Tag Archives: car auction

Barrett-Jackson

Barrett-Jackson Announces $92 Million In Sales, Record Attendance

Barrett-Jackson Auction Company announced that its 41st annual Arizona auction generated more than $92 million in sales and attracted a record 270,000 attendees at the WestWorld of Scottsdale from January 15 to 22.

The auction, which showcases and sells rare, high-end collectable vehicles, broke several world records last Saturday. It also experienced a 32 percent improvement in sales and a 16 percent improvement in attendance compared to the 2011 auction.

“The excitement over the high-end classics in the 5000 series and the Salon Offering Collection this year is beyond words,” said Craig Jackson, chairman and CEO of Barrett-Jackson, in a press release.

“I’m humbled to say that we had a record number of cars cross the block and were able to revisit our roots by offering some of the purest classics and concepts on the market with extraordinary results,” he added.

The Salon Offering Collection was composed of 31 highly sought-over vehicles that generated the highest bids. The auction’s top selling vehicle was a 1948 Tucker Torpedo, one of only 51 ever made, which sold for $2.915 million — a world record sale for a Tucker.

Another notable sale was a 1954 Mercedes-Benz 300SL Gullwing with only 4,159 original miles, which is the lowest mileage model known to exist. The sale also broke the world record for the highest-selling price for a steel-bodied 300SL Gullwing model.

The auction gave back to local and national charities as well. $5.8 million was raised through the sale of 22 vehicles and donations to the Barrett-Jackson-sponsored ChildHelp Charity that helps victims of child abuse and neglect.

The action also experienced a large growth in newcomers. New-registered bidders made up more than 50 percent of the total bidders, and almost half of the consigners were also new. The first-ever, DIY lifestyle exhibit made more information available to newcomers with its featured how-to on getting your car on the auction block.

For more information about Barrett-Jackson or the World’s Greatest Collector Car Auctions, visit barrett-jackson.com.

Barrett-Jackson - AZ Business Magazine January/February 2012

Barrett-Jackson, Russo And Steele Draw Visitors, Pump Money Into Valley Economy

Economic Engines: Classic car auctions — Barrett-Jackson and Russo and Steele — draw visitors, pump money into Valley economy

If Steppenwolf was performing in the Valley this month, the band might want to tinker with the lyrics to “Born to be Wild.”

“Get your motor runnin,’ head out into Scottsdale, lookin’ for some auctions, and there are plenty coming our way.”

Two of the premiere classic car auctions in the United States call Scottsdale home in January.

The Barrett-Jackson Classic Car Auction takes place from January 16-22 at Westworld of Scottsdale; and car enthusiasts can also hit the Russo and Steele Collector Automobile Auction from January 18-22 at its location near Scottsdale Road and Loop 101.

“The highlights to this year’s auction event would have to be the event site,” says Russo and Steele spokeswoman Stephanie Quinn. “The main structure will have all the auction elements that people have come to know and love, such as staging lanes of up to six lanes of automobiles awaiting their turn on the block, vendors with everything from automobile memorabilia to high fashion, and of course the auction in the round auction block.”

But the auctions aren’t just about showing off cool cars. It’s big business. Despite the sluggish economy in the 2011, Barrett-Jackson beat its 2010 sales figures, generating almost $70 million from the sales of about 1,200 vehicles. Russo and Steele had 2011 sales of more than $21 million.

The auctions are also a boost to the local economy and neighboring businesses as more than 300,000 people are expected to pour into Scottsdale to attend the two events.

Barrett-Jackson will feature 27 vehicles from the Jimmy Richardson Collection, representing a variety of autmobile categories from the past nine decades, but all have one common charasteristic: they are all fast.

“Jimmy Richardson, one of the leading classic automotive collectors in the world, is providing an opportunity to own a unique offering of vehicles from his personal collection,” says Craig Jackson, chairman and CEO, Barrett-Jackson.  “Jimmy will consign all of these vehicles at no reserve which will be a major component that adds excitement.”
Russo and Steele will have some showcase cars as well.

“People can expect some of the finest European sports, American muscle, hot rods and custom automobiles at Russo and Steele,” Quinn says. “We are featuring more that 700 automobiles and have some spectacular automobiles such as the 1965 Shelby Cobra 427 CSX3127 Prototype that changed automotive history by paving the way for the production of all 427 street Cobras; and the ‘Noland Adams’ 1953 Chevrolet Corvette NCRS Duntov Award 99.8 (United States Postal Service) Stamp Car, making its debut on the auction floor for the first time ever.”

Russo and Steele Collector Automobile Auction

When: January 18-22
Where: 18601 N. Scottsdale Rd., Scottsdale
Tickets: russoandsteele.com

Barrett-Jackson Classic Car Auction

When: January 16-22
Where: WestWorld of Scottsdale, 16601 N. Pima Rd., Scottsdale
Tickets: barrett-jackson.com

Arizona Business Magazine January/February 2012