Passion For Collector Cars Drives Sales To Over $110 Million At Scottsdale Barrett-Jackson Auction
SCOTTSDALE, Ariz. – January 22, 2007
Record Sales and Attendance Reaffirms Popularity of Car Collecting
Collectors spent nearly US$112,000,000 at the 36th Annual Barrett-Jackson Collector Car Event in Scottsdale, Ariz., from Monday, January 15 – 21, 2007. Continued, strong demand made the event the most successful collector car auction in American history as bidders snapped up 1,271 total cars sold at No Reserve, as well as rock and pop culture memorabilia in spite of a soggy WestWorld facility. “The World’s Greatest Collector Car Event™” attracted over 250,000 visitors and was featured on SPEED with 40 hours of live coverage during 2007.
“The collector car hobby continues to grow and demand was exceptionally strong for a variety of vehicles ranging from vintage Shelbys to superb customs, top notch muscle cars, obscure makes and even timeless Woodies,” said Craig Jackson, CEO of the Barrett-Jackson Auction Company. “And as our team predicted, collectors rediscovered the ‘golden era of fins’ as they pushed the values of many 1950s classics to over $100,000. The spectacular vehicles sold this week were some of the most desirable automobiles in the world and the prices they fetched demonstrated the incredible strength of the market.”
The highlight of the auction was the sale of Carroll Shelby’s 1966 Shelby 427 Cobra for a world record $5,500,000, including buyer’s premium. The “Warrior One” Hummer that was “overhauled” by Chip Foose following a CNN tour of duty in Iraq hit $1,000,000. Proceeds from the sale of the CNN Hummer were donated to The Fisher House Foundation, which builds “comfort homes” for families of hospitalized military personnel; bidder Dave Ressler donated another $250,000 to the charity during the bidding.
“In addition to Shelby’s Cobra and the CNN Hummer topping the million dollar mark, two 1954 Dodge Firearrow convertible ‘Dream’ cars hit $1,100,000 each,” explained Steve Davis, President of the Barrett-Jackson Auction Company. “Another Shelby Cobra knocked on the door by selling for $935,000 and we broke records for cars like the stunning Boss 429 Mustang that sold for $605,000.”
Barrett-Jackson continues to set the standard for the collector car market by elevating consignment standards, challenging records and serving as the barometer for market trends. The selection of cars this year was the broadest ever in the Barrett-Jackson Auction Company’s rich history, ranging from a vintage stagecoach to an Amphicar, a Russian rescue craft, 1950′s classics, contemporary cars and exotics. Results from the week uncovered interesting new trends that will be analyzed by collectors worldwide
“One of the key trends is that the number of new bidders continues to be very strong,” added Jackson. “Many of these buyers aren’t afraid to buy something a bit offbeat like a Kaiser Henry, De Soto Firesweep or Pro Stock Chevy Vega race car. For traditional collectors, B-Body Chryslers and HEMI’s continue to command premium prices, Shelbys of every year are in demand and the custom, resto-mods are still hot. Austin Healeys increased in value and the rarest Corvettes are still very good purchases.”
The auction is a lifestyle event, featuring fashion shows and a pavilion where patrons were pampered with spa treatments, shopped for high-end jewelry and clothing and had access to some of Arizona’s most prestigious resort communities. Two evening galas were held during the week; one for bidders and VIPs and another benefiting Childhelp, the auction’s charitable beneficiary. For the first time, a rock-n-roll memorabilia auction was added to the week long event. This mixture of automobiles and lifestyle also attracted a host of new sponsors including General Motors and Ford Motor Company; the first 2007 Shelby GT was sold at the auction for $660,000 and several GM show cars crossed the block.
“We selected an amazing diversity of vehicles to offer this year, including contemporary icons like the first Shelby GT and recent GM show cars,” noted Davis. “Then we wove quality ‘driver’ cars into the docket of vintage muscle cars, customs and classics. This presentation of all makes, models, years and levels of cars makes it possible for even more people to enjoy car collecting. The world responded to our approach and the resulting strong sales in Scottsdale shows the market for car collecting is very, very healthy.”
About Barrett-Jackson
Established in 1971 and headquartered in Scottsdale, Ariz., Barrett-Jackson specializes in providing products and services to classic and collector car owners, astute collectors and automotive enthusiasts around the world. The company produces the “World’s Greatest Collector Car Events™” in Scottsdale and Palm Beach, Fla. For more information about Barrett-Jackson, visit www.barrett-jackson.com or call (480) 421-6694.
Media Contact
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