Another one of these:
This is actually sunrise and not sunset. I understand why the population of the Phoenix metropolitan area grew from about 1,000,000 in 1970 to more than 4,000,000 in 2010.
My wonderful wife’s parents graciously paid for VIP accommodations at the Barrett-Jackson auction (in addition to first-class airfare). We opted for the Luxury Lounge, which is the middle of the three VIP levels. The lovely Kayla (once again, I don’t know if I have spelled her name correctly) mentioned in this post was a hostess in the Luxury Lounge.
For the three biggest days of the auction (Thursday-Saturday) we had exclusive seating above the arena floor that provided a great view of the event. We were provided breakfast, lunch, dinner, snacks and drinks. We also had reserved seats on the auction floor for those three days, which I made sure I used at least part of the time.
A picture of the gracious and gorgeous “J” with Barrett-Jackson. (If she’s reading this, or even if she’s not, I didn’t take this picture.) She patiently answered all of our questions, some of which were inane, and co-hosted our tour of the auction block. She also made sure we had reserved seats for all four of us even though my wife’s father didn’t register as a bidder until right before the auction.
Oh, you want to see some cars…
This is the 1967 restomod Corvette that was my favorite car at the auction and that I hoped I might have a chance to buy. Uh, I don’t think so…counting the buyer’s commission the car sold for almost $200,000. That’s substantially more than I have been quoted to build a custom restomod from scratch, although of course I wouldn’t have had to wait 18-24 months. I don’t know how much this car cost to build.
I’m going to break my arm patting myself on the back. Ten years ago restomods were sneered at by Corvette purists and did not command much attention or money at auctions. I’ve always thought they were the way to go—if you can accept not having modern safety systems like airbags, ABS and traction control—because they are still safer and more reliable than original cars but retain the classic look. Now, a good restomod will almost always hammer at a higher price than a good original car unless it’s a really rare and important car like an L88.
Anyway, this is all moot to me now because I have decided to buy a late-model C7 Z06. I just don’t want my wonderful wife riding in a car without modern safety features. In addition, I can spend much less than the cost of a custom restomod either as a build or at auction.
Although most of the cars were “modern” and, once again, I think the diversity of offerings is not quite what it could or should be (yes, I know auction houses are at the mercy of consignors and potential buyers), there were a few cars like this:
I was quite smitten with this 1932 Chevrolet Confederate Deluxe Sports Roadster and I’m not sure why. The car hammered at $40,000 meaning the buyer actually paid $44,000. I believe I read that total sales for the recently concluded auction reached $130 million. Given that Barrett-Jackson makes at least 18% on each car (10% from the buyer, 8% from the seller on no reserve cars—10% on reserve lots) that means they grossed over $23 million in commissions at Scottsdale. That also means the average sale price was over $70,000. Be suspicious of averages, though. I would also like to know what the median sale price was. Hey, Barrett-Jackson, I know someone who’s really good at math who would love to work for you part-time or as a consultant!
Anyone have any thoughts they’d like to share?
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