If you’re a car collector or simply love cars, Arizona Auction Week—taking place in Scottsdale in the third week of January—is the place to be. With a half-dozen participating auction houses, it’s the epicenter of the classic-car market. The biggest event with the most diverse offerings come from Barrett-Jackson.
eBay Motors caught up with Barrett-Jackson's chief executive Craig Jackson, ahead of Auction Week, to gain insights into the latest trends in the collector-car market.
Restomods Are In
“We see cars of the 1970s, ‘80s, and ‘90s really increase in value,” said Jackson. “Land yachts from the 1970s such as the Cadillac Biarritz - opens in new window or tab. and early Chevrolet Monte Carlo - opens in new window or tab. are having a rebirth with new high-tech engines.” Jackson explained that when these cars were built, the only way to comply with emissions was to cut horsepower. Now, collectors can buy these cars and put in a modern engine, transmission, better suspension, and tires to produce a vehicle with great power and handling.
Barret-Jackson built a 1987 Monte Carlo Aero Coupe to demonstrate the potential of restomods to the next generation of car collectors. It will be auctioned in Scottsdale to benefit TGen, non-profit genomics research institute.
Trucks and SUVs Have Staying Power
“Trucks and SUVs continue to increase in value,” Jackson continued. Recently, a K5 Blazer - opens in new window or tab. sold at Barrett-Jackson’s Palm Beach auction for $225,000. “A lot of people grew up in rural and suburban America in station wagons or on farms riding in pickup trucks,” he said. “People remember those times and those types of vehicles. That’s why Ford is bringing the Bronco back.” Again, he recommends restomodding older pickups with better engines and suspensions to makes them drive like new cars.
Muscle Cars Still Have Mojo
“Hemi cars are coming back stronger,” Jackson said. “Chrysler made the fewest of all the muscle cars and they’re easily identified.” One of the cars crossing the block at this year’s auction is the last known Hemi ’Cuda produced, guaranteed to bring big numbers.
This 1971 Plymouth Hemi Barracuda is the last known Hemi ‘Cuda to be produced.
“Clones of LS6 Chevelles - opens in new window or tab. are prevalent,” he continued. “We have a team of experts working at each event to help review certain high-end and rare cars that may be represented as having matching numbers - opens in new window or tab. or documented with show provenance.” Jackson explained that the L88 Corvette market weakened because too many people bought them and put them away, creating a glut in the market. “We only chose one L88 to be in the Scottsdale Auction this year, a documented matching-numbers car that is the best of the best,” he said.
1966 Shelby GT prototype VIN #1
Jackson is confident that the Shelbys and Mustangs will continue to be strong performers. Look for three Boss 9s and the first 1966 Shelby, VIN #1 to cross the block in Scottsdale.
Millennials Cherry-Pick Favorites from All Categories
With each generation, there is a new group of cars that people admired when they were growing up. “For Gen Xers or millennials, that might be a Datsun 240Z, Viper, Buick Grand National, or a slope-nose Porsche,” said Jackson. “The bar keeps moving, and we have to move with it.”
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