Market Intelligence
Gooding Amelia: many valuable insights
Cliff Goodall’s view: Gooding auction house has changed its strategy, extending its Amelia Island auction to two days and planning events in Europe. The recent auction saw 123 of 131 cars sold, with a total revenue of $70.2 million.
It would appear that Gooding is changing its strategy: it has abandoned the auction in Arizona, it has extended Amelia Island to two days and is also planning a series of events in Europe. Confirmation of the pronounced competitiveness of the major auction houses in a flourishing market.
Let’s take a look at the two days of Amelia Island and try to interpret the data: two days, more cars on offer: up from 99 to 131, of which 123 cars were sold, equivalent to 93.89%. Turning to the values, in 2022, pre-auction estimates amounted to $65.5 million (€61.5m), while 2023 saw that figure rise to $82,620,000 (€77,588,450). However, in reality, some estimates hid “inflated” expectations, other top lots went unsold and most cars did not reach their minimum estimate. In the end, total takings amounted to $70,225,260 (€65,948,550), a new record for a sale on Amelia Island but quite far from the standard the Californian Auction House had accustomed us to. And the average price per car sold also fell from $731,148 (€686,620) 12 months ago to $570,937 (€536,165) today.
