{"id":285433,"date":"2019-01-23T09:00:54","date_gmt":"2019-01-23T14:00:54","guid":{"rendered":"https:\/\/sportscardigest.com\/?p=285433"},"modified":"2024-12-06T03:49:03","modified_gmt":"2024-12-06T03:49:03","slug":"arizona-auction-week-2019-summary-report","status":"publish","type":"post","link":"https:\/\/www.supercars.net\/blog\/arizona-auction-week-2019-summary-report\/","title":{"rendered":"Arizona Auction Week (2019) &#8211; Summary Report"},"content":{"rendered":"<p>Our friends at Hagerty covered Arizona Auction Week 2019, from Barrett-Jackson, Bonhams, Gooding and Company, RM Sotheby&#8217;s, Russo and Steele, Silver and Worldwide. Their comprehensive summary report follows, offering several insights and perspectives into the overall direction of the collector car market.<\/p>\n<p><strong>Arizona Auction Week 2019 &#8211; Summary Report<\/strong><\/p>\n<ul>\n<li>Total Sales from Seven Auction Companies: $251M (Slight increase from $248M in 2018)<\/li>\n<li>3,294 vehicles were offered, 2,660 sold \u2013 81% sell-through rate (slight decrease from 84% in 2018)<\/li>\n<li>2019 total represents the fourth highest and the 2nd largest offering of vehicles in the history of the AZ Auctions<\/li>\n<li>The market for vehicles below $250,000 saw the most activity and sold for the strongest prices compared to current market values<\/li>\n<li>The top of the market (vehicles above $1M) had a sell-through rate of 48%, compared to 68% in 2018<\/li>\n<\/ul>\n<p>The $251M overall total was essentially level with 2018\u2019s $248M tally, but eight percent shy of Hagerty\u2019s $271M forecast. Sell-through rate fell from 84 percent to 81 percent as the high-end reserve lots were not as popular this year. The enthusiasm for offerings under $250K is apparent from the increases in the average and median sale price, as average sale price improved from $92,952 in 2018 to $94,318 this year and the median sale price increased from $40,700 to $47,300.<\/p>\n<p>Uneven performance at the top of the market weighed down the overall totals. Although million-dollar cars were strong towards the end of 2018, the momentum hasn\u2019t carried over to the new year as seven- and eight-figure lots in Arizona proved to be a tough sell. The sell-through rate at the reserve auctions was only 57 percent, down from 2018\u2019s 66 percent despite having more no-reserve offerings at this price level. Indeed, RM Sotheby\u2019s and Gooding &amp; Company both missed on their catalog cover cars. Bonhams, however bucked this trend by selling their 1951 Maserati A6G\/2000 Frua Spider for $2.755M.<\/p>\n<p>\u201cThe top of the market is demanding perfection,\u201d observed Colin Comer, Hagerty\u2019s Marketplace Editor. \u201cRight now, Blue Chip buyers can afford to make the right decision rather than the fast decision,\u201d continued Comer, \u201cand that puts pressure on the seller.\u201d<\/p>\n<p>Unknown official interpretations of tax law changes and general uncertainty around the economy cast a shadow over the week as well, with many collectors choosing to take a \u201cwait and see\u201d stance. Nonetheless, several major cars traded, with Gooding &amp; Company selling the three biggest: a 1963 Ferrari 250 GT SWB for $7,595,000, a 1958 Ferrari 250 GT TdF at $5,890,000, and a 1953 Ferrari 250 MM Spider that sold for $5,395,000. The top sale from RM Sotheby\u2019s was a 1985 Ferrari 288 GTO that sold for $3,360,000, which is the highest price ever paid for one at a North American auction and 24 percent above the Hagerty Price Guide #1 value. Other notable sales include the 2019 McLaren Senna that was Barrett-Jackson\u2019s highest non-charity lot of the week at $1,457,500.