Arizona auctions: Scottsdale sales net an estimated $157 million


Arizona auctions poised for record year

By DAVE KINNEY on 1/23/2011

Gooding & Co. finished its second and final day of auctions on Saturday, and as has become the norm, beat last year's totals. Closing out its week at an estimated $34.9 million, eight lots made it into the million-dollar club.

Last year's results posted $33.9 million; the estimated $1 million gain closes out the week second only to Barrett-Jackson.

RM Auctions, as reported earlier, finished the week posting sales of $30.6 million and had its best week ever in Arizona. Growth against last year's total of $19.6 million was notable.

With one day left of auctions, Russo and Steele has unverified results of $17.9 million. Last year's Russo and Steele results were way down as a result of the tent collapse, but they are already equal to their 2009 levels. Barrett-Jackson, also with one day of sales remaining, is poised to beat its 2010 levels, with an estimated $65.9 million.

Silver Auctions, returning to its Fountain Hills location just a few miles from Scottsdale, will also beat dollar amounts from last year. With Sunday sales left to complete, its two-day total stands near $3.2 million.

When final results are tallied, 2011 will beat 2010 for each auction company, and for most will be an all-time best year. 


Arizona auctions: Scottsdale sales net an estimated $157 million

By DALE JEWETT on 1/24/2011

Five days of sales staged by auto auction companies in the Phoenix area pulled in a combined estimated total of $157 million, according to Hagerty Insurance.

The five companies staging auctions--Barrett-Jackson, Gooding & Co., RM Auctions, Russo and Steele and Silver Auctions--offered 2,887 lots for sale and sold 2,325 of them, an 81 percent sell-through rate.

A 2006 Ferrari FXX Evoluzione at the Gooding auction was listed as the top single sale with a price of $2.09 million, Hagerty said.

Rounding out the top five sales:

-- 1949 Ferrari 166 MM Barchetta, RM Auctions, $1.87 million

-- 1933 Packard Twelve Sport Phaeton, RM Auctions, $1.76 million.

-- 1953 Fiat 8V Supersonic, Gooding, $1.70 million.

-- 1970 Plymouth 'Cuda Hemi Convertible, Russo and Steele, $1.70 million.

At the Barrett-Jackson auction, the top-selling lot was a 2010 Marine Technology Catamaran Custom 44-foot boat, complete with a trailer and a 2008 Chevrolet Corvette Z06. It sold for $742,500.

At the Silver Auctions, the top-selling lot was a 2001 Ford F-650 Super Duty and trailer, which sold for $91,260.

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