Scottsdale Auction Week 2017 – Saturday recap

The Arizona auctions continued rolling through Saturday, surpassing last year’s $250M week-long total by $1.1M with a day left to go. The average sale price of $97,853 is 6 percent below 2016’s and well under 2015’s high-water mark of $115,729. Increased volume is counterbalancing some soft sales at the top of the market, underscoring two different storylines.

Mainstream domestic brands were relatively strong, being 30 percent more likely to sell for above-market values than foreign makes. Vintage pickups and SUVs maintained their momentum, as demonstrated by another Dodge Power Wagon selling at Barrett-Jackson (this one a '48) for an eye-watering $99,000 and an excellent 1951 Chevrolet 3100 pickup trading for $44,000.

Meanwhile, the top of the market is sluggish. Despite sell-through rates and average prices for million-dollar cars both improving by more than 10 percent over 2016, half of the cars that comprise Hagerty’s Blue Chip Index earned bids below market value. Cars priced above $250,000 were much slower to sell than more affordable cars—a trend that emerged in 2016—and 42 percent of lots that Hagerty inspected priced above $250,000 earned bids lower than their condition would suggest. Exceptional and fresh-to-market cars continue finding interest, but lesser examples are having a tougher time.

Gooding & Company did well to sell its 1965 Ferrari 500 Superfast for $2.915M, but missed on its alloy long-nose 275 GTB at a $2.5M high bid. Barrett-Jackson notched an outstanding sale at $1.485M for a 1965 Aston Martin DB5 and an impressive $1.32M for the 1960 CERV 1 car, but fell short on a 1970 Plymouth Hemi Cuda convertible at $1.6M. Russo and Steele missed on the 2004 Ford GT prototype with a high bid of $600,000.

Barrett-Jackson, Russo and Steele and Silver Auctions will all wrap up operations on Sunday with another 450 vehicles expected to cross the block.

Following are the raw results witnessed by Hagerty during the live auctions and may not factor in any post-sale deals that have occurred. These numbers include the appropriate buyer’s premiums.

Overall through Saturday from all auction companies:

Cumulative Total: $251.1M
2,566/3,086 lots sold: 83% sell-through rate
Average Sale Price: $97,853

2016 Cumulative Results through Saturday
Cumulative Total: $242.2M
2,330/2,842 lots sold: 82% sell-through rate
Average Sale Price: $104,231

Overall Top 10 Sales from all auctions through Saturday:

  1. 1963 Jaguar E-Type Lightweight Coupe sold for $7,370,000 (Bonhams)
  2. 1939 Mercedes-Benz 540K Special Roadster sold for $6,600,000 (RM Sotheby's)
  3. 1952 Ferrari 340 America Competizione Spider sold for $6,380,000 (Bonhams)
  4. 1928 Mercedes-Benz Type S Sports Tourer sold for $4,812,500 (Bonhams)
  5. 1969 Ferrari 365 GTS Spider sold for $3,602,500 (RM Sotheby's)
  6. 1925 Bugatti Type 35 Grand Prix Roadster sold for $3,300,000 (Gooding & Company)
  7. 1995 Ferrari F50 Coupe sold for $3,135,000 (RM Sotheby's)
  8. 1961 Ferrari 400 Superamerica Coupe sold for $3,080,000 (RM Sotheby's)
  9. 1965 Ferrari 500 Superfast Series I Coupe sold for $2,915,000 (Gooding & Company)
  10. 1931 Alfa Romeo 6C 1750 Gran Sport Spider sold for $2,805,000 (Bonhams)

Individual results by auction company:

BARRETT-JACKSON
Cumulative Total through Saturday: $95.2M
1,558/1,566 lots sold: 99% sell-through rate
Average Sale Price: $61,091

Overall Top 10 Sales:

  1. 1964 Aston Martin DB5 Sedan sold for $1,485,000
  2. 1960 Chevrolet CERV-1 sold for $1,320,000
  3. 1930 Duesenberg Model J Dual Cowl Phaeton sold for $880,000
  4. 2012 Hennessey Venom GT Spyder sold for $800,000*
  5. 2005 Porsche Carrera GT Coupe sold for $616,000
  6. 1965 Shelby GT350 Fastback sold for $445,500
  7. 2011 Ferrari 458 Italia Coupe sold for $434,500
  8. 1970 Chevrolet Chevelle Malibu Sport Coupe sold for $400,000*
  9. 1963 Chevrolet Corvette Z06 (big tank) Split-Window Coupe sold for $385,000
  10. 1969 Ford Mustang Boss 429 SportsRoof sold for $385,000

*Charity Lot

Saturday total: $36.1M
239/247 lots sold: 97% sell-through rate
Average Sale Price: $151,142

Top 10 Saturday Sales:

