21 January 2017

Scottsdale Auction Week 2017 – Friday recap

Rainy weather came to Arizona on Friday, and even if attendance was dampened, sales activity continued outpacing 2016’s results. Gross sales amounted to $187.1M, up 17 percent from last year, still mostly due to higher volume.

The two catalog sales successfully sold their top lots, with Gooding & Company selling the 1925 Bugatti Type 35 Grand Prix for a world record $3.3M and RM Sotheby’s earning $6.6M for its 1939 Mercedes-Benz 540K Special Roadster. Million-dollar cars rebounded slightly yesterday with their sell-through rate coming in 6 percent higher compared to this point last year. Nearly half of the cars valued above $250K, however, earned bids less than what their condition would warrant. In short, the best of the best did well but the majority of the top end of the market isn’t universally sharing the same experience.

Perhaps the biggest story emerging this week is the pickup truck market, which has consistently seen impressive prices each day. Of the unmodified trucks and SUVs that Hagerty has reviewed, 60 percent sold above condition-appropriate prices according to the Hagerty Price Guide, with 83 percent of Chevrolet pickups doing so. Particularly strong were 1973-87 Chevy pickups and 1967-72 Ford F-Series. A ’56 Dodge Power Wagon auctioned by Barrett-Jackson exceeded Hagerty Price Guide values by $15,100 to sell for $61,600.

Performance among muscle cars has been steady overall, though variable by model. Of Mopar muscle cars reviewed by Hagerty, for example, 54 percent have sold above condition-appropriate prices. Meanwhile GM muscle cars were not performing nearly as well with almost 40 percent (which we reviewed) earning bids lower than what their condition suggested.

Saturday is always the week's strongest day, and this year should be no exception. Star cars include a 1965 Ferrari 500 Superfast at Gooding, the 1955 Chrysler Ghia Streamline concept car at Barrett-Jackson and a well-documented 1968 Chevrolet Corvette L88 coupe at Russo and Steele.

Following are the results from the 2017 Scottsdale auctions through Friday evening. This data includes overall results as well as individual results from each company. Please remember that these reports consist of the raw results witnessed during the live auctions and may not include every post-sale “off the block” transaction.

Overall through Friday from all auction companies:

Cumulative Total: $187.1M
2095/2421 lots sold: 87% sell-through rate
Average Sale Price: $89,291

2016 Cumulative Results through Friday
Cumulative Total: $160.2M
1775/2102 lots sold: 84% sell-through rate
Average Sale Price: $90,280

Overall Top 10 Sales from all auctions through Friday:

  1. 1963 Jaguar E-Type Lightweight Coupe sold for $7,370,000 (Bonhams)
  2. 1939 Mercedes-Benz 540K Special Roadster sold for $6,600,000 (RM Sotheby's)
  3. 1952 Ferrari 340 America Competizione Spider sold for $6,380,000 (Bonhams)
  4. 1928 Mercedes-Benz Type S Sports Tourer sold for $4,812,500 (Bonhams)
  5. 1969 Ferrari 365 GTS Spider sold for $3,602,500 (RM Sotheby's)
  6. 1925 Bugatti Type 35 Grand Prix Roadster sold for $3,300,000 (Gooding & Company)
  7. 1995 Ferrari F50 Coupe sold for $3,135,000 (RM Sotheby's)
  8. 1961 Ferrari 400 Superamerica Coupe sold for $3,080,000 (RM Sotheby's)
  9. 1931 Alfa Romeo 6C 1750 Gran Sport Spider sold for $2,805,000 (Bonhams)
  10. 2003 Ferrari Enzo Coupe sold for $2,695,000 (RM Sotheby's)

Individual results by auction company:

BARRETT-JACKSON
Cumulative Total through Friday: $59.1M
1319/1319 lots sold: 100% Sell Through Rate
Average Sale Price: $44,836

Overall Top 10 Sales:

  1. 2012 Hennessey Venom GT Spyder sold for $800,000*
  2. 1970 Dodge Challenger Custom Hardtop Coupe sold for $220,000
  3. 1950 Chevrolet Series 3100 1/2 Ton Custom Pickup sold for $205,700
  4. 1969 Chevrolet Corvette 427/435hp L89 Convertible sold for $205,700
  5. 1956 Chevrolet Bel Air 265/205hp Convertible sold for $187,000
  6. 2017 Chevrolet Camaro COPO Sport Coupe sold for $175,000*
  7. 1957 Chevrolet Bel Air 283/245 Convertible sold for $170,500
  8. 1956 Chevrolet Bel Air Custom Sedan sold for $167,200
  9. 1970 Chevrolet Camaro Custom Sport Coupe sold for $165,000
  10. 1959 Chevrolet Corvette Custom Convertible sold for $165,000

*Charity Lot

Friday total: $25.1M
334/334 lots sold: 100% Sell Through Rate
Average Sale Price: $75,353

Top 10 Friday Sales:

