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Collector Car Sales Exceed $29 Million at Inaugural Barrett-Jackson Event

October 22, 2008 by  




Economic uncertainty was nowhere to be found inside the Mandalay Bay Events Center as over $29 million (including Buyer’s Premium) in collector cars were sold during the inaugural Barrett-Jackson Collector Car Event in Las Vegas Oct. 16-18, 2008.  Bidders worldwide competed for over 500 vehicles that sold at No Reserve, including a 1949 MG TC that was Carroll Shelby’s first road race car, Funkmaster Flex’s custom 2006 Ford Mustang GT, a 2003 Saleen S7 and a 1954 Rolls-Royce Silver Dawn Custom. Over 50,000 people attended the automotive auction and lifestyle event, which was broadcast live in high-definition on SPEED.

Carroll Shelby's first road race car, a 1949 MG TC, sold for $313,500

Carroll Shelby's first road race car, a 1949 MG TC, sold for $313,500

“We’re thrilled with the outcome of our first Las Vegas event on many levels,” said Craig Jackson, Chairman/CEO of Barrett-Jackson. “Las Vegas and Mandalay Bay welcomed us with open arms and as a strategic partner and it’s clear that consignors, bidders and visitors were treated to a spectacular experience. Collector cars prevailed in a struggling economy, proving that they can be treated as both a hobby and an investment.”

Bidding was intense for the MG, reaching six figures within seconds of the opening offer. The $313,500 paid for the MG set a new world record. Shelby piloted the British speedster (Lot #819) to a surprise victory in a road race in Norman, Okla., in 1952, a win that set the stage for his prolific career; 10 percent of the MG’s winning bid was donated to one of Mr. Shelby’s charities.

Seven cars were sold for various charities totaling over $655,000 at Barrett-Jackson Las Vegas, including $150,000 for the 2008 Barrett-Jackson Limited Edition Shelby GT. This rare Mustang was signed by the host and judges of “American Idol” and all proceeds from the sale benefitted The Lili Claire Foundation. Additional charity vehicles included a 2006 custom Ford Mustang, that was modified on ESPN2′s “Car Wars With Funkmaster Flex”, that went for $300,000 for the Juvenile Diabetes Research Foundation and a 2007 Dodge Charger raced by NASCAR star Kurt Busch for $85,000. In 2008, Barrett-Jackson has raised over $6.7 million for charities.

“Our goal was to build a docket with a vehicle for everyone,” noted Steve Davis, president of Barrett-Jackson. “While original examples continue to be in demand, resto-mods and customs were particularly popular in Las Vegas.”

The top ten cars sold in Las Vegas include:

  • 1949 MG TC – $313,500 (Lot #819)
  • 2006 Ford Mustang GT – $300,000 (Lot #774.4)
  • 2003 Saleen S7 – $260,700 (Lot #805.1)
  • 1954 Rolls-Royce Silver Dawn – $225,500 (Lot #794)
  • 1969 Ford Mustang Boss 429 – $214,500 (Lot #803.1)
  • 1962 Lincoln Continental – $209,000 (Lot #812)
  • 1938 Packard Victoria – $209,000 (Lot #801)
  • 1970 Ford Mustang Boss 429 – $205,700 (Lot #816)
  • 1970 Plymouth HEMI ‘Cuda – $187,000 (Lot #804.2)
  • 1958 Chevrolet Corvette – $187,000 (Lot #788)

The inaugural Las Vegas event attracted more than 1,200 bidders with over 50 percent being first timers. Automobilia sales were also strong, bringing in over $272,000 during the three day sale. More than 120 vendors and sponsors displayed a variety of items including aircraft, custom cars, racing gear, collectibles, jewelry and clothing.

“We far exceeded the first year of our Palm Beach event, which has continued to thrive over the past six years,” added Davis. “And the success of our Las Vegas event has already generated a wave of consignment and bidder requests for our 2009 Scottsdale event. The solid prices, higher attendance and unprecedented interest by corporate partners should set the stage for a great year for those who love collecting cars.”

“We’re thrilled about the Barrett-Jackson relationship and the outcome of the Vegas event,” said Bill Hornbuckle, president of Mandalay Bay. “This is the beginning of a great strategic partnership focused on lifestyle experiences that only Mandalay Bay and Barrett-Jackson can offer in such a unique and special way. I’m very excited about the association of our brands and the synergies that it provides and look forward to building the Vegas Barrett-Jackson event into one of the largest collector car auctions in the world.”

The 38th Annual Barrett-Jackson Collector Car Event in Scottsdale, Ariz., will take place Jan. 11-18, 2008.

For more information about Barrett-Jackson, visit www.barrett-jackson.com or call (480)
421-6694.

© 2008, VegasNews.com. All rights reserved. All content copyrighted or used with permission. All rights reserved. This content may not be distributed, modified, reproduced in whole or in part without prior permission from VegasNews.com.




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