Worldwide’s Arizona debut includes two million-dollar sales

Worldwide Auctioneers made its debut Wednesday night at Arizona Car Week with a well-attended — standing-room-only — sales room and  a nicely loaded 82-car docket that was so well received that two cars each sold for a million dollars or more.

The million-dollar cars were a 1967 Chevrolet Corvette L-88 roadster and a 1955 Lancia Aurelia GT B24S Spider America.

The Corvette was one of only 20 produced for the 1967 model year and one of only 10 with open cockpits. It also was the only one that left the assembly line wearing Silver Pearl paint. Its value also was enhanced by having been part of the Otis Chandler and Kevin Suydam collections.

The opening bid on the car was $1 million and auctioneer Rod Egan hammered the car sold at $1.8 million, good for a final figure of $1.98 million when the buyer’s commission is included.

The Lancia was one of only 181 such cars built with left-hand steering, and such a car qualifies its owner for all sorts of international and national vintage rallies. It hammered sold for $1 million, so the final purchase price with sales fees is $1.1 million.

While the Corvette sold for a figure within its pre-auction estimated value range, the Lancia fell just short. Most of the cars that sold also went to their new owners for hammer prices just below their pre-auction estimated values, though in many cases the 10 percent sales commission boosted the realized prices into pre-sale ranges.

Some cars weren’t bid to their reserve prices, but in several cases they were close enough that they may have or will be sold as the auction house gets the seller and high bidder together for post-block negotiations.

Rather than the typical announcement of the reserve price being lifted during bidding, Egan simply told the bidders that, “the car is in the market.” He also enjoyed some banter with bidders.

When a woman let out a squeal after the sale of a 1965 Shelby GT350 Mustang, Egan asked if it was a happy wife.

“A happy mother,” the woman responded after her son had made the winning bid on the car.

In another case, when a bidder seemed surprised to have won a car, Egan assured the person, “It’s your car. Be happy.”

Sixty-two of the 82 vehicles were hammered sold during the sale.

A 1966 Shelby GT350 convertible was hammered for $675,000. Other hammer prices of $225,000 or more were registered on a 1963 Chevrolet Corvette Z06 “Tanker,” a farm-found 1961 Aston Martin DB4, a 1933 Packard 1004 coupe roadster, a 1965 Shelby GT350 fastback, a 1955 Porsche 356A/1600 Speedster, a 1937 Bentley 4 1/4-liter fixed-head coupes, a 1953 Porsche 356/1500 “Bent Window” cabriolet, a 2005 Ford GT, the 1965 Mercedes-Benz 230 SL roadster originally owned by John Lennon of the Beatles, and a 1937 Packard Twelve 1507 Convertible Victoria.

Among cars missing owner’s reserves were a 1995 Bugatti EB110 that was bid to $590,000 and a 1979 BMW M1 that didn’t sell at $340,000.

Official results will be reported after any post-block sales are concluded.

Worldwide also has auctions scheduled for April 21-22 in conjunction with the Concours d’Elegance of Texas in Arlington and during the Labor Day weekend in Auburn, Indiana.

Pending post-block sales, Hagerty, the collector car insurance and valuation tracking specialist which tracks each sale at each of the Arizona auctions, reported that Worldwide’s inaugural Scottsdale visit  had posted $11.9 million in sales with an 82 percent sell-through rate, impressive figures for a first-time event.

Here is Hagerty’s daily update for the Arizona auctions through Wednesday evening (figures include buyer’s premium):

Overall through Wednesday from all auction companies

Cumulative total: $29.6 million
704/719 lots sold: 98 percent sell-through rate
Average sale price: $41,982

2016 cumulative results through Wednesday (for comparison)
Cumulative total: $14.6 million
462/462 lots sold: 100 percent sell-through rate
Average sale price: $31,585

Top 10 Sales from all auctions through Wednesday:

1. 1967 Chevrolet Corvette 427/430hp L88 Convertible, $1,980,000 (Worldwide)
2. 1955 Lancia Aurelia B24 Spider America, $1,100,000 (Worldwide)
3. 1966 Shelby GT350 Convertible, $742,500 (Worldwide)
4. 1965 Shelby GT350 Fastback, $379,500 (Worldwide)
5. 1962 Aston Martin DB4 Sedan,r $374,000 (Worldwide)
6. 2005 Ferrari 575 Superamerica Convertible, $313,500 (Worldwide)
7. 1933 Packard Super Eight-Series Coupe Roadster sold for $308,000 (Worldwide)
8. 1955 Porsche 356A Speedster sold for $297,000 (Worldwide)
9. 1937 Bentley 4 1/4-Litre Fixed-Head Coupe, $286,000 (Worldwide)
10. 1953 Porsche 356 Cabriolet,$275,000 (Worldwide)

Barrett-Jackson

Cumulative total through Wednesday: $17.7 million
637/637 lots sold: 100 percent sell-through rate
Average sale price: $27,710

Overall Top 10 Sales:

1. 1958 Chevrolet Corvette 283/230hp Convertible, $111,100
2. 1990 Ford Mustang 7 Up Limited Edition Convertible, $82,500
3. 1968 Ford Bronco Pickup 4×4, $82,500
4. 1955 Chevrolet Bel Air Custom Nomad Station Wagon, $82,500
5. 1965 Ford Mustang 289/225hp Convertible, $82,500
6. 1956 Chevrolet 210 Custom Sedan,r $80,300
7. 1989 Ford Mustang 5.0 LX Hatchback, $71,500
8. 1955 Chevrolet 210 Custom Sedan, $71,500
9. 1969 Chevrolet Nova SS 396/375hp Coupe, $71,500
10. 1970 Pontiac GTO Judge 400/366hp Hardtop Coupe, $70,400

2016 Results through Wednesday
Cumulative total: $14.6 million
462/462 sold: 100 percent sell-through
Average sale price: $31,585

Worldwide Auctioneers

Total: $11.9 million
67/82 lots sold: 82 sell-through sell-through rate
Average sale price: $177,658

Overall Top 10 Sales:

1. 1967 Chevrolet Corvette 427/430hp L88 Convertible, $1,980,000
2. 1955 Lancia Aurelia B24 Spider America, $1,100,000
3. 1966 Shelby GT350 Convertible, $742,500
4. 1965 Shelby GT350 Fastback, $379,500
5. 1962 Aston Martin DB4 Sedan, $374,000
6. 2005 Ferrari 575 Superamerica Convertible, $313,500
7. 1933 Packard Super Eight-Series Coupe Roadster, $308,000
8. 1955 Porsche 356A Speedster, $297,000
9. 1937 Bentley 4 1/4-Litre Fixed-Head Coupe, $286,000
10. 1953 Porsche 356 Cabriolet, $275,000

(Prices include buyer’s premium.)