Arizona auctions provide strong start to 2015

The January auctions in Arizona are often considered a bellwether for the hobby, and if that is true, 2015 is off to a strong start. The sales totals accumulated by Hagerty show that a total of $292.8 million worth of iron sold in Scottsdale and Phoenix last week, a figure that surpassed last year’s total of $248 million for an increase of 18 percent (this figure includes each auction house’s buyer’s premium). Among all auction companies that hosted sales in Arizona last week – Silver, Russo and Steele, RM Auctions, Bonhams, Barrett-Jackson and Gooding & Co. – a total of 2,939 lots were offered, of which 2,532 were sold. The total sell-through rate was 86 percent, and the average sale price was $115,729.

Of the $292.8 million in sales last week, $35.5 million was derived from the sale of the Ron Pratte Collection, the proceeds of which went to charity upon their sale at the Barrett-Jackson auction. Notable vehicles in the Pratte Collection included a General Motors Futurliner (sold for $4 million) and a 1954 Pontiac Bonneville Special concept car (sold for $3.3 million). These prices are very close to those Pratte paid for the vehicles at earlier Barrett-Jackson sales.

Overall, Ferrari did extremely well wherever they were represented, and during Arizona auction week, they claimed 8 of the 11 slots in the top 10 sale prices (two Ferraris tied for the tenth slot).

Old Cars Weekly’s Phil Skinner, B. Mitchell Carlson and Roy Velander were there at the Arizona sales; watch for their line-by-line sales results and auction highlights from top auctions in an upcoming issue of the magazine.

Overall Top 10 Sales recorded by Hagerty:

*Car sold for charity

During its 10-day auction held Jan. 10-18 at WestWorld in Scottsdale, Barrett-Jackson recorded more than $130 million from its 1,611 vehicle sales and a world record $6.55 million in automobilia sales, making it the company’s highest auction in sales to date. The Ron Pratte Collection alone brought in over $40.44 million in vehicle and automobilia sales.

“This year’s Scottsdale auction was on a scale unlike anything in our 44-year history,” said Craig Jackson, chairman and CEO of Barrett-Jackson. “From sales and consignments to our ratings on Discovery and Velocity, we smashed records at every level. Our week kicked off with a gala and continued to build excitement with our largest vehicle consignment in history, including the sale of the Ron Pratte Collection on Tuesday. Everyone who attended this year’s Scottsdale auction was a part of automotive history.”

In addition to the record-setting docket, a record number of bidders attended the Barrett-Jackson Scottsdale auction for a chance to purchase from the wide range of American muscle, European classics, exotic sports cars and one-of-a-kind customs. The top 10 cars sold in Scottsdale include:

• 1966 Shelby Cobra 427 Super Snake (Lot #2509) – $5.1 million
• 1950 GM Futurliner Parade of Progress Tour Bus (Lot #2501) – $4 million
• 1954 Pontiac Bonneville Special Motorama Concept Car (Lot #2500) – $3.3 million
• 1949 Talbot-Lago T-26 Grand Sport Franay (Lot #5087) – $1.65 million
• 1965 Shelby Cobra 427 Roadster (Lot #5090) – $1.595 million
• 1955 Mercedes-Benz 300SL Gullwing (Lot #5075) – $1.1 million
• 1937 Mercedes-Benz 320B Cabriolet (Lot #5086) – $1.045 million
• 1936 Delahaye “Whatthehaye” Street-Rod (Lot #2515) – $671,000
• 1991 Ferrari F40 (Lot #5071) – $643,500
• 1953 Mercedes-Benz 300S Cabriolet (Lot #5076) – $643,500

“It’s been an absolute pleasure working with Ron and building his collection over the years,” said Steve Davis, president of Barrett-Jackson. “It’s been as equally rewarding to work with him to prepare for this once-in-a-lifetime sale of his vehicles. Ron took great pride in the cars and automobilia. He painstakingly restored many of the vehicles, making them truly outstanding collectibles. It’s wonderful to see ownership of some amazing vehicles pass along to new collectors.”

