19 January 2015

Scottsdale Auction Week 2015: Final numbers

Barrett-Jackson hammered the last of more than 1,600 cars sold — a Mercedes-Benz, in keeping with tradition — on Sunday evening, closing the biggest year in the long line of the Arizona auctions.

After seven full days of sales, all of the major auction companies posted record overall numbers, and the $292.8M total across all auction companies was a high-water mark in the week’s history. This figure represented an 18% increase over last year, which was the second largest year-over-year change of the last five years. Record figures for individual cars continued to fall as well, including RM selling the most expensive car in Arizona auction history (a 1964 Ferrari 250 LM that went for $9.6M). The theme was definitely “more” — as in more cars, more dollars, and more days.

The surge in sales was impressive and slightly higher than the $285M Hagerty market analysts had projected, and was largely driven by Barrett-Jackson successfully presenting the Ron Pratte Collection. This set of 141 high-quality vehicles sold for $35.5M, and essentially functioned as a bespoke single-collection sale nested within the usual Arizona auctions. The set of cars was so large, in fact, that it prompted Barrett to add another day of auctions just to accommodate them.

With all that said, however, some observers are detecting signs of a long-anticipated slowdown in the market. Looking at the numbers from a different angle, many unsold cars were bid to amounts that would have purchased them six months ago. The totaled high bids of all the unsold cars this week leaped from $40.8M in 2014 (for 494 cars) to $69.5M in 2015 (for 408 cars). Put another way, the average high bid of unsold lots more than doubled from 2014. All this suggests that sellers are continuing to expect their cars to maintain stratospheric appreciation while buyers aren’t as bullish.

The next few months should lend a sharper focus to which direction the collector car market is headed, but until then suffice to say that those who were able to enjoy all of the activity in Arizona were treated to a monumental week.

Listed below are the final raw results witnessed by Hagerty during the live auctions and may not factor in every post-sale deal that has occurred. These numbers include the appropriate buyer’s premiums.

Final from all auction companies
Total:
$292.8M
2,532/2,939 lots sold: 86% sell-through rate
Average Sale Price: $115,729

Overall Top 10 Sales:
1. 1964 Ferrari 250 LM Coupe Sold For $9,625,000 (RM)
2. 1966 Ferrari 275 GTB Competizione Coupe Sold For $9,405,000 (Bonhams)
3. 1959 Ferrari 250 GT LWB California Spyder Sold For $7,700,000 (Gooding)
4. 1966 Shelby Cobra 427 "Super Snake" Sold For $5,115,000 (BJ)
5. 1962 Ferrari 400 Superamerica Series I Aerodinamico Coupe Sold For $4,070,000 (Gooding)
6. 1950 General Motors Futurliner Parade Of Progress Tour Bus Sold For $4,000,000* (BJ)
7. 1967 Ferrari 275 GTB/4 Coupe Sold For $3,657,500 (RM)
8. 1973 Ferrari 365 GTS/4 Daytona Spyder Sold For $3,300,000 (RM)
8. 1954 Pontiac Bonneville Special Motorama Concept Car Sold For $3,300,000 (BJ)
10. 1966 Ferrari 275 GTB/2 Longnose Coupe Sold For $2,750,000 (RM)
10. 1984 Ferrari 288 GTO Coupe Sold For $2,750,000 (RM)
*Car sold for charity

2014 Results for comparison
Cumulative Total: $248.6M
2,321/2,815 lots sold: 82% sell-through rate
Average Sale Price: $107,096

Results broken down by Auction Company

BARRETT-JACKSON

Overall Total: $131.9M
1,599/1,617 lots sold: 99% sell-through rate
Average Sale Price: $82,518

Overall Top 10 Sales:
1. 1966 Shelby Cobra 427 "Super Snake" Sold For $5,115,000
2. 1950 General Motors Futurliner Parade Of Progress Tour Bus Sold For $4,000,000*
3. 1954 Pontiac Bonneville Special Motorama Concept Car Sold For $3,300,000
4. 1949 Talbot-Lago T-26 Grand Sport Coupe Sold For $1,650,000
5. 1965 Shelby Cobra 427 Roadster Sold For $1,595,000
6. 1955 Mercedes-Benz 300SL Gullwing Coupe Sold For $1,100,000
7. 1937 Mercedes-Benz 320B Cabriolet Sold For $1,045,000
8. 2016 Shelby Mustang GT350 Coupe Sold For $1,000,000*
9. 2015 Chevrolet Corvette Z06 Convertible "1st Retail" Sold For $800,000*
10. 2015 BMW M5 Sedan Sold For $700,000*
*Cars sold for Charity

