Ferraris reign supreme at Phoenix car auctions as Barrett-Jackson sets record









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Jan 20, 2014, 1:27pm MST Cathy Luebke Guest blogger- Phoenix Business Journal

Ferraris reigned supreme at RM and Gooding & Co. classic car auctions in Scottsdale, while an all-American nameplate was the top draw at Barrett-Jackson as sales hit new highs.

As expected, RM’s headliner was a 1958 Ferrari 250 GT LWB California Spider, which topped the two-day sale at $8.8 million. Overall sales hit $45 million with 10 million dollar-plus sales. That topped last year’s total of $38 million. Gooding tallied up more than $49 million at its Scottsdale Fashion Square location with an average price of $449,650 per car.

“2014 looks brighter than ever for the high-end collector car market. Supporting this trend, Gooding & Co. broke nine world records during Arizona auction week,” saysDavid Gooding, company founder and president.

At $6.2 million, the top sale at Gooding’s auction was another 1958 Ferrari, this time a dark blue 250 GT Series 1 Cabriolet. In all, six cars sold for more than $2 million and 13 sold for more than $1 million.

Meanwhile, the third annual Bonhams auction at the Westin Kierland Resort & Spa nearly doubled last year’s results with sales of nearly $25 million at the one-day event.

Top cars included a 1931 Alfa Romeo 6C 1750 Supercharged Zagato Gran Sport Spider, which achieved a new world auction record for the model at $3.08 million. A 1951 Ferrari 212 Export Touring Berlinetta went for $3.19 million to an American collector as a bidding battle raged in the room and on the phone.

Barrett-Jackson’s top sale was a drag-racing 1967 L88 Corvette at $3.85 million, including buyer commission. Announcers said only 20 such cars were built, this being the only red-on-red version.

The sale was part of an elite Salon Collection Saturday that focused on American cars. A second Salon group hit the block later that day.

As always, charity cars were a big hit and included sale of the first new-generation Ford Mustang to hit the streets, marking the pony’s 50th anniversary in 2015. The $300,000 raised will help fund Type 1 diabetes research. The 2015 Mustangs will arrive in dealerships this fall.

The six-day Barrett-Jackson auction also is expected to set a record with sales topping $100 million, according to Fox Sports, which broadcast much of the auction action live.




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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.





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