<\/p>\n<p>For lots bid to between $500,000 and $1M, the sell-through rate improved from 56 percent in 2018 to 60 percent this year. However, the sell-through rate for lots bid above $1M plummeted from 68 percent last year to 48 percent in 2019.<\/p>\n<p>The middle of the market \u2013 where most of the industry operates \u2013 was much stronger. Using a single auction house as a lens for this segment, Barrett-Jackson recorded its second-best sale ever at $126M. Indicator cars like 1963-67 Chevrolet Corvettes were stable, while vintage pickups and SUVs accelerated. At this level there are plenty of choices for fun purchases. Not all standout sales were over $1M or from a top-tier marque. A 1956 Ford F-100 pickup was sold by Barrett-Jackson for $88,000, which was 647 percent above Hagerty Price Guide values for the truck. One example of a card-carrying member of 1980s collectible cars \u2013 the Fox-body Mustang (1979-93) sold particularly well; At Barrett-Jackson a 1989 Ford Mustang LX Hatchback with 659 miles sold for $42,900, which is 280 percent above Hagerty Price Guide values for the model.<\/p>\n<p>Another outstanding result was the 2001 BMW 750iL with only 26k miles, which sold for $24,200 at Russo and Steele on Sunday. The price is a record for the pre-Bangle E38 7-series (1994-2001) and supports the trend of growing appreciation for \u2018youngtimer\u2019 classics.<\/p>\n<p>Original unrestored Porsches continue to sell well. An unrestored 1973 Porsche 911 2.4 T Targa in #4 condition sold for $117,600, which is 124 percent over the Hagerty Price Guide #1 value for the model.<\/p>\n<p>All of these story lines considered, the answer to the ever-popular question \u201cHow\u2019s the market?\u201d depends on which market you\u2019re talking about. But even for those cars that may be down, Dave Kinney, publisher of Hagerty Price Guide is quick to point out that \u201cthere is plenty of opportunity for savvy buyers if they stay patient, watch for sound examples, and plan on holding and enjoying the car for a few years.\u201d<\/p>\n<p><strong>Arizona Auction Week 2019 &#8211; Preliminary Final Results<\/strong><\/p>\n<p>Overall through Sunday from all auction companies<br \/>\nCumulative Total: $250.9M<br \/>\n2,660\/3,294 lots sold: 81% sell-through rate<br \/>\nAverage Sale Price: $94,318<\/p>\n<p>2018 Cumulative Results through Sunday<br \/>\nCumulative Total: $247.8M<br \/>\n2666\/3176 lots sold: 84% sell-through rate<br \/>\nAverage Sale Price: $92,952<\/p>\n<p>Overall Top 10 Sales from all auctions through Sunday:<br \/>\n1. 1963 Ferrari 250 GT SWB Coupe sold for $7,595,000 (Gooding &amp; Company)<br \/>\n2. 1958 Ferrari 250 GT TdF Coupe sold for $5,890,000 (Gooding &amp; Company)<br \/>\n3. 1953 Ferrari 250 MM Spider sold for $5,395,000 (Gooding &amp; Company)<br \/>\n4. 1985 Ferrari 288 GTO Coupe sold for $3,360,000 (RM Sotheby&#8217;s)<br \/>\n5. 1951 Maserati A6G 2000 Spider sold for $2,755,000 (Bonhams)<br \/>\n6. 1985 Ferrari 288 GTO Coupe sold for $2,507,500 (Gooding &amp; Company)<br \/>\n7. 2019 Ford GT Heritage Coupe sold for $2,500,000 (Barrett-Jackson)<br \/>\n8. 1958 BMW 507 Roadster sold for $2,175,000 (RM Sotheby&#8217;s)<br \/>\n9. 2020 Toyota Supra Coupe sold for $2,100,000 (Barrett-Jackson)<br \/>\n10. 