“Education is the best provision for old age.”
-Aristotle, from Diogenes Laertius, Lives of Eminent Philosophers
Jan 15, 2014, 7:48pm MST Cathy Luebke Guest blogger- Phoenix Business Journal
Barrett-Jackson Auction Co. took in $4.6 million as classic cars began crossing the block Tuesday and experts expect a good week ahead for all six auction companies showcasing cars in the Phoenix area.
“All the auction companies will do well,”Keith Martin, publisher of Sports Car Market and American Car Collector, told attendees at the Phoenix Automotive Press Association auction week preview Tuesday night. Prices on high-end cars finally have made the huge correction from the 1990s crash.
Two Fords tied for the top sale as Barrett-Jackson was the first to kick off bidding. A 2013 Ford Mustang 2-Door Coupe and a 1969 Ford Talladega Fastback both fetched $110,000, the former one of two sales benefiting cancer research byTranslational Genomics Research Institutein Phoenix. Attendance already is up 25 percent over 2013, officials say.
A new event also helped rev up auction week, the inaugural Arizona Concours d’Elegance, drawing 2,000 spectators to the Arizona Biltmore Sunday.
John Carlson, the Concours chief judge and another panelist at the PAPA preview, was very impressed with Phoenix’s first effort. That’s high praise coming from the man who’s judged many Concours, including the renowned Pebble Beach event.
Ian Kelleher of RM Auctions says 2013 was a banner year but 2014 is expected to be even better. The Phoenix auction tallied up $38 million of the company’s total $440 million sales last year.
One of RM’s highlights is expected to be a 1958 Ferrari 250 GT LWB California Spider with a sales estimate between $7 million and $9 million.
A couple Ferraris, a 1961 350 GT Coupe Special and a 1967 330 GTS, are expected to headline the Gooding & Co. auction.
One of the Bonhams’ star cars is expected to be a 1931 Alfa Romeo 6C 1750 Supercharged Gran Sport Zagato Spider, fetching between $2.4 million and $2.7 million.
Million-dollar estimates aside, the PAPA panel doesn’t expect any superstars. “I don’t see any $20 million cars here,” Martin says. Sales will be strong, though, because collectors have money to spend.
As for advising would-be buyers, the experts continue to advocate research and to focus on what interests you and raises your passion.
You want a Concours trophy, go to the store and buy your own, Carlson says. “The key for me and a lot of my friends is to have fun with our cars.”
A number of crowd members at the PAPA event expressed concern that the classic car industry would wane as baby boomers fade out of the picture.
It’s hard to tell how the industry will evolve with the next generation, Martin says. Boomers know the feel of a 1960s classic, but younger kids don’t. Plus, older cars are the “real deal” as designers followed their passion versus so many government regulations, he says. “Cars have moved from personal passion to utility.”
Carlson is more confident about the future of classic car collecting. “I think we are living in the greatest muscle car era of all time,” he says, noting high-performance rides such as Camaros and Corvettes.
Another panelist, Corky Coker, president of Coker Tire, which makes tires for vintage cars and star of the new Travel Channel show “Backroads Gold,” says there is more competition for people’s interests today. But based on his company’s tire sales, the industry is thriving.
Plus, blogs and TV coverage of classic cars are a shot in the arm to the industry, Coker says. People see a car go across the block that’s like one they may have and decide to get it fixed up.
“The impact of this weekend and the increase in values is really affecting our industry,” he says.
While sales most auctioned cars will average over six figures, Mitch Silver of Silver Auctions says of his event, “You don’t have to bring your big checkbook.”
The annual Silver sale at Fort McDowell Casino is often called the week’s most fun event for its informal style. There will be $80,000 cars but also some in the 20s, Silver says. And $5,000 cars, “I’m going to have a handful of them too.”
Auction dates
- Barrett-Jackson, Jan. 12-19, WestWorld, Scottsdale
- RM Auctions, Jan. 16-17, Arizona Biltmore
- Gooding & Co., Jan. 17-18, adjacent to Fashion Square Mall
- Russo & Steele, Jan. 15-19, 18601 N. Scottsdale Road, Scottsdale
- Bonhams, Jan. 16, Westin Kierland Resort & Spa
- Silver Auctions, Jan. 17-18, Fort McDowell Casino
A little about me and my expertise – video
COMMERCIAL – INVESTMENT BROKER – LANDSPECIALIST- ARIZONA
https://www.youtube.com/watch?v=PPs3kpKR4nY
http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history
3
Facts of Arizona – year 1848 to 2013
http://walter-unger.com/?p=9507
4.
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Investment Properties in Phoenix.
View my listings and my profile at:
http://www.loopnet.com/profile/14101172900/Walter-Unger-CCIM/Listings/
Please go to my web-site and get all the newsflashes and updates in Commercial Investment Real Estate in Phoenix and Commercial Investment Properties in Phoenix daily
Follow me on Facebook:
http://www.facebook.com/ungerccim
Follow me on Twitter:
https://twitter.com/Walterunger
Follow Me on Linkedin:
https://www.google.com/search?q=linkedin+pub+walter+unger+ccim+782+920&channel=linkdoctor
Follow Me on Google+
https://plus.google.com/u/0/b/114560883588623379451/
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial Investment Real Estate Broker in Arizona now for 20 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.
WHETHER YOU LEASE OR OWN
NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.
we are at on the a rise of the cycle in Commercial Real Estate. so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix. The prices on deals I may get you will not be around forever.
WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME
We barely could give land away the last few years, but times are changing. Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.
If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207 or Office:480-948-5554
PLEASE NOTE, I CHANGED BROKERAGES BUT CELL PHONE AND E-MAIL STAY THE SAME.
Thank You
Walter
Walter Unger CCIM
Associate Broker, West USA Commercial Real Estate Advisers
7077 E. Marilyn Road, Bldg 4, Suite 130
Scottsdale, AZ 85254
Cell: 520-975-5207
Office : 480-948-5554
Fax: (480-658-1172
View my listings and my profile at:
http://www.loopnet.com/Profile/14101172900/Walter-Unger-CCIM/
a little about me and my expertise – video
commercial-investment real estate adviser-land specialist
https://www.youtube.com/watch?v=PPs3kpKR4nY
Delivering the New Standard of Excellence in Commercial Real Estate
- Commercial Real Estate Scottsdale
- Commercial Real Estate Phoenix
- Commercial Real Estate Arizona
- Commercial Investment Properties Phoenix
- Commercial Investment Properties Scottsdale
- Commercial Investment Properties Arizona
- Land Specialist Arizona
- Arizona Land Specialist
- Land Specialist Phoenix
- Phoenix Land Specialist
- Land For Sale Phoenix
- Land for sale Arizona
- Commercial Properties For Sale Phoenix
- Commercial Real Estate Sales Phoenix
- Commercial Properties Phoenix
- Commercial Properties Arizona
- Commercial Land Specialist Phoenix
- Commercial Land Phoenix
- Multifamily land Phoenix
- Retail Land Phoenix
- Industrial Land Phoenix
- Land Commercial Phoenix
- Land Retail Phoenix
- Land Industrial Phoenix
- Land Multifamily Phoenix
- Industrial Land for sale Phoenix
- Land Industrial
- P
- Investment Real Estate
Disclaimer of Liability
The information in this blog-newsletter is for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.