Special to the Star
Scottsdale, ariz. – When Arizona Governor Jan Brewer declared a state of emergency on Jan. 21, it had nothing to do with the price of cars going across the auction block.
Record-breaking storms brought rain, wind and even snow to outlying areas. But the severe weather couldn't take the spirit out of the annual Southwestern car-collector love fest here, with five world-renowned auto auctions scheduled for a single week.
At all the auctions, many of the big-number cars struggled to get prices this year and auctioneers fought hard to squeeze that last bid.
But there were also many reasonably priced cars at all the major auctions. Whether you want to buy, sell or just admire, Scottsdale in January is a blessing for the car lover – and it takes more than Mother Nature to rain on its parade.
Here are some of this year's highlights.
Barrett-Jackson
Among car auctions, this one is by far the king of the hill. Barrett-Jackson opened the gates of its massive compound for an entire week starting Mon., Jan. 18, with more than 1,500 cars, trucks, planes and motorcycles guaranteed to find new owners, since no reserve prices were set.
In its 39th year of being an automotive Disney World, Barrett-Jackson estimates that more than 200,000 people annually scour the tents and explore the vendors selling everything from memorabilia and jewellery to elk hunting trips in the wilds of Colorado. Somewhere amidst the crowds and chaos is a car sale.
With non-stop prime-time television coverage, the top cars were bound to bring ridiculously high prices. Again this year, an airplane brought the highest bid: A 1929 Hamilton Metal Plane H47 sold for $671,000.
But that's just over half of last year's top bid for a 1929 Ford 4-AT-E Tri-motor airplane, which sold for $1,210,000. (Both prices include the 10 per cent buyer's premium.)
As for cars, a 1964 Shelby Cobra Roadster brought $478,500 while a 1963 model sold for $401,500.
For those watching, even stranger things happened.
A 1970 Oldsmobile 442 w30 convertible sold for $222,000 after buyer's premium while 45 minutes and nine cars later another 1970 Oldsmobile 442 w30 convertible hit the hammer at $159,500 – a difference of $62,500.
Gooding & Co.
A relative newcomer to the Scottsdale auction frenzy, Gooding & Co. is the one to watch for some of the rarest and most beautiful vehicles in the world. Tucked up against the Scottsdale Fashion Square, Gooding & Co. is as elegant and refined as the cars they sell.
During its sizzling two-day Scottsdale auction, the company made $33.9 million in sales, with a total of 114 out of 125 lots sold. And for the third year in a row, Gooding & Co. attracted the highest bid for anything at the Scottsdale auctions: a 1956 Jaguar D-Type Sports Racer that sold for $3.74 million.
The 1965 Shelby 427 s/c Cobra, the first of 29,427 s/c Cobras built, sold for a bargain price of just over $1 million, much less than its estimated value of $1.8 million. But no amount of prodding could get the crowd to open their wallets more.
A 1959 Ferrari 250 GT Series 1 Cabriolet squeaked by the seller's $2 million reserve price. The final bid was actually $1.95 million, plus the 10 per cent buyer's premium. But by discounting their own cut, Gooding & Co. had a satisfied consignor and a happy auction house with $145,000 still made on the sale.
RM Auctions
Canadian-owned RM Auctions, the world's largest collector-car auction house, posted more than $19.6 million in total sales with an impressive 89 per cent of lots sold.
RM was the only one of the auctions I attended to have a windproof venue – the luxurious Arizona Biltmore Resort and Spa, which attracted a standing-room-only crowd.
For the first time, the company's annual Arizona auction was extended to two days with the addition of an exclusive British-themed evening auction. A rare 1963 Aston Martin DB4 GT, the last GT to be built and sold by Aston Martin's Newport Pagnell Factory, sold for just over $1 million after 16 tense minutes on the block.
A remarkably restored 1965 Aston Martin DB5 garnered $429,000 and a matched pair of Aston Martin DB Mark IIIs, a Drop Head Coupe and a Saloon, fetched $330,000 and $275,000 respectively.
A 1967 Shelby 427 Cobra, formerly part of the renowned Otis Chandler Collection, sold for $632,500 while the front-of-the-catalogue 1964 Shelby 427 Cobra "Flip—Top" Roadster stalled at $1.45 million.
Russo and Steele
Russo and Steele were the top story of the auctions this year. The company had a great start to the sale, but on the evening of Jan. 21, the winds picked up and tore through two of the auction tents, with one of them landing on the adjacent freeway. Luckily no one was seriously hurt.
The auction was shut down for three days. Many cars were damaged, but many others were miraculously spared. The bidding resumed three days later and the event was extended a day, leaving many hustling to change their travel arrangements.
The 1960 Ferrari 250 GT Series II Cabriolet – the 14th built in the first run of 100, and a car that suffered not even a scratch – brought a respectable $797,500.
Toronto Star
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