Market Intelligence
Gooding Monterey. A baby Maserati lights the fuse of success
The Gooding auction, held in Amelia Island, Florida, has exceeded expectations by selling a McLaren F1 for over $20m, despite only being estimated at $15m, and also selling an Allegretti children's car for $156,250, exceeding its estimated value of $30-$40k. The Gooding sale achieved an overall sales value of $106,674,160, or 84.45% of the estimate, while its competitor, RM, only achieved 75.85%. However, the Mercedes-Benz AMG CLK GTR Strassenversion was not sold, despite an estimated value of $8.5-$10m. The auction also featured a category of Midget Racers, which had a considerable following in America, and included examples such as a 1938 Richter that once belonged to Indy 500 legend Sam Hanks, which exceeded its estimate of $60-$80k by selling for $184,800.
The idea that Gooding, after a year and a half of online-only auctions (excluding London in September 2020) was going to be a success came as the third lot was wheeled out. Not a car, but a children’s car by Allegretti that faithfully replicated a Maserati 250F in 1:2 scale. Obviously, to justify the $30-$40,000 estimate (€25-€34,000 without reserve) it had very respectable characteristics: A Benelli 250cc engine, disc brakes on all four wheels (not even the original had them!), five-speed sequential gearbox capable of reaching speeds of up to 50 miles per hour (80 km/h). But the estimate was the last thing potential buyers were concerned with – after a short bidding war, the car was sold for $156,250 (€132,800)! Well done dad (or grandpa)!
At this rate, the sale was a success.
