In a move that’s sure to send shockwaves through the collector car world, the renowned auction house Christie’s has announced its acquisition of Gooding & Company, the Santa Monica-based automotive auction powerhouse.
This partnership, set to be finalized before the end of 2024, will see Gooding & Company rebranded as Gooding Christie’s, marking a new era in the realm of high-end automobile auctions.
The merger of Christie’s, a global leader in fine art sales, and Gooding & Company, a premier player in the collector car auction space, is a testament to the growing significance of the automotive sector in the world of high-value collectibles.
With Gooding & Company’s impressive track record of record-breaking sales and Christie’s centuries-old reputation for excellence, this partnership is poised to redefine the landscape of collector car auctions.
David Gooding, the visionary behind Gooding & Company, expressed his enthusiasm for the acquisition, stating, “I am confident that our acquisition by Christie’s is the next step in our continued development as a global leader in this space. I look forward to working with Guillaume and the Christie’s team to achieve the next evolution of the Gooding & Company brand.”
This sentiment was echoed by Guillaume Cerutti, Christie’s Chief Executive Officer, who praised the legacy built by David Gooding and his team over the past two decades.
Founded in 2003 by David Gooding and his wife Dawn Ahrens, Gooding & Company has established itself as a force to be reckoned with in the collector car auction world. With regular events at prestigious locations such as Amelia Island, London, and Pebble Beach, where the auction house has been an official partner of the Pebble Beach Concours d’Elegance, Gooding & Company has consistently delivered exceptional results.
Over the years, Gooding & Company has set numerous car auction records for various makes and models, including:
– The most expensive American car ever sold at auction: a 1935 Duesenberg SSJ, which sold for $22,000,000
– The most valuable Bugatti: a 1934 Type 59 that sold for roughly $12 million USD in London in 2020
– The highest-priced Porsche: a 1970 917K that sold for $14,080,000 at Pebble Beach in 2017
– The most expensive Toyota: a 1967 Toyota-Shelby 2000GT that sold for $2,535,000 at Amelia Island, Florida in 2020
– A 1995 McLaren F1 that sold for $20,465,000 at Pebble Beach in 2021
These remarkable achievements are a testament to Gooding & Company’s expertise and dedication to the collector car market, and with Christie’s backing, the possibilities for future success are endless.
The acquisition of Gooding & Company by Christie’s is not the first instance of a major fine art auction house venturing into the collector car market. In 2015, Sotheby’s purchased a reported 25% stake in RM Auctions, which now operates as RM Sotheby’s, while Bonhams began regular automobile sales in 2000 following its merger with the auction house run by Robert Brooks.
These partnerships reflect the growing importance of the collector car market, which has seen its impact reverberate well beyond the hobby in recent years. The acquisition of a 55% stake in Barrett-Jackson by IMG, the sports, media, and entertainment giant, just two years ago, further underscores the increasing mainstream appeal of high-end automotive collectibles.
As the collector car market continues to evolve, the partnership between Christie’s and Gooding & Company is poised to set a new standard for excellence in the industry. With the combined expertise, resources, and passion of these two iconic brands, automotive enthusiasts can look forward to a future filled with groundbreaking auctions, record-shattering sales, and an ever-growing appreciation for the artistry and craftsmanship that defines the world’s most coveted collector cars.