Sunday total: $5.0M
137/137 lots sold: 100% sell-through rate
Average Sale Price: $36,409

Top 10 Sunday Sales:
1. 1964 Austin-Healey 3000 Mk III BJ8 Convertible Sold For $101,200
2. 2014 Victory Cross Country 8-Ball Custom Motorcycle Sold For $99,000
3. 1957 Chevrolet Bel Air Custom Convertible Sold For $86,900
4. 1971 Chevrolet Corvette Convertible Sold For $82,500
5. 1969 Oldsmobile Hurst Hardtop Sold For $77,000
6. 2013 Jeep Wrangler Unlimited Custom SUV Sold For $73,700
7. 1960 Chevrolet Biscayne Sedan Sold For $66,000
8. 1935 Ford Custom Sold For $64,900
9. 1967 Buick Riviera Custom Coupe Sold For $60,500
9. 2012 Jeep Wrangler Unlimited Custom SUV Sold For $60,500
9. 1969 Chevrolet Camaro Z/28 Coupe Sold For $60,500

2014 Results for comparison
Cumulative Total: $107.8M
1,381/1,388 lots sold: 99.5% sell-through rate
Average Sale Price: $78,042

RM AUCTIONS

Overall Total: $63.7M
114/127 lots sold: 89% sell-through rate
Average Sale Price: $558,775

Overall Top 10 Sales:
1. 1964 Ferrari 250 LM Coupe Sold For $9,625,000
2. 1967 Ferrari 275 GTB/4 Coupe Sold For $3,657,500
3. 1973 Ferrari 365 GTS/4 Daytona Spyder Sold For $3,300,000
4 1966 Ferrari 275 GTB/2 Longnose Coupe Sold For $2,750,000
4. 1984 Ferrari 288 GTO Coupe Sold For $2,750,000
6. 1966 Ferrari 275 GTS Spyder Sold For $2,365,000
7. 1971 Lamborghini Miura P400 SVJ Coupe Sold For $1,897,500
8. 1962 Ferrari 250 SII Cabriolet Sold For $1,705,000
9. 1965 Porsche 904 Carrera GTS Coupe Sold For $1,650,000
10. 2005 Ferrari FXX Evoluzione Coupe Sold For $1,622,500

2014 Results for comparison
Total: $45.6M
108/126 lots sold: 86% sell-through rate
Average Sale Price: $421,884

GOODING & CO

Overall Total: $51.5M
114/126 lots sold: 91% sell-through rate
Average Sale Price: $451,900

Overall Top 10 Sales:
1. 1959 Ferrari 250 GT LWB California Spyder Sold For $7,700,000
2. 1962 Ferrari 400 Superamerica Series I Aerodinamico Coupe Sold For $4,070,000
3. 1968 Ferrari 330 GTS Spyder Sold For $2,420,000
4. 1966 Porsche 906 Carrera 6 Coupe Sold For $1,980,000
5. 1963 Ferrari 250 GT Lusso Coupe Sold For $1,925,000
6. 1959 BMW 507 Roadster Sold For $1,815,000
7. 1988 Porsche 959 Sport Coupe Sold For $1,705,000
8. 1965 Ferrari 275 GTS Spyder Sold For $1,595,000
9. 1960 Mercedes-Benz 300SL Roadster Sold For $1,567,500
10. 1964 Shelby Cobra 289 R&P Roadster Sold For $1,155,000
10. 1970 Lamborghini Miura P400 S Coupe Sold For $1,155,000

2014 Results for comparison
Total: $49.5M
110/117 lots sold: 94% sell-through rate
Average Sale Price: $449,650

BONHAMS

Overall total: $24.8M
73/84 lots sold: 87% sell-through rate
Average Sale Price: $340,058

