7 October 2011

Barrett-Jackson Las Vegas auction recap

The engine roars and squealing tires that emanated from Mandalay Bay last month have subsided, and Barrett-Jackson has announced more than $24 million in sales, including buyer’s premium, during its fourth annual Las Vegas auction. Of that total, nearly $1.4 million was courtesy of lots that were sold for local and national charitable organizations.

The sale, which saw 97% of 580 automotive lots sell, bested the 2009 and 2010 efforts by about $1 million. Barrett-Jackson’s first Las Vegas sale in 2008 tallied $29 million.

Top honors went to Barrett-Jackson President Steve Davis’ 1964 Ford Fairlane 500 hardtop coupe. The heavily modified car sold for $700,000, with proceeds benefiting the Armed Forces Foundation. Another charity car, the first 2012 Chevy Camaro ZL1 offered to the public, grabbed $250,000 for the YMCA of Southern Nevada.

The top-selling non-charity car was the lightning-fast Mosler Raptor GTR prototype that sold for $264,000. Magician Criss Angel consigned seven custom cars from his collection, with six selling for a total of $404,800.

The three-day event drew 60,000 attendees, which was the largest crowd the company has attracted to its Las Vegas sale. The high attendance and strong sale total underscores the relative if tenuous strength of the collector car market.

This event closed out a successful 2011 for Barrett-Jackson, which will now focus all of its energy on its flagship sale in Scottsdale, January 16-22.

Brian Rabold is the editor of Hagerty Price Guide.

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