Yes, $10 Million for a Used Car

The Good Life

  • 10 Talbot-Lago T150-C-SS Teardrop Coupes were built between 1937 and 1939.
  • The North American collector car market saw $2.2 billion in sales last year.
  • Gooding & Company has generated more than $2.5 billion in sales since 2003.

Automobile historians call it “The Teardrop,” but for about $10 million, one lucky buyer will call it “mine.”  The only way to lift the hood and kick the tires on this stunning and rare 1937 Talbot-Lago T150-C-SS is to attend the 2022 Gooding & Company Amelia Island auction on Friday, March 4.  Eager buyers can bid in person or online.

“The sheer enduring beauty and influence of the Talbot-Lago T150-C-SS Teardrop Coupe is utterly incomparable,” Gooding & Company President and Founder, David Gooding told Yieldstreet.

Gooding & Company, the official auction house of the prestigious Pebble Beach Concours d’Elegance, is a globally recognized firm specializing in selling some of the most desired cars to selective, sophisticated collectors worldwide.  

According to Gooding, the 1937 Teardrop Coupe is considered one of the most enduringly beautiful automobiles of all time.  The car resulted from a collaboration between Anthony Lago and Joseph Figoni, and Gooding called them visionaries who were stars of the Parisian automotive scene throughout the late 1930s.  

The T150-C-SS was sold as a bare chassis and priced in the same realm as the Alfa Romeo 8C 2900 and Bugatti Type 57S.  Coachbuilder Figoni et Falaschi designed the iconic Teardrop shaped body, “his undisputed masterpiece,” according to Gooding.  Only 10 of the Teardrop style coaches were commissioned for the T150-C-SS chassis.

This particular car was last offered for sale in 1950. Gooding said it presents, “A once in a lifetime opportunity to acquire a timeless automotive icon which has been owned and appreciated by connoisseurs from new.” 

Younger collectors driving sales

Hagerty Inc. (HGTY), an insurance company that provides coverage for antique automobiles, also tracks sales and trends in the collector car industry. The market in 2021, according to Hagerty, saw sales hit an estimated $2.2 billion in North America.  That’s almost double the $1.2 billion of sales in 2020 during the COVID-19 pandemic.  The firm says younger car collecting enthusiasts are helping drive sales higher. “Gen-Xers, millennials, and Gen-Zers now constitute the majority of people calling Hagerty for quotes on collector car insurance, and that majority continues to grow stronger.”

According to Hagerty, “Baby boomers remain highly active in the market and continue to dominate its upper echelons.”  It’s those monied elites that have helped Gooding generate more than $2.5 billion in sales since its founding in 2003.   They may also have their eyes focused on two rare Bentleys, both Concours award winners, which are being marketed to the world’s greatest connoisseurs of automotive design.

Art Deco masterpiece

The 1939 Bentley 4 1/4 Litre Sports Coupe pictured above is expected to sell for between $700,000 – $900,000. Gooding called it a one-of-a-kind masterpiece of Art Deco-inspired design. The motoring press at the time nicknamed the car “The Honeymoon Express” because it had power-activated window shades. This particular car underwent a full restoration completed in 2011.

The essence of 1950s luxury 

According to Gooding, the 1954 Bentley R-Type Continental Fastback crossing the auction block could sell for $2 million to $2.5 million.  He called the car one of the most beautifully designed automobiles of the postwar era.  The car had a top speed of 120 miles per hour and, with an original list price of $17,350, was the world’s most expensive production automobile.  Bentley built 192 R-Type Continental Fastbacks, and this specific car is one of 23 produced with left-hand drive.  Its first owner was American racer Bill Spear, and it was later sold to His Highness Prince Sadruddin Aga Khan, a Swiss-based collector.  The 1954 Bentley underwent a complete restoration in 2007 and earned the First in Class award at the Pebble Beach Concours d’Elegance two years later.

Gooding told Yieldstreet, “Our Amelia Island Auction is sure to be a historic moment in time, especially with the presentation of these examples of the very pinnacle of automotive design.”

Learn more about Yieldstreet

1. Year in Review: The collector car market got larger and younger in 2021, 12-31-2021 

All photos: Image copyright and courtesy of Gooding & Company. Photo by Mathieu Heurtault.

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