An award-winning 1959 Ferrari 250 GT California Spyder was sold yesterday by Gooding & Company for more than US $3 Million, the top selling lot of the 2008 Scottsdale Auction Week.

An award-winning 1959 Ferrari 250 GT California Spyder sold yesterday for more than US $3 Million, the top selling lot of the 2008 Scottsdale Auction Week.

The inaugural Gooding & Company Scottsdale Auction was a stunning success, with a grand total of more than US$21 million for 64 cars sold, of which 7 cars sold for more than US$1 million individually. A world-record sale was also set for and Alfa Romeo 6C 1750 (US$1.54 million).

Additional highlights from the dynamic auction included the 1963 Ferrari 400 Superamerica and the Packard Individual Custom Eight Convertible, which each sold for more than US$1 million. The Model J Duesenberg "Clear-Vision" Sedan also broke the million dollar mark, due in part to its refined sedan body and its remarkable history.

Gooding & Company's star car, the 1959 Ferrari 250 GT LWB California Spyder, sold for US$3.3 million, the highest price paid during the week-long Scottsdale auctions as of press time. This vehicle was one of only fifty long-wheelbase California Spiders ever produced.

"We were thrilled by the exceptional turnout and results from our first Scottsdale auction. 90% of our cars sold for more than their estimate," said President and Founder David Gooding. "With 64 lots, the average price per sale exceeded US$330,000."

Additional note-worthy sales of the Gooding & Company Scottsdale Auction include the Ferrari 330 GTC Speciale by Pininfarina, which sold for US$550,000 and the one-of-a-kind 1941 Lincoln Continental Coupe designed by Raymond Loewy, which caught the attention of numerous auto aficionados and was purchased for US$451,000. Boasting an elaborate provenance, the Eisenhower/Nimitz 1934 Packard Super 8 1104 Touring dropped the gavel at an impressive US$231,000.

The day began with an elegant champagne breakfast where bidders and consigners feasted on everything from Rolls-Royces to Lamborghinis. The energy and excitement in the tent during the auction was contagious, as enthusiastic attendees from around the world anticipated their moment to bid in a standing-room only crowd of bidders. The impressive results of the auction established and insured Gooding & Company's continued presence at the 2009 Scottsdale Auction Week.

Gooding & Company hosted preview days open to the general public on Thursday, January 17, 2008 and Friday, January 18, 2008. The auction was held on Saturday, January 19, 2008 at Scottsdale Fashion Square.

Gooding & Company, the Santa Monica based auction house, provides unparalleled service for those in the close-knit world of classic car collecting, offering a wide range of services, including private and estate sales, appraisals, collection management and estate and tax planning assistance. The company has set numerous world records for sales at auction and by private treaty. Gooding & Company conducts the official Pebble Beach Auction at the annual Pebble Beach Concours d'Elegance on August 16 and 17, 2008. Gooding & Company also conducts live, intellectual property auctions for Ocean Tomo, a fully integrated intellectual capital merchant bank specializing in understanding and leveraging intellectual-property assets.