SCOTTSDALE CAR WEEK
JANUARY 2023
January 2023
The 2023 auction season kicked off with a bang, starting with Mecum's Kissimmee Florida auction. While Scottsdale Car week was previously thought of as the starting "barometer" of hot cars and pricing, Kissimmee in many respects has taken its place, and this year's results proved to be quite astonishing:
Among the highlights were:
• Record 4,000 vehicles consigned to Mecum Kissimmee 2023
• Record 3,180 vehicles sold at Mecum Kissimmee 2023
• Record attendance of both registered bidders and spectators
• $234 million in sales—the most ever at Mecum Kissimmee
• The first-ever auction to achieve more than $200 million in sales in consecutive years
• A total of 13 vehicles realizing seven-figure sale prices
• $4 million in Road Art sales with 1,255 items offered
• Consignments from 47 states
The auction became
the first ever to exceed $200 million in consecutive years with $234
million in total sales achieved at Mecum Kissimmee 2023, concluding a
12-day run on Sunday, Jan. 15 at Osceola Heritage Park in Kissimmee,
Florida.
On to Scottsdale...
The Scottsdale and Phoenix collector cars sales in Arizona are the second major classic car auctions each year. Several auction houses, including
Barrett-Jackson, Bonhams, Gooding, and RM Sotheby’s participate in this
weeklong event that usually sees well over 3,000 cars on offer.
This weeklong commercial event
currently have all major classic car auctioneers competing (except
Mecum, which usually starts selling at Kissimmee,
Florida, a week or two earlier). RM Auctions, Gooding & Co,
Bonhams, and Barrett Jackson regularly achieve over a million dollars on
select vehicles but many other smaller auctioneers also participate
covering cars in all price classes.
The annual January classic and collectors’ car auctions in Arizona
are generally referred to as Scottsdale, even though many of the sales
are in adjacent Phoenix, Arizona. It is the first major classic car
event of the year for most auction houses and one of the biggest car
sale events on the calendar.
In contrast to many other classic car auction events, the Scottsdale
week has purely commercial origins. The auctions have been an annual
event since the 1970s but the first Arizona Concours d’Elegance was only held in 2014 but cancelled from 2018 as not commercially viable.
The Scottsdale week is big. The combined number of cars on offer at the
various auction houses often exceeds 3,000. Although only a small number
achieves over a million dollars, the Scottsdale auction week is only
second to the Monterey Motor Week in August, where most of the top cars
in the world are sold.
Barrett-Jackson
January 21-29, 2023
Westworld of Scottsdale, Arizona, USA.
The Barrett-Jackson Scottsdale 2023 auction was scheduled for January 21 to 29, 2023, at Westworld of Scottsdale, Arizona, USA.
In 2023, Barrett-Jackson earned $184.2 million from selling 1907 cars and $6.41 million from automobilia. Barrett-Jackson also raised $1.89 million for charity from five cars to surpass the $150 million milestone for funds raised for charity to date.
In 2022,
Barrett-Jackson earned around $195.9 million with a 100% sell-through
rate on 1,841 cars and $7.3 million on 1,153 pieces of automobilia for a
total of over $203.2 million. Additionally, Barrett-Jackson raised $8.8
million on ten charity lots.
In 2021, Barrett-Jackson sold in total, 1,054 vehicles for over $95 million and $5.8 million was raised through the sale of charity vehicles.
The 2020 Scottsdale Auction was
the largest-ever auction held by Barrett-Jackson and its most
successful. Over 1,900 Resto-Mods, classics, and supercars sold for more
than $129.7 million, and over 1,200 pieces of automobilia brought in
well over $3.7 million. The sale of nine charity vehicles – including the first-ever C8 Corvette – raised $7.65 million for great causes.
Barrett-Jackson Top 10 Results:
Cumulative Total: $183.6 million
Average Sale Price: $97,032
Overall Top 10 Sales:
1989 Ferrari F40 Coupe
sold for $2,750,000
2005 Porsche Carrera GT Coupe sold for $1,595,000
2020 Ford GT Carbon Series Coupe
sold for $1,320,000
2019 Ford GT Carbon Series Coupe sold for $1,320,000
1967 Chevrolet Corvette sold for $770,000
1966 Shelby GT350 Fastback sold for $770,000
1969 Chevrolet Camaro ZL1 Sport Coupe sold for $770,000
2012 Lexus LFA Coupe sold for $748,000
2021 Ferrari SF90 sold for $742,500
2019 Lamborghini Aventador sold for $671,000
The top result at the Barrett-Jackson Scottsdale 2023 collector car auction was $2,750,000 paid for a 1989 Ferrari F40.
This was the middle result for the three F40s sold in January 2023 at
various auctions. This early production F40 was a one-off finished in
Nardo Grey and raced in period. The available horsepower output is
between 700 bhp and 1000 bhp depending on the race setup.
