Gooding sells 1935 Duesenberg for American-car record price

Gooding sells 1935 Duesenberg for American-car record price

SSJ LaGrande roadster originally owned by Hollywood star Gary Cooper brings $22 million as auction action accelerates on Monterey Peninsula

Editor’s note: Follow all of the action and updates on our special Monterey Car Week page.

1936 Duesenberg SSJ formerly owned by a Hollywood star sells for an American-car auction record price | Gooding & Company photo

After a slow start Thursday, bidding picked up quite a bit Friday at the auctions on the Monterey Peninsula, sending overall sales $20 million ahead of year-ago figures, with the final day of bidding yet to unfold Saturday.

To date, the collector car auctions during Monterey Car Week 2018 have posted $191 million in sales, far ahead of the $171 million total through Friday a year ago, Hagerty reports.

“Gooding & Company provided much of the excitement for the evening with spirited bidding for the one-of-two 1935 Duesenberg SSJ LaGrande roadster as bids quickly rose in $250k increments to reach a final sale price of $22 million,” Hagerty noted in its daily auction report. 

“That makes it the most expensive American car and the most expensive pre-war car ever sold at auction.”

Hagerty, the insurance and valuation-tracking company, staffs each of the Monterey sales and issues a daily auction report.

Also Friday, RM Sotheby’s sold a 1963 Aston Martin DP215 Grand Touring competition prototype for nearly $21.5 million and the third-place finisher of the 1966 24 Hours of Le Mans – a 1966 Ford GT40 Mk II – for $9.8 million, as well as the 2013 Pebble Beach Concours d’Elegance Best-in-Show winner – a 1934 Packard Twelve Series 1108 Dietrich Convertible Victoria – sold for $3.7 million. 

1921 Stutz Series K Bearcat owned from new by the same family sold Friday at Bonhams for $430,000 | Andy Reid photo

“Bonhams did well selling a meticulously restored 1948 Alfa Romeo 6C 2500 Competizione coupe for $3.525 million. Another standout was the mostly original black-over-red 1955 Mercedes-Benz 300SL Gullwing coupe that sold for $1.9 million.

“At Mecum on Friday, Italian cars were the brightest stars with the 1969 Lamborghini Miura P400 S selling for $1.2 million and the 1973 Ferrari 365 GTB/4 Daytona Coupe selling for $825,000. A thoroughly wrecked 1987 Porsche 959 Komfort sold for $467,500”

Hagerty reported top sales at Russo and Steele on Friday as a 1956 Chevrolet Corvette for $77,000 and a 1999 Ferrari F355 F1 Sider for $71,500. 

“Originality proved to the most desirable feature in the cars auctioned at Monterey today,” according to the Hagerty wrap up. “Whether it was the 1935 Duesenberg SSJ that sold for more than twice its low-estimate or the 1948 MG TC that Bonhams sold for almost quadruple its low estimate, low-mileage unrestored cars were highly sought after. 

“Original low-mileage collections of Porsches and MGs sold for an average of 50 percent more than low-estimate at Bonhams. Gooding & Company sold low-mileage or original examples of production cars for strong money with a 2002 BMW M5 with less than 500 miles selling for $176,000 or 26 percent over its low-estimate, and a 1957 Citroen DS19 sedan selling for $192,500 or almost double its low-estimate. RM Sotheby’s sold an unrestored 1974 Ferrari Dino 246 GTS with only 8,300 miles for $401,000 or 34 percent over low-estimate.”

However, “Modern hypercars didn’t fare well. New Bugattis in particular appeared to be passé with Bonhams failing to sell a new Bugatti Chiron and Gooding failing to sell a 2010 Veyron 16.4 Grand Sport. Meanwhile, both RM Sotheby’s and Gooding & Company sold examples of the 2014 Ferrari LaFerrari for over $3 million, but at amounts that were below current Hagerty Price Guide values.”

Hagerty noted that more such cars on the dockets for auctions Saturday and that those “may better distinguish the winners from the losers among modern supercars.”

But the biggest attention of auction watchers Saturday will focus on RM Sotheby’s sale where a 1962 Ferrari 250 GTO crosses the block and could become the most expensive car ever sold at auction.

