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Automotive Lifestyle
AUTOS: Barrett-Jackson’s Stunning Results
With more than $92 million in sales, nine seven-figure collector cars and record attendance, the Scottsdale auction soars to new heights.
The evocative and extremely rare 1933 Pierce Arrow Silver Arrow comes up on stage, where it sold for $2.2 million. (Photo: Bob Golfen)
Barrett-Jackson came roaring back during its Scottsdale auction with top sales results and record numbers, hitting a total of more than $92 million in collector cars sold over the block in the six-day auction.
With a record number of consignments – more than 1,300 – and the new Salon Offering Collection bringing top-drawer classics to the stage, the auction scored the third-highest result ever for Barrett-Jackson, just behind the $100 million sale of 2006 and $112 million result of 2007.
Nearly $44 million worth of collector cars sold on Saturday alone, a record for Barrett-Jackson.
The latest numbers show a 32 percent increase compared with the 2011 Scottsdale auction, according to Barrett-Jackson, with record attendance of 270,000 during the entire eight-day event. More than 50 percent of the sales went to first-time Barrett-Jackson buyers, and nearly half of the consigners were new to the auction.
Barrett-Jackson chairman and CEO Craig Jackson credited the boost in sales and attendance in part to the auction’s resurgence of top classic cars and other key collector-car offerings resulting from the Scottsdale auction’s recently established limited-reserve policy and new Salon Offering Collection for high-end cars.
“We’re back to selling the world’s greatest classic cars,” Jackson said in an interview. “We also had a lot of new money in the room, so it was a great mixture of the old and the new.”
Barrett-Jackson began a no-reserve policy for all collector-car sales in 2005, bringing a new level of excitement to the auction as 100 percent of the cars sold to the highest bidder with no minimum price. Last year, the auction began its limited-reserve system for cars valued at more than a half-million dollars to attract more of the rarest and most-desirable cars to auction with a greater level of security for the consigners.
The result at Scottsdale 2012 was a 99.69 sell-through rate with a total of nine cars selling for more than $1 million, including the charity sale of auction president Steve Davis’ custom 1964 Fairlane that raised $1 million for the Armed Forces Foundation.
Charity sales, a signature feature of Barrett-Jackson auctions, reached more than $5.8 million through the sales of 22 vehicles. In the past five years, Barrett-Jackson has raised more than $45 million for a wide variety of worthy causes, with the auction waiving all fees so that 100 percent of the proceeds benefit the charities.
Top seller of the auction was the rare and beautifully restored 1948 Tucker Torpedo that went for $2.915 million, a new record for a Tucker. That was followed by the sale of the one-of-a-kind 1947 Bentley Mark VI with exotic coachwork by Franay, at $2.75 million.
All published sales results include the 10 percent bidder premium.
Another world-record sale was achieved by the 1954 Mercedes-Benz 300SL Gullwing coupe with only 4,159 original miles, which hit $2.2 million, the highest price ever for a Gullwing with a steel body (rather than the limited-number alloy cars).
With a record number of consignments – more than 1,300 – and the new Salon Offering Collection bringing top-drawer classics to the stage, the auction scored the third-highest result ever for Barrett-Jackson, just behind the $100 million sale of 2006 and $112 million result of 2007.
Nearly $44 million worth of collector cars sold on Saturday alone, a record for Barrett-Jackson.
The latest numbers show a 32 percent increase compared with the 2011 Scottsdale auction, according to Barrett-Jackson, with record attendance of 270,000 during the entire eight-day event. More than 50 percent of the sales went to first-time Barrett-Jackson buyers, and nearly half of the consigners were new to the auction.
Barrett-Jackson chairman and CEO Craig Jackson credited the boost in sales and attendance in part to the auction’s resurgence of top classic cars and other key collector-car offerings resulting from the Scottsdale auction’s recently established limited-reserve policy and new Salon Offering Collection for high-end cars.
“We’re back to selling the world’s greatest classic cars,” Jackson said in an interview. “We also had a lot of new money in the room, so it was a great mixture of the old and the new.”
Barrett-Jackson began a no-reserve policy for all collector-car sales in 2005, bringing a new level of excitement to the auction as 100 percent of the cars sold to the highest bidder with no minimum price. Last year, the auction began its limited-reserve system for cars valued at more than a half-million dollars to attract more of the rarest and most-desirable cars to auction with a greater level of security for the consigners.
The result at Scottsdale 2012 was a 99.69 sell-through rate with a total of nine cars selling for more than $1 million, including the charity sale of auction president Steve Davis’ custom 1964 Fairlane that raised $1 million for the Armed Forces Foundation.
Charity sales, a signature feature of Barrett-Jackson auctions, reached more than $5.8 million through the sales of 22 vehicles. In the past five years, Barrett-Jackson has raised more than $45 million for a wide variety of worthy causes, with the auction waiving all fees so that 100 percent of the proceeds benefit the charities.
Top seller of the auction was the rare and beautifully restored 1948 Tucker Torpedo that went for $2.915 million, a new record for a Tucker. That was followed by the sale of the one-of-a-kind 1947 Bentley Mark VI with exotic coachwork by Franay, at $2.75 million.
All published sales results include the 10 percent bidder premium.
Another world-record sale was achieved by the 1954 Mercedes-Benz 300SL Gullwing coupe with only 4,159 original miles, which hit $2.2 million, the highest price ever for a Gullwing with a steel body (rather than the limited-number alloy cars).
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