Christie’s Enters the Collector Car Market with Gooding & Company Acquisition
Christie’s, a leading international auction house in the luxury and art sectors, has made a significant move by acquiring Gooding & Company, one of the world’s top auction houses for classic and collector cars. This acquisition further solidifies Christie’s leadership in luxury markets and positions it for growth in the rapidly expanding world of vintage automobiles. The announcement marks a crucial milestone in aligning the worlds of art and collector cars, highlighting the shared values of rarity, craftsmanship, and provenance that both industries celebrate.
A Shared Passion for Luxury and Craftsmanship
The decision to acquire Gooding & Company comes as a natural progression for Christie’s, a brand synonymous with fine art, jewelry, and other high-end collectibles. The collector car market has seen remarkable growth in recent years, attracting enthusiasts drawn by the engineering excellence, design, and history of classic cars. Much like fine art, these vehicles are cherished for their rarity, craftsmanship, and ability to evoke nostalgia.
Gooding & Company, led by David Gooding, has been at the forefront of the collector car auction market since its founding in 2003. The house has achieved global recognition for its integrity and expertise, with sales exceeding $3 billion and record-breaking auction results for prestigious brands like Ferrari, Porsche, and Bugatti.
A Legacy of Trust and Expertise
David Gooding’s connection to Christie’s is not new. He began his career at Christie’s as head of the International Motor Car division before founding Gooding & Company. His return to Christie’s as part of this acquisition represents a “full-circle moment,” as noted by Guillaume Cerutti, Christie’s Chief Executive Officer. The partnership brings together two prestigious names that are committed to fostering client relationships built on trust, integrity, and shared expertise.
Gooding & Company’s executive team, based in Santa Monica, boasts an average of 19 years of experience in the automotive auction industry, ensuring that the acquisition brings a wealth of knowledge to Christie’s luxury sector. The two auction houses will continue to offer both live and online auctions, providing a diverse range of vehicles for collectors of all levels.
Global Auctions and Record Sales
Gooding & Company hosts three major annual auctions: Pebble Beach Concours d’Elegance®, the Concours of Elegance at Hampton Court Palace, and Amelia Island Concours Week. Each event is a multi-day destination that brings together car enthusiasts, connoisseurs, and industry experts.
The Pebble Beach auction, considered the world’s premier celebration of the automobile, has been particularly successful. In 2023, Gooding & Company marked its 20th anniversary as the official auction house of the Pebble Beach Concours d’Elegance®, achieving $108 million in sales. The London Auction at Hampton Court Palace and the Amelia Island Auctions have also set new records, including a world record for a Bugatti Type 43A Roadster ‘Sport Luxe’.
The acquisition allows Christie’s to tap into the lucrative collector car market while broadening its reach across other luxury categories. With collectors seeking high-quality items across multiple sectors, the partnership between Christie’s and Gooding & Company will offer new opportunities for growth.
Collector Cars: An Appreciation of Art and Engineering
As collector cars continue to appreciate in value and meaning, the acquisition of Gooding & Company reflects the broader demand for exceptional craftsmanship, design, and historical significance. Much like the art world, classic cars are now seen as cultural artifacts, and their market growth parallels the rise of other high-end collectibles like jewelry and fine art.
David Gooding noted that the partnership will allow the company to reach new clients across different collecting categories, further cementing the connection between classic cars and luxury collectibles.
Looking to the Future
With its acquisition of Gooding & Company, Christie’s is poised to expand its influence in the global collector car market. The partnership signals an exciting opportunity for both companies to continue setting industry standards, offering collectors the chance to acquire rare, significant automobiles alongside fine art and luxury goods.
