There was much trepidation going into Arizona Auction Week 2020 following the bummer results from the Monterey collector car sales in August, when gross figures were down by nearly a third, and after a disappointing 2019 in general.
the numbers are in (mostly) and the overall results for Arizona’s collector car
extravaganza and its unprecedented 8 auctions has risen to $252 million,
beating last year’s cumulative total of $251.2 million.
The increase from the previous unofficial total of $244.1 million came as 5 of the 8 auction houses released their official results, which often rise with post-block sales and other adjustments.
there were 574 more cars sold this year than last, a 17 percent boost, and one
more auction added to the busy schedule. But still, it’s a victory for the
Arizona auctions, which tend to set the tone for the coming year.
The strength of the market going into the new year, the Arizona results show, is in the broad middle and lower end of the collector car spectrum, with fewer high-dollar cars being offered and many of them failing to reach expectations.
Barrett-Jackson comprised the bulk of the results by sheer volume, with their largest docket ever, more than 1,900 vehicles, sold over a seven-day period. The sell-through rate was 99.9 percent, which is a striking indication of Barrett-Jackson’s customary no-reserve format.
The company reported its highest results ever, with total sales of $141 million for the vehicles, automobilia and 9 charity cars, which reached $7.825 million including the $3 million winning bid for the first mid-engine 2020 Chevy Corvette.
one car at Barrett-Jackson was offered with a minimum reserve price, a
high-value 2015 Porsche 918 Spyder that rolled off the block unsold after
failing to meet the reserve.
Other auctions reporting their final numbers are:
• Gooding & Company, which scored $36.17 million sales and had the highest result of Arizona week, $3.2 million for a 1995 Ferrari F50 coupe.
• RM Sotheby’s, with $30.4 million in sales.
• Russo and Steele, with $10.7 million in sales, an increase from initial reports of $8 million.
• Leake Auctioneers, the newcomer at Arizona Auction Week, which reported sales of $17 million.
While the 3 other auction houses provided releases reporting their dockets of individual sales, none in this group has provided its official total.
The unofficial results from these auctions, compiled by staffers from the Hagerty collector car insurance and valuation company, were reported as:
• Bonhams, with $8.4 million in total sales, down nearly a half from its 2019 auction.
• MAG Auctions, which took over the annual Silver Arizona sales for the first time this year, $1.7 million.
• Worldwide Auctioneers, whose boutique sale of just 98 cars reached $6.1 million.
final official tally could rise as these auction companies release their
official numbers. Overall, however, Arizona Auction Week has provided an upbeat
start to the car collecting year.
Led by the much-anticipated charity sale of the first-production 2020 mid-engine Chevrolet Corvette, Barrett-Jackson scored the highest-grossing collector car auction in its history during the 49th annual Scottsdale sale.
The total was more than $141 million (including auction fees), with $129.7 million from its largest-ever docket of more than 1,900 vehicles, $7.625 million raised through the sale of 9 charity cars, including the Corvette, and $3.7 million for the sale of more than 1,200 pieces of automobilia.
Everything was super-sized for Barrett-Jackson’s signature home-base 2020 auction that continues to dominate Arizona Auction Week, which also hit a record this year with eight collector car auctions taking place. The unofficial cumulative total for those auctions was $244.1 million.
Barrett-Jackson offerings included 180 collector vehicles from a record 9 collections. The most-ever registered bidders competed during a full 7 days of auctioneering. The event had a sell-through rate of 99.9 percent for the overwhelmingly no-reserve auction, with just one vehicle failing to sell.
served as the start of Barrett-Jackson’s yearlong celebration of the “Road to
50,” which ramps up to the Scottsdale auction’s half-century in 2021.
off our ‘Road to 50’ in Scottsdale with our foot planted on the accelerator,” company
chief executive Craig Jackson said in a news release. “Our sponsors,
consignors, bidders and guests made this week’s auction epic.”
