A busy week of collector car auctions wrapped up in Scottsdale, Arizona on Sunday with some positive signs for the classic car market to start they year.
The combined auctions totaled just shy of $260M (USD) in sales as a result of more offerings coming across the block and subsequently more sales. Sales totals for 2017 were in fact the second highest in the events history, but at the same time average sale price was down from the previous year.
A 1963 Jaguar E-Type Lightweight Competition took top sale price honors at almost $7.4 million dollars. Ferrari dominated the top 10 most expensive cars auctioned at the event which followed on trend for the past few years. The most exclusive and rare cars fared the strongest, bringing the most money with the highest sell-through rates – proving once again that these limited opportunity and special vehicles will always be highly collectible and bring in top dollar.
Just below those top tier offerings (in the $250K – $1M range) prices appear to have softened, although a 1955 Mercedes-Benz 300SL sold for well over estimate ($900K – $1M) at a price of $1.46M. The bottom and most active segment of the market (sub $100K) remained strong with high sell rates. Overall the Scottsdale auctions have started the year off on a fairly positive note for collectors, only time will tell how the market fares in the rest of 2017.
FULL AUCTION RESULTS LINKS:
Bonhams
Gooding & Co
RM Sotheby’s
Barrett Jackson
Russo and Steele
WorldWide Auctioneers
TOP 10 SALES at Scottsdale 2017
1963 JAGUAR E-TYPE LIGHTWEIGHT COMPETITION (Bonhams)
SOLD: $7,370,000
1939 Mercedes-Benz 540 K Special Roadster by Sindelfingen (RM Sotheby’s)
SOLD: $6,600,000
1952 FERRARI 340 AMERICA SPIDER COMPETIZIONE (Bonhams)
SOLD: $6,380,000
1928 MERCEDES-BENZ TYP S 26/120/180 SUPERCHARGED SPORTS TOURER (Bonhams)
SOLD: $4,812,500
1969 Ferrari 365 GTS by Pininfarina (RM Sotheby’s)
SOLD: $3,602,500
1925 Bugatti Type 35 Grand Prix (Gooding & Company)
SOLD: $3,300,000
1995 Ferrari F50 (RM Sotheby’s)
SOLD: $3,135,000
1961 Ferrari 400 Superamerica SWB Coupe Aerodinamico by Pininfarina (RM Sotheby’s)
SOLD: $3,080,000
1965 Ferrari 500 Superfast (Gooding & Company)
SOLD: $2,915,000
1931 ALFA ROMEO 6C 1750 5TH SERIES SUPERCHARGED GRAN SPORT SPIDER (Bonhams)
SOLD: $2,805,000
