Gooding achieved five million-dollar results including $3,586,000 for a 1967 Ferrari 275 GTB/4 Alloy in its Geared Online May 2021 classic car auction.
Gooding sold five cars for over a million dollar at the May 2021 Geared Online classic car auction — a rare online auction in which all the top cars managed to find new owners. The top result was $3,586,000 for a 1967 Ferrari 275 GTB/4 Alloy — the highest price paid thus far this year for a Ferrari in any public auction. A 2015 Porsche 918 Spyder sold for an above estimate $1,144,000 but still nearly 40% less than the same car achieved four years ago.
Gooding Geared Online Auction May 2021
Gooding staged its Geared Online May 2021 classic car auction between 3 and 7 May 2021. It was an online bidding-only sale with lots closing over a period of several days. However, in contrast to many other auctioneers, Gooding assembled all cars on offer in a central location in California where in-person inspection was possible before the auction.
Gooding realized $16,202,500 in the auction by selling 84 of the 87 lots for a remarkably high 97% sell-through rate and an average price of $192,886. Gooding not only sold five cars for over a million dollars in the auction but for once, all the top cars in a major online sale were actually sold.
Gooding has not participated in the 2021 Amelia Island auction week, which had been postponed from the regular mid-March to late May this year.
Top Results at Gooding Geared Online May 2021
The top five results at the Gooding Geared Online May 2021 classic car auction were:
|Year||Car||Price ($)||Estimate ($)|
|1||1967||Ferrari 275 GTB/4 Alloy||3,586,000||3,750,000 – 4,500,000|
|2||1955||Ferrari 250 Europa GT||2,222,000||2,200,000 – 2,600,000|
|3||1957||BMW 507 Series II||2,200,000||2,250,000 – 2,750,000|
|4||1961||Mercedes-Benz 300 SL Roadster||1,232,000||1,100,000 – 1,300,000|
|5||2015||Porsche 918 Spyder||1,144,000||900,000 – 1,000,000|
Million-Dollar Results at Gooding Geared Online May 2021
Gooding managed to sell all five cars with pre-sale estimates above a million dollar in the Geared Online May 2021 sale. Gooding also managed sellers’ expectations well with realistic estimates taking into account the current state of the market.
1967 Ferrari 275 GTB/4 Alloy
The top result in the Gooding Geared Online May 2021 sale was $3,586,000 paid for a 1967 Ferrari 275 GTB/4 Alloy. Somewhat remarkably, this is the highest Ferrari result thus far in 2021 and the eighth most-expensive car sold at public auction in 2021. Four Ferrari 275 GTBs sold at auction thus far this year — three by Gooding with this alloy GTB/4 by far the most expensive.
This 1967 Ferrari 275 GTB/4 alloy four-cam, chassis 10025, was the 9th example built (of only 16) and was delivered new to Switzerland finished in the elegant color scheme of Celeste over blue leather. During the early 1970s, well-known Ferrari dealer and customizer Tom Meade acquired the 275 GTB/4 and upgraded it, fitting an external fuel filler and competition-style Borrani wire wheels – features the car still retains to this day. Later exported to the U.S., 10025 was eventually sold to respected collector and vintage racer Pat Hart of Seattle, Washington, who conducted an extensive decade-long, show-quality restoration that resulted in the exquisite Ferrari seen today.
Presented in outstanding condition, and retaining its matching-numbers engine, the alloy-bodied Ferrari is presented in a dark red livery with light beige upholstery. It is accompanied by a proper set of owner’s handbooks, tool roll, jack, and report produced by Ferrari historian Marcel Massini.
1955 Ferrari 250 Europa GT
The 1955 Ferrari 250 Europa GT sold for a strong $2,222,000 — Gooding described it a “time-capsule sports car”, maybe code that this unrestored car will need significant further investment to bring it back to respectability. Showing just 33,671 kilometers from new, the Ferrari has been virtually untouched since the mid-1960s, retaining its California black plates, and captivating details from a 1959 Automobile Club d’Italia sticker to the original Pirelli hoses in the engine bay.
