Barrett-Jackson

Established in 1971 and headquartered in Scottsdale, Arizona, Barrett-Jackson Collector Car Auction provides products and services to classic and collector car owners, collectors and automotive enthusiasts. The company produces the “World’s Greatest Collector Car Events” in Scottsdale, Palm Beach, Florida, Orange County, California and Las Vegas, Nevada.

Contents

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 1971, the two jointly presented a classic car auction. Barrett's Mercedes 770 Phaeton sold for $153,000 at this event. The first auction in Scottsdale, Arizona was in January 1973 and was put on by Kruse. Tom Barrett and Russ Jackson consigned about 40 cars to this annual car auction and was a Kruse auction until 1980, when they broke ties with the Kruse company and started their own annual Scottsdale auction.

Russ Jackson died in 1993, and Tom Barrett died in April, 2004. Craig Jackson, who had worked actively on a daily basis throughout the year and on-site at the event, took over. Internet live bidding was introduced that year.

Starting at the 3rd 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.

Beginning in 2010, the auction also takes place in Orange County, California.

Auction

Although it is labeled as an automobile auction, other items including trucks, motorcycles, airplanes, and engines are sold at the auction. Starting in 2007, the auction also sold boats, rock and roll memorabilia, and other items.

The auction has also became a place for American car manufacturers to sell the first production vehicles of a given model and generation combination, in charity format.

The Saturday auction is commonly known as 'Shatterday', referring to the frequent record breaking sales happened during that day.

Many celebrities have attended the event, putting their own possessions up for auction. They included Sammy Hagar, Michael Anthony, Jay Leno, Alice Cooper, 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.

Commissions

Organizer charges premium over final bidding cost from successful bidder and consignor for any item.

Year On-site Buyer Absentee Buyer On-site Automobilia Buyer Absentee Automobilia Buyer
?-2006 8% 12% 15% 17%
2007- 10% 12% 15% 17%
Year Consignor
?-2010 8%

Scottsdale, Arizona

Over the past 39 years, the Barrett-Jackson Scottsdale auction has grown to eight days, including six days of auction, approximately 1000 vehicles, nightlife, fashion shows, drifting, ride ‘n drives, and demonstrations. For the past five years, Barrett-Jackson drew 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 SPEED.

Scottsdale Top Auction Sales

Auction Year Lot Number Vehicle Price (in US dollars, including buyer premium, except charity vehicles)
2007 1301 1966 Shelby Cobra 427 “Super Snake” $5,000,000
2006 1307 1950 General Motors Futurliner "Parade of Progress" tour bus $4,000,000
2005 992 1954 Oldsmobile F-88 concept car $3,000,000
2006 1304 1954 Pontiac Bonneville special Motorama concept car $2,800,000
2006 1309 1970 Plymouth Hemi ‘Cuda 2 door convertible $2,160,000
2008 1304 1963 Chevrolet Corvette coupe “Rondine” concept car $1,760,000
2006 1287 1970 Chevrolet Chevelle LS6 convertible $1,242,000
2006 1306 1952 Chrysler d’elegance 2 door hardtop $1,188,000
2006 1311 1953 Chevrolet Corvette “#003” convertible $1,080,000
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
2007 1281 1993 Hummer H1 “CNN’s Warrior One” $1,000,000
2008 1316 2009 Chevrolet Corvette ZR-1 coupe $1,000,000

Palm Beach, Florida

In 2003, Barrett-Jackson expanded its auction by adding a second annual event in Palm Beach, Florida. The auction has draws over 50,000 visitors, and approximately 500 vehicles cross the auction block each spring. The event is held at the Americraft Expo Center at the South Florida Fairgrounds and includes three days of auction, ride 'n drives, demonstrations, sponsors, vendors and more. 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 SPEED.

Palm Beach Top Auction Sales

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 attracted an eclectic crop of 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 SPEED TV. In 2009, the second annual Barrett-Jackson Las Vegas event welcomed over 51,000 guests and over $23 million in total sales for 428 vehicles. SPEED captured 19 hours of high-definition coverage.

Las Vegas Top Auction Sales

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[1]
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

Charitable Involvement

Charity fundraising has been part of Barrett-Jackson since its foundation. Since 2006, Barrett-Jackson has helped raise more than $20 million. In 2008 alone, Barrett-Jackson raised nearly $7 million at the three annual events. 2009 started off with $4.4 million at Scottsdale’s auction and over $1.5 million in Palm Beach. Some of the charities that have benefited from Barrett-Jackson are The ChildHelp Foundation, The Darryl 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.

Automobilia

At every auction event, Barrett-Jackson sells automobile memorabilia. Dealership signs, hood mascots, transportation toys, gas pumps and garage relics are an among the items that cross the Barrett-Jackson auction block.

Sponsors and vendors

Barrett-Jackson’s sponsors and vendors offer airplanes, boats, and luxury motor homes, car accessories, art, home electronics, collectibles, fashions, jewelry, gifts, and more.

Media coverage

In addition to the live TV coverage on SPEED, Barrett-Jackson receives automotive and lifestyle media coverage on the local, national and international levels. Craig Jackson, CEO/Chairman of Barrett-Jackson, and Steve Davis, President of Barrett-Jackson, have been quoted in publications such as Hemmings, Sports Car Market, AutoWeek, Fortune Magazine, New York Times, USA Today, MotorTrend and many more.

SPEED broadcasts

Speed Channel started live broadcasting the auction since 1997, produced by Lingner Group Productions, Inc. In addition, there are derivative programs based on the auction.

During auction broadcast, SPEED Channel also offers Hagerty Fantasy Bid, a game where viewers seek to closely match the price of the upcoming fantasy car without going over, before the actual bidding. Tie breakers are determined by the time of the bids. Points and prizes are awarded to individual car winners, daily winner, and auction winner.

Co-branding and licensing

In 2008, Sherwin-Williams and Barrett-Jackson teamed up to create a branded line of auto paint under the Planet Color namesake. The line of 25 colors was recently launched in NAPA stores and Sherwin-Williams locations. Merchandise and apparel continues to be the anchor of Barrett-Jackson's licensing program. Apparel, novelties, die cast automobiles are offered.

Collector car insurance

“Barrett-Jackson Endorsed Collector Car Insurance” was introduced during the 2009 Palm Beach auction, offering car enthusiasts comprehensive insurance coverage designed for their needs. Although the program is aimed directly at collectors, it can also expand to cover homes, art, jewelry, yachts and more.

Barrett-Jackson Auction top records by year

Scottsdale, Arizona

Year Lot Item Cost (in US dollars, before buyer premium)
2005 992 1954 Oldsmobile F-88 General Motors concept car $3,000,000
2006 1307 1950 General Motors Futurliner "Parade of Progress" tour bus $4,000,000
2007 1301 1966 Shelby Cobra 427 "Super Snake"
owned by Carroll Shelby
$5,000,000
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

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'[2]
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[3]
$400,000

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".[4][5] 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.[6]

Controversies

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.[7] and 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.[8][9]

See also

References

External links