Among the special auction features this year was the Paul Walker collection of cars and other vehicles that were owned by the late Fast and Furious actor. Topping these was his group of 1990s BMW M3 coupes, including five of the rare competition lightweights. One of them, a 1995 M3 Lightweight, sold for $385,000, more than double the previous auction record.
million sale of the 2020 Corvette Stingray VIN 001 was one for the books, with
General Motors chairman Mary Barra appearing on the auction stage to help sell
the landmark car, which GM donated for the event. The car was purchased by Rick Hendricks, the
North Carolina mega car dealer and NASCAR team owner who is a regular buyer of
Barrett-Jackson charity offerings.
“Reaction to the mid-engine Corvette was incredible,” Barra said. “It’s both humbling and exciting to harness that success and support the local community through the Detroit Children’s Fund.”
Barrett-Jackson’s second-highest Scottsdale result was also a charity sale and
also a first-production model, a 2021 Lexus LC 500 Inspiration Series
convertible that went for $2 million to benefit the Boys & Girls Clubs of
from Barrett-Jackson charity sales go directly to the chosen beneficiary. The auction company has raised more than $126
million over the years for worthy causes.
“This was absolutely the most phenomenal Scottsdale Auction in Barrett-Jackson’s history,” said Steve Davis, president of Barrett-Jackson. “But what really elevated this Scottsdale Auction to the next level was the wonderful generosity of the many consignors and bidders who opened their hearts to help us raise $7.625 million for charity. What an incredible feeling to know that the collector car community is having such a positive impact on the lives of people across the country who need our help.”
Other charity sales included that of a 1968 Plymouth GTX custom by Chip Foose and owned by TV personality Chris Jacobs, which sold for $300,000 to benefit the C4 Foundation, and a custom 1981 Jeep CJ7 that was sold and re-donated on the block three times for a total of $425,000 raised to benefit the Make-A-Wish Foundation.
guest 13-year-old Make-A-Wish recipient Will Wade fulfilled his wish by
accompanying Craig Jackson on the block and hammering in the final sale of the
Jeep,” Barrett-Jackson noted.
Also selling for charity were a 1997 Chevrolet Monte Carlo Winston Cup NASCAR Race Car that sold for $250,000 to benefit the Arizona Animal Welfare League; a 2020 Chevrolet COPO Camaro John Force Edition that sold for $600,000 to benefit DonorsChoose.org; a custom 1963 Volvo Amazon coupe that sold for $150,000 to benefit the SEMA Memorial Scholarship Fund; 1974 Ford Bronco Custom SUV that sold for $650,000 to benefit the Ryan Blaney Family Foundation; and a 1965 Superformance MKII custom Cobra replica that sold for $200,000, with an addition donation of $50,000, to benefit TGen Foundation.
Barrett-Jackson’s highest-selling non-charity cars were a pair of modern
American exotics, 2017 Ford GTs, one selling for $1.485 million, the other for
$1.182 million. Three of the other cars
on the auction’s top-10 seller list were low-mileage 2005-2006 Ford GTs, two of
which sold for $440,000 and one for $451,000.
Just two vintage collector cars cracked the top-10, a 1969 Chevrolet COPO Camaro ZL1, which achieved $1.095 million, and a 1963 Aston Martin DB5 that went for $660,000.
To see the full list of Barrett-Jackson Scottsdale results, visit the auction website.
Editor’s note: This is the last in a series of daily Arizona Auction Week 2020 sales reports from Hagerty, the collector car insurance and value-tracking company that staffs each auction venue. As soon as the auction companies post their final results, including any post-block sales, we’ll post a final wrap up on the week.
The 2020 Arizona Auction Week — a “week” that actually encompasses 10 days — concluded Sunday with $244.1 million in overall sales. This is a 3 percent decrease from the $251 million figure in 2019 despite an additional 574 cars being sold (a 17 percent increase). There also were 8 auctions in 2020 compared to 7 in 2019.
The takeaway for many is that the dramatic drop witnessed this past summer at the Monterey auctions was not repeated in Arizona, but there are plenty of devils in the details. Most important is vehicle condition. Finely presented and rare cars sold extremely well, but there were relatively few of those in the Arizona auction tents.
