Forget the adage about the third time being the charm, for RM, it was the company’s 15th visit to Phoenix that set the sales record with a whopping $45,563,450 in business during Arizona Auction Week.

And that figure could grow because RM has 30 days after the auction to complete the sale of classic cars that didn’t quite meet the consignors’ reserve prices during the bidding.

“We were on the phones on Monday trying to find homes for all the cars,” said RM car specialist Ian Kelleher.

And how’s this list for some of the leftovers: A 1967 Ferrari 275 GTB/4, a 1961 Chaparral 1 race car, a 1966 Porsche 906 Carrera 6, a 1957 Porsche 356A Reutter Carrera Speedster, a 1953 Siata 208S Spyder, and a 1929 Bentley 4 1/2-litre Vanden Plas Tourer.

Each of those cars was bid to at least $1 million at the Arizona auction, and the owner of the 275 GTB/4 turned down a bid of $2.85 million.

Had just those six cars sold for their high bids, the auction total sales would have been $10 million more than the already record amount.

But even without those sales, the sale’s total was 25 percent better than a year ago, when RM did a one-day, 84-vehicle sale. The $8.8 million price for a 1958 Ferrari 250 GT long-wheelbase California Spider at RM was the most money ever paid for a collector car at any Arizona auction.

“There was a new format with the two days and we think it went quite well,” Kelleher said in an understatement. “Attendance was greater, even on Wednesday when we opened for a ‘soft’ preview. that was pretty encouraging.

As for the auction itself, “There was in excess of a thousand people each night,” Kelleher said.

“There were a lot of familiar faces, but it also looked like [the audience] was getting a bit younger. Each year the younger group steps one step further into the full breathe of the market. It’s not an overnight transition, but I do see it transitioning.”

Kellerher said RM also is encouraged by the fact that “people aren’t attending to see if the market is going to crash. They’re coming to see what they can buy and take home. Nearly half of the people I talked with were new clients and first-time buyers, not speculators. They were end users.”

And he said the newcomers are doing their homework: “They’re taking time to see the cars, calling for more information, asking for documents, doing due diligence, doing all the things you want someone to do to become a long-term client.”

While total sales increased greatly, the average sale price was less than the one-day auction in 2013, but Kelleher said that was expected.

“It’s reflective of the increased number of consignments and some lower-dollar vehicles,” he said. The non-sale (so far) of some of those high-dollar cars also was a factor in the average sales price.

Kelleher added that while exotic post-war European sports cars were particularly strong at the RM, Gooding & Company and Bonhams sales in Arizona, even those from that genre in the sub-$150,000 price range were being snapped up by newcomers from around the globe. Examples sold in that range at RM’s Arizona auction included XK and E-type Jaguars, Porsche 356Bs, Alfas, and Austin-Healey 3000s.

“That’s very encouraging,” Kelleher said. “More people are looking to get in or to stay in the hobby. These are cars people can drive on a more regular basis and enjoy, and cars they can enjoy with their families and on [vintage sports] car tours.”

 

Everybody down to the youngest of gearheads knows about the fourth generation Toyota Supra, primarily because of its many appearances in popular video games as well as the “The Fast and the Furious” film series.

With its basket-handle rear spoiler and powerful twin-turbo inline-six engine, the final Supra model (made from 1993 to 1998) has long been subjected to overwrought sport-compact customization, for better or worse. The Supras that survive intact are likely assured a role as future classics on the world’s auction stages.

But what of the earlier models, the three generations of Supra built from 1979 through 1992? These are also pretty cool sports coupes, all powered by Toyota’s slick and torquey inline-six engine.

The first generation of Supra, now known as the Mark I and produced from 1979 through 1981, is particularly appealing because of its attractively detailed styling, one of the best mainstream production designs from the late 1970s.

Starting off as a slightly longer and upscale version of the Celica sports coupe – stretched to accommodate the inline 6 and named the Celica Supra – the first generation stepped up style and performance to compete with the highly successful 240Z from arch rival Datsun (now Nissan).

Horsepower from the 2.6-liter six seems paltry by today’s standards at 110, raised to 116 in its final production year, but Celica Supra Mark I was lightweight and still enjoys a reputation as a gutsy performer.

