(Editor’s note: Hagerty Automotive Intelligence provides daily updates from selected major American collector car auction venues, including Arizona Auction Week. The following is first of that week.)
- Bonhams concluded its single-day auction with a 91 percent sell-through rate and $11.3 million in total sales, which was 34 percent higher than in 2020 with 18 percent fewer lots.
- RM Sotheby’s offered less than half as many lots as 2020 but managed a 91 percent sell-through rate and a 36 percent increase in total sales at $41.1 million.
- Worldwide’s sale concluded on Wednesday with a 91 percent sell-through rate and nearly $10 million in total sales, which is an increase of 61 percent from 2020.
- Barrett-Jackson has sold nearly 1000 vehicles (of their planned 1,900) with $46.5 million in total sales, and they are ahead of their 2020 Thursday total by nearly 23 percent.
- Blue-chip collector cars with great provenance continue to be sought after. RM Sotheby’s set an auction record for a Mercedes-Benz 300SL when it sold lot 159, a 1955 Aluminum Gullwing, for $6,825,000.
- Analog supercars continue to be hot:
- Two at Bonhams sold for more than the Hagerty Price Guide condition #1 value and their auction high estimates (a 1989 Lamborghini Countach and a 1995 Ferrari F355).
- RM Sotheby’s sold a 2005 Porsche Carrera GT and 1987 Porsche 959 above their condition #1 values (and high estimates), too.
- The 1988 Cizeta-Moroder V16T Prototype sold for $1,363,500 at RM Sotheby’s. This sale also included an NFT, however, which distracts from the appeal of this exotic.
- Bonhams sold the 1949 Buick Roadmaster convertible featured in the movie Rain Man for $335,000, which is in-line with the typical movie car premium of 5x.
- For more auction coverage, head over to insider.hagerty.com
Thursday was the first big day of the 2022 Arizona auctions. Although Barrett-Jackson started on Monday and Worldwide concluded its auction Wednesday, Thursday saw Bonhams and RM Sotheby’s complete their single-day auctions, and Barrett-Jackson kept on trucking for its third auction day.
Through Thursday, Cumulative total sales add up to $108.7 million and a 98 percent sell-through rate. This time in 2020, the last “normal” year for the Scottsdale auctions, total sales added up to $66.6 million and a 97 percent sell-through rate. The Average sale price is up, too, from $54,928 in 2020 to $91,113 in 2022.
The past two years have seen big changes in the auction world and, like every corner of the collector car market, Scottsdale looks a bit different this year. RM Sotheby’s and Bonhams both offered fewer vehicles and fewer “big” 7-figure cars compared to 2020. Both auctions improved total sales and average prices by focusing attention on the vehicles consigned while shifting volume sales to their new(ish) online platforms.
Meanwhile, in the first three days of the week Bring a Trailer, the leading online auction platform, sold $13.5 million worth of vehicles alone, and that didn’t take any auctioneers or fancy tents. PCarMarket, which held a “Virtual Scottsdale Auction” this week, reported $2.6 million in total sales, with cars sold earning an average premium of 17 percent over their Hagerty Price Guide condition appropriate values. Big auction houses are certainly taking note.
The big car of the night (and likely the whole week) was the 1955 Mercedes-Benz 300SL Alloy Gullwing which sold for $6,825,000, or 3 percent less than its price guide condition appropriate amount. While the 300SL is often found at auctions (nine were consigned in January alone and two of those were online), this Gullwing was both a rare Alloy car and fresh to market, and it set an auction record for the model. Blue-chip cars out of long-term ownership continue to do best at auction.
While Scottsdale glistens as the collector car capital, Mecum’s Las Vegas motorcycle auction has been producing exceptional results for the motorcycle world. On Thursday, Mecum sold nearly $3 million of pre-war Harley-Davidsons from the Harley-Davidson Heritage Collection. Other notable sales are a 1979 Honda XR500 for $25,300, more than double the condition #1 Hagerty Price Guide value, and a 1964 Harley-Davidson FLH Duo-Glide selling for $51,700, $21k over the condition #1 value.
The top sale for a prewar car belongs to the 1929 Duesenberg Model J Derham Sedan, which Worldwide sold for $2,260,000. A striking design, it previously sold for $742,000 in 2018. Pre-War cars have performed well this year with 43 percent selling above high estimates, a vast improvement over Scottsdale 2020’s 10 percent.
Friday will see Gooding & Company’s Geared Online auction conclude and Barrett-Jackson move into its prime-time Friday offerings. Look for the charity lots of the 2022 Ford Mustang Shelby GT500KR First Production car and two 2022 Toyota Tundras to bring big bids.
Arizona Auction Week
(Results through January 27, 2022)
Listed below are the raw results witnessed by Hagerty during the live auctions and may not factor in any post-sale deals that have occurred. These numbers include the appropriate buyer’s premiums.
We are comparing results to 2020 because that was the most recent year all auctions were in January and in Arizona.
