Barrett-Jackson
Barrett-Jackson is an American auction company in Scottsdale, Arizona. The company specializes in the auction of classic cars and antique cars, and runs collector events in Scottsdale, Palm Beach, Florida, Reno, Nevada and Las Vegas, Nevada.
History
Russ Jackson and Tom Barrett organized the original auction at Scottsdale, Arizona. Jackson met Barrett through an interest in Barrett's 1933 Cadillac V-16 town car. In 1967, Barrett and Jackson presented a car show called "Fiesta del Auto Elegance", a fund-raiser for local charities, including the Scottsdale Library. Then in 1972, the two jointly presented a classic car auction, when they auctioned Adolf Hitler's armored Mercedes-Benz 770K. The car more than tripled the previous auction record, selling for $153,200.[1]
Jackson died in 1993, and Barrett in 2004. Craig Jackson, who had worked actively on a daily basis throughout the year and on-site at the event, took over running the company in 1997, the same year the auction began airing live on the Speed television channel. Internet bidding was also introduced at that time.
Starting at the third annual Palm Beach auction in 2005, the show was renamed from "Barrett-Jackson Classic Car Auction" to "Barrett-Jackson Collector Car Auction," followed by the name change in the Scottsdale, Arizona auction in 2006.
Beginning in 2008, the auction also takes place in Las Vegas.
From 2010 to 2012 the auction was held in Orange County, California. However, on January 19, 2013, Barrett-Jackson announced it would move from Orange County to Reno, Nevada as part of the city's Hot August Nights event in August 2013.
On September 26, 2015, Barrett-Jackson announced that for the first time ever, they would have an auction in the Northeast at Mohegan Sun in Uncasville, Connecticut. The inaugural auction will take place from June 23-26, 2016, with the auction block being located inside the Mohegan Sun Arena.[2]
Auction
Although it is billed as an automobile auction, other items are also sold, including trucks, motorcycles, airplanes, engines, boats and other memorabilia. American car manufacturers sell their first production vehicles of a given model and generation combination, in charity format.
Celebrities who have attended the event putting their own possessions up for auction include Sammy Hagar, Michael Anthony, Jay Leno, Alice Cooper, Gene Simmons & Shannon Tweed, Billy Corgan of the former Smashing Pumpkins, baseball players Reggie Jackson and Randy Johnson, DMX, Carroll Shelby, Bill Goldberg, Tony Stewart, and motorcycle customizer Jesse James.
Scottsdale, Arizona
The company's Scottsdale auction currently runs for eight days, including six days of auction, approximately 1000 vehicles, fashion shows, drifting, ride ‘n drives, and demonstrations. The auction draws over 200,000 spectators at WestWorld, where the event has been held since 1989. The Speed channel has been providing TV coverage of the Barrett-Jackson auction since 1993. At the 39th annual Scottsdale auction, 40 hours of auction bidding was aired live on the channel.
