Market Intelligence
“America first"
The American automotive auction house, Gooding, achieved an impressive $36,098,000 in sales, selling 36% of the cars on offer at or above their initial estimates. The most expensive car sold was a 1995 Ferrari F50 for $3,222,500.
“America first” was Donald Trump’s campaign slogan during the 2016 election and it seemed like this year’s theme in Arizona as well. Indeed, despite the lack of some real gems, the American automotive auction house, Gooding, managed to take home the best result of the three majors (RM is Canadian while Bonhams is British), an impressive $36,098,000.
The percentage of cars sold rose from 85% to 89% and this is just the start. Gooding beat the other auction houses and brought out the best from the lots, selling 36% of the cars on offer at or above their initial estimates while some sales were truly astounding.
The global results shouldn’t fool anyone because it is, of course, closely related to the cars proposed as top lots: in 2018, three cars were sold above $5m while this year the most expensive one went for $3.2m. And this is where the difference in total sales lies, as in 2018 it was $48.2m.