Vehicles in #1 and #2 condition (“excellent” and “concours”) represented less than half the offerings — the lowest ratio Hagerty has observed in more than 5 years. Bidders, being more cautious, passed on common vehicles with visible needs unless the price was sufficiently discounted. Sell-through rate was 77 percent (compared to 81 percent in 2019), and the average price slipped to $81,534.
Cars over $1 million at first blush seemed to have an easier time of it in Arizona; sell-through rate increased to 73 percent, from 43 percent in 2019. However, much of the improvement has to do with sellers’ and auction companies’ newfound caution in bringing such high-dollar rides to market. There were 25 percent fewer million-dollar cars on offer compared to last year, and most sold below Hagerty Price Guide values. (For the first time since 2012, no vehicle at the Arizona auctions sold for more than $5 million.)
The challenging environment for the most expensive cars partly has to do with what’s going on in the larger economy — the tide of investment dollars that flowed into this segment following the Great Recession has clearly slowed, and a tax advantage that allowed collectors to roll gains from car sales into other cars has been eliminated.
But as with the rest of the collector car market, condition and provenance matters. Today’s cautious buyers will pay top dollar, but only for the best and rarest cars. Bonhams’ Alfa Romeo 8C 2300, the most expensive unsold car of the week, had a replacement engine, but a Hispano-Suiza J12 at Gooding & Company that hadn’t been sold publicly in recent memory had no trouble beating its high estimate to bring $2.4 million.
Even as parts of the market slide, others shine. SUVs and trucks continue to perform well — 77 percent sold on or above Hagerty Price Guide values, about the same as last year. Barrett-Jackson sold a 1989 Jeep Grand Wagoneer with 8,000 miles for $110,000, which was approximately triple its condition-appropriate value.
There was also plenty of buzz around Dodge Vipers. Early RT/10s in excellent condition brought nearly 40 percent above expected results based — and that’s not including Lee Iacocca’s Viper, which sold for $285,500, a
Ford GTs from 2005-06 also brought strong prices, the best being a 2005 example in a non-standard combination of Midnight Blue with silver stripes for $451,000 at Barrett-Jackson.
And although American muscle cars and resto-mods remain the stars of Scottsdale, modern classics from Europe and Japan also did well. Barrett-Jackson sold a 1990 Toyota Supra Mk III Turbo with less than 100 miles for a record $88,000. The Paul Walker collection offered by Barrett-Jackson contained five 1995 BMW M3 Lightweights, with the lowest-mile example selling for $385,000.
It’s clear we have a collector car market that’s cooled from the highs of the previous decade, especially at the top. Yet for most car collectors — that is, those who buy cars for thousands, rather than millions of dollars — Arizona was business as usual. Barrett-Jackson drew more than 5,600 bidders and enjoyed its highest grossing week ever. Long-term owners are still realizing gains. (In the current market, owners have typically reached break-even after three years of ownership.)
And, as always, the best cars continued to appreciate. But price-sensitive buyers should be aware of the chill that has set in upmarket, as it could creep downward. Knowing what you’re buying and buying for enjoyment are two strategies that are as important today as ever.
Listed below are the raw results witnessed by Hagerty during the live auctions and may not include any post-block sales. Figures reported include the appropriate buyer’s premiums.
Editor’s note: This is the daily Arizona Auction Week 2020 sales report from Hagerty, the collector car insurance and value-tracking company that staffs each auction venue. Saturday was a big day for Arizona Auction Week 2020 with many of the auctions offering their star cars.
As Arizona Auction Week 2020 enters the home stretch, total sales have rallied to fall just 3 percent off year-ago figures. This represents a slightly smaller decline than Hagerty had forecast and a significantly sunnier outlook than the 34 percent drop we saw at the Monterey auctions last August.
With one day of bidding to go, Arizona 2020 sales totaled $236.4 million.
Perhaps the clearest reason for the decrease in sales this year is a decline in the overall quality of the consignments. Vehicles in #1 and 2 condition (“excellent” and “concours”) represented less than half the field — the lowest ratio we have observed in more than 5 years. We’re also seeing more cars with “stories.” For instance, Gooding & Company sold a 1953 Jaguar XK120 roadster for $70,000, or 41 percent below its condition-appropriate value, because it had a later engine and transmission.