The 2005 Porsche Carrera GT achieved $1,595,000
making it by far the most expensive of the four Carrera GTs sold at
auction in January 2023. This red over dark gray car had a fairly low
3,310 miles on the clock.
Two Ford GT Carbon Series cars sold for the same
$1,320,000. The 2020 car finished in Frozen White had 32 miles on the
clock and $35,500 in factory options while the 2019 car was finished in
Shadow Black and had only 10 miles on the clock and $74,750 in factory
options fitted. The only other Ford GT sold thus far in 2023 was at Mecum Kissimmee and fetched just over a million dollar.
Bonhams had a strong start to the classic car auction year when a 1912
Simplex 50hp 5 Passenger Torpedo Tourer, sold for a sensational
$4,845,000, as the most-expensive pre-First World War car ever sold at
public auction and the most expensive car at any of the Scottsdale 2023
auctions. The second highest result was for a 2006 Maserati MC12 Corse
that sold for a model-record $3,811,000. Bonhams sold six cars for over a
million dollar at the Scottsdale 2023 sale.
Bonhams’ US season-opener at Scottsdale realized a total of $30 million,
with 84% sold and 97% by value. Ranging from pre-war to 21st racing
cars, the 125-lot sale for the 11th edition of the Bonhams Arizona
auction was the British auctioneer’s best results in Arizona since 2017.
Cumulative Total: $30.0M
Average Sale Price: $280,821
Overall Top 10 Sales:
1912 Simplex 50HP 5 Passenger sold for $4,845,000
2006 Maserati MC12 Corsa Coupe sold for $3,811,000
1958 BMW 507 Roadster sold for $2,067,500
1965 Ferrari 275 GTS Spider sold for $1,586,250
1953 Siata 208 Coupe sold for $1,572,500
2005 Porsche Carrera GT Coupe sold for $1,033,500
1957 Chrysler Ghia Super Dart 400 Coupe sold for $819,000
1954 Chrysler Ghia GS-1 Coupe sold for $802,500
1962 Dual-Ghia L6.4 Coupe sold for $577,000
2018 Aston Martin Vanquish Zagato Volante Convertible sold for $544,000
RM Sotheby’s had a strong start to the 2023 classic car auction year
with top results at the Arizona sale. The two top results
were for blue Italian supercars. A 2014 Ferrari LaFerrari sold for a
very strong $4,075,000 while a 1971 Lamborghini Miura P400 SV sold for
$3,580,000. The ever-popular 1967 Ferrari 275 GTB/4 achieved $3,360,000.
A particularly notable result was for the most-expensive American car
in the sale: the unique 1969 Chevrolet Corvette Stingray ZL-1
Convertible sold for $3,140,000. Only two of the million-dollar lots
failed to sell during the auction.
The most expensive cars sold at the RM Sotheby’s Arizona classic car
auction performed largely as expected with most selling within or very
close to the pre-sale estimates. Only two top cars failed to sell during
the auction.
A 2014 Ferrari LaFerrari finished in Blu Elettrico
over Crema leather sold for $4,075,000 as the top result in the RM
Sotheby’s Arizona 2023 classic car auction. This LaFerrari was delivered
new to Ferrari super-collector Greg Whitten and had only 3,185 miles on
the odometer. Although this result was just within the presale estimate
of $4,000,000 – $4,500,000, it was still the best LaFerrari auction
result since a LaFerrari sold for $5,170,000 at Mecum Monterey 2016.
The second most expensive car in the RM Sotheby’s Arizona 2023 auction was a 1971 Lamborghini Miura P400 SV by Bertone that
achieved $3,580,000. This Miura was one of 150 SV examples built and
with a color combination of Blu Notte over light gray. It was desirably
equipped with air conditioning and a split-sump lubrication system.
The 1967 Ferrari 275 GTB/4 by Scaglietti was at
$3,360,000 the third-highest result at the RM Sotheby’s Arizona 2023
sale. This largely original and well-preserved example, presented in its
original color combination of silver of black, had only four previous
owners, including a 45-year period of single-family ownership. It was
the 203rd of 330 examples built and is documented with a SEFAC invoice
and correspondence, service/restoration invoices dating back to 1967,
former owner’s correspondence, and history by Marcel Massini.
The most-expensive American car in the RM Sotheby’s Arizona 2023 auction was a 1969 Chevrolet Corvette Stingray ZL-1 Convertible –
the only convertible ZL-1 that sold for $3,140,000. Bloomington Gold
Certified, and one of two factory aluminum 427 ZL-1 Corvettes, this ZL-1
was powered by its factory-correct, date-coded, all-aluminum ZL-1
427-cu. in. V-8 engine and an accurate, award-winning restoration by
Kevin Mackay of Corvette Repair, Inc. The auction was the first time
that the ZL-1 Convertible had ever been offered publicly and the result
was one of only a handful of Corvettes to ever have sold for over $3
million.
