Fewer cars rolled across the block than in recent years during the auctions in Scottsdale, but the amount bid for the vehicles sold increased from last year, substantially in some cases. When compared to last year, sell-through was better, average prices per car sold were higher, more automobilia was purchased, and the number of people in attendance had increased as well.
Leading the way in the number of cars sold and sheer spectacle in presentation, Barrett-Jackson was able to sell all but three of the 1,294 lots presented for an impressive $90.6 million (a 32 percent increase from last year). The results for the Salon Offering Collection were equally as impressive with a record selling price of $2,915,000 for a 1948 Tucker Torpedo, an exceptional 1947 Bentley Mark VI by Franay for $2.75 million and a 1954 Mercedes-Benz 300 SL Gullwing with only 4,159 miles for a world-record $2.2 million for a steel bodied car.
Once again, however, for the fifth consecutive year, Gooding & Co. brought home the trophy for the highest price realized with $4.62 million for a 1955 Mercedes-Benz 300 SL Alloy Gullwing. Not far behind was the 1959 Ferrari 250 GT LWB California Spyder at $3,905,000. In all, 13 world records were established by Gooding and seven cars were sold in excess of $1 million each to the cheers from the well-heeled crowd on hand. The sell-through was only two cars from perfection, leading to a total yield of $39.8 million for 116 cars sold.
RM Auctions continued to record impressive results from the Biltmore with almost $25 million bid for 140 lots. Sell-through was strong at 89 percent and bidders hailed from around the globe with 21 countries represented. The auction house continued to build on its reputation as Maranello West with some truly fascinating Ferraris crossing the block including an F40 Berlinetta with less than 300 miles and delivered new to Lee Iacocca trading hands at $781,000 after heated bidding.
Russo & Steele continued to post strong numbers for its “Sports and Muscle” offerings with 401 cars sold at $18.2 million headlined by a pair of limited production Corvettes. With an inaugural sale held at the dramatic Westin Kierland Resort, Bonhams sold every lot from the automobilia collection of the late David E. Davis, Jr., and reported sales of $6.7 million for its first swing through Scottsdale, headlined by a 1937 Mercedes-Benz 540K Cabriolet C.
In total, sales came in some $25 million higher than last year with marked attendance increases plainly visible throughout the Valley of the Sun. There is reason to look forward to the coming year with optimism if this one week in Scottsdale was any glimpse into the future.