Scottsdale auction sales
Notable sales at the Scottsdale auction have included:
| Auction year | Lot number | Vehicle | Price (in US dollars, including buyer premium, except charity vehicles) |
|---|---|---|---|
| 2007 | 1301 | 1966 Shelby Cobra 427 “Super Snake”[3] | $5,500,000 |
| 2013 | 5037 | 1966 #01 Batmobile[4] | $4,620,000 |
| 2006 | 1307 | 1950 General Motors Futurliner "Parade of Progress" tour bus | $4,320,000 |
| 2014 | 5035 | 1967 Chevrolet Corvette L88 2-door coupe[5] | $3,850,000 |
| 2005 | 992 | 1954 Oldsmobile F-88 concept car | $3,230,000 |
| 2006 | 1304 | 1954 Pontiac Bonneville special Motorama concept car | $3,024,000 |
| 2012 | 5008 | 1948 Tucker Torpedo | $2,915,000 |
| 2012 | 5005 | 1947 Bentley Mark VI Franay | $2,750,000 |
| 2012 | 5000 | 1954 Mercedes-Benz 300SL Gullwing | $2,200,000 |
| 2012 | 5002 | 1933 Pierce Arrow Silver Arrow | $2,200,000 |
| 2006 | 1309 | 1970 Plymouth Hemi ‘Cuda 2-door convertible | $2,160,000 |
| 2013 | 5001 | 1955 Mercedes-Benz 300SL Gullwing Coupe [6] | $2,035,000 |
| 2013 | 5019 | 1947 Talbot-Lago T-26 Grand Sport[7] | $2,035,000 |
| 2008 | 1304 | 1963 Chevrolet Corvette coupe “Rondine” concept car | $1,760,000 |
| 2013 | 5004 | 1934 Dusenberg J Murphy LWB Custom Beverly Sedan[8] | $1,430,000 |
| 2013 | 5034 | 1956 Chrysler Diablo Concept Convertible | $1,375,000 |
| 2013 | 5025 | 1971 Plymouth Hemi 'Cuda Convertible | $1,320,000 |
| 2013 | 5007 | 1929 Isotta Fraschini Tipo 8A SS Castagna Roadster | $1,320,000 |
| 2006 | 1287 | 1970 Chevrolet Chevelle LS6 convertible | $1,242,000 |
| 2013 | 5016 | 1949 Delahaye Type 175 Saoutchik Coupe De Ville | $1,210,000 |
| 2006 | 1306 | 1952 Chrysler d’elegance 2-door hardtop | $1,188,000 |
| 2013 | 5028 | 1919 Pierce Arrow 66 A-4 Tourer - Fatty Arbuckle | $1,210,000 |
| 2007 | 1304 | 1954 Dodge Firearrow II convertible concept car | $1,100,000 |
| 2007 | 1304.1 | 1954 Dodge Firearrow IV convertible concept car | $1,100,000 |
| 2008 | 1311 | 1928 Duesenberg J Dual Cowl Phaeton | $1,100,000 |
| 2009 | 1307 | 1929 Ford 4-AT-E Tri-Motor Airplane | $1,100,000 |
| 2013 | 5041 | 1968 Chevrolet Corvette L-88 Owens/Corning Racecar | $1,100,000 |
| 2006 | 1311 | 1953 Chevrolet Corvette “#003” convertible | $1,080,000 |
| 2007 | 1281 | 1993 Hummer H1 “CNN’s Warrior One” | $1,000,000 |
| 2008 | 1316 | 2009 Chevrolet Corvette ZR-1 coupe | $1,000,000 |
| 2003 | 1967 Ford GT40 Mark I[9] | $347,760 | |
| 2001 | 1931 Duesenberg[10] | $575,000 | |
| 1972 | Marshal of Finland Baron Gustav Mannerheim's Mercedes-Benz 770K[1] | $153,200 |
Palm Beach, Florida
In 2003, Barrett-Jackson added a second annual event in Palm Beach, Florida. The auction draws over 50,000 visitors, and approximately 500 vehicles cross the auction block each spring. The event is held for three days at the Americraft Expo Center at the South Florida Fairgrounds and includes auction, ride 'n drives, demonstrations, sponsors and vendors. The Speed channel has been providing TV coverage of the Palm Beach Barrett-Jackson auction since 2002. At the 7th annual Palm Beach auction, 23 hours of auction bidding was aired live on the channel.
Palm Beach auction sales
Notable sales at the Palm Beach auction have included:
| Auction year | Lot number | Vehicle | Price (in US dollars, including buyer premium, except charity vehicles) |
|---|---|---|---|
| 2006 | 723 | 1947 Bentley Mark VI Coachworks by Franay | $1,760,000 |
| 2005 | 378 | 1953 Buick Roadmaster “Howard Hughes” | $1,650,000 |
| 2006 | 5001 | 2005 Ford GT coupe | $530,000 |
| 2005 | 375 | 1968 Shelby GT500 E convertible | $561,000 |
| 2009 | 369.1 | 1969 Chevrolet Camaro RS custom “Project American Heroes” | $500,000 |
| 2006 | 724 | 1939 Bentley Royale Custom | $407,000 |
| 2006 | 703.1 | 1953 Buick Skylark convertible | $390,500 |
| 2006 | 723.1 | 1931 Bentley Aero coupe hot rod | $385,000 |
Las Vegas, Nevada
In 2008, Barrett-Jackson added a Las Vegas event at the Mandalay Bay Resort & Casino. The inaugural Las Vegas included 533 collector vehicles, over 50,000 attendants and nearly $30 million in total sales over 3 days. Over 16 hours of live coverage was broadcast on the Speed channel. In 2009, the second annual Barrett-Jackson Las Vegas event had over 51,000 visitors and over $23 million in total sales for 428 vehicles. The Speed channel showed 19 hours of the auction.
