Fewer collection cars were sold during Arizona Car Week than in previous years, but some 2,100 vehicles changed owners and the five auction houses raked in $266.7 million this year.
That total sales value is the second-highest ever, behind only the $307.3 million record from 2016, according to Michigan-based Hagerty Price Guide, which compiles data for the collector-car industry.
Total sales this year surpassed Hagerty’s forecast of $211 million, a sign the firm attributes to a “super-heated” collection car market.
Barrett-Jackson was the top seller of the week, auctioning off 100% of its 1,841 cars for a total of $195.5 million. The auction house also sold the second most expensive car of the week.
The 2023 Chevrolet Corvette Z06 sold for $3.6 million, which broke Barrett-Jackson’s highest-selling charity car record. The funds from the sale will benefit Operation Homefront, a nonprofit based in Texas and Virginia that helps military families.
Total sales at Arizona live auctions benefited from appreciation, evident in a 33% increase in average car price, the share of cars under $50,000 decreasing by 9% and the share of more expensive vehicles, between $50,000 and $250,000, going up by 10%, according to Hagerty.
Sales ranked high even as one of the main auction houses in the state, Russo and Steele, canceled its auction this year. The company’s CEO, Drew Alcazar, said he expects to hold the event in 2023.
Figures include sales recorded by auction houses Barrett-Jackson, RM Sotheby’s, Bonhams, Worldwide Auctioneers and Gooding & Co.
Top sellers at Barrett-Jackson
Barrett-Jackson raised $8.8 million for charity during the company’s 50th anniversary celebration at WestWorld of Scottsdale.
Besides the 2023 Chevrolet Corvette Z06, cars auctioned for charity included:
- A 1968 Ford Mustang Custom Fastback sold for $1 million and will benefit the STARS Foundation.
- A 2022 Toyota Tundra Capstone Hybrid Crewmax Pickup and a 2022 Toyota Tundra TRD Pro Crewmax Pickup were sold for $700,000 and $550,00, respectively, and will benefit the Toyota U.S. Paralympic Fund
- Pitbull’s 2022 Karma GS-6 EV “305 Edition” sold for $500,000 and will benefit Selfless Love Foundation and The SLAM Foundation
- Bret Michaels’ 1973 De Tomaso Pantera sold for $155,000 and will benefit Barrow Neurological Foundation
- Bret Michaels’ 2007 Bentley Continental GT sold for $126,500 and will benefit his Life Rocks Foundation nonprofit
Outside the charity cars:
- A 2004 Porsche Carrera GT Coupe sold for $1,980,000
- A 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,870,000
- A 2015 Porsche 918 Spyder Roadster sold for $1,815,000
Three vehicles featured in the “Fast and Furious” series, including a 1956 Ford Fairlane, a 1949 Chevrolet Fleetline and a 1987 Buick Grand National, were sold for $27,500, $38,500 and $60,500, respectively.
David Spade’s 1968 Chevrolet Chevelle was sold for $374,000.
Top sellers at other auctions
Two out of the three top bids came from RM Sotheby’s and one from Barrett-Jackson. The top sellers were:
- $6,825,000 on a 1955 Mercedes-Benz 300SL Aluminum Gullwing Coupe at RM Sotheby’s.
- $3,700,000 on a 2023 Chevrolet Corvette Z06 Coupe at Barrett-Jackson.
- $3,415,000 on a 1931 Duesenberg Model J Derham Tourster at RM Sotheby’s.
Worldwide Auctioneers also sold two million-dollar reserve cars, one 1929 Duesenberg Model J Derham Sedan for $2,260,000 and one 1935 Delahaye 135MS Competition Drophead Coupe for $1,435,000.
The top sale for Bonhams went to a 1958 AC Ace Roadster, which sold for $516,500.
The highest sale at Gooding & Co. was a 1961 Maserati 5000GT Touring Coupe that went for $924,000.
Reach the reporter at email@example.com or at 480-267-4703. Follow her on Twitter @renataclo.
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