1967 Ferrari 330 GTS Spider sold for $2,012,500 (RM Sotheby&#8217;s)<\/p>\n<p>Results broken down by Auction Company<\/p>\n<p>BARRETT-JACKSON<br \/>\nCumulative Total through Sunday: $126.4M<br \/>\n1,817\/1,818 lots sold: 99.9% sell-through rate<br \/>\nAverage Sale Price: $69,571<\/p>\n<p>Overall Top 10 Sales:<br \/>\n1. 2019 Ford GT Heritage Coupe sold for $2,500,000*<br \/>\n2. 2020 Toyota Supra Coupe sold for $2,100,000*<br \/>\n3. 2019 McLaren Senna Coupe sold for $1,457,500<br \/>\n4. 2014 Mercedes-Benz G63 AMG Sport Utility Vehicle 4&#215;4 sold for $1,210,000<br \/>\n5. 2020 Ford Mustang Shelby GT500 Coupe sold for $1,100,000*<br \/>\n6. 2012 Lexus LFA Nurburgring Coupe sold for $918,500<br \/>\n7. 2005 Saleen S7 Twin Turbo Coupe sold for $687,500<br \/>\n8. 2016 Chevrolet Corvette Z06 C7.R Edition Coupe sold for $600,000<br \/>\n9. 2006 Ford GT Heritage Coupe sold for $533,500<br \/>\n10. 2015 Ford Mustang Shelby GT350R Coupe sold for $500,000<br \/>\n* Charity car<\/p>\n<p>2018 Cumulative Results<br \/>\nCumulative Total: $112.3M<br \/>\n1709\/1729 lots sold: 99% sell-through rate<br \/>\nAverage Sale Price: $65,692<\/p>\n<p>BONHAMS<br \/>\nCumulative Total through Sunday: $16.1M<br \/>\n108\/120 lots sold: 90% sell-through rate<br \/>\nAverage Sale Price: $149,070<\/p>\n<p>Overall Top 10 Sales:<br \/>\n1. 1951 Maserati A6G 2000 Spider sold for $2,755,000<br \/>\n2. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,110,000<br \/>\n3. 1963 Porsche Carrera 2 GS Cabriolet sold for $1,000,500<br \/>\n4. 1934 Mercedes-Benz 500K Tourer sold for $830,000<br \/>\n5. 1965 Aston Martin DB5 Saloon sold for $610,000<br \/>\n6. 1946 Fiat 1100C Spider sold for $577,000<br \/>\n7. 1970 Mercedes-Benz 280SE 3.5 Cabriolet sold for $362,500<br \/>\n8. 1956 Porsche 356A Speedster sold for $362,500<br \/>\n9. 1937 Jaguar SS100 2.5 Roadster sold for $329,500<br \/>\n10. 1989 Porsche 911 Turbo 930 Cabriolet sold for $229,600<br \/>\n* Charity car<\/p>\n<p>2018 Cumulative Results<br \/>\nCumulative Total: $25.2M<br \/>\n94\/108 lots sold: 87% sell-through rate<br \/>\nAverage Sale Price: $267,649<\/p>\n<p>GOODING &amp; COMPANY<br \/>\nCumulative Total through Sunday: $48.1M<br \/>\n105\/124 lots sold: 85% sell-through rate<br \/>\nAverage Sale Price: $458,458<\/p>\n<p>Overall Top 10 Sales:<br \/>\n1. 1963 Ferrari 250 GT SWB Coupe sold for $7,595,000<br \/>\n2. 1958 Ferrari 250 GT TdF Coupe sold for $5,890,000<br \/>\n3. 1953 Ferrari 250 MM Spider sold for $5,395,000<br \/>\n4. 1985 Ferrari 288 GTO Coupe sold for $2,507,500<br \/>\n5. 1952 Ferrari 212 Europa Coupe sold for $1,930,000<br \/>\n6. 1963 Ferrari 250 GT Lusso Coupe sold for $1,902,500<br \/>\n7. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,435,000<br \/>\n8. 1964 Shelby Cobra 289 R&amp;P Roadster sold for $1,050,000<br \/>\n9. 1957 Mercedes-Benz 300SL Roadster sold for $1,006,000<br \/>\n10. 1965 Shelby Cobra 289 R&amp;P Roadster sold for $912,500<br \/>\n* Charity car<\/p>\n<p>2018 Cumulative Results<br \/>\nCumulative Total: $49.2M<br \/>\n110\/129 lots sold: 85% sell-through rate<br \/>\nAverage Sale Price: $447,415<\/p>\n<p>RM SOTHEBY&#8217;S<br \/>\nCumulative Total through Sunday: $36.8M<br \/>\n129\/154 lots sold: 84% sell-through rate<br \/>\nAverage Sale Price: $285,448<\/p>\n<p>Overall Top 10 Sales:<br \/>\n1. 1985 Ferrari 288 GTO Coupe sold for $3,360,000<br \/>\n2. 1958 BMW 507 Roadster sold for $2,175,000<br \/>\n3. 1967 Ferrari 330 GTS Spider sold for $2,012,500<br \/>\n4. 