Here’s an example of just how hot the collector car market has become this year.
Santa Monica auction house Gooding & Co. has completed its 2012 auction season and reported sales of $189.6 million, an average of $640,635 for each of the 296 cars sold. The total is 44% higher than last year’s results, which also included 296 cars.
The auction house said the increase demonstrates the rising demand for collector cars as well as the selection of coveted vehicles compiled by Gooding this year.
“Our 2012 auctions attracted an unprecedented level of international spectators and new collectors, which shows us that there continues to be a growing demand all over the world for blue chip cars,” says David Gooding, president of the company.