Overall through Friday from all auction companies

Cumulative total: $191.1 million

547/905 lots sold: 60 percent sell-through rate

Average sale price: $350,065

2017 Cumulative Results for Thursday and Friday

Cumulative total: $170.8 million

454/798 lots sold: 57 percent sell-through rate

Average sale price: $376,277

Overall top-10 sales from all auctions through Friday

1. 1935 Duesenberg Model SSJ Roadster sold for $22,000,000 (Gooding & Company)

2. 1963 Aston Martin DP215 Competition Prototype sold for $21,455,000 (RM Sotheby’s)

3. 1966 Ford GT40 Mk II Coupe sold for $9,795,000 (RM Sotheby’s)

4. 1958 Ferrari 250 GT TdF Coupe sold for $6,600,000 (Gooding & Company)

5. 1955 Ferrari 500 Mondial SII Spider sold for $5,005,000 (Gooding & Company)

6. 2007 Porsche RS Spyder Race Car sold for $4,510,000 (Gooding & Company)

7. 1955 Porsche 550 Spyder sold for $4,455,000 (Gooding & Company)

8. 1934 Packard Twelve-Series 1108 Dietrich Convertible Victoria sold for $3,745,000 (RM Sotheby’s)

9. 1931 Bugatti Type 51 Grand Prix Race Car sold for $3,740,000 (Gooding & Company)

10. 1948 Alfa Romeo 6C 2500 Competizione Coupe sold for $3,525,000 (Bonhams)

Results by auction company

Gooding & Company

Cumulative total through Friday: $65.4 million

50/64 lots sold: 78 percent sell-through rate

Average sale price: $1,308,956

Overall top-10 sales:

1. 1935 Duesenberg SSJ Roadster sold for $22,000,000

2. 1958 Ferrari 250 GT TdF Coupe sold for $6,600,000

3. 1955 Ferrari 500 Mondial SII Spider sold for $5,005,000

4. 2007 Porsche RS Spyder Race Car sold for $4,510,000

5. 1955 Porsche 550 Spyder sold for $4,455,000

6. 1931 Bugatti Type 51 Grand Prix Race Car sold for $3,740,000

7. 2014 Ferrari LaFerrari Coupe sold for $3,080,000

8. 2015 Porsche 918 Spyder Weissach sold for $1,650,000

9. 1963 Ferrari 250 GT Lusso Coupe sold for $1,485,000

10. 1956 Mercedes-Benz 300SL Gullwing Coupe sold for $1,127,500

2017 results through Friday

Cumulative total: $45.2 million

43/57 lots sold: 75 percent sell-through rate

Average sale price: $1,051,817

RM Sotheby’s

Cumulative total through Friday: $67.2 million

59/75 lots sold: 79 percent sell-through rate

Average sale price: $1,138,792

Overall top-10 sales:

1. 1963 Aston Martin DP215 Competition Prototype sold for $21,455,000

2. 1966 Ford GT40 Mk II Coupe sold for $9,795,000

3. 1934 Packard Twelve-Series 1108 Dietrich Convertible Victoria sold for $3,745,000

4. 2014 Ferrari LaFerrari Coupe sold for $3,305,000*

5. 1971 Lamborghini Miura P400 SV Coupe sold for $2,177,500

6. 1948 Tucker 48 Sedan sold for $1,820,000

6. 2014 McLaren P1 Coupe sold for $1,820,000

8. 1961 Ferrari 250 GT Cabriolet SII sold for $1,792,500

9. 1963 Ferrari 250 GT Lusso Coupe sold for $1,710,000

10. 1954 Mercedes-Benz 300SL Coupe sold for $1,380,000

* Charity car

2017 results through Friday

Cumulative total: $63.0 million

46/58 lots sold: 79 percent sell-through rate

Average sale price: $1,368,484

Bonhams

Cumulative total through Friday: $36.5 millon

105/135 lots sold: 78 percent sell-through rate

Average sale price: $347,742

Overall top-10 sales:

