Barrett-Jackson: Go for the auction, stay for the spectacle

This year marked the 10th time Barrett-Jackson has rolled into the fairgrounds in Palm Beach. The event, April 5-7, brought a record $18 million in revenue, according to Barrett-Jackson. More than 55,000 people were in attendance in the Thursday through Saturday event—that Sunday was Easter.

Barrett-Jackson bills itself as “the world's greatest collector-car auctions.” If you were expecting just what the market generally defines as collector cars, Barrett-Jackson has some news for you. The mix included what it describes as classics, muscle cars, hot rods, resto-mods, exotics and contemporary collectibles. The contemporary-collectibles category was chock-full of cars for Palm Beach—for example, 28 cars were Mercedes-Benz models from the 1990 to 2008 era. In fact, 69 vehicles in the sale were 2000 and newer models. In an approximately 450-vehicle sale, depending on your point of view, that's either expanding the market to include possible future collectibles, or a lot of time spent auctioning cars similar to those offered in the used-car market.

Exotics were in short supply for a South Florida sale, something that might be indicative of a continued hot market in the high end. Those exotic nameplates in the sale tended to be newer or at lower price points. For example, the four Ferraris auctioned included a 1980 308 GTS that sold for $25,300, a 1988 Mondial convertible that brought $28,600 and a 1995 348 Spyder selling for $37,400. The top Ferrari seller was a 1997 F355 Spyder at $74,800. All prices include a 10 percent commission. No Lamborghinis made the sale. The lone Maserati was a 2008 Quattroporte; it brought $53,900, despite the admonition on the car card that the “CarFax shows on 8/20/2011 vehicle damaged in multiple places.”

Two Aston Martins made the sale; both were Volantes (Aston speak for convertible), and both brought impressive amounts. The older, a 1982 with a rare five-speed brought $72,600. The second car, a DB7 from 2002 in triple black, sold for $45,100.

Included in the mix of newer cars were a number sold for various charities, including a Renntech 2004 Mercedes SL600 with all chrome exterior panels that sold for $155,000. This “Chrome Edition” roadster is a one-of-one and must be in the running for eligibility as the most pulled-over car in the history of police patrol, especially if driven at night.

The top seller of the event was a 2011 Shelby GT 500, the American flag graphic 16,000-mile car was sold to benefit Wounded Warriors Family Support, a 501(c)(3) organization. The Shelby sold for $500,000 and was immediately donated back by the high bidder. The second time auctioned, the Shelby brought $450,000. Two others at the auction reportedly kicked in $25,000 each to bring the total raised to $1 million.

The older and larger Wounded Warrior Project successfully sued Wounded Warrior Family Support. In a judgment, the U.S. Court of Appeals for the eighth circuit affirmed that WWFS had “sowed confusion on the Internet by using a Web site to solicit donations intended for WWP, in violation of Nebraska law.”

At Barrett-Jackson, it's not just a car auction. It's entertainment.

By Dave Kinney