Multi-million dollar sales and growing

July 22, 20223 min read
Multi-million dollar sales and growing
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Key takeaways

  • [8:51] David Gooding explains how he finds collector cars in barns that can sell for millions of dollars. 
  • [16:13] Why you may want to postpone restoring an original collector car.

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The collector car market continues to race toward multi-million dollar deals and since 2003, Gooding & Company has been in the driver’s seat. David Gooding – President and Founder of Gooding & Co founded the auction house which is acclaimed for selling some of the most exceptional and valuable collector cars in the world.

“We’re in this industry because we love it and it’s really all that any of us really want to do,” Gooding told The Yield Disrupters. 

“I can do more, and I can do it better,” Gooding said as he described the life-changing moment two decades ago while working out of the laundry room in his house when Gooding realized he had an opportunity to which he couldn’t say no.  

Gooding is a disrupter who helped shift the collector car auction world into high gear.  He says his plan really took off when he realized that the worst that could come from seizing the moment was that he would have to start all over again, saying yes he says became the easy choice. 

‘Enduring beauty and influence’

Today, Gooding & Company is known worldwide with more than $2 billion in total sales. 

Among the auction house’s most recent record breakers is a 1937 Talbot-Lago T150-C-SS Teardrop Coupe which holds the record as the most expensive French car ever sold at auction. 

Gooding generated an impressive $13.4 million for the rare car at the Gooding & Company Amelia Island auction this past March. “The sheer enduring beauty and influence of the Talbot-Lago T150-C-SS Teardrop Coupe is utterly incomparable,” Gooding told Yieldstreet at the time.  

More records could be broken at the upcoming prestigious Pebble Beach Concours d’Elegance in late August.   It’s considered the preeminent event on the global collector car calendar with auctions during the entire week of events that generate close to $350 million in sales and last year Gooding accounted for $107 million or a third of that.  Gooding & Company is the official auction house of the Pebble Beach Concours d’Elegance, an honor its held for almost two decades, and Gooding is respected for generating big sales.

“This year we’re certainly going to have some records. We probably have our largest sale that we’ve ever had consigned and our most valuable sale. But I don’t know that we will, I mean proof will be on the day. I don’t know if we’ll have any car that will exceed $20 million, but we will have more cars and a total value that will probably break some records so we’re excited about that,” Gooding said.

Between $10 and $12 million

A rare 1937 Bugatti Type 57SC Atalante could sell between $10,000,000 – $12,000,000.  Gooding says the Type 57SC, “was lighter, faster, and more technically advanced than the already superb Type 57. The supercharged Type 57SC variant offered even more exceptional performance, and by producing about 200 hp, was among the fastest production cars built before WWII.”  

This particular vehicle, Chassis 57523 possesses several unique characteristics, including its large Scintilla headlamps, fully skirted rear fenders, and, “beautifully sculpted tail” designed by Jean Bugatti himself. “Among these designs were the Atalante and Atlantic, widely regarded as two of the most attractive, influential, and recognizable automotive masterpieces of all time. Just 17 Type 57S chassis were originally supplied with Atalante coachwork,” Gooding said.  

For Gooding, every auction, each sale, starts with a passion for cars. He has assembled a team that shares his passion and the drive to make the auction experience the best one possible even when others have their doubts.  According to Gooding, it was the knowledge that there was a hunger in the industry for the kinds of car stories that they were going to tell and sell that helped put Gooding & Company into the fast lane. 

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