1948 Tucker 48 Sedan sold for $1,600,000<br \/>\n5. 1956 Bentley S1 Continental Coachbuilt Drophead Coupe sold for $1,077,500<br \/>\n6. 2017 Ferrari F12tdf Coupe sold for $1,006,000<br \/>\n7. 1930 Cadillac Series 452 Fleetwood Sport Phaeton, 5-p. sold for $940,000<br \/>\n8. 2012 Lexus LFA Coupe sold for $885,000<br \/>\n9. 1968 Ferrari 330 GTC Coupe sold for $687,000<br \/>\n10. 1971 Ferrari 365 GTB\/4 Daytona Cut Spyder sold for $670,500<br \/>\n* Charity car<\/p>\n<p>2018 Cumulative Results<br \/>\nCumulative Total: $36.0M<br \/>\n110\/127 lots sold: 87% sell-through rate<br \/>\nAverage Sale Price: $327,641<\/p>\n<p>RUSSO AND STEELE<br \/>\nCumulative Total through Sunday: $11.8M<br \/>\n308\/621 lots sold: 50% sell-through rate<br \/>\nAverage Sale Price: $38,464<\/p>\n<p>Overall Top 10 Sales:<br \/>\n2012 Lexus LFA Coupe sold for $375,000*<br \/>\n1972 Ferrari 365 GTC\/4 Coupe sold for $330,000<br \/>\n2006 Ford GT Coupe sold for $286,000<br \/>\n1967 Dodge Charger Fastback sold for $280,500<br \/>\n1970 Plymouth Cuda Hardtop Coupe sold for $231,000<br \/>\n2002 BMW Z8 Roadster sold for $165,000<br \/>\n1971 Mercedes-Benz 280SL Convertible sold for $152,900<br \/>\n1998 Lamborghini Diablo SV Coupe sold for $148,500<br \/>\n1967 Chevrolet Corvette Convertible sold for $145,750<br \/>\n1964 Porsche 356C Cabriolet sold for $143,000<br \/>\n* Charity car<\/p>\n<p>2018 Cumulative Results<br \/>\nCumulative Total: $15.9M<br \/>\n415\/646 lots sold: 64% sell-through rate<br \/>\nAverage Sale Price: $38,197<\/p>\n<p>SILVER<br \/>\nCumulative Total through Sunday: $2.5M<br \/>\n139\/384 lots sold: 36% sell-through rate<br \/>\nAverage Sale Price: $17,861<\/p>\n<p>Overall Top 10 Sales:<br \/>\n1. 2016 Chevrolet Corvette Z06 Convertible sold for $84,240<br \/>\n2. 1932 Ford Model A Sport Coupe sold for $59,400<br \/>\n3. 1969 Pontiac GTO Coupe sold for $52,920<br \/>\n4. 1955 Chevrolet Bel Air Sedan sold for $51,840<br \/>\n5. 1958 Pontiac Bonneville Hardtop Coupe sold for $49,680<br \/>\n6. 1957 Cadillac Eldorado Seville Hardtop sold for $49,500<br \/>\n7. 1932 Hupmobile Series F-222 Convertible Coupe sold for $49,140<br \/>\n8. 1941 Cadillac Series 62 Fisher Deluxe Convertible Coupe, 2\/4-p. sold for $48,600<br \/>\n9. 1931 REO Royale Model 35 Sedan sold for $45,360<br \/>\n10. 1957 Chevrolet Bel Air Convertible sold for $43,200<br \/>\n* Charity car<\/p>\n<p>2018 Cumulative Results<br \/>\nTotal: $3.2M<br \/>\n178\/355 lots sold: 50% sell-through rate<br \/>\nAverage Sale Price: $17,756<\/p>\n<p>WORLDWIDE<br \/>\nCumulative Total through Thursday: $9.1M<br \/>\n54\/73 lots sold: 74% sell-through rate<br \/>\nAverage Sale Price: $168,260<\/p>\n<p>Overall Top 10 Sales:<br \/>\n1. 1959 Mercedes-Benz 300SL Roadster sold for $990,000<br \/>\n2. 1935 Auburn 851 Supercharged Speedster sold for $687,500<br \/>\n3. 1935 Auburn 851 Supercharged Speedster sold for $632,500<br \/>\n4. 1936 Duesenberg Model JN Rollston Convertible Sedan sold for $605,000<br \/>\n5. 1969 Chevrolet Corvette Coupe sold for $522,500<br \/>\n6. 1931 Duesenberg Model J Judkins Limousine sold for $506,000<br \/>\n7. 1947 Delahaye 135M Cabriolet sold for $357,500<br \/>\n8. 1927 Bentley 3-Litre Sports Tourer sold for $330,000<br \/>\n9. 1932 Auburn 12-160A Custom Speedster sold for $291,500<br \/>\n10. 