  1. 2012 Hennessey Venom GT Spyder sold for $800,000*
  2. 1970 Dodge Challenger Custom Hardtop Coupe sold for $220,000
  3. 1969 Chevrolet Corvette 427/435 L89 Convertible sold for $205,700
  4. 1956 Chevrolet Bel Air 265/205 Convertible sold for $187,000
  5. 2017 Chevrolet Camaro COPO Sport Coupe sold for $175,000*
  6. 1957 Chevrolet Bel Air 283/245 Convertible sold for $170,500
  7. 1962 Chevrolet Corvette Custom Convertible sold for $161,700
  8. 1957 Chevrolet Bel Air Custom Convertible sold for $159,500
  9. 1970 Plymouth Superbird 440/390 Hardtop Coupe sold for $159,500
  10. 2017 Ford F-150 SVT Raptor Pickup 4x4 sold for $157,000*

*Charity Lot

2016 Results through Friday
Cumulative Total: $52.4M
1061/1061 lots sold: 100% sell-through rate
Average Sale Price: $49,802

BONHAMS
(Bonhams’ sale ended Thursday)
Thursday total: $36.4M
86/105 lots sold: 82% Sell Through Rate
Average Sale Price: $422,736

Top 10 Sales:

  1. 1963 Jaguar E-Type Lightweight Coupe sold for $7,370,000
  2. 1952 Ferrari 340 America Competizione Spider sold for $6,380,000
  3. 1928 Mercedes-Benz Typ S Sports Tourer sold for $4,812,500
  4. 1931 Alfa Romeo 6C 1750 Gran Sport Spider sold for $2,805,000
  5. 1964 Porsche 904 GTS Coupe sold for $2,310,000
  6. 1966 Ferrari 275 GTB/2 Longnose Coupe sold for $1,732,500
  7. 1960 Ferrari 250 GT SII Cabriolet sold for $1,430,000
  8. 1913 Rolls-Royce Silver Ghost London-Edinburgh Sports Tourer sold for $698,500
  9. 1955 Austin-Healey 100 S Roadster sold for $539,000
  10. 1956 Porsche 356A Speedster sold for $528,000

2016 Results through Thursday
Total: $17.5M
92/112 lots sold: 82%
Average Sale Price: $190,198

GOODING & COMPANY
Friday Total: $16.8M
51/64 lots sold: 80% sell-through Rate
Average Sale Price: $328,878

Overall Top 10 Sales:

  1. 1925 Bugatti Type 35 Grand Prix Roadster sold for $3,300,000
  2. 2011 Ferrari 599 SA Aperta Spider sold for $1,485,000
  3. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,457,500
  4. 1964 Shelby Cobra 289 R&P Roadster sold for $1,100,000
  5. 1988 Porsche 959 Komfort Coupe sold for $1,089,000
  6. 1964 Aston Martin DB5 Sedan sold for $880,000
  7. 1960 Aston Martin DB4 Sedan sold for $456,500
  8. 1975 Lancia Stratos HF Coupe sold for $451,000
  9. 2004 Ferrari 360 Challenge Stradale Coupe sold for $396,000
  10. 1936 Bentley 4 1/4 Litre Cabriolet sold for $352,000

2016 Results through Friday
Total: $20.4M
47/57 lots sold: 82% sell-through rate
Average Sale Price: $434,494

RM SOTHEBY’S
Cumulative Total through Friday: $51.6M
140/159 lots sold: 88% sell-through rate
Average Sale Price: $368,609

Overall Top 10 Sales:

  1. 1939 Mercedes-Benz 540K Special Roadster sold for $6,600,000
  2. 1969 Ferrari 365 GTS Spider sold for $3,602,500
  3. 1995 Ferrari F50 Coupe sold for $3,135,000
  4. 1961 Ferrari 400 Superamerica Coupe sold for $3,080,000
  5. 2003 Ferrari Enzo Coupe sold for $2,695,000
  6. 1967 Ferrari 330 GTS Spider sold for $2,475,000
  7. 1966 Ferrari 275 GTB/2 Coupe sold for $2,117,500
  8. 2013 Bugatti Veyron 16.4 Super Sport 300 Coupe sold for $2,090,000
  9. 1948 Tucker 48 Sedan sold for $1,347,500
  10. 2008 Lamborghini Reventón Coupe sold for $1,320,000

Friday total: $35.5M
75/81 lots sold: 93% sell-through rate
Average Sale Price: $473,521

Top 10 Friday Sales:

  1. 1939 Mercedes-Benz 540K Special Roadster sold for $6,600,000
  2. 1969 Ferrari 365 GTS Spider sold for $3,602,500
  3. 1995 Ferrari F50 Coupe sold for $3,135,000
  4. 1961 Ferrari 400 Superamerica Coupe sold for $3,080,000
  5. 1967 Ferrari 330 GTS Spider sold for $2,475,000
  6. 1966 Ferrari 275 GTB/2 Coupe sold for $2,117,500
  7. 2013 Bugatti Veyron 16.4 Super Sport 300 Coupe sold for $2,090,000
  8. 1930 Cadillac Series 452 Fleetwood Roadster sold for $1,100,000
  9. 1987 Porsche 959 Komfort Coupe sold for $935,000
  10. 1924 Isotta Fraschini Tipo 8A Landaulet sold for $434,500