Cumulative total: $108.7M
1,193/1,214 lots sold: 98 percent sell-through rate
Average sale price: $91,113
2020 cumulative results through Thursday
Cumulative total: $66.6M
1212/1254 lots sold: 97 percent sell-through rate
Average sale price: $54,928
Overall top 10 sales
- 1955 Mercedes-Benz 300SL Aluminum Gullwing Coupe sold for $6,825,000 (RM Sotheby’s)
- 1931 Duesenberg Model J Derham Tourster sold for $3,415,000 (RM Sotheby’s)
- 1963 Mercedes-Benz 300SL Roadster sold for $2,315,000 (RM Sotheby’s)
- 1929 Duesenberg Model J Derham Sedan, 5-pass. sold for $2,260,000 (Worldwide Auctioneers)
- 1967 Ferrari 330 GTS Spider sold for $1,957,500 (RM Sotheby’s)
- 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,710,000 (RM Sotheby’s)
- 1987 Porsche 959 Komfort Coupe sold for $1,600,000 (RM Sotheby’s)
- 2015 Porsche 918 Spyder Roadster sold for $1,600,000 (RM Sotheby’s)
- 2005 Porsche Carrera GT Coupe sold for $1,545,000 (RM Sotheby’s)
- 1935 Delahaye 135MS Competition Drophead Coupe sold for $1,435,000 (Worldwide Auctioneers)
Results by auction company
Cumulative total through Thursday: $46.5M
976/976 lots sold: 100percent sell-through rate
Average sale price: $47,636
Overall top 10 sales:
- 2021 Ford Bronco First Edition Sport Utility Vehicle 4×4 sold for $500,000*
- 1965 Shelby Cobra 427 S/C Roadster sold for $280,000*
- 1964 Ford GT40 Replica Coupe sold for $225,500
- 1939 Lincoln Zephyr Customized Pickup sold for $187,000
- 1995 Porsche 911 Carrera Cabriolet sold for $165,000
- 1972 GMC K1500 1/2 Ton Pickup sold for $165,000
- 1967 Ford Custom Customized Wagon 4×4 sold for $161,700
- 2021 Jeep Wrangler Customized Sport Utility Vehicle sold for $150,700
- 1958 GMC Series 100 Customized Suburban Carryall 4×4 sold for $143,000
- 1965 Backdraft RT3 Customized Roadster sold for $143,000
- Charity car
- 2020 results through Thursday
1018/1018 lots sold: 100 percent sell-through rate
Average sale price: $37,035
Cumulative total through Thursday: $41.1M
64/70 lots sold: 91 percent sell-through rate
Average sale price: $642,555
Overall top 10 sales:
- 1955 Mercedes-Benz 300SL Aluminum Gullwing Coupe sold for $6,825,000
- 1931 Duesenberg Model J Derham Tourster sold for $3,415,000
- 1963 Mercedes-Benz 300SL Roadster sold for $2,315,000
- 1967 Ferrari 330 GTS Spider sold for $1,957,500
- 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,710,000
- 2015 Porsche 918 Spyder Roadster sold for $1,600,000
- 1987 Porsche 959 Komfort Coupe sold for $1,600,000
- 2005 Porsche Carrera GT Coupe sold for $1,545,000
- 1988 Cizeta-Moroder V16T Prototype Coupe sold for $1,363,500
- 1994 Porsche 911 Carrera Turbo S Flachbau Coupe sold for $1,325,000
2020 results through Thursday
Cumulative total: $14.4M
64/73 lots sold: 88 percent sell-through rate
Average sale price: $224,605
Cumulative total through Thursday: $11.3M
81/89 lots sold: 91 percent sell-through rate
Average sale price: $139,916
Overall top 10 sales:
- 1958 AC Ace Bristol Roadster sold for $516,500
- 1953 Mercedes-Benz 300S Roadster sold for $472,500
- 1997 Porsche 911 Turbo S Coupe sold for $467,000
- 1989 Lamborghini Countach Coupe sold for $445,000
- 1962 Aston Martin DB4 Vantage Sedan sold for $381,750
- 1962 Aston Martin DB4 Vantage Sedan sold for $379,000
- 1949 Buick Roadmaster Model 76C Convertible sold for $335,000
- 1992 Ferrari F40 Coupe sold for $296,500
- 1967 Porsche 911 S Targa sold for $288,250
- 1954 Porsche 356 1500 Coupe sold for $257,600
2020 results through Thursday
Cumulative total: $8.4M
88/108 lots sold: 82percent sell-through rate
Average sale price: $95,872
Cumulative total through Thursday: $9.7M
72/79 lots sold: 91 percent sell-through rate
Average sale price: $135,391
Overall top 10 sales:
- 1929 Duesenberg Model J Derham Sedan, 5-pass. sold for $2,260,000
- 1935 Delahaye 135MS Competition Drophead Coupe sold for $1,435,000
- 1932 Chrysler Imperial Convertible Sedan sold for $940,000
- 1970 Dodge Challenger R/T Hardtop Coupe sold for $329,500
- 1991 Lamborghini Diablo Coupe sold for $302,000
- 1937 Packard Twelve-Series 1507 Coupe sold for $280,000
- 1983 Ferrari 512 BBi Coupe sold for $263,200
- 1961 Chevrolet Impala Customized Station Wagon, 6-pass. sold for $252,000
- 1937 Cord 812 Supercharged Convertible Phaeton Sedan sold for $235,200
- 1967 Shelby GT350 Fastback sold for $207,200
2020 cumulative results
42/55 lots sold: 76 percent sell-through rate
Average sale price: $144,263