Gooding & company porsche prices

[dicklague]

I just got the GOODING catalog in the mail for the Scottsdale Auction on Jan 17 & 18.

I know that early 911 and 356 prices are high, but I am amazed at some of the expected ranges on P cars in this Auction.

I will list a few examples:

Lot 5 1959 356A Convertible D $180,000 to 200,000

Lot 17 1973 911 E Targa $90,000-120,000

Lot 34 1968 911 L $140,000-180,000

Lot 110 1972 911S $150,000-180,000

Lot 114 356A Speedster $225,000-275,000

Lot 135 1965 911 $250,000-325,000



Lot 118 1962 VW 23 window bus $100,000-125,000

[CountD]

At this rate, I wouldn't be surprised if everything on that list went higher than predicted. The market is smoking right now, and two years ago these prices would have been laughable...

[geshaghi]

Gooding tends to offer some very nice cars in a festive atmosphere stocked with well-heeled bidders. Average sale price for all cars on offer is typically somewhere close to $1million/car. The estimates on these Porsches are less than the buyer's premium on a lot of cars they sell. So even though they may look expensive to those of us who remember when these were all less than $10,000 cars, the prices are not out of line.

[Six Gun]

"asking" or "expecting" ain't getting !!:d

[trader220]

You missed one of the lots ...

Lot I am dreaming.... 1987 Carrera Targa Guards Red 75k miles $80,000 to 100,000

[copbait73]

Yes, the reality is that the same guys who brought you the housing bubble and world wide financial collapse are using excess QE money to invest here.

[GregoryF]

$80-100K for an '87 Targa?!? Seriously? In Guards Red no less. What, did Steve McQueen lean on it once? I have a hard time believing that car will break $50K, but I don't know the car or the story so maybe I'm missing something. What I have come to learn after attending several auctions is this: The laws of supply and demand don't apply. Just because a car will normally sell for, say $20K in a normal private party transaction, do not expect to pay anywhere near that price at auction. Add 50%. Public auctions are designed to extract as much money as possible from the bidder. For some guys it is very hard to drop out of the bidding even when the price has gone to crazy levels after investing the time to get that far. Pride, or whatever you want to call it, keeps them in the bidding. A year ago at Russo and Steele Scottsdale I watched a 2002 Boxster S with 3500 miles (not a good thing in my opinion) that had been stored in a barn bring over $35K! This car had very low miles, but it was not perfect. It had a few dings on the fenders due probably to garden tools leaning against it and the plastic convertible top window was yellowed. This was a $15K car all day long. Auctions are fun, just not the place to find great deals.

[rw229]

I think he's just speculating on the future value of his latest acquisition.

Originally Posted by GregoryF

$80-100K for an '87 Targa?!? Seriously? In Guards Red no less.

Trader, That's a nice looking car. LMK if it ever goes on the block. I have an 86 coupe to trade, but the estimate is a bit higher at 100-120k. LOL

Originally Posted by trader220

You missed one of the lots ...

Lot I am dreaming.... 1987 Carrera Targa Guards Red 75k miles $80,000 to 100,000

[trader220]

Originally Posted by GregoryF

$80-100K for an '87 Targa?!? Seriously? In Guards Red no less. What, did Steve McQueen lean on it once? I have a hard time believing that car will break $50K, but I don't know the car or the story so maybe I'm missing something. What I have come to learn after attending several auctions is this: The laws of supply and demand don't apply. Just because a car will normally sell for, say $20K in a normal private party transaction, do not expect to pay anywhere near that price at auction. Add 50%. Public auctions are designed to extract as much money as possible from the bidder. For some guys it is very hard to drop out of the bidding even when the price has gone to crazy levels after investing the time to get that far. Pride, or whatever you want to call it, keeps them in the bidding. A year ago at Russo and Steele Scottsdale I watched a 2002 Boxster S with 3500 miles (not a good thing in my opinion) that had been stored in a barn bring over $35K! This car had very low miles, but it was not perfect. It had a few dings on the fenders due probably to garden tools leaning against it and the plastic convertible top window was yellowed. This was a $15K car all day long. Auctions are fun, just not the place to find great deals.

I was being sarcastic. I dont think my car is even a 50k or a 40k car and no one famous touched it as far as I know. Now my new Lindsey 17's will be here soon and I am working with FabSpeed on a GT3 Style twin center exhaust and I have a few other goodies lined up along the way but still its not a 40k car... at least not now.

[GregoryF]

Ah, sorry, I was thinking that was one of the lots that Gooding had listed.