The second generation, or Mark II, was also a variation of the Celica. The styling is more streamlined and features the hideaway headlights that were so popular in those days. Toyota boasted that the suspension was tuned by Lotus, and power was raised with a 2.8-liter six producing 145 horsepower, moving up to 161 in its final 1986 model year.

The Mark III continued the styling trend set by the previous version, but it was now based on a new platform, and Celica was dropped from its name. There was also a major boost for the inline six in size and power, moving up to 3.0 liters and 230 horsepower. But the Mark III gained weight, hitting around 3,500 pounds, which somewhat dulled performance.

The exotic Mark IV raised Supra’s profile considerably, particularly with the twin-turbo six that boasted 320 horsepower in standard trim. The final Supra enjoyed a lengthy run from 1992-1998 (with Japanese home-market models continuing through 2002)

Toyota has already set a precedent for the collectability of Japanese sports cars, with the rare 2000GT of the 1960s now commanding prices in the high six figures. It’s the only vintage car series from the Land of the Rising Sun to regularly achieve those lofty results. It has also raised the respectability of its more-humble Asian brethren, including the Supra.

Overlooked amid the excitement about cars selling for millions of dollars at the recent Arizona classic car auctions was the news that you could buy cars at those same sales not for six or even five figures but for as little as $1,100, which is what it cost someone to buy a 1981 cadillac Seville sedan at Barrett-Jackson.

At Russo and Steele, a 1968 Volkswagen Karmann Ghia coupe sold for $1,650. A  1995 Oldsmobile Vista Cruiser station wagon went for $1,674 at the Silver Auction.

O.K., there were no four-figure cars at Bonhams, RM or Gooding & Company, but a 1949 Crosley Hotshot roadster did sell at Bonhams for $13,200, a 1966 NSU Spider went for $24,200 at RM, and a 1960 Triumph TR3 brought $29,700 at Gooding.

Thanks to the fact that Hagerty Insurance stations someone at each auction venue to track every sale, we can share news of the least-expensive vehicles sold at each event. In fact, if you scroll down the page you can see the 10 least-expensive cars sold at each auction… but wait!

Don’t scroll down just yet, because we also asked Hagerty to provide a list of the cars at each auction that sold for an amount closest to the average sale price, and for good measure the company provided median sales figures and vehicles.

The average sales price at the six Arizona auctions was $107,024, great news for consignors and for the auction companies, perhaps not so great news for grassroots classic car collectors and especially for those just trying to get into the hobby.

What might that average price have bought you at the Arizona auctions? Well, a 1966 Lotus Cortina Mk I coupe went for $107,250 at Gooding and a 1970 Oldsmobile 4-4-2 W-30 hardtop coupe went for $106,700 at Barrett-Jackson.

However, average prices are skewed by those multi-million-dollar sales, so it can be instructive and enlightening — and even heartening — to look at median sales prices, the price point that separates the most expensive 50 percent of cars sold from the least expensive 50 percent.

At the Arizona auctions, 2,234 cars were sold. The median price paid was $44,000, which means somewhere around 1,100 cars cost more than $44,000 but the other 1,100 or so cost less than that amount.

For example, while the average price paid at Barrett-Jackson was $78,087, the median transaction was $49,500. Or consider Bonhams, where the average was $272,890 but the median was just $88,000.

To put this in the perspective of sensible sheetmetal instead of dollars and cents, here are some of the cars you could buy for precisely that $44,000 media price:

• a 1964 Chevrolet Impala SS 409 hardtop coupe at Barrett-Jackson,
• a 1958 Oldsmobile Dynamic 88 J-2 hardtop coupe at Russo and Steele,
• a 1966 Ford Bronco at Russo and Steele,
• a 1959 MGA roadster at Gooding,
• a 1978 Maserati Merak SS coupe at RM.