This Europa GT, chassis 0413 GT, is a unique example that possesses several distinguishing characteristics, including a special instrument arrangement and an unconventional taillight treatment. According to the research of Ferrari historian Marcel Massini, this Ferrari was completed in October 1955, finished in the color scheme of Grigio Metallizzato over orange leather, and delivered to its first owner in Genoa, Italy. While little is known of the car’s earliest years, the Europa GT was allegedly built for one of Ferrari’s most important early patrons – Dr. Enrico Wax, the official Italian distributor for Johnnie Walker whisky and Moët & Chandon champagne.
In the late-1950s or early-1960s, 0413 GT was exported to the US and was acquired by a private collector from Southern California. Amazingly, he retired the Ferrari from road use in the mid-1960s and simply preserved it as a static display in their small private collection, which included a variety of American classics, postwar Fords, and even another early Ferrari – almost all in original, unrestored condition.
1957 BMW 507 Series II Roadster
The 1957 BMW 507 Series II Roadster sold for a good $2,200,000, as another strong result for a 1950s BMW roadster. Between 1956 and 1959, only 254 examples of the 507 were manufactured and auction results above two million dollars are increasingly common.
The Series II models were originally developed as a separate model for the American market and became the production standard in mid-1957. They boasted a revised dashboard layout, more streamlined stowage for the convertible top, and a relocated fuel tank that increased interior space. This 507, chassis 70073, was originally delivered new to Rome, finished in Silbergrau (Silver Grey). Later imported to the U.S., this 507 had a well-documented history and has been owned by noted car collectors including software mogul Frank Pritt.
The BMW remains in beautiful condition, with attractive metallic blue paint paired with beige upholstery and a dark blue top. Beyond its elegant presentation, this is an unusually correct example, which features its original data plate, body tag, and under-hood tool kit with proper Hazet components. A rarity among 507s, this Series II car is still powered by its matching-numbers engine per BMW Classic records.
1961 Mercedes-Benz 300 SL Roadster
New, the BMW 507 failed to compete but as the fair $1,232,000 result for the 1961 Mercedes-Benz 300 SL Roadster shows, owners of the far more rare BMW 507 now have the advantage.
This 1961 Mercedes-Benz 300 SL Roadster is a disc-brake, iron-block example, of which approximately 270 were produced. Delivered new to Southern California, this low-mileage, black-plate 300 SL was completely restored under the ownership of Dr. Philip Lutfy, an esteemed Mercedes-Benz collector who has owned over 100 high-quality examples of the marque.
The SL’s restoration was carried out by leading Mercedes-Benz experts and the process is well documented in an album of detailed photographs. Significantly, a copy of the original factory data card confirms that this 300 SL retains important original components, including its chassis, body, and engine.
Presented in Anthracite Gray Metallic (DB 172) over red leather upholstery, this magnificent 300 SL is outfitted with an optional hardtop, Becker Mexico radio, Hepco-style fitted luggage, as well as books and tools.
2015 Porsche 918 Spyder
The 2015 Porsche 918 Spyder sold for above-estimate $1,144,000 but at RM Sotheby’s Monterey 2017 the very same car achieved $1,842,500 to set a new model record. Only around 200 miles were added to the odometer between the two sales. As with the Ford GT and several McLarens, modern limited-edition hypercars values seem to drop like a stone after the first ones went to the market.
This 918 was the 89th of 918 built and one of the first of 294 delivered to the USA. It was finished in Basalt Black Metallic/Onyx leather.
Gooding’s next online auction is the London-based UK Geared Online sale in June while Gooding & Company will present their 17th annual Pebble Beach Auctions at the 70th Pebble Beach Concours d’Elegance as a regular live auction in mid-August 2021.