Barrett-Jackson’s Las Vegas Event Reveals Latest Auction Trends
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Classics
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Barrett-Jackson celebrated its 45th
anniversary Vegas-style last week, with record sales totaling $32.5 million: an eight percent increase over 2015 and the company’s most successful event outside of Scottsdale, Ariz. Top selling vehicles included:
- 1969 Boss Mustang that went for $357,000
- 1967 Ford Shelby GT500SE Super Snake that sold for $275,500
- 2008 Dodge Viper SRT 10 Hurst 50th Anniversary going for $220,000
- 2009 Mosler MT900 GTR Twin-Turbo custom prototype selling at $220,000
- 2012 Rolls Royce Silver Ghost Sedan, “Pawn Stars,” that sold for $181,500
This matching-numbers, original, unrestored 1969 Boss 429 features a V8 early-production S-code NASCAR motor with a four-speed manual transmission. (Photos courtesy of Barrett-Jackson)
Why did the top sellers in Las Vegas, the 1969 Boss 429 Mustang and ’67 Ford Shelby GT500SE Super Snake, bring record prices? “There’s a trend right now towards original owner cars,” said Craig Jackson, chief executive at the Barrett-Jackson Auction Company. “The Boss Mustang was an original owner car still with the family.” Although it was not a perfect car with some obvious patina, it was in good mechanical shape and drove well. But its biggest appeal was its history and documentation.
This 1967 Ford Shelby GT500SE Super Snake was produced by Riley Performance Motorcars. The 790-horsepower car is only one of four to date.
How does he perceive the state of the market and where are the best opportunities for new collectors? “Numbers matching real cars are long-term blue chip vehicles,” Jackson told us. “Right now prices for Boss 302s are slightly down so there may be an opportunity there.”
It seems that Jackson has the golden touch. Who else could sell an AMC Pacer for $37,400, even if it did come out of the 1976 feature hit, “Wayne’s World”?
The original 1976 AMC Pacer from “Wayne's World” has a hole drilled in the roof for the famous licorice dispenser, and a purposely mismatched wheel combination.
Building Cars and Character
In the tradition of true car guys, Jackson is not afraid to get his hands dirty, having spent time as a kid at his family’s automotive repair shop. “My brother Brian really ran the shop,” said Jackson. “I started working for him at a very young age. At first I got all of the nasty jobs like cleaning and sandblasting, but it was good character building.” Brian Jackson was an avid racer himself, winning the Winternationals in 1965. It was through him that baby brother Craig forged long-term friendships with Phil Hill, Carroll Shelby, and James Garner.
How does Jackson keep the magic flowing event after event, in an economy still recuperating from the 2008 balloon? “We do a lot of data mining to determine what is in demand,” said Jackson. “I think we have the broadest offering of cars of any of the auctions. It’s like having a managed portfolio with a lot of options.
The “IAD Land Shark” began life as a Mosler Photon prototype, then became a seven-year 20,000-hour research project at Intense Automotive Design (IAD), based in Los Angeles.
Taking the Wayne’s World Pacer out of the equation because it was a celebrity car, AMC vehicles - opens in new window or tab. are bringing more money, according to Jackson. “They were produced in lower numbers and have a small but loyal cult following,” he said. Jackson recommends buyers who are not mechanically inclined consider resto mods - opens in new window or tab., so they can enjoy the look and feel of a classic car with the benefits of a modern drivetrain.
While muscle cars are highly collectible, they require a lot of mechanical upkeep, need to be exercised regularly, and run better on racing fuel than pumped gasoline, all of which add time and expense to the owners. “Buy what you love and understand what you will use the car for,” said Jackson.
Barrett-Jackson’s flagship Scottsdale Auction takes place at WestWorld, beginning January 14.
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