A 1958 Ferrari Spider will be the lead car at Gooding and Company’s 16th annual Pebble Beach classic car auction, which begins August 16 in California. The vehicle has an estimated auction value of $11 million to $13 million.
Last year, Gooding earned $116 million on 123 vehicles—an average per-car price of about $950,000. Twenty-five cars fetched prices of more than $1 million each during the event, which set 23 world auction records.
Collectible shoes are also commanding high prices. Recently, Sotheby’s launched an online auction of the 100 rarest pairs of sneakers ever created. The event was set to go through July 23, but Canadian entrepreneur Miles S. Nadal bought 99 of them for $850,000.
The 100th pair, a rare Nike “Moon Shoe,” ended up selling for $437,500. The price easily broke the world auction record of $190,373, which was set two years ago for a pair of Converse shoes worn by Michael Jordan in the 1984 Olympic basketball final.
Find out more about the connection between social mood and auction prices by reading “Art Prices Continue to Reach the Stratosphere.”
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