Consequently, average sale price is down, from $100,239 in 2019 to $85,357 this year. For million-dollar cars, the average price fell 33 percent, to $1.79 million.
We’re seeing something of a domino effect here: Better cars are being kept off the market while values are soft, which is further driving down average values of what shows up.
Lower prices translated to a notable, 30-percent improvement in the sell-through rate at the top of the market, with 73 percent of million-dollar cars selling. Looking at all lots, sell-through rates dropped slightly, from 80 percent last year to 77 percent this year. Buyers in today’s market can afford to be patient.
That patience seems to run out, however, when exceptional cars and/or rare opportunities present themselves. On Saturday at Gooding, a 1932 Hispano-Suiza J12 Dual Cowl Phaeton brought $2.42 million, beating its high estimate of $2 million. The seven BMW M3s Barrett-Jackson sold from the Paul Walker collection brought $1.7 million — more money than all the M3s sold at public auction in 2019. And the charity auction for the first production 2020 Chevrolet Corvette brought $3.0 million, a record for a new Corvette (proceeds benefitted the Detroit Children’s Fund).
Dodge Vipers in excellent condition, especially early RT/10s, are generating a lot of interest. Sale prices were nearly 50 percent above expected results based on Hagerty Price Guide values, with Barrett-Jackson selling a 1995 RT/10 for $69,300, or 69 percent above expected.
Scottsdale winds down today, but three auction companies — Barrett-Jackson, Russo and Steele, and Leake — still be selling vehicles.
Barrett-Jackson has a rare 1918 Kissel 38 Touring Sedan and a 1949 Studebaker M5 Truck used by the Grateful Dead. Leake is offering a 1978 International Scout II Wagon, which is on the Hagerty Bull Market list for 2020. Russo and Steele will offer a variety of Ford Mustangs and Chevrolet Corvettes.
For 100 percent of the hammer price, Barrett-Jackson Auctions and Chevrolet raised $3,000,000 for The Detroit Children’s Fund here, in today’s auction of the first retail production 2020 Chevrolet Corvette C8 Stingray during the 49th Annual Scottsdale Auction, at WestWorld of Scottsdale.
One of nine charity vehicles, the 2020 Chevrolet Corvette C8 Stingray VIN 001 is powered by a 6.2-liter V8 LT2 engine and comes equipped with the Z51 performance package. Called “the jewel in the center,” the Corvette’s naturally aspirated V8 engine is attached to an 8-speed, dual-clutch transmission capable of 495 horsepower and 470 ft/lbs of torque ‒ the most horsepower and torque for any entry Corvette. This all-new mid-engined Corvette rides on coilover springs and monotube shocks, magnetic ride control and features massive front and rear four-piston Brembo brakes.
The Detroit Children’s Fund offers training, resources and supplies to underfunded public schools in the greater Detroit area. It works to bridge the gaps in funding and expertise, directing resources and best practices that are proven to help schools improve on the whole. In addition, the Detroit Children’s Fund helps schools acquire the technology and training they need to make and monitor progress, as well as provides computers, textbooks and other learning tools essential for student learning.
Many questioned Paul Walker’s choice in his BMW collection, but auction results highlights the foresight of the deceased star.
The BMW M3 Lightweights – of which Walker had a fleet of five – have become prized automobiles. One would wonder if the Fast and Furious franchise star was looking to start a race team with the factory track weapons. All but one features the tri-color checkered M motif graphics package on the left-front and right-rear corners.
Out of twenty-one vehicles crossing the block at the Scottsdale Barrett-Jackson auction this year from Walker’s collection, the highly anticipated 1995 BMW M3 Lightweights crossed the block at a total hammer price of $1,205,000 for all five. Walker’s influence on the collector car industry has become even more evident with these results. These cars didn’t even need Walker’s star-power as they are highly prized, but the emphasis on his foresight was key.
