Market Intelligence
Gooding in London. Misstep
London's Gooding Auction: Mixed Fortunes - A closer look at the 2023 Gooding London auction, revealing contrasting results and noteworthy sales, setting the stage for future success.
Cliff Goodall’s view
Dear Mr. Gooding, London is not Pebble Beach. Behind the glossy atmosphere of the event, surely David Gooding himself will have turned up his nose. Of course, the Pebble Beach Concours d’Elegance holds a special place as the premier event globally, but the figures from this recent sale in September can’t be ignored, especially when contrasted with the resounding success of the 2022 edition.
With a slightly higher number of cars offered compared to 2022 (40 vs. 37), the sales were truly disappointing – only one out of every two cars was sold, contrasting sharply with the impressive 78.37% success rate of the previous year. Worse still, the figures show just £9,614,250 in sales, a far cry from the £23,008,813 achieved in the previous edition (-58%). Of course, it must be said that the 2022 auction featured a standout Ferrari that went for over £7 million, while this year’s top lot was not even worth a third of that. However, this time around, many parameters seem to have taken a hit.
