Barrett-Jackson’s Palm Beach Event Continues Year-Long 40th Anniversary Celebration with Nearly $16 Million in Revenue; More Than 54,000 in Attendance
World’s Greatest Collector Car Auctions Increases Number of Bidders from 2010 Event; Increasing New Bidders by 57%
SCOTTSDALE, AZ. – April 15, 2011 – Barrett-Jackson Auction Company, The World’s Greatest Collector Car Auctions™, announced today nearly $16 million worth of Classics, Muscle Cars, Hot Rods, Resto-Mods, Exotics, and Contemporary Collectibles crossed the auction block at its 9th Annual Palm Beach event on April 7-9, in front of more than 54,000 fans, a record for a non-holiday weekend in Palm Beach.
The three-day event, which featured nearly 400 vehicles, was covered by approximately 50 news agencies and featured on SPEED TV with more than 23 hours of live exclusive event and auction coverage. The Barrett-Jackson event produced the best performing Automobilia auction ever in Palm Beach with double the sales from 2010.
The 9th Annual Palm Beach auction successfully attracted new buyers and consignors. The 2011 event brought 57% new bidders, a 7% increase year over year, as well as 54% new consignors, a 5% increase year over year. In addition, 40% of all the vehicles were purchased by new bidders while more than 40% of the top selling vehicles were bought by new bidders to the auction. Total revenue from absentee bidders was triple the amount from last year with $926,500 in sales. The top five vehicles that crossed the block were (includes buyer’s premium):
- Lot #665.4 – 1957 De Soto Adventurer Convertible $247,500
- Lot #654.1 – 2012 Chevrolet Corvette Z06 Special Edition $175,000
- Lot #652.6 – 1970 Oldsmobile 442 Convertible $165,000
- Lot #660.1 – 1966 Shelby GT350 2 Door Fastback $162,800
- Lot #663 – 1999 Bentley Azure Convertible $117,700
“During our 40th anniversary year, we continue to defy a tough economic climate as our nearly $16 million sale widened the variety of high-profile vehicles we offered for an unparalleled experience. This auction appealed to consignors and buyers in all price ranges,” said Craig Jackson, chairman and CEO, Barrett-Jackson. “We’re looking forward to Orange County where we have already received consignments including 28 vehicles from the David Parker collection as well as a 1973 Ferrari 365GTB/4 Berlinetta.”
Highlights from the Barrett-Jackson event in Palm Beach included a presentation of the Lee Iacocca Award to Craig Jackson and Steve Davis president, for their dedication to Excellence in Perpetuating an American Automotive Tradition. The award honors people who, over time, have demonstrated an extraordinary dedication to the classic car hobby thru vehicle preservation, club participation, and who have unselfishly assisted and encouraged others in Perpetuating an American Automotive Tradition.
Barrett-Jackson also helped raised over $500,000 for local and national charitable organizations. All fees and commissions were waived on charity vehicles, encouraging auction participants to maximize their bids. Charities involved in this year’s auction included The Darrell Gwynn Foundation, which is an organization dedicated to helping underprivileged children receive much-needed wheelchairs. Gwynn expressed his gratitude for Barrett-Jackson’s ongoing charitable efforts and recognized the company with an award presented at the Opening Night Gala. In addition to the several vehicles sold on behalf of The Darrell Gwynn Foundation, the non-profit organization received $60,000 in additional funds and auctioned off a signed poster for $7,000.
Other worthwhile charities benefitting from the generosity of numerous bidders included Boy Scouts of America, Austin Hatcher Foundation for Pediatric Cancer, Rose Foundation of Haiti, and Children’s Home Society Faine House. Over the last five years, Barrett-Jackson has raised more than $32 million for charities nationwide. A breakdown of the all charity vehicles in Palm Beach are as follows:
- Lot #53.2 – 1953 Chevrolet Custom 1/2 Ton Pickup $72,000.00 (Boy Scouts Of America Foundation)
- Lot #70 – 2006 Volkswagen Jetta 4 Door Bio-Diesel Touring Car $32,000.00 (Austin Hatcher Foundation For Pediatric Cancer)
- Lot #353.1 – 2010 Orange County Choppers Custom Chopper $18,000.00 (Rose Foundation of Haiti )
- Lot #359 – 1974 Mercury Montego Street Version Race Car $90,000.00 (The Darrell Gwynn Foundation)
- Lot #359.1 – 2009 Ford Shelby TT500 Fastback $50,000.00 (The Darrell Gwynn Foundation)
- Lot #654.1 – 2012 Chevrolet Corvette Centennial $175,000.00 (Austin Hatcher Foundation For Pediatric Cancer)
- Lot #664 – 1967 Chevrolet Nova Custom 2 Door Hardtop $63,000.00 (Children’s Home Society Faine House)
“Palm Beach is the second stop of the four events planned for our 40th Anniversary. It is a very important part of our East Coast presence” said Steve Davis, president, Barrett-Jackson. “The collection of vehicles we will see during our third stop in Orange County will generate tremendous excitement in an area of the country that is considered the mecca of car collecting.
Barrett-Jackson week kicked off with the Barrett-Jackson Night at City Place, which included a vehicle display and giveaways. The 4th Annual cruise-in held at Al Packer Ford West was the largest cruise-in ever for Barrett-Jackson in Palm Beach.
Over one thousand attended the Opening Night Gala that officially kicked off the three-day event. Entertainment ranged from live music to a fashion show presented by Tommy Bahama.
Sponsors representing luxury and consumer goods participated at Barrett-Jackson along with more than 60 exhibitors and successful ride and drive initiatives provided by Ford and GM. Exhibitors that participated in the Palm Beach event were pleased with the attendance and results. Several exhibitors sold out of merchandise within the first few hours of the event.
Barrett-Jackson is currently accepting consignment requests and bidder applications for the 2011 Orange County Auction scheduled June 24-26. For more information, visit www.barrett-jackson.com.
About The Barrett-Jackson Auction Company
Celebrating its 40th anniversary in 2011, Barrett-Jackson Auction Company specializes in providing products and services to collector car owners, astute collectors and automotive enthusiasts worldwide. Named one of the top 100 “World’s Most Ethical Companies” by Ethisphere Magazine in 2010, Barrett-Jackson produces “The World’s Greatest Collector Car Auctions™” in Scottsdale, Palm Beach, Fla., Orange County, Calif. and Las Vegas. Barrett-Jackson also endorses a one-of-a-kind collector car insurance offering for collector vehicles and other valued belongings. Established in 1971, Barrett-Jackson is headquartered in Scottsdale, Ariz. For more information about Barrett-Jackson, visit www.barrett-jackson.com or call (480) 421-6694.
Each description contained herein is provided by the consignor for the purpose of describing the item offered for sale. The accuracy of a description is the responsibility of the consignor and Barrett-Jackson is not responsible for any errors contained in a description or for the failure of a consignor to produce any item for sale. Please conduct your own inspection before making a purchase and refer to the Barrett- Jackson website for complete terms and conditions of sale.
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