Preliminary sales from Arizona Auction Week 2017 show drops at some auctions, despite an increase of 3 percent in total sales — $259.4 million this year, up from $251.8 million in 2016.
The addition of a Worldwide Auctioneers sale and Bonhams’ doubling their sales total from 2016 are the two main factors that boosted total sales this year.
RM Sotheby’s top sale was a 1939 Mercedes-Benz 540K Special Roadster sold at $6,600,000. Overall, RM Sotheby’s had a 14.3 percent drop in total sales in Arizona, from $62.8m in 2016 to $53.8m this year. The sell-through rate was 89 percent. See the results here.
Gooding sold a 1925 Bugatti Type 35 Grand Prix as their top lot for $3.3m. With a $33.4m sales total, Gooding dropped 21 percent from $42.3m — but only had a 1 percent decrease in the sell-through rate to 84 percent. See the results here.
Bonhams sold a 1963 Jaguar E-Type Lightweight Competition as their top sale for $7,370,000. The Bonhams sales total doubled from $18m in 2016 to $36.3m this year, with an 82 percent sell-through rate. Results are posted here.
Russo and Steele totaled roughly $20.7m — a 3 percent dip from last year’s total of $21.3m. Early reports show a 74 percent sell-through rate. The top sale was a 1954 Mercedes-Benz 300S Cabriolet that sold for $423,500.
A $1,980,000 1967 Chevrolet L88 Corvette Convertible was the top sale at Worldwide Auctioneers. For their first year in Scottsdale, Worldwide Auctioneers hit a $10.8m sales total, with a 74 percent sell-through rate. Their results are here.
Silver Auctions’ top sale was a 2007 Ford Mustang Shelby GT GC for $70,200. Silver had a reported sales total of $3.3m — a 15 percent decrease from last year’s total of $3.9m.
Barrett-Jackson totaled $101.1m in sales, a 2 percent decrease from the $103.4m achieved last year. Barrett-Jackson ended the action with a 99 percent sell-through rate. A 1964 Aston Martin DB5 was their top sale at $1,485,000. The auction results are here.
Sale totals will probably change over the next week or so, as post-block deals are made. We’ll report any changes, and be sure to check out the April 2017 issue of Sports Car Market for extensive reports on all the Arizona sales and happenings.