Las Vegas auction sales
Notable sales at the Las Vegas auction have included:
| Auction Year | Lot Number | Vehicle | Price (in US dollars, including buyer premium, except charity vehicles) |
|---|---|---|---|
| 2010 | 6580 | 2008 Bugatti Veyron Supercar | $770,000 |
| 2011 | 6400 | 1964 Ford Fairlane 2 Door Hardtop | $700,000[11] |
| 2009 | 3000 | 2009 Iacocca Silver 45th Anniversary Fastback Mustang #5 of 45 Limited Edition | $352,000 |
| 2011 | 675 | 2009 Mosler Raptor Prototype | $264,000 |
| 2008 | 805.1 | 2003 Saleen S7 2-door coupe | $260,700 |
| 2008 | 674.3 | 2012 Chevrolet ZL1 Camaro | $250,000 |
| 2008 | 803.1 | 1969 Ford Mustang Boss 429 fastback | $214,500 |
| 2008 | 812 | 1962 Lincoln Continental 4-door sedan “John F Kennedy’s” | |
| 2008 | 801 | 1938 Packard Victoria 2-door convertible | $209,000 |
Reno, Nevada
In 2013 the Orange County, California auction was moved to Reno, Nevada.
Broadcasting
From 1997 through 2013, Barrett-Jackson's auctions were televised by Speed—a relationship dating back to its launch as Speedvision. Its first year featured highlights of the event, but due to popular demand, coverage was expanded into a six-hour live broadcast in 1998, and expanded even further in the years following. The auction's presence on Speedvision continued through its acquisition by Fox Sports and its re-branding as Speed Channel.[12] Following the closure of Speed and its replacement with Fox Sports 1, coverage was spread across several Fox-owned channels, including but not limited to FS1, Fox Sports 2, Fox Business Network, National Geographic Channel, and at the Scottsdale auction in 2013, the over-the-air Fox network as well, from 2013 through 2015.[13][14]
In 2015, broadcast rights to the events were acquired by Discovery Communications, and coverage moved to Discovery Channel and Velocity beginning at the 2015 Scottsdale auction. Chris Jacobs of Overhaulin' and Ray Evernham of Velocity's AmeriCARna became the main on-air hosts, joined by Rick DeBruhl, Mike Joy, and Steve Magnante as analysts.[15]
Charity work
Since 2006, the company has helped raise more than $20 million. In 2008 it raised nearly $7 million at the three annual events. In 2009 $4.4 million was raised at the Scottsdale auction and over $1.5 million in Palm Beach. Some of the charities that have benefited from Barrett-Jackson are The ChildHelp Foundation, The Darrell Gwynn Foundation, Juvenile Diabetes Research Foundation, The National MS Foundation, The Carroll Shelby Children’s Foundation, The Armed Forces Foundation, The Hendrick Marrow Foundation, MLB Charities, The Boy Scouts of America, the EAA Young Eagles, and St. Jude's.
Co-branding and licensing
In 2008, Sherwin-Williams and Barrett-Jackson launched a line of auto paint under the Planet Color brand. The line of 25 colors was sold in NAPA and Sherwin-Williams stores. Branded merchandise and apparel are also licensed, as well as novelties and die-cast toy automobiles.
