Gooding Christie's Amelia Island Auction Achieves Over $67 Million in Sales with Record-Breaking Results
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Gooding Christie's, the automotive arm of global luxury leader Christie's, achieved remarkable success at its Amelia Island Auction, securing a total of $67.4 million in sales. Held on March 6th and 7th, this event marked the company's first official auction since its merger with Christie's and set a new standard in the collector car auction landscape.
With a sell-through rate of 93% from 144 lots, the auction saw sixteen cars exceed the $1 million mark. The top sale was a 1955 Ferrari 375 MM Berlinetta from the Fred Leydorf Collection, which fetched an impressive $9,465,000. This particular sale highlighted the auction's energetic atmosphere, driven by a fierce bidding battle that culminated in a telephone bidder clinching the deal for this historic Ferrari.
Another significant highlight was the sale of the 1989 RUF CTR 'Yellowbird', which set a new world auction record for the RUF marque by selling for $6,055,000. This sale not only surpassed previous records but also emphasized the growing market strength of modern performance cars. Additionally, the 1997 RUF CTR2 sold for $2,645,000, setting another record for the model.
The auction also featured notable sales of post-war European sports cars, including a 1963 Ferrari 400 Superamerica Series II Coupe Aerodinamico that sold for $2,535,000 and a 1964 Porsche 904 Carrera GTS, which went for $2,205,000. Moreover, the event showcased strong results for classic era cars, with a 1935 Avions Voisin C25 Aérodyne achieving a new world record for the model at $1,985,000.
Gooding Christie's President David Gooding expressed satisfaction with the auction's outcomes, noting the high quality of offerings and the spirited bidding across all categories. The event was not only a commercial success but also a demonstration of Gooding Christie's ability to attract top-tier collectibles and achieve premium prices.
The Amelia Island Auctions provided a vibrant start to the year for Gooding Christie's, reflecting the auction house's expertise and strategic approach in the collector car market. The success at Amelia Island sets an optimistic tone for future auctions, with the company looking forward to continuing its 2025 calendar, including the highly anticipated Porsche Air|Water Auction in April.
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Miami Herald
27-05-2025
- Miami Herald
Homebuyer survey: How Americans are budgeting, saving, and getting to the close
Homebuyer survey: How Americans are budgeting, saving, and getting to the close The process of buying a home is thrilling … and complicated. And in today's housing market, where home prices ascended steeply after mid-2020, would-be homeowners can sometimes feel like housing costs and interest rates are conspiring against them achieving their dream. After hitting a historic high at the end of 2022, the median price of a home sold at the end of 2024 was $419,200, according to Federal Reserve Economic Data (FRED) compiled by the Federal Reserve Bank of St. Louis. So how are homebuyers coping with the quest? To find out, SoFi surveyed 500 U.S. adults looking to buy a home.* Roughly half of respondents (55%) were in the market for their first home, while the rest (45%) were repeat purchasers. What SoFi learned: Finding a home that's affordable and financing the purchase are the biggest concerns, with more than 2 in 5 buyers saying their top challenge is home prices, and over a third saying that understanding different mortgage options is a chief concern. Read on for the lowdown on what buyers are wondering about-and what they are doing to master the home-buying process. Note: SoFi rounded percentages to the nearest whole number, so some data sets may not add up exactly to 100%. *The survey was completed in April 2024 and was conducted using a general U.S. population data set of 500 adults 18 and older. Key Findings Finding an affordable home and understanding mortgage options are the top challenges for are saving by cutting expenses, increasing savings, and finding additional income is widely used, with 65% using online listing platforms and 41% using online advice is sought, with 36% consulting financial advisors and 42% seeking real estate attorney challenges, 81% of homebuyers are optimistic about buying within budget in six months. Top home-buying challenges The number of active home listings in the U.S. took a dive during the COVID-19 pandemic, as homeowners hunkered down, complicating the buying-a-home process further. And although the market has recovered somewhat, available listings, which numbered around 829,000 at the start of 2025 according to FRED, are still well off the more than 1,033,000 active listings recorded in December 2019. This is just one of the factors that has contributed to upward pressure on home prices in many