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Data and Observations from the 2014 Barrett-Jackson Auction in Scottsdale
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Data and Observations from the 2014 Barrett-Jackson Auction in Scottsdale
March 31, 2014
The 43rd annual Barrett-Jackson
Scottsdale auction in 2014 is officially over, and it was quite a show. Over 1,400 vehicles sold and profits soared past $100 million. While the word hasn’t been put out by Barrett-Jackson yet, this auction was likely one for the record books. The event was packed with eager bidders and excited spectators; calling it a “success” would be a massive understatement. Here’s an in-depth look at the results of 2014’s first major auto auction.
Sky High Bids
During the course of this auction, there were several new records set. Here are a few of the many cars that sold for big amounts at Scottsdale:
1967 Chevrolet Corvette L88: This vehicle is one of only 20 ever made -- it’s actually the only red-on-red version produced. The record breaking sale of
this ‘Vette brought in $3.85 million, including the bidder fee. It’s official bid was $3.5 million.
1969 Chevrolet Corvette “The Rebel”: This unique Corvette is one of the most successful road race cars of all time. The Rebel is better known for setting race records that stood for decades, but its most recent achievement is pulling in a $2.86 million selling price.
1988 Ferrari F1 Test Car: Michael Schumacher’s F1 test car gained a lot of attention during the event. One lucky bidder snagged this piece of racing history for a cool $1.7 million.
Cooper Monaco King Cobra: This Carroll Shelby “one and only” sold for $1.65 million during the Scottsdale event.
1957 Ford Thunderbird: An Amos Minter restored Thunderbird didn’t rake in millions of dollars, but this rare car did manage to bring in $330,000 -- one of the higher bids for this class of car. This stunning car is equipped with the E-Series dual 4-bbl carb and is one of only 4% of T-Birds in 1957 to sport a manual transmission.
Vehicles Sold for the Greater Good
Keeping with tradition at Barrett-Jackson, there were quite a few vehicles that sold to benefit charities as well. A combo package WWII era Cessna scout plane and military truck brought in $1 million for the Armed Forces Foundation. The first 2014 COPO Camaro was auctioned off for $700,000 -- all of which went to the Achilles Foundation of Freedom Team of Wounded Veterans.
Rick Hendrick, NASCAR team owner and founder of the
Hendrick Automotive Group, dished out $650,000 so he could own the first new Z/28 Camaro. The proceeds from that sale went to the Cornerstone Schools in Detroit.
The Ford Motor Company auctioned off their first 2015 Mustang GT for charity as well. This car raised $300,000 for the Juvenile Diabetes Research Foundation.
The “Average” Sale
If you want an interesting look at what this auction might mean to the “average” buyer and seller, final data reveals
some interesting figures.
When the top 5% and bottom 5% of car’s sold are excluded, this is what you’ll find:
• The average value of vehicles sold is $57,805.
• Vehicle’s made in the 1950s sold for the highest values, with vehicles made in the 1960s coming in a close second.
• Plymouth models sold for the most, holding an average value of $71,908.
• Black cars were the most valuable cars, on average, with an overall value of $64,832.
• Cars equipped with manual transmissions average a sale price of $62,521. Automatics only averaged $51,156, or 20% less than stick shifts.
Now that this auction is in the books, it’s going to be interesting to watch as future events try to top these numbers, which they inevitably will.
