The auctions at Amelia Island were very interesting to watch, with entry-level cars still seemingly on the rise and with the modern classic market still pretty hot, though showing some signs that it is leveling a little. Continue reading
Just when you thought the Porsche passion had crested, a new wave of 911s, 356s, race cars and exotics from the German sports car brand washes into the Scottsdale/Phoenix area for the seven auctions of Arizona Car Week. The prophesized burst of the bubble has not occurred, although values have flattened somewhat.
The classic 911 experienced the greatest run-up in prices during the past four years, with many former entry-level models reaching toward six figures, and more-desirable cars going well beyond. The upcoming Arizona auctions are again awash in 911s, with the total number just slightly less than last year’s selection. Continue reading
For a quarter century, the Gordon McCall Motorsports Revival at the Monterey Jet Center has been the major high-society hoedown of the California peninsula’s famous weeklong late-summer celebration of collector cars.
Starting in January, Arizona Classic Car Week in the Scottsdale/Phoenix area will have its own exclusive jet-center party, the Arizona Jet Center Event, to be held Wednesday, January 18, 2017, at the Jet Hangar of JetLinx Aviation at the Scottsdale Airport. Continue reading
Worldwide Auctions has announced that it is adding its gavel to Arizona Auction Week, with a sale of about 80 collector cars set for January 18 in Scottsdale’s Old Town district.
That will bring to seven the number of auctions that take place in the Scottsdale/Phoenix area during the annual old-car festival, more than any similar cluster of collector car sales in the U.S.; the Monterey, California, area hosts five auctions during Pebble Beach Concours week. Continue reading
For the first time, Porsches surged into the lead as the most prevalent brand seen at the collector car auctions this year during Monterey Car Week, upending the usual dominance of Chevrolet, according to the latest graph from Hagerty collector car insurance and valuation. Continue reading
Lessons learned in Monterey:
1. You do not sell nearly 90 Porsche cars at the same auction.
2. If you have a very-rare, high-dollar car, you do sell it at auction.
3. If you have a sub-40,000-dollar car, you do not sell it at auction in Monterey
4. For more-common Enzo-era Ferraris, the market is flat as it is for 308s and Testarossas.
5. If you have a truly important historic racer, you sell it nowhere else than at Monterey. Continue reading
The rapid rise of values for Porsche 911s has brought many of them out of hiding and onto the auction stage, with the earlier model-year cars still commanding unheard-of prices.
The latest Porsche collection to hit the bidding circuit is being offered in an online auction with 27 cars from a private enthusiast ranging from a 1974 911 Carrera coupe to several low-mileage 2013 911s. Pre-auction value estimates range from the low $30,000s to $166,000, with all the cars carrying reserve prices. Continue reading
I heard from a lot of people about the weak classic car market after the Arizona auctions. I contended that the market is not weak but has just slowed down a bit.
If the sales at Amelia Island last week told us anything, it is that great cars are still selling for very strong money. Sure, we are not seeing the huge monthly increases that we have seen over the past few years, but the market, in my opinion, is still very strong indeed. Continue reading
A collective sigh of relief rose across Amelia Island on Saturday as the last hammer fell on the five classic car auctions that crowd the three days running up to the concours d’elegance on Sunday.
After the fairly flat sales results that came out of Scottsdale in January, the Amelia Island sales rang up strong numbers that assuaged fears about the health of the marketplace while also establishing the annual Florida automotive festival as a leading venue for selling high-end collector cars. Continue reading
The Arizona classic car auctions in Scottsdale and Phoenix were pushed back a week in January, resulting in the Retromobile sales in Paris following immediately thereafter. The differences between the two world-class collector car events are striking, according to the Hagerty insurance and valuation company, which compiled a pair of graphs to compare the results. Continue reading