 10 Least-expensive cars sold

figures provided by Hagerty Insurance

OVERALL

1. 1981 Cadillac Seville Sedan sold for $1,100 (Barrett-Jackson)
2. 1968 Volkswagen Karmann Ghia Coupe sold for $1,650 (Russo and Steele)
3. 1995 Oldsmobile Vista Cruiser Station Wagon sold for $1,674 (Silver)
4. 1980 Chevrolet Corvette Coupe sold for $1,925 (Russo and Steele)
5. 1999 Land Rover Discovery SII Sport Utility sold for $2,052 (Silver)
6. 1968 Ford Crew Cab Short Bed Pickup sold for $2,200 (Russo and Steele)
7. 1981 Alfa Romeo GTV-6 Coupe sold for $2,200 (Russo and Steele)
8. 2005 Chrysler Sebring sold for $2,268 (Silver)
9. 1973 Chevrolet Cheyenne Super 20 Pickup sold for $2,376 (Silver)
10. 1995 Volvo 945 Station Wagon sold for $2,376 (Silver)

BY AUCTION

Barrett-Jackson

1. 1981 Cadillac Seville Sedan sold for $1,100
2. 1987 Toyota Custom Convertible Pickup sold for $2,750
3. 1969 Toyota Corona GT Sedan sold for $3,850
4. 1966 Dodge A100 Van sold for $4,290
5. 1957 Cushman Golf Cart sold for $4,290
6. 1982 Toyota Custom Pickup sold for $4,620
7. 1955 Reo M36 C Military 6X6 sold for $5,225
8. 2001 Chevrolet S-10 Custom Pickup sold for $5,500
9. 1977 Chevrolet Monte Carlo Landau Coupe sold for $5,500
10. 1966 Volkswagen Beetle Custom Sedan sold for $5,500

Russo and Steele

1. 1968 Volkswagen Karmann Ghia Coupe sold for $1,650
2. 1980 Chevrolet Corvette Coupe sold for $1,925
3. 1968 Ford Crew Cab Short Bed Pickup sold for $2,200
4. 1981 Alfa Romeo GTV-6 Coupe sold for $2,200
5. 1978 GMC Sierra Grande Short Box Pickup sold for $2,750
6. 1978 Chevrolet C-10 Pickup sold for $2,860
7. 1960 Pontiac Bonneville Hardtop Sedan sold for $3,080
8. 1984 Mercedes-Benz 280SL Convertible sold for $3,520
9. 1991 Jaguar XJS Coupe sold for $3,850
10. 1981 Mercedes-Benz 380SL Convertible sold for $3,850

RM Auctions

1. 1966 NSU Spider sold for $24,200
2. 1957 BMW Isetta 300 Micro Car sold for $30,250
3. 1959 Imperial Southampton Coupe sold for $33,000
4. 1959 Autobianchi Bianchina Transformabile SII Coupe sold for $33,000
5. 1952 Harley-Davidson FL Sport Solo Motorcycle sold for $38,500
6. 1957 BMW Isetta 300 Micro Car sold for $38,500
7. 1978 Maserati Merak SS Coupe sold for $44,000
8. 1962 Rolls-Royce Silver Cloud II Limousine sold for $44,000
9. 1967 Fiat Abarth 1000TC Berlina Corsa sold for $46,750
10. 1950 Hudson Commodore Eight Convertible sold for $46,750

Gooding & Company

1. 1960 Triumph TR3 Roadster sold for $29,700
2. 1955 MG TF 1500 Roadster sold for $34,100
3. 1976 Triumph TR6 Convertible sold for $35,200
4. 1957 BMW Isetta 300 Micro Car sold for $37,400
5. 1941 Cadillac Series 60 Special Sedan sold for $40,700
6. 1957 MGA 1500 Roadster $41,800
7. 1928 Ford Model A Sedan Delivery sold for $41,800
8. 1952 Hudson Wasp Twin H Coupe sold for $41,800
9. 1983 Toyota Land Cruiser FJ40 Sport Utility sold for $41,800
10. 1959 MGA Roadster sold for $44,000

Bonhams

1. 1949 Crosley Hotshot Roadster sold for $13,200
2. 1964 Fiat 2300S Coupe sold for $16,500
3. 1968 Bentley T1 Sedan sold for $17,600
4. 1948 Fiat 500B Topolino Cabriolet sold for $18,700
5. 1951 MG TD Roadster sold for $20,900
6. 1931 Chevrolet Coupe sold for $22,000
7. 1967 Simca 1000 Coupe sold for $24,200
8. 1960 MGA 1600 Roadster sold for $24,200
9. 1960 Austin-Healey Sprite Bugeye Roadster sold for $26,400
10. 1958 Morgan Plus 4 Roadster sold for $30,800

