Arizona’s six collector car auctions sold a quarter-billion dollars worth of cars last week including an 80-year-old Mercedes-Benz that went for $9.9 million.
Barrett-Jackson tallied $103 million in sales at its 45th Scottsdale auction, according to classiccars.com based on preliminary figures from Hagerty, an insurance company that tracks sales. Sales at the six auctions last year hit $292.5 million, classiccars.com reported.
The totals for 2,491 cars were $62.8 million for RM Sotheby’s, $43 million for Gooding & Co., $19.5 million at Russo & Steele, $18.2 million at Bonhams and $3.8 million at Silver Auctions, according to Hagerty. The top-selling car was a 1936 Mercedes-Benz 540 K Special Roadster that sold for $9.9 million at RM Sotheby’s auction at the Arizona Biltmore, a new record price for Arizona auctions. RM held the record with a 1964 Ferrari 250 LM that went for $9.6 million last year.
Overall, the average sale price of the collector cars was down 13 percent from 2015.
Other top-selling cars at the other auctions, according to classiccars.com were:
- 2015 Porsche 918 Spyder for $1.76 million at Barrett-Jackson.
- 1950 Ferrari for $6.4 million at Gooding & Co.
- 2015 McLaren P1 for $2.09 million at Bonhams.
Hagerty had staff at each auction tracking the car sales and for those cars that do not meet the minimum or reserve price. The company said 80 percent of the cars offered at the six auctions were sold on the auction block, down from 86 percent in 2015.