“He (Walker) was a great car guy, I call him the modern-day
Steve McQueen,” Barrett-Jackson CEO Craig Jackson said in an interview prior to
the auction. “He was a pioneer in cars that people didn’t really think were
collector cars when he started buying them.”
Here are the results for each sold from Walker’s collection:
Lot 1371 – 1995 BMW M3 Lightweight: $350,000 Lot 1372 – 1995 BMW M3 Lightweight: $200,000 Lot 1372.1 – 1995 BMW M3 Lightweight: $220,000 Lot 1373 – 1995 BMW M3 Lightweight: $235,000 Lot 1373.1 – 1995 BMW M3 Lightweight (without checkered motif): $200,000
The strong prices paid for the cars are an indication not only of the late actor’s star power, but of the next-generation of car enthusiasts now bidding at collector car auctions.
Editor’s note: This is the daily Arizona Auction Week 2020 sales report from Hagerty, the collector car insurance and value-tracking company that staffs each auction venue.
At this point of Arizona Auction Week 2020, all auction companies have started or completed their sales, and results so far have further revealed polarization in the market. Cars below $25,000 are accelerating regardless of condition, but offerings above $250,000 are proving to be more difficult to find new homes.
Total sales are at $148.9 million, 11 percent behind 2019, and average sale price is down from $82,234 in 2019 to $68,519 this year. That mostly reflects the fall-off at the top of the market: We’ve seen the lowest number of million-dollar cars in Scottsdale since 2013, just 37, as auction companies and sellers worry about softer values for those vehicles.
Cars valued above $1 million struggled for much of 2019 and they continue to seek footing so far this year. These challenges were apparent as RM Sotheby’s fell just shy of selling its 1958 Ferrari 250 GT Series I cabriolet at a high bid of $5.5 million. The sell-through rate at this level, 68 percent, was much improved over a year ago, but the average price of seven-figure cars was down 37 percent and far fewer of these lots were bid to or above expected Hagerty Price Guide values.
A few rarefied cars still managed to score impressive prices, as Gooding & Company’s successful first day included a 1995 Ferrari F50 selling for $3.2 million, and a rare Daytona class-winning 1970 Porsche 914/6 GT that set a record for the model at $995,000. RM Sotheby’s also sold its remarkably original 1937 Mercedes-Benz 540K Hebmüller Coupe for $995,000. Other than these bright spots, the drop off has a lot to do with the fact that the best cars weren’t here.
Concerns at the top of the market haven’t, by and large, trickled down to the rest of the market. Affordable vehicles found strong bids, as 69 percent of vehicles with a #2 condition Hagerty value of less than $15,000 sold at or above their condition appropriate value. One example was a 1975 Chevrolet Corvette sold by Leake for 70 percent above its condition-appropriate expectation. Buyers shopping for vehicles below $50,000 had less of an eye for condition, with driver-quality vehicles selling for more of a premium over vehicles in #1 condition.
Vehicles from the 1980s continue to be a bright spot in the market. Nine out of 11 fourth-generation (1983-96) Chevrolet Corvettes have been bid to or above condition-appropriate values and the same is true for all five Buick Regals — also a standout car a year ago. All five Mercedes-Benz 350/450SLs, however, were bid below condition-appropriate values.
Overall, the sell-through rate of cars from the ’80s is the highest of any post-war decade.
Other notable sales included Gooding’s 411-mile 1974 Volkswagen Karmann Ghia coupe that set a record for the model at $86,800 — almost triple the Hagerty Price Guide value for a #1-condition example. RM Sotheby’s sold a 1979 Porsche 911 Carrera Turbo for $390,000 — more than double the #1 value and the highest amount paid since 2016. Newcomer Leake also sold a 2003 Chevrolet Corvette 50th Anniversary for 11 percent above #1 value, and Barrett-Jackson sold a 2010 Dodge Viper ACR Voodoo Edition #1 for $235,000, a record for the model.
As has been the case all week, trucks and SUVs are still selling strong with 76 percent of them selling at or above Hagerty Price Guide values, and 36 percent higher than cars. In particular, a 1989 Jeep Grand Wagoneer sold Friday at Barrett-Jackson for $110,000, setting an auction record for a Wagoneer by almost $40,000. Russo and Steele also sold the 1977 Dodge Trail Duster Top Hand Prototype 4×4 for an impressive $46,200.