1966 Jaguar E-Type SI 4.2 Roadster sold for $266,750<br \/>\n* Charity car<\/p>\n<p>2018 Cumulative Results<br \/>\nTotal: $6.1M<br \/>\n50\/82 lots sold: 61% sell-through rate<br \/>\nAverage Sale Price: $122,319<\/p>\n<p>[Source: Hagerty; photo: Jensen Sutta \/ Gooding &amp; Company]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our friends at Hagerty covered Arizona Auction Week 2019, from Barrett-Jackson, Bonhams, Gooding and Company, RM Sotheby&#8217;s, Russo and Steele, Silver and Worldwide. Their comprehensive summary report follows, offering several insights and perspectives into the overall direction of the collector car market. Arizona Auction Week 2019 &#8211; Summary Report Total Sales from Seven Auction Companies: $251M (Slight increase from $248M in 2018) 3,294 vehicles were offered, 2,660 sold \u2013 81% sell-through rate (slight decrease from 84% in 2018) 2019 total [&hellip;]<\/p>\n","protected":false},"author":106,"featured_media":611285,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10112,11577],"tags":[7366,17457],"class_list":["post-285433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-auctions","category-auction-action","tag-auctions","tag-auctions-arizona"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Arizona Auction Week (2019) - Summary Report<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.supercars.net\/blog\/arizona-auction-week-2019-summary-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Arizona Auction Week (2019) - Summary Report\" \/>\n<meta property=\"og:description\" content=\"Our friends at Hagerty covered Arizona Auction Week 2019, from Barrett-Jackson, Bonhams, Gooding and Company, RM Sotheby&#8217;s, Russo and Steele, Silver and Worldwide. Their comprehensive summary report follows, offering several insights and perspectives into the overall direction of the collector car market. Arizona Auction Week 2019 &#8211; Summary Report Total Sales from Seven Auction Companies: $251M (Slight increase from $248M in 2018) 3,294 vehicles were offered, 2,660 sold \u2013 81% sell-through rate (slight decrease from 84% in 2018) 2019 total [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.supercars.net\/blog\/arizona-auction-week-2019-summary-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Supercars.net\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Supercars.net\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-23T14:00:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-06T03:49:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.supercars.net\/blog\/wp-content\/uploads\/2019\/01\/1958-Ferrari-250-GT-Tour-de-France-Berlinetta-1-770x507-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"507\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sports Car Digest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@supercars_net\" \/>\n<meta name=\"twitter:site\" content=\"@supercars_net\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sports Car Digest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.supercars.net\\\/blog\\\/arizona-auction-week-2019-summary-report\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.supercars.net\\\/blog\\\/arizona-auction-week-2019-summary-report\\\/\"},\"author\":{\"name\":\"Sports Car Digest\",\"@id\":\"https:\\\/\\\/www.supercars.net\\\/blog\\\/#\\\/schema\\\/person\\\/188bd99a52d1e69543c54566c30e906b\"},\"headline\":\"Arizona Auction Week (2019) &#8211; 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Their comprehensive summary report follows, offering several insights and perspectives into the overall direction of the collector car market. 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