  1. 1964 Aston Martin DB5 Sedan sold for $1,485,000
  2. 1960 Chevrolet CERV-1 sold for $1,320,000
  3. 1930 Duesenberg Model J Dual Cowl Phaeton sold for $880,000
  4. 2005 Porsche Carrera GT Coupe sold for $616,000
  5. 1965 Shelby GT350 Fastback sold for $445,500
  6. 2011 Ferrari 458 Italia Coupe sold for $434,500
  7. 1970 Chevrolet Chevelle Malibu Sport Coupe sold for $400,000*
  8. 1963 Chevrolet Corvette Z06 (big tank) Split-Window Coupe sold for $385,000
  9. 1969 Ford Mustang Boss 429 SportsRoof sold for $385,000
  10. 1932 Rolls-Royce Phantom II Roadster sold for $341,000

*Charity Lot

2016 Results through Saturday
Cumulative Total: $91.7M
1,346/1,353 lots sold: 99% sell-through rate
Average Sale Price: $72,166

BONHAMS
(Bonhams’ sale ended Thursday)
Thursday total: $36.4M
86/105 lots sold: 82% Sell Through Rate
Average Sale Price: $422,736

Top 10 Sales:

  1. 1963 Jaguar E-Type Lightweight Coupe sold for $7,370,000
  2. 1952 Ferrari 340 America Competizione Spider sold for $6,380,000
  3. 1928 Mercedes-Benz Typ S Sports Tourer sold for $4,812,500
  4. 1931 Alfa Romeo 6C 1750 Gran Sport Spider sold for $2,805,000
  5. 1964 Porsche 904 GTS Coupe sold for $2,310,000
  6. 1966 Ferrari 275 GTB/2 Longnose Coupe sold for $1,732,500
  7. 1960 Ferrari 250 GT SII Cabriolet sold for $1,430,000
  8. 1913 Rolls-Royce Silver Ghost London-Edinburgh Sports Tourer sold for $698,500
  9. 1955 Austin-Healey 100 S Roadster sold for $539,000
  10. 1956 Porsche 356A Speedster sold for $528,000

2016 Results through Thursday
Total: $17.5M
92/112 lots sold: 82%
Average Sale Price: $190,198

GOODING & COMPANY
(GOODING & COMPANY sale ended Saturday)
Cumulative Total through Saturday: $33.3M
105/125 lots sold: 84% sell-through rate
Average Sale Price: $317,492

Overall Top 10 Sales:

  1. 1925 Bugatti Type 35 Grand Prix Roadster sold for $3,300,000
  2. 1965 Ferrari 500 Superfast Series I Coupe sold for $2,915,000
  3. 1932 Alfa Romeo 6C 1750 Grand Sport Roadster sold for $1,595,000
  4. 2011 Ferrari 599 SA Aperta Spider sold for $1,485,000
  5. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,457,500
  6. 1928 Bentley 4 1/2-Liter Open Sports Tourer sold for $1,100,000
  7. 1964 Shelby Cobra 289 R&P Roadster sold for $1,100,000
  8. 1988 Porsche 959 Komfort Coupe sold for $1,089,000
  9. 1961 Mercedes-Benz 300SL Roadster sold for $1,034,000
  10. 1969 American Motors AMX/3 Coupe sold for $891,000

Saturday Total: $16.3M
56/61 lots sold: 92% sell-through rate
Average Sale Price: $307,242

Top Saturday 10 Sales:

  1. 1965 Ferrari 500 Superfast Series I Coupe sold for $2,915,000
  2. 1932 Alfa Romeo 6C 1750 Grand Sport Roadster sold for $1,595,000
  3. 1928 Bentley 4 1/2-Liter Open Sports Tourer sold for $1,100,000
  4. 1961 Mercedes-Benz 300SL Roadster sold for $1,034,000
  5. 1969 American Motors AMX/3 Coupe sold for $891,000
  6. 1935 Auburn 851 Supercharged Speedster sold for $693,000
  7. 2005 Porsche Carrera GT Coupe sold for $621,500
  8. 1967 Aston Martin DB6 Vantage Saloon sold for $478,500
  9. 1920 Stutz Series H Bearcat Roadster sold for $451,000
  10. 1997 Porsche 911 Turbo S Coupe sold for $396,000

2016 Results through Saturday
Total: $43.0M
97/113 lots sold: 86% sell-through rate
Average Sale Price: $443,390

RM SOTHEBY’S
(RM SOTHEBY’S sale ended Friday)
Cumulative Total through Friday: $53.7M
142/159 lots sold: 89% sell-through rate
Average Sale Price: $378,248

Overall Top 10 Sales:

  1. 1939 Mercedes-Benz 540K Special Roadster sold for $6,600,000
  2. 1969 Ferrari 365 GTS Spider sold for $3,602,500
  3. 1995 Ferrari F50 Coupe sold for $3,135,000
  4. 1961 Ferrari 400 Superamerica Coupe sold for $3,080,000
  5. 2003 Ferrari Enzo Coupe sold for $2,695,000
  6. 1967 Ferrari 330 GTS Spider sold for $2,475,000
  7. 1966 Ferrari 275 GTB/2 Coupe sold for $2,117,500
  8. 2013 Bugatti Veyron 16.4 Super Sport 300 Coupe sold for $2,090,000
  9. 1948 Tucker 48 Sedan sold for $1,347,500
  10. 2008 Lamborghini Reventón Coupe sold for $1,320,000