Overall Top 10 Sales:
1. 1966 Ferrari 275 GTB Competizione Coupe Sold For $9,405,000
2. 1955 Mercedes-Benz 300SL Gullwing Coupe Sold For $1,375,000
3. 1958 Mercedes-Benz 300SL Roadster Sold For $1,237,500
4. 1964 Shelby Cobra 289 R&P Roadster Sold For $1,017,500
5. 1957 Mercedes-Benz 300SL Roadster Sold For $902,000
6. 1969 Ferrari 365 GTB/4 Coupe Sold For $748,000
7. 1938 Bugatti Type 57 Roadster Sold For $671,000
8. 1914 American Underslung 646 5-Passenger Touring Sold For $528,000
9. 1953 Mercedes-Benz 300S Coupe Sold For $511,500
10. 1948 Automobile Shippers Special Indy Roadster Sold For $473,000

2014 Results for comparison
Total: $23.5M
86/101 lots sold: 85% sell-through rate
Average Sale Price: $272,890

RUSSO AND STEELE

Overall Total: $17.2M
414/661 lots sold: 63% sell-through rate
Average Sale Price: $41,612

Overall Top 10 Sales:
1. 1957 Mercedes-Benz 300SL Roadster Sold For $1,430,000
2. 1969 Chevrolet Camaro COPO Sport Coupe Sold For $335,500
3. 1970 Ford Mustang Boss 429 Sportsroof Sold For $330,000
4. 1974 Porsche 911 Carrera 2.7 Coupe Sold For $302,500
5. 1957 Porsche 356 Speedster Sold For $286,000
6. 1970 Plymouth Cuda Hemi Hardtop Coupe Sold For $247,500
7. 2001 Prevost XL Sold For $206,250
8. 1959 Echidna Chassis #2 Roadster Sold For $162,800
9. 1937 Cord 812 Sportsman Cabriolet Sold For $151,250
10. 1953 Jaguar XK120 Roadster Sold For $143,000

Sunday total: $1.1M
77/111 lots sold: 69%
Average Sale Price: $14,809

Top 10 Sunday Sales:
1. 2002 Jaguar XK8 Convertible Sold For $74,250
2. 1964 Chevrolet Corvette Convertible Sold For $45,100
3. 1963 Bentley S3 Saloon Sold For $31,900
4. 1961 GMC Suburban Sport Utility Vehicle 4x4 Sold For $29,700
5. 1996 Dodge Viper RT/10 Convertible Sold For $28,600
5. 1977 American J-10 1/2 Ton Townside 4x4 Pickup Sold For $28,600
7. 1957 Chevrolet Bel Air Coupe Sold For $28,050
8. 1977 Pontiac Firebird Trans Am Coupe Sold For $26,950
9. 1968 Chevrolet Chevelle SS 396 Sport Coupe Sold For $25,850
10. 1959 Chevrolet Bel Air Sedan Sold For $25,300

2014 Results for comparison
Cumulative Total: $19.0M
456/751 lots sold: 61% sell-through rate
Average Sale Price: $41,761

SILVER

Cumulative Total through Saturday: $3.5M
218/324 lots sold: 67%
Average Sale Price: $16,039

Overall Top 10 Sales:
1. 1956 DeSoto Firedome Convertible Sold For $85,320
2. 1966 Chevrolet Corvette 427 Coupe Sold For $82,080
3. 1997 Lamborghini Diablo Sold For $71,280
4. 1931 Packard Standard 8 Convertible Sold For $64,800
5. 1969 Chevrolet Corvette Coupe Sold For $60,480
6. 1975 Porsche 911 Sold For $59,940
7. 1932 Ford Hi-Boy Roadster Sold For $56,160
8. 1967 Chevrolet Chevelle 396/325 Hardtop Coupe Sold For $52,380
9. 1969 Chevrolet Camaro Z/28 Sport Coupe Sold For $48,600
10. 1956 Chevrolet Bel Air Sport Coupe Sold For $44,280

2014 Results for comparison
Total: $3.1M
179/331 lots sold: 54%
Average Sale Price: $17,414

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