1. 1948 Alfa Romeo 6C 2500 Competizione Coupe sold for $3,525,000

2. 1937 Mercedes-Benz 540K Sports Roadster sold for $3,277,500

3. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,875,000

4. 1960 Ferrari 250 GT Cabriolet SII sold for $1,682,500

5. 1928 Bentley 6 1/2 Liter Open Sports Tourer sold for $1,655,000

5. 1953 Siata 208S Spider sold for $1,655,000

7. 1929 Bentley 4 1/2 Liter Sports Tourer sold for $1,435,000

8. 2015 Porsche 918 Spyder Weissach sold for $1,407,500

9. 1936 Mercedes-Benz 500K Touring Phaeton sold for $1,215,000

10. 1996 Porsche 911 GT2 Coupe sold for $1,105,000

2017 results through Friday

Cumulative total: $55.2M

86/109 lots sold: 76 percent sell-through rate

Average sale price: $641,685

Mecum Auctions

Cumulative total through Friday: $14.8 million

250/459 lots sold: 54 percent sell-through rate

Average sale price: $59,369

Overall top-10 sales:

1. 1969 Lamborghini Miura P400 S Coupe sold for $1,155,000

2. 1973 Ferrari 365 GTB/4 Daytona Coupe sold for $825,000

3. 1957 Chevrolet Corvette Convertible sold for $522,500

4. 1987 Porsche 959 Komfort Coupe sold for $467,500

5. 1957 Porsche 356A 1300 Super Speedster sold for $385,000

6. 1965 Porsche 356C 1600 SC Cabriolet sold for $297,000

7. 2011 Porsche 911 Carrera Speedster sold for $242,000

8. 1967 Jaguar E-Type SI 4.2 Roadster sold for $154,000

9. 1960 Porsche 356B (T5) 1600 Super Cabriolet sold for $148,500

10. 1964 Chevrolet Chevelle 300 Station Wagon sold for $143,000

2017 results through Friday

Cumulative total: $9.7 million

198/472 lots sold: 42 percent sell-through rate

Average sale price: $48,814

Russo and Steele

Cumulative total through Friday: $1.8 million

50/113 lots sold: 44 percent sell-through rate

Average sale price: $36,168

Overall top-10 sales:

1. 1932 Pierce-Arrow Model 52 Custom Club Berline Sedan sold for $176,000

2. 2007 Bentley Azure Convertible sold for $104,500

3. 1955 Chevrolet Bel Air Nomad Station Wagon sold for $93,500

4. 1962 Fiat Gilco Convertible sold for $88,000

5. 1965 Shelby Cobra Replica Roadster sold for $78,100

6. 1956 Chevrolet Corvette Convertible sold for $77,000

7. 1993 Land Rover Defender 110 SUV sold for $74,800

8. 1999 Ferrari 355 F1 Spider sold for $71,500

9. 2014 Lincoln Navigator Executive Stretch Limousine sold for $66,000

10. 1957 Ford Fairlane 500 Skyliner Retractable Hardtop sold for $59,400

2017 results through Friday

Cumulative total: $2.5 million

67/127 lots sold: 53 percent sell-through rate

Average sale price: $39,957

Worldwide Auctioneers

Total: $5.5 million

33/59 lots sold: 56 percent sell-through rate

Average sale price: $167,267

Overall top-10 sales:

1. 1931 Duesenberg Model J Derham Tourster sold for $1,320,000

2. 1962 Shelby Cobra 260 Roadster sold for $990,000

3. 1916 Locomobile Model 68 Cabriolet sold for $473,000

4. 1972 Ferrari Dino 246 GTS Spider sold for $341,000

5. 1968 Jaguar E-Type SI.5 Roadster sold for $247,500

6. 1958 Buick Limited Model 756 Convertible sold for $181,500

7. 1929 Packard Deluxe Eight-Series 645 Roadster sold for $176,000

8. 1967 Maserati Ghibli Coupe sold for $170,500

9. 1969 Chevrolet Camaro Yenko Sport Coupe sold for $165,000

10. 1965 Rolls-Royce Silver Cloud III LWB Sedan sold for $145,750

2017 results

Total: $7.6 million

51/73 lots sold: 70 percent sell-through rate

Average sale price: $148,226

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