The Scottsdale Auction Week was, as expected, over the top! Every auction day (or night) was punctuated by new records for all types of automotive art on wheels. When the records weren’t being broken, there were hangar parties, receptions, seminars, exotic car displays in VERY exotic locations and of course, the duPont REGISTRYTM/LIVE “After Party” at the absolutely stunning W Hotel in downtown Scottsdale.
Across all the auctions, the top 10 cars (all European marques) sold for a cumulative $44,000,000; averaging $4,400,000 per car. This was a staggering pace for the rest of the cars that followed, earning another $215,800,000 for the sellers (total $259,800,000). Surely, another $201,000 has sold off the block to break the $260 million ceiling.
Total dollars spent were up over 2015 and 2014, remember 2015 was a down year due to a handful of very expensive cars auctioned in 2014.
Top dollar cars, like the top ten, were strong with rarity and provenance capturing the buyer’s attention. The middle ground was soft due to an oversupply of average-condition cars (resulting in not as many record sales as expected). However, the enthusiast market was on fire with domestic marques countering the European lead in the high end by dollars and numbers.
Barrett-Jackson lead the auction field in offering quantity – 1,703 vehicles sold out of 1,719 offered – and dollars spent -- $102 million at press time. It is important to note that Barrett-Jackson numbers include nine cars sold for charity, with no fees (zero) levied by the auction. One of the cars offered was for the benefit of Janie’s Fund -- Steven Tyler’s 2012 Hennessey Venom GT Spyder. The rock star offered a week in his Maui home to entice more bidders. And, the duPont REGISTRYTM offered up an autographed guitar (signed by the whole Aerosmith band) to go with the car and the price immediately jumped by $50,000. Total for the sale was $800,000. All charity cars sold total $2.2 million raised for charity. Congratulations and a big thanks to Carolyn and Craig Jackson for all they do (at no charge) for so many worthwhile charities!
There were several Celebrity Cars that crossed the auction block. The duPont REGISTRYTM , once again, assisted in spirited bidding for Floyd Mayweather’s 2011 Bugatti Veyron 16.4 Grand Sport. It came on the block in front of a capacity crowd who cheered when several copies of the duPont REGISTRYTM with Floyd’s car on the cover were held up by Floyd and Craig Jackson. Floyd then autographed a copy for Craig and a large cover poster accompanied the gorgeous white Spyder off stage with a high bid of $1,900,000. We were glad to help… but a no-sale. But, maybe it sold off the block, later?
Importantly, the weather was not Arizona-perfect, but that didn’t deter the excitement -- the crowds were huge. Even the duPont REGISTRYTM /LIVE AFTER PARTY gala at the W hotel was packed. Pool side and barely under shelter, it was another great finish to a very busy, and wet, Friday, followed by a super Saturday and the Sunday Finale in the Sun.
So, January is over and the year is off to a rock-solid start. Stay with us each month and at each event. Can’t wait that long? Go to our Facebook page, our blog site “Autofluence.com” or duPontREGISTRY.com for the latest up-to-date information on the fabulous world of classic, luxury and exotic automobiles, and the very finest accessories.
Thomas L. duPont