Silver

1. 1995 Oldsmobile Vista Cruiser Station Wagon sold for $1,674
2. 1999 Land Rover Discovery SII Sport Utility sold for $2,052
3. 2005 Chrysler Sebring sold for $2,268
4. 1973 Chevrolet Cheyenne Super 20 Pickup sold for $2,376
5. 1995 Volvo 945 Station Wagon sold for $2,376
6. 1976 Cadillac Seville Sedan sold for $2,376
7. 1974 Mercedes-Benz 450SL Convertible sold for $2,700
8. 1996 Cadillac Seville Sedan sold for $2,808
9. 2002 Chrysler Sebring sold for $3,024
10. 1997 Ford Mustang GT Convertible sold for $3,024

 Cars bracketing average sold price

OVERALL

One up: 1966 Lotus Cortina Mk I Coupe sold for $107,250 (Gooding)

Average = $107,024

One down: 1970 Oldsmobile 4-4-2 W-30 Hardtop Coupe sold for $106,700 (Barrett-Jackson

BY AUCTION

Barrett-Jackson

One up: 1965 Chevrolet Corvette 327/365 Convertible sold for $78,100

Average = $78,087

One down: 1953 Packard Caribbean Convertible sold for $77,000

Russo and Steele

One up: 1970 Ford Mustang Boss 302 Sportsroof Coupe sold for $42,350

Average = $41,824

One down: 1999 Dodge Viper GTS Coupe sold for $41,800

RM Auctions

One up: 1956 Talbot-Lago T14 LS Coupe sold for $423,500

Average = $421,884

One down: 1933 Packard Twelve Coupe Roadster sold for $418,000

Gooding & Company

One up: 1942 Chrysler Windsor Town & Country Barrelback Woody Station Wagon sold for $462,000

Average = $449,650

One down: 1957 Porsche 356A Speedster sold for $445,500

Bonhams

One up: 1932 Marmon V16 Victoria Coupe sold for $275,000

Average = $272,890

One down: 1929 Stutz Model M Monte Carlo Sedan sold for $264,000

Silver

One up: 2001 Chevrolet Corvette Convertible sold for $17,820

Average = $17,414

One down: 1976 Mercedes-Benz 280SL Convertible sold for $17,280

 Cars bracketing median sold price

OVERALL

One up: 1964 Chevrolet Impala SS 409/360 Hardtop Coupe sold for $44,000 (Barrett-Jackson)

Median = $44,000

One down: 1958 Oldsmobile Dynamic 88 J-2 Hardtop Coupe sold for $44,000 (Russo and Steele)

BY AUCTION

Barrett-Jackson

One up: 1966 Ford Mustang GT 289/271 Convertible sold for $49,500

Median = $49,500

One down: 1970 Plymouth Cuda 383/335 Hardtop Coupe sold for $49,500

Russo and Steele

One up: 1971 Chevrolet C10 Stepside Pickup sold for $29,700

Median = $29,700

One down: 1955 Ford Thunderbird Convertible sold for $29,700

RM Auctions

One up: 1970 Mercedes-Benz 280SL Convertible sold for $165,000

Median = $165,000

One down: 1930 Packard Speedster Eight Runabout sold for $165,000

Gooding & Company

One up: 1971 Mercedes-Benz 280SL Convertible sold for $143,000

Median = $143,000

One down: 1968 Porsche 911L Coupe sold for $143,000

Bonhams

One up: 1977 Porsche 911S Coupe sold for $88,000

Median = $88,000

One down: 1968 Ford Mustang Bullitt Fastback Coupe sold for $88,000

Silver

One up: 2002 Ford Thunderbird Convertible sold for $12,960

Median = $12,960

One down: 1993 Chevrolet Corvette Callaway 40^th Anniversary Coupe sold for $12,690

 

 

‘The future, according to Syd Mead, is just “reality ahead of schedule.”

Mead, who worked briefly as a designer at Ford in the very early 1960s, has become famous around the world as the “visual futurist” whose projects include the design of vehicles for science fiction movies such as Blade Runner, Star Trek, Aliens and Tron.

