Category archives: Auctions

2016 Arizona auction sales total tops $256 million

Cars on the block at Barrett-Jackson | Larry Edsall photos
Cars on the block at Barrett-Jackson | Larry Edsall photos

Now that they’ve had time to check their figures and to add in post-block sales, the six collector car auction houses doing business last month in Arizona report total combined sales of more than $256 million.

While that figure is less than the nearly $293 million in sales last year, a number that was boosted by the sale at Barrett-Jackson of the huge Ron Pratte Collection, the $256 million total exceeds the strong 2014 auction sales results of more than $248 million. Continue reading

Gooding reveals full list of Jerry Seinfeld cars coming to auction

Three eras of Porsche Speedsters will be offered by Jerry Seinfeld at Gooding’s Florida auction | Gooding & Company photos
Three eras of Porsche Speedsters will be offered by Jerry Seinfeld at Gooding’s Florida auction | Gooding & Company photos

Gooding & Company has revealed the full list of 18 cars that comedian and avid Porsche collector Jerry Seinfeld has consigned for the Amelia Island Auction in March. The cars – 16 Porsches and two Volkswagens – are scheduled to cross the block March 11 when Gooding holds its annual auction during the Amelia Island Concours d’Elegance weekend in Florida. Continue reading

Bardinon Ferrari sets auction record* at Artcurial’s Paris sale

1957 Ferrari racer set auction records for highest price paid in euros or British pounds | Artcurial Motorcars photo
1957 Ferrari racer set auction records for highest price paid in euros or British pounds | Artcurial Motorcars photo

Leading up its annual sale at Retromobile, Artcurial had talked about a pre-auction estimated value of $30 million to $34 million for the 1957 Ferrari 335 S Scaglietti from the Pierre Bardinon Collection. The car crossed the block Friday in Paris and sold for $35.7 million (with buyer’s premium), which Artcurial said is the most ever paid for a collector car at auction (based on its price in euros).

* The price in euros was 32.1 million. Artcurial said the price also is a record when converted into British pounds (24.7 million). It is not a record in U.S. dollars, in part because of the recent strength of the dollar compared to other currencies. Continue reading

Ferraris dominate top 10 at Bonhams sale in Paris

1966 Ferrari 275 GTB Berlinetta is high-dollar sale at Bonhams Paris auction | Bonhams photo
1966 Ferrari 275 GTB Berlinetta is high-dollar sale at Bonhams Paris auction | Bonhams photo

First, RM Sotheby’s posted nearly $21 million in sales at its Paris auction during Retromobile week. Now comes word that Thursday, the day after RM Sotheby’s event, Bonhams’ Grand Palais sale did more than $16 million at its auction in Paris. Today and Saturday, it’s Paris-based Artcurial’s turn on the block, and with a 1957 Ferrari 335 S Spider that carries a $30 million pre-sale estimated value. Continue reading

RM Sotheby’s hits $21 million for 48 cars at Paris sale

A 1955 Porsche 550 Spyder sold for $3 million at the Paris auction | RM Sotheby's photos
A 1955 Porsche 550 Spyder sold for $3 million at the Paris auction | RM Sotheby’s photos

RM Sotheby’s had a very tight schedule following its successful collector car auction January 28-29 in Arizona, packing up and flying off to Paris for its Retromobile auction on Wednesday. They made it, and held a sale that reached nearly $21 million for 48 sold out of 61 cars, a 79 percent rate.

The star of the show was a spectacular Porsche, a 1955 Spyder with racing history that sold for a convincing $3 million (all sales results converted from euro and include auction fees), the highest sale that took place during the auction. Continue reading

Arizona auctions showed a changing market, not a retreat

This 1992 Ferrari 512 TR sold at Barrett-Jackson for nearly $360,000, part of the rising interest in later exotics | Matthew Fink
This 1992 Ferrari 512 TR sold at Barrett-Jackson for nearly $360,000, part of the rising interest in later exotics | Matthew Fink

The collector car auctions last week in Arizona did not result in a major shakeout or a bursting bubble, as some had feared. But they did show a general stagnation of prices overall compared with the boom of the past few years, with some bright spots but also some receding values.

Auction analysts are poring over the numbers, sifting through the more than 2,000 cars that sold at six auctions in the Scottsdale/Phoenix area. They’ll draw conclusions about what happened, but some things are already apparent. Continue reading

McKeel Hagerty talks ‘Mona Lisa cars’ and ‘mustache muscle’

1936 Mercedes-Benz 540, a 'Mona Lisa' car, rolls onto the block at RM Sotheby's | Larry Edsall photo
1936 Mercedes-Benz 540, a ‘Mona Lisa’ car, rolls onto the block at RM Sotheby’s | Larry Edsall photo

The collector car equivalent of Chicken Little is wrong. The sky isn’t falling. We haven’t rolled back the clock to the era of the gold-chain speculators. A bubble hasn’t burst. It is not time to panic.

Says who? Says McKeel Hagerty, that’s who, and as the largest insurer of classic and collector vehicles, Hagerty monitors the pulse of the hobby as closely as anyone. Continue reading

Preliminary Arizona auction figures show slowing market

Cars await their trip to the block at Russo and Steele, where sales figures were up compared to 2015 | Larry Edsall photo
Cars await their trip to the block at Russo and Steele, where sales figures were up compared to 2015 | Larry Edsall photo

Preliminary figures from the six classic car auctions held last week in Arizona show total sales of $250.6 million, according to Hagerty, the insurance and vehicle value-tracking company that monitors each of the auction venues.

The same auctions did $292.5 million last year, but that figure included sales of the big Ron Pratte Collection of cars and automobilia which added a full day of sales to the Barrett-Jackson schedule. Continue reading