Led by the 1950 GM Futurliner (Lot #2501) that raised $4,650,000 ($4 million bid and $650,000 in additional pledges) on Saturday evening, a total of 10 cars crossed the Scottsdale auction to raise $8,735,000 to benefit local and national charities. The Futurliner was donated by Pratte, a Vietnam veteran, to benefit the Armed Forces Foundation. The other nine charity auctions were:

• 2015 Jeep Wrangler Custom SUV (Lot #3001), donated by SEMA to benefit Child Help and Victory Junction – $85,000
• 2015 BMW M5 (Lot #3002), donated by BMW to BMW Car Club of America Foundation and Tire Rack Street Survival Program – $800,000
• 2016 Cadillac CTS-V (Lot #3003), donated by GM to benefit College for Creative Studies – $170,000
• 1979 Oldsmobile Cutlass Hurst (Lot #3004), donated by Joe Riley for Cancer Research Fund at TGen in memory of Russ and Brian Jackson – $140,000
• 1939 Cadillac LaSalle C-Hawk Custom Roadster (Lot #3005), donated by Bubba Watson for Birdies for the Brave – $410,000
• 2015 Chevrolet Corvette Z06 Convertible “1st Retail” (Lot #3006), donated by GM for United Way – $800,000
• 1999 Chevrolet Monte Carlo NASCAR Busch Series Stock Car (Lot #3007), donated by Jeff Gordon and Ray Evernham for Jeff Gordon Children’s Foundation – $500,000
• Ford Shelby GT350R VIN #001 Coupe (Lot #3008) donated by Ford for Juvenile Diabetes Research Foundation – $1,000,000
• 2014 Victory Cross Country 8-Ball Motorcycle (Lot #3009), anonymously donated to benefit Ride 2 Recovery – $180,000

The 2015 Barrett-Jackson Scottsdale auction was a star-studded extravaganza and included some of the brightest celebrities on the movie screen and TV, as well as from the sports industry and corporate world. Some of the biggest stars included four-time NASCAR Sprint Cup Series champion Jeff Gordon, two-time Masters champion Bubba Watson and Hollywood stars Sharon Stone and Tim Allen.

Throughout 2015, Velocity and Discovery Channel will broadcast more than 100 hours of Barrett-Jackson coverage that will include auctions in West Palm Beach, Fla., as well as Reno and Las Vegas, Nev., in 2015.

The stunningly beautiful and fast 1966 Ferrari 275 GTB Competizione that won its class at Le Mans, Spa and Imola zoomed to the forefront of Bonhams’ Scottsdale auction on Jan. 15 when it sold for $9,405,000, setting a new world auction record for the model and also making it one of the most valuable cars ever auctioned in Arizona.

Bonhams’ fourth-annual event was at full capacity in the Westin Kierland Resort & Spa, with an audience of international bidders spilling outside the auction pavilion and onto the lawns where TV monitors broadcast the sale. Those bidders helped the auction house declare $25 million in sales with a near 90 percent sell-through rate.

Of the curated selection of 84 automobiles on offer, Ferrari was well represented as were notable motorcars from every era, many of which achieved very impressive results.

The 1955 Mercedes-Benz 300SL “Gullwing” coupe formerly owned by Lord O’Neill, Prime Minister of Northern Ireland, made $1,375,000 after it was the subject of spirited bidding from collectors in attendance and on phones. Another Teutonic gem that was the focus of intense interest was the silver 1958 Mercedes-Benz 300SL Roadster with red interior, which achieved $1,237,500.

The very original 1964 Shelby Cobra 289 that had been in single-family ownership since new drew an enormous amount of attention and finally sold to a private American collection for $1,017,500.

Representing veteran and vintage cars, a Humber and a Kissel realized new world auction records for their marques. The British-built 1904 Humber 8.5hp Twin-Cylinder Two-Seater made $148,500 while the American-built 1926 Kissel 6-55 Gold Bug Speedster sold for $286,000.

Other notable results came from a 1953 Mercedes-Benz 300S coupe that achieved $511,500, while a pair of Ferrari 512 BBi models, a 1982 and a 1984, made more than double their pre-auction estimates with the former making a new auction record for the model when it sold for $357,500.

From Bonhams’ popular automobilia section, a 1929 opalescent “Vitesse” glass mascot by René Lalique exceeded expectations when it was bought by an American collector for $35,000. Bonhams reported strong demand for other Lalique items offered during its Scottsdale sale.

“Year on year our auction here in Scottsdale has grown in both reputation and results,” said James Knight, Bonhams Group Motoring Director. “Our selection is focused but diverse, representing the very best of the car collecting hobby, and we’re very pleased with the results and with the strong support demonstrated by clients from around the world.”

For a full list of results from Thursday’s sale, visit Bonhams.com/Scottsdale. Bonhams’ next sale will be its Amelia Island auction on March 12. Go to Bonhams.com/Amelia for more information.

Gooding & Company surpassed $51.5 million in sales during its annual two-day Scottsdale Auctions held Jan. 16-17 adjacent to Old Town Scottsdale. Of the 126 lots on offer, the company recorded 114 sales for a sell-through rating of 90 percent with an average price per lot of $451,900. By the close of its two-day sale, the company claimed 25 new world auction benchmarks including the sale of a 1962 Ferrari 400 Superamerica Series I Coupe Aerodinamico for $4,070,000 a 1966 Porsche 906 Carrera 6 sold for $1,980,000, plus other record prices from top marques.

