The Batmobile grabbed all of the headlines but the real story of last week’s collector car auctions in Scottsdale was the money. Investors opened their wallets for quality examples and paid top dollar at the six events. Ferraris continued to set the pace in the market with pristine examples bringing huge money and across the board, numbers are way up for the marque.
Overall numbers for the events were 223.8 million dollars in total sales, up from 183 million in 2012. Four of the six auction houses posted double-digit gains over last year’s totals, led by Bonham’s which was up a staggering 55%. Here are the total sales numbers for each of the six sales:
• Barrett-Jackson sold 1336 of 1340 lots offered for a sell through rate of 99.7% and total sales of 103 million, up from 90.5 million (12%) in 2012.
• Gooding & Company sold 101 of 104 lots for a 97% sell through rate and total sales of 52.6 million, up from 39.8 million (24%) in 2012.
• RM Auctions single day sale moved 75 of 85 lots offered for an 89% sell through rate and total sales of 36.4 million, up from 25.7 million (29%) in 2012.
• Bonham’s sold 91 lots of 112 offered for a sell through rate of 81% and total sales of 13.4 million, up from 6 million (55%) in 2012.
• Russo and Steele sold 422 of 710 lots offered for a sell through rate of 59% and total sales of 16 million, down from 19 million (-16%) in 2012.
• Silver Auctions sold 209 of 349 lots for a sell through rate of 60% and total sales of 2.8 million, down from 2.9 million (-3%) in 2012.
Top five sellers for the week were:
1. Gooding & Company 1958 Ferrari 250 GT LWB California Spider which sold for 8.25 million dollars, easily beating the pre-auction estimate of $5,500,000-$7,000,000.
2. RM Auctions 1960 Ferrari 250 GT SWB Berlinetta 'Competizione', coachwork by Scaglietti, which hammered at 7.4 million, a world record for this car at auction.
3. Barrett-Jackson original George Barris owned Batmobile from the 1966-1968 television show, brought an astounding 4.62 million dollars.
4. Gooding & Company 1959 Porsche 718 RSK, coachwork by Wendler sold for $3,135,000, right at the 2.8-3.2 million dollar pre-auction estimate.
5. Gooding & Company 1957 Maserati 150 GT Spider, a one-off factory prototype with coachwork by Fantuzzi realized $3,080,000.
You can see these top five sellers in the slideshow which also includes other significant sales as well as some personal favorites from the 2700 vehicles that were offered for sale last week.
Mecum Auctions has been running since Saturday and all this week in Kissimmee, Florida with over 3000 cars offered. I will have coverage of this mega-event later in the week.