Leading international auction house Christie’s has entered into an agreement to buy automotive auction specialist Gooding & Company. The statement by Christie’s reads: “Tracing the synergies between the classic car and art markets has, in part, triggered the ignition for an equally exciting and natural move within Christie’s luxury sector. Today (September 13th), Christie’s is pleased to announce that it has entered into an agreement to acquire Gooding & Company, the leading international auction house in the collector car market. The acquisition will mark a significant milestone for Christie’s, establishing its position in the rapidly expanding classic and collector car market and further solidifying its leadership in the broader luxury sector.”
“The affinity between the collector car market and art market extends to the shared values of Christie’s and Gooding & Company. Centred around the business of exquisite objects, both organisations are built on specialist expertise while fostering client relationships built with integrity and trust. Which tracks, considering the long-standing relationship between Christie’s and David Gooding.”
History
“There is something about the beauty, engineering and innovation of the perfect classic car that resonates well beyond the automobile expert. The lines, the form, the history — and that’s just at a standstill. Experience once at full throttle and it’s easy to understand why people become enamoured.”
“The thrill and passion that acquiring a classic car elicits is in many ways akin to collecting art. The appreciation for rarity, craftsmanship and provenance has seen the collector car market broaden and evolve in recent years, welcoming in a new audience tantalised by the promise of high-octane speed, stirring nostalgia and engineering prowess. For these burgeoning enthusiasts, the pursuit of classic and vintage cars and automobilia represents a particular articulation of a luxury lifestyle — one in which collectors seek out the exceptional, the most significant, and the rarest.”
The Co-Founder and President of Gooding & Company began his career in the auction industry at Christie’s, working his way up to become the global head of its International Motor Car division before briefly moving to RM Auctions. The husband-and-wife team of Mr Gooding and Chief Creative Officer Dawn Ahrens launched their eponymous company in 2003. The house has led the automotive auction industry ever since.
“We are delighted to be part of this full-circle moment for David, as he rejoins the Christie’s family,’ says Guillaume Cerutti, Christie’s Chief Executive Officer. ‘We have long admired the company that David and his exceptional team have built, as well as their way of doing business.’ Adding that, ‘Christie’s is confident that we will provide the opportunity for significant global growth. The legacy that David Gooding and his team have built over the past two decades is well admired by collectors internationally and we could not be more honoured to welcome them into the Christie’s family.”
Since its founding, Gooding & Company has dedicated itself to independently forging its reputation as a steward of exceptional automobiles. Through assurance and transparency, they have earned their recognition as global leaders in the automotive auction industry. Bringing in nearly $3 billion since their inception, Gooding & Company has consistently operated at the uppermost echelon of the collector car market throughout their tenure.
“When Dawn and I founded Gooding & Company 21 years ago, we built it on the pillars of integrity, quality and passion within the collector car market,’ says Mr Gooding. ‘I am proud of our tremendous growth within this industry, and I am confident that our acquisition by Christie’s is the next step in our continued development as a global market leader in this space.”
Experience
Headquartered in Santa Monica, the house has a strong global presence, bringing with it a highly trusted team of experts in New York, Paris and London. While the executive team alone averages 19 years of automotive auction experience, Mr Gooding notes that everyone, from the front-of-house team to marketing and press, shares a common devotion to the business of cars.
Like Christie’s, Gooding & Company offers an exhilarating blend of live and online auctions at every price point, providing a robust selection of automotive history and automobilia for every level of collector. Private sales are also offered through the auction house, for those looking for more discretion.
Along with its global team, Gooding & Company opens the doors to its extensive community of collectors, connoisseurs and industry experts surrounding its three annual marquee auctions, which take place during Pebble Beach Concours d’Elegance®, the Concours of Elegance at Hampton Court Palace and Amelia Island Concours Week. These multi-day destination events bring together the entire automotive community, punctuated by premier classic car auctions.
For nearly 75 years car enthusiasts have flocked to Pebble Beach every summer for what has been heralded as ‘the world’s premier celebration of the automobile.’ This year, Gooding & Company celebrated its 20th anniversary as the official auction house of Pebble Beach Concours d’Elegance®. The team, who oversaw one of their most successful sales to date, achieved a market-leading $108 million in sales.
Most recently, The London Auction, held at the prestigious Hampton Court Palace, brought in over £7.5million in total sales, with the 1933 Bugatti Type 43A Roadster ‘Sport Luxe’ setting a world record for a Type 43. While the house’s Amelia Island Auctions — widely considered to be the preeminent East Coast collector car auction — will next occur during the first weekend in March 2025.
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