Inaugural event posts only 36 percent sell-through rate
While the numbers were underwhelming, officials of the new Silver Auctions Arizona were far from disappointed with their inaugural sale, which was staged as sort of a soft launch – though with a lot of hard work – in preparation for future efforts.
Andy Stone, one of the auction company principals, said the improved quality of the cars crossing the block and the updates to the auction facilities were well-received.
Behind the scenes, he said, the auction staff is coming together and work continues on updating the computer system, and that streamlining the processes for consignors and bidders is progressing.
“We’re on target,” he said of a company that staged its first auction just three months after buying the Arizona dates from Mitch Silver.
Stone admitted to “growing pains.”
However, he added, “The word has spread. We had standing room only. A lot of people were coming to test the waters and are coming back in January.”
Silver Auctions Arizona’s next sale takes place during Arizona Auction Week. The dates are January 18-21, 2018, and the company hopes to offer a docket of around 300 vehicles at the Wekopa resort and conference center at Fort McDowell in Fountain Hills, just east of Scottsdale.
The recent sale had a docket of around 200 cars. Only 36 percent sold, with total sales of $1.14 million.
Part of the low sell-through may have been that bidders were used to lower-priced vehicles from previous Silver sales than those crossing the block under the new management.
“We had a great lineup of cars,” Stone said, “best in the history of this auction.”
Top 10 sales, Silver Auctions Arizona, Fall 2017:
- 2016 Bentley Continental GT, $154,000
- 1962 Chevrolet Corvette, $44,820
- 1969 Chevrolet Corvette, $43,000
- 2011 Ford F-150 Raptor, $38,070
- 1958 Chevrolet Bel Air, $37,260
- 1965 Pontiac GTO, $34,560
- 1968 Chevrolet C-10 pickup, $34,500
- 1932 Ford street rod, $31,686
- 1969 Toyota Landcruiser FJ40, $28,000
- 1931 Chevrolet Touring, $25,650
(Prices include buyer’s fee.)1 comment