Plenty of sought-after cars have yet to cross the block. Barrett-Jackson will offer five 1995 BMW M3 Lightweights from the Paul Walker collection. And with the premium his collection has been getting at auction, the late actor appears to be poised to become the next Paul Newman of celebrity car collectors. Gooding & Company will offer a 1948 Tucker 48 with an estimate of $1.75 million to $2.25 million. Leake is offering a 1964 Cheetah Prototype Coupe serial number 003. Russo and Steele will offer a 1967 Chevrolet Corvette convertible 427/400 L68 originally ordered by Bill Mitchell. Barrett-Jackson will offer the first retail production mid-engine 2020 Chevrolet Corvette Stingray (VIN 001) for charity with 100 percent of the proceeds benefitting the Detroit Children’s Fund.
The Barrett-Jackson collector car auction company announced Friday that it was adding another celebrity car to an auction docket that reportedly had been filled to the brim.
“Barrett-Jackson… announced today that it will auction the 1963 Modena Spyder California, serial number GTC001… made famous as the number one hero car in the iconic 1980s film Ferris Bueller’s Day Off,” the company said in its news release.
The car will cross the auction block Saturday as Lot 1378. The sale is scheduled to take place during “prime time” television coverage between 5 and 6 p.m. (Mountain time).
“Built by Modena Design & Development, this Spyder is one of three Modenas used for the filming of the iconic movie and will be offered at No Reserve,” the auction house said.
“The cult classic film Ferris Bueller’s Day Off made this Modena an instant classic among collectors and movie fans,” company chairman Craig Jackson was quoted in the announcement. “This was the first of the three Spyders sold to Paramount and when you see it in person, I’m confident it will bring back great memories of this iconic film.”
Barrett-Jackson said the car recently was restored by Neil Glassmoyer, one of the founders of Modena Design.
The car has a carbureted 427cid V8 engine, tan leather interior with GPS speedometer and Retrosound radio with Bluetooth, and a pair of Blaupunkt amplifiers in the trunk to power 14 hidden speakers.
The car’s next owner also receives movie memorabilia, build photos, a 1/24-scale die-cast model and a Hot Wheels version as well as a certificate of authenticity from Modena Design & Development.
Editor’s note: This is the second in a series of daily Arizona Auction Week 2020 sales reports from Hagerty, the collector car insurance and value-tracking company that staffs each auction venue.
Thursday of Arizona Auction Week 2020 saw four more auction companies add to the bidding frenzy. Seven of the eight auction companies have now begun (or finished) their auctions. Bonhams concluded its one-day sale, RM Sotheby’s began its two-day sale, and Leake and Russo and Steele began four days of auctions.
As it stands, sales from all auction companies totaled $69.6 million versus $86.8 million through Thursday of auction week 2019. This amounts to a 20 percent difference, and the $47,890 average price is nearly $12,000 lower.
With most auctions now posting results, sales are beginning to show a pattern of what people are buying and what they aren’t. Million dollar lots continue to be a hard sell in this market, with an initial sell-through rate of 44 percent. Cars failing to meet the reserve on the block included Bonhams’ headline car, a 1932 Alfa Romeo 8C 2300 Cabriolet by Figoni, which was a no-sale at a high-bid of $8.7 million, as well as its in-need-of-restoration Lamborghini Miura, which hammered unsold at $800,000. At RM Sotheby’s, a 1954 Ferrari 250 Europa and a 1965 Ferrari GTB/C failed to meet reserve at high bids of $1.4 million and $1.7 million, respectively.
By contrast, vehicles priced below $25,000 are performing well and are the only price group with a sell-through rate higher than 2019’s, but vehicles at this value also have less of an impact on total sales or Average sale price. Consequently, overall sales are down 20 percent and the average price is down 19 percent. The share of no-reserve lots is down five points to just over 68 percent. However, vehicles have on average been bid 14 percent above condition appropriate Hagerty Price Guide values, a 33 percent slide from last year.
