s annual live auction events and offer a selection of reserve and no reserve lots.
Gooding & Company plans to house all vehicles included in the online auction within one accessible setting, providing interested bidders with the unique ability for on-site inspections of each available lot.
With the Geared Online sale, Gooding seems to follow a similar auction format as RM Sotheby’s with the staggered closing of online bids over a few days, rather than Bonhams’ live auction format with online, phone, and commission bidding.
“Gooding & Company is excited to introduce this new format of online only auctions starting this summer and continuing in the months to follow. For sellers, online auctions offer great flexibility in terms of timing and the ability to reach a truly global audience,” states Gooding & Company President and Founder, David Gooding. “One of the key components of our sale plan is that we will have possession of the lots in our facility, allowing us to have a hands-on familiarity with each vehicle we are selling.”
Cars for the Gooding Geared Online Auction 2020
Early highlights in Gooding & Company’s first Geared Online sale feature a stunning trio of Ferrari supercars from a single collector. These modern Ferraris seem to perform well at online auctions and are probably easier to sell through online bidding than would be the case for say a California Spider or a major race-winning classic.
2003 Ferrari Enzo
The 2003 Ferrari Enzo (Estimate: $2,200,000 – $2,600,000) is a desirable US-specification example. This Ferrari is finished in rare and beautiful silver over tan and is offered from the family of its original owner.
Since it was introduced at the Paris Motor Show in October 2002, few modern supercars have captivated the world like the Ferrari Enzo. Like its predecessors, the Enzo was envisioned as a top-shelf limited-edition track car with road-readiness, built with a considerable implementation of lessons learned from Formula 1 racing. The 65° Tipo F140 engine was essentially a new 12-cylinder version of the concurrent eight-cylinder engine, and at nearly six liters of displacement, it was at the time the largest Ferrari engine since the 712 Can Am race car. Competition-bred features include Nikasil-lined cylinder walls, titanium connecting rods, and a telescoping intake manifold that boosts torque in certain scenarios. This technology paved the way for 651 hp and 485 lbs./ft. of torque, which in combination with the Enzo’s low weight produced shattering performance metrics: 3.3 seconds from 0 to 60 mph, with a top speed of 218 mph.
The top result at the RM Sotheby’s Driving into Summer 2020 sale was $2,640,000 for a 2003 Ferrari Enzo — an online-only auction record for any car.
1995 Ferrari F50
The 1995 Ferrari F50 (Estimate: $2,200,000 – $2,600,000) is one of only 55 US-specification examples built and is offered with its factory hardtop box, luggage, and tool kit. As with the Enzo in the sale, the F50 is also finished in silver.
Produced in extremely limited numbers, the F50 is distinctive among Ferrari supercars, as it is the only model in the lineage from 288 GTO to LaFerrari which boasts a naturally aspirated V-12 engine, six-speed manual gearbox, Pininfarina-designed bodywork, and an exhilarating open-air driving experience.
An unsuccessful highest bid of $2.2 million was given for a 1995 Ferrari F50 at the RM Sotheby’s Driving into Summer sale in May 2020. It was still available for $2.5 million after the completion of the sale.
1992 Ferrari F40
This 1992 Ferrari F40 (Estimate: $1,250,000 – $1,500,000) is one of just 213 US-specification examples built and benefits from minimal use with just 4,589 miles and single-family ownership from new.
The Ferrari F40 is one of the defining supercars of its era, setting standards for a production-based premium flagship sports-racer. Conceived in 1986 by Enzo Ferrari as a 40th-anniversary model, the F40 was developed from the prodigious twin-turbocharged 288 GTO, which was originally designed for competition. The new chassis was widened and infused with a greater use of carbon fiber, while the exterior shape was honed through extensive wind tunnel testing.
Monterey Motoring Week 2020
Most of the traditional Monterey Motoring Week events scheduled for mid-August 2020 were canceled. Gooding canceled the Pebble Beach 2020 Auction and replaced it with Geared, its first online-only auction ever. Bonhams Quail Lodge 2020 will be a live auction but behind closed doors (telephone, online, and commission bidding) while RM Sotheby’s plans a Shift/Monterey online-only auction.
Monterey 2020 Announcements
- Bonhams Quail California Streamin 2020 — 1959 Porsche 718 RSK
- Gooding Geared Online
- RM Sotheby’s Shift/Monterey
Major Online Classic Car Auctions in 2020
Some of the major classic car online-only sales by major auctioneers in 2020 include:
- September: Bonhams Brussels Sale, RM Sotheby’s Auburn Fall (Sales from September onwards may be traditional auctions if conditions allow.)
- June: RM Sotheby’s European – Results
- May: RM Sotheby’s Driving into Summer – Results
- March: RM Sotheby’s Palm Beach