ad-fullscreen
section-ads_high_impact_1

More than $24 million in vehicles sold at Barrett-Jackson auction

More than $24 million in classic and custom vehicles were sold at the Barrett-Jackson auto auction held in Las Vegas last week, the company reported Wednesday.

Topping the sales was a 1964 Ford Fairlane that went for $700,000, followed by the first production 2012 Camaro ZL1 ($250,000); 2009 Mosler Raptor GTR ($240,000); 1971 Plymouth Barracuda ($200,000); and a 1968 Shelby GT500 Convertible ($160,000).

The final tally beat last year’s $20 million in sales, but fell far short of the $29 million spent at the inaugural 2008 auction. Attendance was nearly 60,000, the highest number in the auction’s four-year run in Las Vegas.

A record 580 vehicles were sold at the three-day auction, and the 97 percent sell-through rate was the highest percentage since Barrett-Jackson reinstituted an auction model with both reserve and no-reserve consignments, Barrett-Jackson Chairman Craig Jackson said. That means only 3 percent of winning bids that met the reserve did not go through.

Last year, a bidder reneged on his $700,000 offer on a Bugatti Veyron. Jackson stepped in and purchased the vehicle himself in order to make the consigner whole and to protect the integrity of the auction, he said.

Barrett-Jackson also posted a 25 percent increase in licensed merchandise sales in Las Vegas.

“Results from the Las Vegas auction demonstrate that the collector car market is incredibly strong within all segments of the hobby, despite uncertain global economic climate,” Jackson said.

The Mosler was one of three exotic cars offered by North Carolina business­man Jimmy Richardson. He said the car was valued at $450,000. He also sold a 1997 Vector V12 for $106,700 and a 2005 Ferarri F430 Berlinetta for $121,000, including the buyer’s premium.

The auction raised $1.4 million for charity organizations, including $700,000 from the Fairlane owned by Barrett-Jackson President Steve Davis. He donated proceeds to the Armed Forces Foundation.

A rare K Code model, the custom two-door hardtop Fairlane is powered by a Roush 427-cubic-inch V8 hooked up to a Tremec five-speed transmission. All mechanical work was done by Roush Industries.

The car was sold to well-known Barrett-Jackson buyer Ron Pratte, who donated the car back to the company to be auctioned for charity at the Scottsdale, Ariz., auction in January.

Las Vegas magician Criss Angel put seven cars from his personal collection in the auction, including a 2006 Hummer H2 that fetched $100,000. The Hummer was used on the show “Mindfreak” and was on display for a while inside the Luxor. The front of the vehicle spits out playing cards and has a custom lock and chain guard inspired by Harry Houdini.

The auction attracted a number of celebrities, including actors Josh Duhamel and Tom Arnold, comedian Rich Little, MMA champion Randy Couture, and cast members of the television show “Pawn Stars.” NASCAR team owner Rick Hendrick bought the $250,000 Camaro.

Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.

 

section-ads_high_impact_4
TOP NEWS
ad-315×600
News Headlines
pos-2 — ads_infeed_1
post-4 — ads_infeed_2
Local Spotlight
high_impact_5
Home Front Page Footer Listing
Circular
You May Like

You May Like