Progressions, a show of 50 of Mead’s illustrations (those shown here provided by CarArt.us), opens August 18 and runs through October 18 at the Rebecca Randall Bryan Art Gallery in Conway, S.C.

Arizona auction week started off the 2014 collector-car calendar with a bang. The six auctions sold 2,312 vehicles for a total of nearly $249 million and an average price of $107,096, all significant gains over 2013 results.

The premium auction houses – RM, Gooding and Bonhams – stepped up with great collections of cars, and the 43rd annual Barrett-Jackson auction in Scottsdale had the highest number of cars and highest total results in its history. Barrett-Jackson was so big, it made the Guinness Book of World Records.

There was even a classy new starting point for auction week, the first-ever Arizona Concours d’Elegance at the Arizona Biltmore Resort.

The Arizona auctions are considered a bellwether for the year ahead, so last week’s huge success bodes well for collector-car sales and values during 2014. As Corky Coker of Coker Tires said during one of the week’s many classic-car seminars: collecting old cars has become less of a hobby and more of an industry.

While there are just about as many stories and lessons learned as there are vehicles on the dockets, here are a few observations from a hectic week:

Rising tide of values goes across the board – There were more than two dozen sales that reached over a million dollars during the week, but prices for more-modest cars and trucks also had strong gains this year.

The $25,000 to $50,000 range shows a healthy market of cars for regular Joes, although the price of entry has sailed upstream, leaving many left behind.

As usual, spending more up front for a well-restored or highly preserved original will pay off in the long run. Restoration costs are through the roof these days and can quickly take the bloom off a bargain purchase price.

“Barn finds” cast magic spell – Preservation verses restoration was a hot topic of conversation, with most savvy collectors heeding the old adage: It’s only original once. A well-preserved car or truck is a thing of beauty, with an air of authenticity and patina that cannot be duplicated.

But there is a flip side to that, as Sports Car Market and American Car Collector publisher Keith Martin observed, “There’s a difference between a preserved car and a nasty old thing.”

And the debate is on after the sales of two rare and valuable “barn finds” at the Gooding auction in Scottsdale. Both results were very surprising, to say the least, because while they were highly desirable cars at the top of the pecking order, neither of them were very appealing. Though original dirt does have its charm.

The first over the block on Friday was a dusty, musty 1956 Mercedes-Benz 300SL Gullwing that shocked with a $1.88 million selling price, including auction fee. That should buy you the very best restored Gullwing (steel body, not alloy) and seemed excessive for this survivor. Indeed, several beautifully restored examples sold for much less during the week.

The other one, a 1967 Ferrari 330 GTS Spider, soared to exceed $2 million, including fee. This car was a crispy critter, the victim of an engine fire and many decades of subsequent storage. It was in no way preserved and deserves an extensive – and no-doubt wildly expensive – restoration. According to the price guides, the Ferrari is already fully priced for one that’s in top condition.

So there you go. Such is the romantic lure of the great “barn find.”

Ferrari prices are on fire – Beyond the lofty price tag of the soot-smudged 330 GTS, the top sale of the week was a mighty $8.8 million, including fee, for a 1958 250 GT LWB California Spider, a record result and the highest-ever sale at an Arizona classic-car auction. All the Ferraris were hitting big numbers, going well into seven figures for anything of any rarity and history.

Dinos are rocking the house, with a 1973 246 GTS hitting a lofty $500k at Gooding. Even such high-production runabouts as the 308 climbed into six figures; a 1976 fiberglass 308 GTB sold for $114,400 at Bonhams.

Likewise Corvettes – Barrett-Jackson, always Nirvana for aficionados of the Chevy sports car, hit the ceiling with the sales of two very rare and special Corvettes: the 1969 race-winning Corvette dubbed The Rebel, which sold for $2.86 million, and an ultra-rare 560-horsepower 1967 L88 coupe that hit the heights at $3.85 million, becoming far and away the highest-priced Corvette ever sold at auction.

But Corvettes across the board were fetching premium prices as well. For example, among the top sales at Russo & Steele in Scottsdale were a 1971 454 SS convertible sold for $250,250 and a 1953 roadster for $225,500.