Company auction records by year
Scottsdale, Arizona
| Year | Lot | Item | Cost (in US dollars, before buyer premium) |
|---|---|---|---|
| 1972 | Marshal of Finland Baron Gustav Mannerheim's Mercedes-Benz 770K[1] | $153,200 | |
| 2001 | 1931 Duesenberg[10] | $575,000 | |
| 2003 | 1967 Ford GT40 Mark I[9] | $347,760 | |
| 2005 | 992 | 1954 Oldsmobile F-88 General Motors concept car | $3,230,000 |
| 2006 | 1307 | 1950 General Motors Futurliner "Parade of Progress" tour bus | $4,320,000 |
| 2007 | 1301 | 1966 Shelby Cobra 427 "Super Snake" owned by Carroll Shelby | $5,500,000 |
| 2008 | 1309 | 1963 Chevrolet Corvette "Rondine" concept car | $1,600,000 |
| 2009 | 1307 | 1929 Ford 4-AT-E Tri-Motor NC9612 | $1,100,000 |
| 2010 | 1307 | 1929 Hamilton Metalplane H47 | $671,000 |
| 2011 | 1296 | 2012 Ford Mustang Boss 302 Laguna Seca | $450,000 |
| 2012 | 5008 | 1948 Tucker Torpedo | $2,915,000 |
| 2013 | 5037 | 1966 #01 Batmobile | $4,620,000 |
| 2014 | 5035 | 1967 Chevrolet Corvette L88 2 Door Coupe | $3,850,000 |
Palm Beach, Florida
| Year | Lot | Item | Cost (in US dollars, before buyer premium) |
|---|---|---|---|
| 2005 | 378 | 1953 Buick Roadmaster 4-door sedan owned by Howard Hughes | $1,500,000 |
| 2006 | 723 | 1947 Bentley Mark VI coachworks by Franay | $1,600,000 |
| 2007 | 697 | 2007 Chip Foose custom coupe built to buyer's specification | $300,000 |
| 2008 | 659 | 1967 Shelby GT500 signed by Carroll Shelby | $190,000 |
| 2009 | 369.1 | 1969 Chevrolet Camaro RS/SS custom 'Project American Heroes'[16] built by Super Chevy magazine | $500,000 |
| 2010 | 678 | 2011 Chevrolet Corvette Chevrolet Corvette ZO6 | $297,000 |
| 2011 | 665.4 | 1957 DeSoto DeSoto Adventurer | $247,500 |
Las Vegas, Nevada
| Year | Lot | Item | Cost (in US dollars, before buyer premium) |
|---|---|---|---|
| 2008 | 774.4 | 2006 Ford Mustang GT custom owned by Funkmaster Flex | $300,000 |
| 2008 | 819 | 1949 MG TC raced by Carroll Shelby | $285,000* |
| 2009 | 704 | 1965 Shelby Cobra CSX2568 1st owned by Jacuzzi[17] | $400,000 |
- Total price exceeds top bidding price after buyer premium
Orange County, California
| Year | Lot | Item | Cost (in US dollars, before buyer premium) |
|---|---|---|---|
| 2010 | 6580 | 2008 Bugatti Veyron | 770,000 |
Lawsuits
At the 2007 Scottsdale auction, after the last authenticated Ramchargers (a former drag racing team that had been staffed by Chrysler Corporation employees) race car had been sold for $300,000, owner David Clabuesch accused the auction company of ending the auctioneering prematurely, resulting in a lower than expected sale price. After the sale, Barrett-Jackson sued Clabuesch for "outrageous and defamatory actions," including chaining the car's wheels at the auction tent and putting up a sign calling its sale "void".[18][19] On January 10, 2008, Barrett-Jackson announced a settlement had been reached three days earlier. In the settlement, Clabuesch exonerated Barrett-Jackson of all allegations of wrongdoing in relation to a situation that occurred at the company’s Scottsdale event in January 2007.[20]
2007 Sports Car Market dispute
During the 2007 Scottsdale auction, Keith Martin, editor of Sports Car Market and a former member of Speed Channel's on-air commentary team for the auction, was ejected from the auction by Barrett-Jackson. At the time Martin was ejected, Sports Car Market had run unfavorable editorials about the state of the collector car industry and whether some cars were worth the high dollars being spent on them but not mentioning Barrett-Jackson or any other firm by name.[21] During the auction Martin allegedly made comments about company business practices and the quality of cars sold; according to Barrett-Jackson, he told people in the media center to leave B-J and attend the auction of a competitor. He was also dropped as a SPEED TV network commentator, at the request of Barrett-Jackson.[22][23]
See also
- Auction theory
- Auto auction
- Antique car
- Classic car
- Game theory
- Online auction business model
- Winner's curse
- Most expensive cars sold in auction
References
- 1 2 3 Frey, Peter W. (March 18, 1990). "A Driving Passion". The New York Times. Retrieved January 20, 2013.
