Lifestyle

Christies reaches agreement to acquire classic auction car major Gooding & Company

by Trans World Features | @twfindia 30 Sep 2024, 07:52 am

New York: British auction house Christie’s has entered into an agreement to acquire Gooding & Company, the leading international auction house in the collector car market.

Founded in 2003 by the husband and wife team of David Gooding and Dawn Ahrens, Gooding & Company has earned global recognition as a leader in the classic car auction industry.

The company is known for its commitment to presenting high-quality consignments with exceptional integrity and transparency.

Gooding & Company takes pride in offering vehicles from some of the most prestigious collections, as well as treasured family heirlooms and exciting new discoveries.

1967 Toyota-Shelby 2000 GT sold for $2,535,000 at Amelia Island in 2022, a world record at auction for the marque and the most expensive Japanese car sold at auction. Photo courtesy: Christie's

This acquisition marks 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.

Christie’s and Gooding & Company are an ideal match, sharing values of specialist expertise, integrity and exceptional client service in the sale of exquisite objects, the company said in a media release. 

"This combination will provide Gooding & Company with an enhanced global platform to support its future growth and brand development. Gooding & Company remains committed to providing uninterrupted customer service of the highest level to its devoted clients, continuing with its existing calendar of prestige events, auctions and more," it said.

1937 Talbot-Lago T150-C-SS Teardrop Coupe sold for $13,425,000 at Amelia Island in2022, a world record for the marque and the most expensive French car sold at auction. Photo courtesy: Christie's

At the close of the transaction Gooding & Company will become known as Gooding Christie’s.

Guillaume Cerutti, Christie’s Chief Executive Officer said: Christie’s has long admired Gooding & Company and their way of doing business. 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 honored to welcome them into the Christie’s family. We are confident that the combination of resources will provide many opportunities for significant global growth."

1970 Porsche 917K sold for $14,080,000 at Pebble Beach in 2017, a world record at auction for the marque. Photo courtesy: Christie's

David Gooding, Co-Founder and President of Gooding & Company said: "When we founded Gooding & Company twenty-one years ago, we built it on the pillars of integrity, quality, and passion within the collector car market.

"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. I look forward to working with Guillaume and the Christie’s team to achieve the next evolution of the Gooding & Company brand."

1995 McLaren F1 sold for $20,465,000 at Pebble Beach in 2021, a world record at auction for the marque. Photo courtesy: Christie's

François-Henri Pinault, Chairman of Groupe Artémis said: "The ambition and values of David Gooding, and his team, align perfectly with those of Christie’s. They also correspond with those of the other businesses in which the Pinault family has long been invested, in the fields of art and culture, luxury, and lifestyle.

"We are excited to support the development of Gooding & Company and explore new collaborations."

The transaction is expected to close prior to the end of 2024.