markets. Not surprising, then, that 42% of home-seekers say finding a home in their price range is their greatest challenge, according to SoFi's survey. And even if they find a place to buy, 14% of shoppers are struggling with inadequate savings for a down payment. If you're worried you need 20% for a down payment, you might be pleasantly surprised to learn that in late 2024, the median down payment was 15%, according to data from the National Association of Realtors (NAR), and the typical down payment for first-time buyers was 8%. In SoFi's buying-a-home survey, among those who were challenged to come up with a down payment, 49% hadn't explored down payment assistance programs-meaning they could be leaving money on the table. More than 1 in 10 respondents (11%) said an insufficient credit score was their greatest home-buying challenge. The same proportion said difficulty securing a mortgage is their main concern-and, of course, the two issues are interrelated. Mortgage lenders use credit scores to help determine eligibility and home loan interest rates. Ten percent of respondents said a lack of certainty about their job and future income was making home buying difficult. Navigating the process of buying a home A home is the biggest purchase most people will ever make, so it's no surprise that when asked which parts of the home-buying process were most confusing to them, the greatest number of respondents (41%) ranked finding the right property as their top issue. Thirty-eight percent were confused by mortgage options. True, there are many different types of mortgage loans and endless jargon (APR? FHA? DTI? The acronyms alone could short-circuit a homebuyer's brain.) Home inspection reports are confusing for 32% of people, while 31% are stymied by paperwork. Negotiating with sellers is a point of confusion for 31%, while 26% struggle with finding a real estate agent. Technology has been a help to many home shoppers. Almost two-thirds (65%) have used an online property listing platform such as Zillow or Redfin. Online lenders have helped 41% of respondents. And 39% have used virtual or augmented reality for property viewing, with 27% using drone photography. Virtual home tours are especially helpful to those who are buying a home without visiting it in person. Forty percent of respondents were willing to buy a home sight unseen if it meets their criteria and budget, but 39% are not (and 21% were iffy). Among those who were willing to shop from afar, most shoppers were savvy and planned to use one or more methods to mitigate risk: 55% would request additional info from the seller/real estate agent.49% would thoroughly research the property and neighborhood online.46% would hire a local pro to inspect the property.43% would explore virtual or augmented reality technology for property viewing.42% would seek advice from a real estate attorney about contracts and contingencies. Budgeting challenges and strategies Notwithstanding concerns about high home prices and inadequate down payment savings, fully 81% of homebuyers were very or somewhat optimistic that they would be able to purchase a home within their budget in the next six months. Sadly, about one in five buyers weren't feeling so hopeful. Creating a home-buying budget How much do homebuyers plan to spend on their new abode? With home prices already averaging over $400,000 and forecast to continue to rise moderately in 2025, more than 1 in 4 survey respondents (29%) were budgeting between $250,000 and $499,999. Fifteen percent of survey takers were looking for a bargain, planning less than $100,000. Another 23% thought they would spend between $100,000 and $249,999. A quarter of shoppers thought they would spend between $500,000 and $999,999, with 7% budgeting more than $1 million. 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Here's what shoppers were planning to spend. 7% of respondents were exploring zero-down-payment options.10% planned to put down less than 5%.19% planned to put down 6%-10%.30% planned to put down 11%-20%.23% planned to put down 21% or more.10% of respondents weren't sure how much they would put down. Buying a home with a small down payment is possible with planning, and some government-backed loans, such as VA loans (backed by the U.S. Department of Veterans Affairs), don't require a down payment. Lenders may also offer a low-down-payment option for qualified first-time homebuyers. Money-saving tips from homebuyers An overwhelming majority of homebuyers-92%-have made changes in their money habits in order to save money for their home purchase. About half (49%) have trimmed nonessential expenditures and almost the same number (45%) have increased contributions to their savings. A significant number (41%) have found a side hustle to earn more income, while 26% have downsized their current living situation. About one-fourth have sought help from family or friends. The survey suggests that buyers will