- ↑ "Barrett Jackson To Present Inaugural Northeast Auction In June 2016 At Mohegan Sun- Barrett-Jackson Auction Company". barrett-jackson.com. Retrieved 2015-11-28.
- ↑ "Barrett-Jackson Lot: 1301 - 1966 SHELBY COBRA 427 "SUPER SNAKE"". Barrett-Jackson website. Barrett-Jackson.
- ↑ "Barrett-Jackson Lot: 5037 - 0 #1 BATMOBILE". Retrieved 20 January 2013.
- ↑ "Barrett-Jackson Lot: 5035 - 1967 CHEVROLET CORVETTE L88 2 DOOR COUPE". Retrieved 18 January 2014.
- ↑ "Barrett-Jackson Lot: 5001 - 1955 MERCEDES-BENZ 300SL GULLWING COUPE". Retrieved 20 January 2013.
- ↑ "Barrett-Jackson Lot: 5019 - 1947 TALBOT-LAGO T-26 GRAND SPORT". Retrieved 20 January 2013.
- ↑ "Barrett-Jackson Lot: 5004 - 1934 DUESENBERG J MURPHY LWB CUSTOM BEVERLY SEDAN". Retrieved 20 January 2013.
- 1 2 "Barrett-Jackson Dazzles With Classic Cars, Celebrities And World Record Prices" (Press release). Barrett-Jackson. January 22, 2003. Retrieved January 20, 2013.
- 1 2 "Being There: 2001 Barrett-Jackson Collector Car Auction". Motor Trend. June 2005. Retrieved January 20, 2013.
- ↑ http://automotive.speedtv.com/article/autos-saturday-barrett-jackson-blog2
- ↑ "Barrett-Jackson Reflects on Making Automotive Television History". Barrett-Jackson.com. Retrieved 13 February 2015.
- ↑ "Barrett-Jackson inks TV deal with Fox Sports". Phoenix Business Journal. Retrieved 13 February 2015.
- ↑ "FOX Sports to televise 23 hours of Barrett-Jackson coverage from Reno". FoxSports.com. Retrieved 13 February 2015.
- ↑ "Discovery and Velocity Channels Name New ‘Barrett-Jackson Live’ On-Air Team (Exclusive Video)". TheWrap.com. Retrieved 13 February 2015.
- ↑ 'Heroes' Camaro Hits $500,000 at Barrett-Jackson
- ↑ Barrett-Jackson to Auction Rare, Stunning 1965 289 Shelby Cobra at No Reserve During Las Vegas Event
- ↑ Car drama has Barrett-Jackson suing seller
- ↑ "Barrett-Jackson Auction Co. v. Clabuesch". Digital Media Law Project. Retrieved 3 November 2014.
- ↑ "Barrett-Jackson Auction Company Announces Settlement of Defamation Suit". AuctionPublicity.com. Retrieved 3 November 2014.
- ↑ http://www.sportscarmarket.com/articles/archives/982
- ↑ Golfen, Bob "Collector-car writer ejected from show" The Arizona Republic January 19, 2007
- ↑ Gritzinger, Bob "You're Outta Here - Old cars guru gets the boot from Barrett-Jackson" AutoWeek January 29, 2007