Overall 2016 Results
Total: $62.8M
126/149 lots sold: 85% sell-through rate
Average Sale Price: $497,994

RUSSO AND STEELE
Cumulative Total through Saturday: $18.0M
406/595 lots sold: 68% sell-through rate
Average Sale Price: $44,266

Overall Top 10 Sales:

  1. 1954 Mercedes-Benz 300S Cabriolet sold for $423,500
  2. 1973 Ferrari Dino 246 GTS Spider sold for $379,500
  3. 1969 Ford Mustang Boss 429 SportsRoof sold for $335,500
  4. 2006 Ford GT Coupe sold for $261,250
  5. 2006 Mercedes-Benz SLR McLaren Coupe sold for $253,000
  6. 1969 Ferrari 365 GT Coupe 2+2 sold for $209,000
  7. 1970 Oldsmobile 4-4-2 W-30 Holiday Coupe sold for $165,000
  8. 2011 Ferrari 458 Challenge Coupe sold for $165,000
  9. 1962 Mercedes-Benz 190SL Convertible sold for $154,000
  10. 2013 Ferrari California 2+2 Coupe sold for $151,250

Saturday total: $8.5M
104/180 lots sold: 58% sell through rate
Average Sale Price: $81,350

Top 10 Saturday Sales:

  1. 1954 Mercedes-Benz 300S Cabriolet sold for $423,500
  2. 1973 Ferrari Dino 246 GTS Spider sold for $379,500
  3. 1969 Ford Mustang Boss 429 SportsRoof sold for $335,500
  4. 2006 Ford GT Coupe sold for $261,250
  5. 2006 Mercedes-Benz SLR McLaren Coupe sold for $253,000
  6. 1969 Ferrari 365 GT Coupe 2+2 sold for $209,000
  7. 1970 Oldsmobile 4-4-2 W-30 Holiday Coupe sold for $165,000
  8. 2011 Ferrari 458 Challenge Coupe sold for $165,000
  9. 1962 Mercedes-Benz 190SL Convertible sold for $154,000
  10. 2013 Ferrari California 2+2 Coupe sold for $151,250

2016 Results through Saturday
Cumulative Total: $18.0M
387/602 lots sold: 64% sell-through rate
Average Sale Price: $46,575

SILVER
Cumulative Total through Friday: $3.2M
205/454 lots sold: 45% sell-through rate
Average Sale Price: $15,507

Overall Top 10 Sales:

  1. 2007 Ford Mustang Shelby GT GC sold for $70,200
  2. 1952 Nash-Healey Pininfarina sold for $70,200
  3. 1968 Dodge Hemi Charger sold for $68,580
  4. 1966 Dodge Hemi Coronet sold for $67,500
  5. 1956 Chrysler Windsor sold for $62,640
  6. 1948 Chevrolet Fleetmaster Woody Wagon sold for $62,640
  7. 1941 Buick 51C Convertible Sedan sold for $54,540
  8. 1961 Chevrolet Impala Custom Hardtop sold for $54,000
  9. 2001 Aston Martin DB7 sold for $50,760
  10. 1968 Chevrolet Impala sold for $46,710

Saturday total: $1.4M
75/177 lots sold: 42% sell through rate
Average Sale Price: $18,663

Top 10 Friday Sales:

  1. 1966 Dodge Hemi Coronet sold for $67,500
  2. 1948 Chevrolet Fleetmaster Woody Wagon sold for $62,640
  3. 1941 Buick 51C Convertible Sedan sold for $54,540
  4. 1961 Chevrolet Impala Custom Hardtop sold for $54,000
  5. 1968 Chevrolet Impala sold for $46,710
  6. 1968 Dodge Hemi Dart sold for $45,360
  7. 1955 Chrysler C300 sold for $43,200
  8. 1957 Chevrolet Bel Air sold for $43,200
  9. 1969 Pontiac Firebird Convertible sold for $32,400
  10. 1956 Lincoln Continental Mark II sold for $32,400

Overall 2016 Results
Total: $3.8M
279/513 lots sold: 54%
Average Sale Price: $13,649

WORLDWIDE AUCTIONEERS
(Worldwide Auctioneers’ sale ended Wednesday)
Total: $11.4M
64/82 lots sold: 78% sell-through rate
Average Sale Price: $177,816

Overall Top 10 Sales:

  1. 1967 Chevrolet Corvette 427/430 Convertible sold for $1,980,000
  2. 1955 Lancia Aurelia B24 Spider America sold for $1,100,000
  3. 1966 Shelby GT350 Convertible sold for $742,500
  4. 1965 Shelby GT350 Fastback sold for $379,500
  5. 1962 Aston Martin DB4 Sedan sold for $37,4000
  6. 2005 Ferrari 575 Superamerica Convertible sold for $313,500
  7. 1933 Packard Super Eight-Series Coupe Roadster sold for $308,000
  8. 1955 Porsche 356A Speedster sold for $297,000
  9. 1937 Bentley 4 1/4-Litre Fixed-Head Coupe sold for $286,000
  10. 1953 Porsche 356 Cabriolet sold for $275,000