The auctions in Scottsdale saw over $255M in sales from 2,089 sold listings for an Average Price of $122K. At first glance, these numbers are very similar to last year – but we saw auctions from only 3 companies this year (Barrett-Jackson, Bonhams, and RM Sotheby’s) – while last year there were 5 auctions during this famous car week. Both Gooding and Company and Worldwide Auctioneers sat out of Scottsdale this year.
Given that there were only 3 auctions this year, and we saw the highest Dollar Volume and Total Sales than ever before, the results from Scottsdale show that activity in the collector car market remains strong. However, with Top Sale and Average Price both lower than last year, the high-value listings from the 2 missing auctions were definitely felt in the desert.
Note: In 2020, the Scottsdale auctions took place before the Pandemic started. In 2021, many Scottsdale auctions were postponed until March. For official results, please check each auction website.
With 91% of the Sold Listings and 72% of the Dollar Volume, Barrett-Jackson is obviously the big story in Scottsdale. They created the event years ago, and they still dominate. Nonetheless, both Bonhams and RM Sotheby’s sold more this year in Scottsdale than ever before – pointing to a very strong market across the board.
This year, Barrett-Jackson had a 100% no-reserve auction, and RM and Bonhams both sold over 85% of their listings – bringing the Sell-through Rate for the entire week to 99%. The buyers were on hand and ready to spend!
Top Sale: Bonhams
This 1912 Simplex wasn't only the highest sale at Bonhams' Scottsdale auction, it was the highest sale of the entire month. Owned for over 25 years by Eleonora Sears, America's greatest pre-war sportswoman, this car has passed through many stellar collections over the years, and is sure to bring a smile to many faces for years to come as arguably the greatest survivor of the marque.
Top Sale: RM Sotheby's
This 2014 Ferrari LaFerrari was the highest sale at RM Sotheby's Arizona auction, and the highest sale ever in the Ferrari LaFerrari Coupe Market. This incredible and uniquely specified LaFerrari was ordered new by noted marque enthusiast and collector Greg Whitten in the spectacular combination of Blu Elettrico over Crema leather – in a sea of red, this one is a standout for sure.
Top Sale: Barrett-Jackson
This one-off Nardo Grey 1989 Ferrari F40 took the top spot at Barrett-Jackson, selling for 17% over the CMB. The special color is just one of the many modifications made to this beautiful example – formerly owned by Ferrari collector Michel Oprey. According to Barrett-Jackson, Its final available horsepower output is between 700hp and near 1,000hp. We go to bed easy each night dreaming that someone is having a blast driving this one around the desert.
The sale of this 1962 Chevy Corvette 327 was a jaw-dropping moment of the week. This car sold just 5 months ago in an online auction for $155K, and sold at Barrett-Jackson Scottsdale for 269% over that previous sale. We don't know about you, but we are jealous of that return as we sit here staring at our dwindling 401(k)s.