2016 Results through Friday
Total: $58.9M
120/150 lots sold: 80% sell-through rate
Average Sale Price: $491,098

RUSSO AND STEELE
Cumulative Total through Friday: $9.5M
302/415 lots sold: 73% sell-through rate
Average Sale Price: $31,495

Overall Top 10 Sales:

  1. 1954 Ford F-100 1/2 Ton Pickup sold for $143,000
  2. 1960 Volkswagen Transporter Samba Microbus, 23-Window sold for $124,300
  3. 1963 Chevrolet Impala SS Convertible sold for $121,000
  4. 1936 Cord 810 Phaeton sold for $110,000
  5. 1963 Ford Galaxie 500 406/405 Fastback sold for $104,500
  6. 1962 Chevrolet Bel Air 409 Sport Coupe sold for $90,200
  7. 1965 Pontiac Bonneville Convertible sold for $90,200
  8. 1949 Cadillac Series 62 Convertible sold for $89,100
  9. 1970 Pontiac GTO Judge Hardtop Coupe sold for $88,000
  10. 1957 Chevrolet Corvette Convertible sold for $81,400

Friday total: $5.4M
130/189 lots sold: 69% sell-through rate
Average Sale Price: $41,214

Top 10 Friday Sales:

  1. 1954 Ford F-100 1/2 Ton Custom Pickup sold for $143,000
  2. 1960 Volkswagen Transporter Samba Microbus, 23-Window sold for $124,300
  3. 1963 Chevrolet Impala SS Convertible sold for $121,000
  4. 1936 Cord 810 Phaeton sold for $110,000
  5. 1963 Ford Galaxie 500 Fastback sold for $104,500
  6. 1962 Chevrolet Bel Air 409 Sport Coupe sold for $90,200
  7. 1965 Pontiac Bonneville Convertible sold for $90,200
  8. 1962 Chevrolet Bel Air Hardtop Coupe sold for $90,200
  9. 1949 Cadillac Series 62 Convertible sold for $89,100
  10. 1970 Pontiac GTO Judge Hardtop Coupe sold for $88,000

2016 Results through Friday
Total: $8.7M
284/410 lots sold: 69% sell-through rate
Average Sale Price: $30,480

SILVER
Cumulative Total through Friday: $1.8M
130/277 lots sold: 47% sell-through rate
Average Sale Price: $13,686

Overall Top 10 Sales:

  1. 2007 Ford Mustang Shelby GT GC sold for $70,200
  2. 1952 Nash-Healey Pininfarina sold for $70,200
  3. 1968 Dodge Hemi Charger sold for $68,580
  4. 1956 Chrysler Windsor sold for $62,640
  5. 2001 Aston Martin DB7 sold for $50,760
  6. 1955 Chevrolet Bel Air Convertible sold for $44,820
  7. 1955 Chevrolet Two-Door Post sold for $39,960
  8. 1970 Chevrolet Camaro Z/28 sold for $38,610
  9. 1970 Dodge Challenger RTSE sold for $38,340
  10. 1934 Ford Custom sold for $36,180

Friday total: $1.3M
80/176 lots sold: 45% sell-through rate
Average Sale Price: $16,682

Top 10 Friday Sales:

  1. 2007 Ford Mustang Shelby GT GC sold for $70,200
  2. 1952 Nash-Healey Pininfarina sold for $70,200
  3. 1968 Dodge Hemi Charger sold for $68,580
  4. 2001 Aston Martin DB7 sold for $50,760
  5. 1955 Chevrolet Bel Air Convertible sold for $44,820
  6. 1955 Chevrolet Two-Door Post sold for $39,960
  7. 1970 Dodge Challenger RTSE sold for $38,340
  8. 1934 Ford Custom sold for $36,180
  9. 1965 Pontiac LeMans Convertible sold for $31,860
  10. 1969 Chevrolet Big Block Corvette sold for $30,888

2016 Results through Friday
Total: $1.9M
171/312 lots sold: 55% sell-through rate
Average Sale Price: $10,937

WORLDWIDE AUCTIONEERS
(Worldwide Auctioneers’ sale ended Wednesday)
Total: $11.9M
67/82 lots sold: 82% sell-through rate
Average Sale Price: $177,658

Overall Top 10 Sales:

  1. 1967 Chevrolet Corvette 427/430 Convertible sold for $1,980,000
  2. 1955 Lancia Aurelia B24 Spider America sold for $1,100,000
  3. 1966 Shelby GT350 Convertible sold for $742,500
  4. 1965 Shelby GT350 Fastback sold for $379,500
  5. 1962 Aston Martin DB4 Sedan sold for $37,4000
  6. 2005 Ferrari 575 Superamerica Convertible sold for $313,500
  7. 1933 Packard Super Eight-Series Coupe Roadster sold for $308,000
  8. 1955 Porsche 356A Speedster sold for $297,000
  9. 1937 Bentley 4 1/4-Litre Fixed-Head Coupe sold for $286,000
  10. 1953 Porsche 356 Cabriolet sold for $275,000

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