continue to employ saving strategies after they close on a property, as ongoing homeownership costs were a significant concern for many respondents. Top worries included maintenance and repairs (a concern for 47%), followed by property taxes (46%), making mortgage payments (45%), affording home insurance (39%), and covering utilities costs (30%). One in four people said homeowners association costs were a concern. In fact, about 30% of U.S. housing stock is in a community governed by an HOA, according to NAR. Choosing a lender As homebuyers save money and search for a property, they're also carefully weighing the second most critical decision in the home-buying process: selecting a lender for their mortgage loan. Roughly 1 in 4 homebuyers is paying all-cash for their purchase, an all-time high, according to the NAR. But among those who must borrow, SoFi's survey found that interest rates were the top factor when comparing mortgage lenders. They were most important to 64% of respondents. Half of survey-takers said closing costs were a key factor, while 48% had their eye on closing costs when comparing lenders. Special programs and incentives were an important comparison point for 40%. Reputation and customer satisfaction were important to 39% of buyers. Getting to the loan approval Just over half of survey respondents (53%) had completed a full loan application in their current home-buying process. One in 4 (26%) had applied for a conventional loan, while slightly more (28%) had applied for an FHA loan, backed by the Federal Housing Administration. (Use of FHA loans by first-time homebuyers has declined significantly, from 55% in 2009 to 24% in 2024 according to NAR.) Twenty-three percent had applied for a loan backed by the United States Department of Agriculture (USDA), while 12% had applied for a VA loan. Some, of course, had applied for more than one type of loan, and a small percentage (5%) applied for a type of financing not listed here. Awareness of government-backed loan options was fairly strong, with almost half of homebuyers (49%) having heard of FHA loans, 41% being aware of USDA loans, and 38% having some knowledge of VA loans. Almost half (49%) were also aware of rent-to-own agreements, a less common form of financing. About a third (34%) were aware of interest-only mortgages. The takeaway Today's homebuyers are most concerned with the financial aspects of the home-buying process, with finding an affordable property, saving for the home purchase, and comparing lenders' interest rates topping their list of important factors. 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The five stages of buying a home are planning (setting your budget, determining your down payment), preapproval (getting preapproved for financing), searching (you'll find a real estate agent and identify a property), negotiating (you'll get an inspection and go back and forth with the seller), and finalizing (you'll solidify your financing and go to the closing table). Can I move in on closing day? You can move in immediately once you close on a house, as long as your contract doesn't stipulate a different occupancy date. What are closing cost fees? Closing costs are fees paid to the team that helps get you into your new home. These can include fees for the appraiser and title company, lender fees, and more. As a general rule, closing costs average 3% to 6% of your mortgage loan principal. What are the 4 C's when buying a home? 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San Francisco Chronicle
22-05-2025
- San Francisco Chronicle
Fred Warner signs his 3-year, $63 million extension with the 49ers
SANTA CLARA, Calif. (AP) — The San Francisco 49ers announced their three-year extension with All-Pro Fred Warner that makes him the highest-paid off-ball linebacker in NFL history. Warner signed the deal worth $63 million with more than $56 million guaranteed on Thursday, keeping him under contract with the team through the 2029 season. "Fred's leadership is exemplary and his approach to his craft is contagious,' general manager John Lynch said in a statement. 'Fred sets the tone for our entire team with the consistency, speed and physicality with which he plays. Off the field, his passion, energy, and professionalism are second to none and truly embody what it means to be a Niner. We are extremely proud to get this extension done and lock Fred in for the future.' The deal with Warner is the third extension San Francisco reached with one of its star players since the draft, having previously given quarterback Brock Purdy a $265 million, five-year extension and tight end George Kittle a $76.4 million, four-year deal. The Niners are hoping to bounce back from a 6-11 season and get back to their 2023 form when they made it to the Super Bowl for the second time since Lynch and coach Kyle Shanahan took over in 2017. 'We're here to stay, baby,' Warner said in a video posted by the team. 