Customs and resto-mods at Barrett-Jackson continue to gain share of the run-list, but average price is nearly unchanged year-over-year at $41,000. The model year of the vehicles being customized continues to get older.
Trucks and SUVs remain shining stars, with 77 percent being sold at or above Hagerty Price Guide values versus 58 percent for cars. This aligns with what Hagerty has seen in insurance quotes for trucks and SUVs over the last year, with bigger growth in activity and a 15 percent increase in median quoted value (compared to just 5 percent for cars). One such stand-out was a good 1977 GMC Jimmy at Barrett-Jackson that sold for an excellent $38,500.
Even in these tough times for top-tier cars, major sales have been completed: A 2018 Pagani Huayra Roadster sold for $2.37 million at RM Sotheby’s and is the high sale of the week so far. Bonhams sold a 1951 Ferrari 212 Inter Cabriolet by Vignale for $1.93 million. Also at Bonhams, a 1992 Dodge Viper RT/10 Roadster, serial-number 001 and formerly owned by Lee Iacocca, became the second most valuable Viper to sell at auction, going for $285,500.
We’ll see more high-profile cars cross the block Friday as RM Sotheby’s concludes its two-day auction, Gooding & Company begins its two-day event, and Russo and Steele, Leake, and Barrett-Jackson get to their feature cars. Highlight lots include a 1958 Ferrari 250 GT Series I cabriolet at RM Sotheby’s, a 1970 Porsche 914/6 GT at Gooding, a 1997 Chevrolet Monte Carlo Winston Cup NASCAR charity lot benefitting the Arizona Animal Welfare League at Barrett-Jackson, a 1967 Shelby GT350 in Lime Green at Leake, and a 1971 Dodge Charger Super Bee ‘Mr. Norms’ at Russo and Steele.
Four of the Paul Walker Collection cars went across the block Thursday at Barrett-Jackson, and got a premium at the hammer, proving that star-power provenance matters. A tuned 2009 Nissan 370Z, a 1989 Nissan R32 Skyline track car, a 1995 Eddie Bauer Edition Ford Explorer and a 1967 Nova custom coupe did far better than similar non-Walker cars offered.
Walker was killed November 30, 2013 with friend Roger Rodas. The two were enjoying a joy ride in Rodas’ Porsche Carerra GT. Rodas lost control of the car in an industrial park in Santa Clarita, California, and hit a light pole. Neither survived after the impact and subsequent fire. Like James Dean before him, Walker attained posthumous Hollywood legend status as the freak accident robbed the world of a talented and kind star.
The 370Z, which appeared in the fifth installment of the Fast and the Furious franchise hammered at $96,000. While not driven by Walker in the film, it was essentially an “extra,” and was later bought by Walker. Certainly Walker’s name attached to a tuner such as this has enough provenance to justify the extra money for a car that can be bought for less than half the hammer price.
The R32 Skyline is easily identifiable with the tuner and drifting crowd. Considering that another Skyline went across the block and sold for $40,000, the $91,000 that the Walker car fetched again proved that provenance ruled the day. The stripped, roll-bar clad track weapon was a fair example and clearly had been minimized without regard to esthetics. One would certainly hope this car finds its way to the track soon, as intended.
Ford Explorers from the 1990s are nice SUVs. Not $61,000 nice though. While in very nice condition, this particular vehicle is rather understated. The story is that Walker drove the car around town near his home in Santa Barbara, California. The new owner must want to feel that Walker wasn’t always drifting through corners with his pants on fire everyday. He still went to the grocery store and doctor appointments and drove his kids around. This car reminds us of that side of the star.
The 1967 Nova was a very nice car. Muscle cars, particularly restomods are doing very well. Walker’s Nova custom was initially powered by an LS1; that engine was removed and replaced with a GM 5.3-liter V8 engine that is mated to an automatic transmission. It sold for a healthy $60,500.
The rest of the Walker Collection, which includes BMW M3 Lightweights and an E30 M3 Evolution, are set to cross the block over the next couple of days.