Vintage rides of yesteryear will be on block at Barrett-Jackson auction this week

Some 550 collectible and custom automobiles will roll across Barrett-Jackson's auto auction floor this week in Las Vegas, including a 2009 Mosler Coupe owned by North Carolina businessman Jimmy Richardson valued at $450,000.

He's also got a 1997 Vector M12 coupe and a 2005 Ferrari F-430 Berlinetta two-door coupe in the auction.

"They scream Vegas," Richardson said Monday from his home in Hickory, N.C. "Vegas is high energy, bright lights and fast cars."

Las Vegas, the last of four stops on Barrett-Jackson's 40th anniversary auction tour, provides a backdrop unlike any other city, said Craig Jackson, chairman and chief executive officer of Scottsdale, Ariz.-based Barrett-Jackson Auction Co. Other auctions are held in Scottsdale; Orange County, Calif.; and Palm Beach, Fla.

"We have a little bit of everything here and we try to make it a lifestyle event for the entire family," Jackson said about the three-day auction that starts Thursday at Mandalay Bay Events Center. "We do things with the wives of car owners and bidders. We take them to CityCenter, go on shopping tours. We do our events in lifestyle destinations, so the wives are as happy as the husbands."

Richardson, who owns a collection of 31 cars and 15 motorcycles, said now is a good time to buy classic cars. Selling, not so much.

"I'm a seller not because I have to sell cars. I'm turning 63 and I've got a huge car collection and I didn't expect to get to that point when I started collecting cars," he said. "Keeping up 31 cars ... I don't drive them. I'm scared to. They're too nice."

He said a woman ran into the back of his new Ferrari on the first day he drove it. Plus, he runs the risk of rock chips and nicks just being on the road.

Richardson said he's in at a good price on some of the cars he's collected over 30 years, while others he may have bought for more than the current recession-market value. One of his higher-priced rides at $550,000 is a 1969 Camaro called "The Intimidator," a tribute to the late NASCAR champion Dale Earnhardt, that he bought at a past Barrett-Jackson auction. It's not yet for sale, though Richardson said he's taking more cars to the Scottsdale auction in January.

Bryan Frank, a John Deere farm equipment dealer from Scottsbluff, Neb., brought 14 cars and two tractors to the auction, including what he calls "four of a kind" black Camaros from 1967-70. He's also selling a 1969 Camaro SS convertible with a 396 cubic-inch motor.

The '69s are the most valuable Camaros, probably in the range of $80,000 to $100,000, while the others are $40,000 to $60,000, Frank said.

Then there's his 1954 Buick Roadmaster with just 39,000 original miles.

"That's kind of a wild card," Frank said Monday while lining up his cars for display. "Who knows? They're usually $30,000 to $60,000, but if someone falls in love with it -- better yet if two people fall in love with it -- you never know. I do car appraisals back home and they all ask me, 'What's the value of this? What's the value of that?' The auction sets the value, so it just depends."

There's always an oddity in the auction, like the last-minute entry in Palm Beach of a 1974 Ford Pinto in mint condition that went for five times the opening bid, Jackson said.

"There's just no telling what drives people to buy a certain car. Maybe it was their first car. What's the condition? There's the emotion and lifestyle and passion of car collecting," he said.

A Volkswagen bus went for $100,000 in Las Vegas last year, and then another went for $200,000 in Orange County. The buses were once a rarity; now there's one at almost every auction.

The highest-priced car at last year's Las Vegas auction was a Bugatti Veyron that was bid up to $700,000, though the buyer later reneged and was escorted from the auction. Jackson himself ended up buying the Bugatti to make the consigner whole and to protect the auction's integrity.

Las Vegas Events, the marketing arm of the Las Vegas Convention and Visitors Authority, recruited Barrett-Jackson. The auction draws about 50,000 car enthusiasts from the United States and Canada, and has an estimated economic impact of $50 million for the city.

It has become a signature event in Las Vegas, Jackson said. Part of the auction will be broadcast live in high-definition television on the Speed network.

Last year's auction totaled more than $20 million in winning bids, and Jackson said he hopes to beat that number this year. Some of the cars have gone for as low as $2,000, though the "sweet spot" is $45,000 to $50,000, Jackson said.

"You've got a ton of cars in that $20,000 to $40,000 value," he said. "That's really what drives everything. Some people see it as a hedge for where you put your money. It's slowed down, but across the board, it's strong and stable. We've got 50 percent more bidders this year."

The auction offers vehicles for every level of collector.

Frank restored a 1954 John Deere Model 40 for Barrett-Jackson's 40th anniversary. He's also got a 1951 Oliver 70 Row Crop with custom work done in Las Vegas by Unique Movie Cars and another one being rebuilt as a street rod.

Prices were probably a little stronger for collectible cars in the past, said Frank, who's been selling at Barrett-Jackson auctions since 2007.

"Today's market has to be real nice cars. High quality seems to always hold its value," he said.

Las Vegas magician Criss Angel is selling seven cars from his personal collection, including a 2006 Hummer H2, a 2006 Dodge Viper and a 1969 Chevrolet Camaro.

Barrett-Jackson President Steve Davis is putting his 1964 Ford Fairlane 500 up for sale and donating the money to the Armed Forces Foundation.

The fourth annual Barrett-Jackson auction in Las Vegas starts Wednesday with a "cruise in" to Gaudin Ford, 2121 E. Sahara Ave., from 9 a.m. to noon, followed by a 3 p.m. road rally from the Las Vegas Convention Center to Mandalay Events Center.

About 75 car owners are expected to participate in the rally, including members of local car clubs. An invitation-only party takes place that night at Luxor's LAX nightclub.

On-site activities include ride-and-drives by Ford, General Motors and Porsche, and product demonstrations from exhibitors and sponsors.

The admission cost for the show is $15 a day, or $40 for a three-day pass. Registration fee for bidders is $400.

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