Celebrities took center stage at the 2017 Arizona auction week, which concluded last weekend. Burt Reynolds, Justin Bieber, Dale Earnhardt Jr., Bubba Watson, Michael Phelps, and Floyd Mayweather were among the famous faces at Barrett-Jackson’s 46th
annual Scottsdale event. And then there were auctions of cars owned by some of the biggest names in the rock and roll.
Tyler donated the proceeds to Janie’s Fund.
The highlights of the week included the auction of the 2012 Hennessey Venom GT Spyder owned by Steven Tyler, Aerosmith’s front man. It commanded $800,000, with all proceeds going to benefit Janie’s Fund, a philanthropic initiative that provides resources to abused girls. Tyler was on hand to hit the gavel when the sale went through.
Tyler’s Venom GT was a relative deal compared to the top sellers, including a ’54 Aston Martin DB5 that went for $1.485 million and General Motors’s CERV 1 concept car - opens in new window or tab. that sold for $1.32 million—a hefty sum although not the $2 million estimate of value we discussed in December. Another striking lightweight aerodynamic 1950s concept car was the 1955 Chrysler Ghia Streamline X, although it did not meet its reserve.
Aerodynamic experiments were popular in the 1950s, as seen in this 1955 Chrysler Ghia Streamline X.
Of the 3,468 vehicles sold in Scottsdale during the week, the priciest was a lightweight Jaguar E-Type that rolled across the block at Bonhams for a cool $7.373 million.
A 1956 Austin Princess formerly owned by rock legend John Lennon sold for $159,500. The Type A135, originally designed to be used as a hearse, was used extensively in the filming of the 1972 documentary film “Imagine.” After the filming, Lennon customized the Princess with two rows of airline seats, complete with ashtray arms. The sale included the car’s original registration signed by John Lennon.
John Lennon's "Imagine" Car
Market Trends
While the rarest cars commanded stratospheric prices, there were plenty of affordable collectibles under the tents as well. Craig Jackson, chief executive of Barrett-Jackson, said that while he hasn’t seen significant shifts in the market over the past year, survivor cars (unrestored vehicles in excellent condition) are gaining in popularity. “They’re continuing to grow in importance and desirability across just about every category in the hobby,” he told us.
McKeel Hagerty, chief executive of Hagerty Insurance, believes modern classics including late-model muscle cars, Japanese classics, and vintage SUVs and pickup trucks as good entry points for new collectors. “Vintage SUVs and pickups echo the shape of vehicles today,” he said. “Ford Broncos have been the real breakout. We’re also seeing lots of interest in Harvester Scouts, Jeep Wagoneers, and Chevrolet C-10s.”
Hagerty agrees with Jackson that the muscle car market is fully recovered and going strong, something he attributes to late-model high performance editions of the pony cars that are creating interest among young buyers.
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