Barrett-Jackson‘s 14th Annual Palm Beach auction hit some big numbers over the weekend:
More than $23.2 million in sales.
More than 65,000 people on the scene.
First-time bidders made up 42 percent of all bids, and the sell-through rate was 96.3 percent.
High sale was Lot 423, a 1969 Ford Mustang Boss 429, which brought $550,000.
Barrett-Jackson’s Supercar Showcase made a big splash. Lot 401, a 2006 Ford GT Heritage Edition with less than 5 miles on the clock, sold at $467,500.
“Our Palm Beach auction was a remarkable success with an incredible docket of desirable supercars, original muscle cars and automobilia,” said Craig Jackson, chairman and CEO of Barrett-Jackson. “The crowds were electric throughout the weekend and primetime Saturday felt like primetime in Scottsdale as the wave of energy carried over from our 45th Anniversary Scottsdale Auction. We look forward to bringing this same excitement to our inaugural Mohegan Sun Auction in June.”
How do the sales figures compare to last year?
Was there a continuation of the decline we saw at Scottsdale in January?
First time bidders made up 42% of all bids? We ARE in a bubble! The smart money are the seller.