A top highlight of Saturday’s auction was a touching charity lot presentation from ultimate car collector and comedian Jay Leno, USO CEO & President J.D. Crouch II, and 36th Chief of Staff of the U.S. Army and USO Board Member General George Casey. Leno’s personal 2008 Dodge Challenger SRT8 generated an astonishing $565,625 in contributions to the USO. The crowd was roaring with excitement as bidders competed for the Challenger. The auctioneer dropped the hammer at $360,000 for the winning bidder, and that contribution was quickly supported by over $200,000 in additional donations from other bidders and auction attendees.

“With nearly a quarter of our lots setting new world auction records and 11 cars selling over $1 million, this year’s Scottsdale Auctions proved to be a very strong sale all around,” said David Gooding, president and founder of Gooding & Company. “We are proud of the 90 percent sales rate achieved as it exemplifies our company’s ability to meet the market’s ever-shifting demands and trends while also maintaining our mission to present the highest quality examples to buyers around the world.”

The following 11 lots reflect the realized prices of lots that sold for more than $1 million:

RM Auctions kick-started the 2015 collector car season Jan. 15-16 in Phoenix by setting records and ultimately generating $63,700,375 in total sales (with 10 percent buyer’s commission included on automotive lots). The auction house further touted a 90 percent sell-through rate of all lots sold at its 16th annual Arizona Biltmore sale. RM Auctions noted its 2015 sale reflected its strongest Arizona performance to date; the sale generated an aerate of $10 million per hour, which it said was an almost 40 percent increase on the company’s 2014 Arizona tally.

The headline sale of RM’s Phoenix sale was the 1964 Ferrari 250 LM, chassis 5899 GT, which sold for $9,625,000 and allowed RM Auctions to declare the feat of selling the most valuable automobile at Arizona this January. The Ferrari has a strong competition record and is Classiche-certified, both of which helped bidding in the room and on the phones until the gavel fell. A video of the sale can be viewed here: (video: http://youtu.be/K2cgxrywgh0).

As in all of Arizona this January, Ferraris reigned supreme at the RM Auctions sale. Eight of RM Auctions’ top 10 sales went to the prancing stallion. Also among the Ferrari highlights was a freshly restored 1966 Ferrari 275 GTS and a low-mileage 1984 288 GTO, each establishing new auction records for their models as they sold for $2,365,000 and $2,750,000 respectively. It wasn’t just top-tier examples that achieved top dollar: prices for Ferraris of all eras were strong, as demonstrated by a 1974 Ferrari 365 GT4 BB, which sold for a record $511,500, and a 2005 Ferrari 575 Superamerica, which soared past high estimate, realizing $517,000.

“We’re thrilled with the results from our Arizona sale. Carefully curated by our specialists, our offering was defined by its quality and uniqueness, with fantastic prices recorded across the board,” says Ian Kelleher, managing director, RM Auctions’ West Coast Division. “The results not only prove that quality sells, but reflect our commitment as a company to deliver the best of the very best. Arizona provided a terrific start to our new collector car auction calendar and we look forward to continuing to raise the bar throughout the 2015 season.”

Reflecting RM’s strength across all segments of the market, additional lots exceeding expectations in Arizona included:

RM Arizona Top 10 Sales:

Lot 250: 1964 Ferrari 250 LM (Chassis 5899 GT) , $9,625,000
Lot 241: 1967 Ferrari 275 GTB/4 (Chassis 10451), $3,657,500
Lot 235: 1973 Ferrari 365 GTB/4 Daytona Spider (Chassis 16793), $3,300,000
Lot 115: 1966 Ferrari 275 GTB (Chassis 08603), $2,750,000
Lot 158: 1984 Ferrari 288 GTO (Chassis ZFFPA16B000055237), $2,750,000
Lot 151: 1966 Ferrari 275 GTS (Chassis 08313), $2,365,000
Lot 119: 1971 Lamborghini Miura SVJ (Chassis 4892), $1,897,500
Lot 136: 1962 Ferrari 250 GT Cabriolet Series II (Chassis 3633 GT), $1,705,000
Lot 143: 1965 Porsche 904 Carrera GTS (Chassis 904-107), $1,650,000
Lot 253: 2005 Ferrari FXX Evoluzione (Chassis ZFFHX62X000145369), $1,622,500

RM Auctions continues its 2015 calendar on Feb. 4 with its highly anticipated return to Paris during the world-famous Retromobile week. The company then returns to Amelia Island, Fla., on March 14 for its established sale during the Amelia Island Concours d’Elegance.

For full results from RM’s Arizona sale and further information on upcoming events, visit www.rmauctions.com.