'It was a dream when I got drafted here in 2018 and it's still a dream to this day. I know we've been through some great times these first seven years but the story is only beginning. We know what we're after. Let's go chase it. Let's go get it.' Warner had two years remaining on the five-year, $95 million extension he signed in 2021 that was the richest at the time for an off-ball linebacker and ranked second to Baltimore's Roquan Smith before this new deal. The $21 million per year for Warner tops Smith's $20 million average to once again make Warner the highest-paid off-ball linebacker in terms of average annual value. Warner has shown he deserves it as he has developed into one of the top defensive players in the NFL after being drafted in the third round in 2021. He has been a first-team All-Pro the past three seasons and in four of the past five as one of the key cogs in San Francisco's defense thanks to his ability to thrive in both run and pass defense. The only active players currently under contract with more first-team All-Pro selections than the four for Warner are Bobby Wagner (six) and Tyreek Hill (five). Warner had 131 tackles, five tackles for loss, two interceptions, seven passes defensed and four forced fumbles last season despite playing most of the season with a broken bone in his ankle. Warner has 10 sacks, 10 interceptions, 15 forced fumbles, six fumble recoveries, 36 tackles for loss and 53 passes defensed in his first seven seasons. His 896 career tackles rank fourth most in the NFL since 2018 and has missed only one game in seven seasons. Warner is one of three active players with at least 10 sacks, interceptions and forced fumbles, along with Minnesota safety Harrison Smith and Tampa Bay linebacker Lavonte David. ___
Fox Sports
22-05-2025
- Fox Sports
Fred Warner signs his 3-year, $63 million extension with the 49ers
Associated Press SANTA CLARA, Calif. (AP) — The San Francisco 49ers announced their three-year extension with All-Pro Fred Warner that makes him the highest-paid off-ball linebacker in NFL history. Warner signed the deal worth $63 million with more than $56 million guaranteed on Thursday, keeping him under contract with the team through the 2029 season. "Fred's leadership is exemplary and his approach to his craft is contagious,' general manager John Lynch said in a statement. 'Fred sets the tone for our entire team with the consistency, speed and physicality with which he plays. Off the field, his passion, energy, and professionalism are second to none and truly embody what it means to be a Niner. We are extremely proud to get this extension done and lock Fred in for the future.' The deal with Warner is the third extension San Francisco reached with one of its star players since the draft, having previously given quarterback Brock Purdy a $265 million, five-year extension and tight end George Kittle a $76.4 million, four-year deal. The Niners are hoping to bounce back from a 6-11 season and get back to their 2023 form when they made it to the Super Bowl for the second time since Lynch and coach Kyle Shanahan took over in 2017. 'We're here to stay, baby,' Warner said in a video posted by the team. 'It was a dream when I got drafted here in 2018 and it's still a dream to this day. I know we've been through some great times these first seven years but the story is only beginning. We know what we're after. Let's go chase it. Let's go get it.' Warner had two years remaining on the five-year, $95 million extension he signed in 2021 that was the richest at the time for an off-ball linebacker and ranked second to Baltimore's Roquan Smith before this new deal. The $21 million per year for Warner tops Smith's $20 million average to once again make Warner the highest-paid off-ball linebacker in terms of average annual value. Warner has shown he deserves it as he has developed into one of the top defensive players in the NFL after being drafted in the third round in 2021. He has been a first-team All-Pro the past three seasons and in four of the past five as one of the key cogs in San Francisco's defense thanks to his ability to thrive in both run and pass defense. The only active players currently under contract with more first-team All-Pro selections than the four for Warner are Bobby Wagner (six) and Tyreek Hill (five). Warner had 131 tackles, five tackles for loss, two interceptions, seven passes defensed and four forced fumbles last season despite playing most of the season with a broken bone in his ankle. Warner has 10 sacks, 10 interceptions, 15 forced fumbles, six fumble recoveries, 36 tackles for loss and 53 passes defensed in his first seven seasons. His 896 career tackles rank fourth most in the NFL since 2018 and has missed only one game in seven seasons. Warner is one of three active players with at least 10 sacks, interceptions and forced fumbles, along with Minnesota safety Harrison Smith and Tampa Bay linebacker Lavonte David. ___ AP NFL: recommended
