Scottsdale classic car auctions up 11% on last year's totals

paulfrasercollectibles

2015-06-26 13:36:23

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Scottsdale classic car auctions up 11% on last year's totals

Combined sales for this year's Scottsdale classic car auctions hit $249m

This year's annual Scottsdale auctions resulted in combined sales of $249m with 2,815 lots sold, an increase of 11.1% from last year's total of $224m.

Ferrarifurther demonstrated its unparalleled dominance of the classic car market, taking the top two spots of the week with a 1958 Ferrari 250 GT California LWB Spider and a 1958 Ferrari 250 GT Series 1 Cabriolet.

Ferrari GT California SpiderThe California Spidersold for$8.8m

The Spider proved the highlight of the sale, achieving an impressive figure of $8.8m for RM Auctions on January 17.

A hotly anticipated lot, RM Auctions' managing director Shelby Myers described it prior to the sale as being "amongst the most highly prized of all road-going Ferraris."

A 1997 McLaren F1 GTR Longtail was another highlight, making $5.3m for Gooding & Company.

The HAGI classic car index was up 46.7% at the close of 2013, a growth rate which the company describes as "unsustainable long-term".

Craig Jackson, chairman and CEO of Barrett-Jackson - which sold a 1969 Chevrolet Corvette #57 Rebel L88 Convertible for $2.9m - commented: "The Scottsdale auction had the highest sales in the history of our company - exceeding $113 million. We sold some great cars for charity, attendance exceeded 300,000 and the celebrity turnout was great."

"Scottsdale 2014 witnessed an increase in the value of Americana cars as well as the general strengthening of the value of the cars we sold. We think that this trend will continue throughout 2014."

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