Over the course of the past 20 years, Mitch Silver’s trio of annual collector car auctions on the Fort McDowell reservation in Arizona have provided both vintage vehicles for sale and a respite from the sales extravaganzas taking place not far to the west in Scottsdale and Phoenix. Those auctions will continue, but with new ownership. Continue reading
A couple of days ago, our collector car marketplace analyst Andy Reid shared word that while the tip of the auction iceberg is solid (at least if the car you’re selling is immaculately preserved or restored and has stunning provenance), the values of much of the mass of cars below the surface, those with six-figure valuations, is, well, melting. Continue reading
With 600 cars on its docket, Silver Auctions celebrates its 20th anniversary with its annual Arizona Car Week sale at Fort McDowell.
Three times a year, Mitch Silver brings his laid-back collector car auctions to the Fort McDowell Casino in Arizona: In January during the famous Classic Car Week in the Phoenix/Scottsdale area, in March as the snowbirds prepare to fly back to their northern homes, and in November to catch the snowbirds as they return for the sunny winter season.
The fourth annual Arizona in the Fall auction is happening this weekend with the goal of providing a cool set of fun wheels for the out-of-town folks to enjoy over the winter, and possibly re-sell at Silver in the spring. But it’s also just a fun, local sale in which old-car fans can engage without spending a whole lot of money. Continue reading
Silver Auctions held its annual “Arizona in the Spring” sale over St. Patrick’s Day weekend at Fort McDowell resort and casino near Fountain Hills, Arizona. The docket showcased a series of diverse and opulent vehicles that ranged from classic Bel Airs and late model Camaros, from Rolls-Royce Phantoms to BMWs. Continue reading
This morning I set out to cover the Spring Silver Auction at the Fort McDowell resort just beyond the Fountain Hills, Arizona.
Usually, it’s a relatively quick drive along Shea Boulevard from my home in Scottsdale. Saturday, it was anything but that. Continue reading
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
While the various Arizona Auction Week sales enjoyed some $251 million in transactions and an overall sell-through rate of more than 80 percent, there were a number of no-sale cars this year, and many of them would have sold a year ago for the same high bids that were rejected this time.
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
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