Many classic-car hobbyists are feeling priced out of the auction scene, and with good reason. There still are some worthwhile deals out there, and many examples of American muscle cars seem underpriced, but by and large, it takes deep pockets to buy anything of value.

For those still able to take part, 2014 should be a golden year for classic-car auctions if nothing bad happens to dampen prices, such as war, pestilence or another economic collapse like the one that killed the market in 2008. We have now fully recovered from that downturn.

 

Score another win for the 1964 Shelby Cobra Daytona Coupe, which has become the first historically significant automobile recorded under the U.S. Secretary of the Interior’s Standards for Heritage Documentation. Like a historic building, the Cobra Daytona and its records are to be preserved in perpetuity.

The first of six Cobra Daytonas built 50 years ago, CSX2287 will have its complete documentation permanently archived in the Library of Congress as part of the Historic Vehicle Association’s National Historic Vehicle Register and Historic American Engineering Record. The HVA and Department of the Interior collaborated in the effort to document the Cobra Daytona, the first in a number of historical vehicles that will be so recognized.

Designed by Peter Brock as an aerodynamic solution to raising the top speed of Carroll Shelby’s Cobra racecars in GT competition, the Cobra Daytona successfully beat Ferrari to win the International Manufacturer’s GT Championship in 1965, making Ford the first American manufacturer to win an international race series.

[pullquote]

Having my Shelby Cobra Daytona Coupe design recognized as the very first car to be included in the permanent archives of the Library of Congress is a great honor and the thrill of a lifetime.”

– Peter Brock[/pullquote]”Having my Shelby Cobra Daytona Coupe design recognized as the very first car to be included in the permanent archives of the Library of Congress is a great honor and the thrill of a lifetime,” Brock said in an HVA press release.

According to the HVA, the Daytona was picked for historic recognition because of “its association with important persons and events; its construction and aerodynamic design; and informational value as one of the few racecars from the period that has not been completely restored.”

The Daytona, part of the permanent collection of the Simeone Foundation Automotive Museum in Philadelphia, is currently being displayed by the HVA at the Washington Auto Show through February 2.

“It has been nearly 120 years since the first automobiles were produced in the U.S.,” said Mark Gessler, president of the Historic Vehicle Association, in the release. “During that time, we have implemented national programs to recognize our historic buildings, airplanes, spacecraft and vessels but not our historic automobiles.

“Through our work, we hope to celebrate the contribution of the industry’s pioneers, the vehicles they produced and the preservation efforts necessary to ensure future generations appreciate the unique roll of the automobile in shaping America.”

HVA and the Department of the Interior are working to document more historic vehicles as well as refining guidelines and procedures for public input. For more information, see www.historicvehicle.org.

 

Mecum’s massive classic-car auction at Osceola Heritage Park in Kissimmee, Fla., continues through Sunday, Jan. 26, with more than 3,000 cars, trucks, motorcycles and what-have-you offered during the nine-day super sale. There were also more than 3,000 pieces of automobilia to be sold.

Highlighted by an enviable collection of Corvettes – including a couple of rare high-performance L88s, a famous ’63 ZO6 race car, a ’67 convertible formerly owned by astronaut Gus Grissom, and the historic 1956 SR prototype known as The Real McCoy – Mecum cranks into the weekend with a vast range of vehicles to fit most any wallet. Mecum has a grading system for values at its auctions, ranging from general to featured to stars to main attractions.

Some other top dogs of the Mecum auction include a 1965 Shelby 427 Cobra factory race car valued in the $2 million range, 1969 Mustang Boss 429, 1969 Yenko Camaro, 1973 Porsche 911 RS and a 1971 Plymouth Hemi Cuda. For fans of true classics, there’s a lavishly restored 1930 Duesenberg Model J Torpedo Berline convertible, formerly part of the Harrah and Imperial Palace collections, as well as the notable collection of the late John O’Quinn. Value estimate for the Duesey runs from $1.5 million to $2 million.

After the rising tide of classic-car values shown during the recent Arizona auction week, Mecum can most likely look forward to a strong finale for its flagship Florida sale.

If you can’t make it to sunny Florida, you can catch the action during nearly 50 hours of broadcasts on NBC and the Esquire cable channel. Check the listings for times or see Mecum.com for more information and a complete auction catalogue.