Barrett-Jackson
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Established in 1971 and headquartered in Scottsdale, Arizona, Barrett-Jackson Collector Car Auction specializes in providing products and services to classic and collector car owners, astute collectors and automotive enthusiasts around the world. The company produces the “World’s Greatest Collector Car Events” in Scottsdale, Palm Beach, Florida. and Las Vegas, Nevada.
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[edit] History
The car show was first introduced by Russ Jackson and Tom Barrett at 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 joined together to present a classic car auction. Barrett's Mercedes 770 Phaeton sold for $153,000 at this event and the Barrett-Jackson name soon became internationally prominent.
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 and developed the company further through expansion and innovation. Internet live bidding was also introduced that same 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.
[edit] 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 things. It is widely believed that the high visibility of the auction has caused the prices of vintage cars to rise greatly in the last several years.[citation needed]
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 attended the event, putting their own possessions up for auction. They included Sammy Hagar, Michael Anthony, Jay Leno, Billy Corgan of the former Smashing Pumpkins, baseball player Reggie Jackson, Randy Johnson, DMX, Carroll Shelby, Bill Goldberg, Tony Stewart, and Jesse G. James.
For nearly four decades, the Barrett-Jackson Auction Company has been recognized throughout the world for offering a unique selection of collector vehicles, outstanding professional service, and unrivaled sales success. From classic and one-of-a-kind cars to exotics and muscle cars, Barrett-Jackson offers something for everyone. Barrett-Jackson Collector Car Auctions have captured the true essence of a passionate obsession with cars that extends to collectors and enthusiasts throughout the world. Although notably known for auctioning collector automobiles, other items including trucks, motorcycles, airplanes, trains, boats, engines and automobile memorabilia all cross the infamous block at Barrett-Jackson.
[edit] Commissions
Organizer charges premium over final bidding cost from successful bidder and consigner 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 | Consigner |
|---|---|
| ?-2010 | 8% |
[edit] Scottsdale, Arizona
Over the past 38 years, the Barrett-Jackson Scottsdale auction has grown to be more than an auction, it’s a lifestyle event featuring eight days of fun, 6 days of auction, approximately 1000 vehicles, nightlife, fashion shows, drifting, ride ‘n drives, demonstrations, sponsors, vendors and more. For the past five years, Barrett-Jackson has welcomed over 200,000 spectators through the gates at WestWorld, where the event has been held since 1989. The Speed Channel has been providing TV coverage of the Barrett-Jackson auction since 1996. At the 38th annual Scottsdale auction, 40 hours of live, high-definition auction excitement was aired on SPEED.
[edit] 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 | $4,320,000 |
| 2005 | 992 | 1954 Oldsmobile F-88 concept car | $3,240,000 |
| 2006 | 1304 | 1954 Pontiac Bonneville special Motorama concept car | $3,024,000 |
| 2006 | 1287 | 1970 Plymouth Hemi ‘Cuda 2 door convertible | $2,160,000 |
| 2008 | 1309 | 1963 Chevrolet Corvette coupe “Rondine” concept car | $1,760,000 |
| 2006 | 1309 | 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 |
| 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 |
[edit] Palm Beach, Florida
In 2003, Barrett-Jackson expanded its auction by adding a second annual event in Palm Beach, Florida. Over the last 7 years, the auction has grown exponentially to attract over 50,000 visitors as approximately 500 vehicles cross the auction block each spring. The event is held at the Americraft Expo Center at the South Florida Fairgrounds and features 3 days of auction, ride and 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 live, high-definition auction excitement was aired on SPEED.
[edit] 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 |
[edit] Las Vegas, Nevada
Barrett-Jackson’s monumental growth continued in 2008 when it added a Las Vegas event at the Mandalay Bay Resort & Casino, giving auto enthusiasts around the globe the one-and-only “Triple Crown” of car collecting. The inaugural Las Vegas event was a smash hit, attracting 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, high-definition auction excitement was captured on SPEED.
[edit] Las Vegas Top Auction Sales
| Auction Year | Lot Number | Vehicle | Price (in US dollars, including buyer premium, except charity vehicles) |
| 2008 | 819 | 1949 MG TC Roadster Race Car | $313,500 |
| 2008 | 774.4 | 2006 Ford Mustang GT coupe custom “Funkmaster Flex’s” | $300,000 |
| 2008 | 805.1 | 2003 Saleen S7 2 door coupe | $260,700 |
| 2008 | 794 | 1954 Rolls Royce Silver Dawn custom 4 door Saloon | $225,500 |
| 2008 | 803.1 | 1969 Ford Mustang Boss 429 fastback | $214,500 |
| 2008 | 812 | 1962 Lincoln Continental 4 door sedan “John F Kennedy’s” | $209,000 |
| 2008 | 801 | 1938 Packard Victoria 2 door convertible | $209,000 |
| 2008 | 816 | 1970 Ford Mustang Boss 429 fastback | $205,700 |
[edit] Charitable Involvement
Charity fundraising has been a part of the Barrett-Jackson legacy since Russ Jackson and Tom Barrett started the company nearly 40 years ago. 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 an amazing $4.4 million at Scottsdale’s auction and over $1.5 million in Palm Beach. Some of the charities that have benefitted 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, [[[St.Jude's]]] and many more.
[edit] Automobilia
At every auction event, Barrett-Jackson brings together the finest array, highest grade and investment quality of Authentic Automobile Memorabilia. Dealership signs, hood mascots, transportation toys, gas pumps and garage relics are a few of the items that cross the Barrett-Jackson Automobilia auction block and kick off the collector car auction.
[edit] Sponsors & Vendors
Barrett-Jackson’s sponsors and vendors offer everything from airplanes, boats, and luxury motor homes, to car accessories, art, home electronics, collectibles, fashions, jewelry, gifts and much more. Sponsors include Ford, General Motors, Discount Tire, Bridgestone, Cox, SPX Corporation, FedEx Custom Critical, Intercity Lines, Meguiar’s, Mothers, DuPont Registry, Molina Jewelers, Bondurant, Planet Color, Marathon Coach, Featherlite Trailers, Swisstrax, Superlifts, Ricoh, Las Vegas Convention & Visitors Authority, Reliable Carriers, 944 Media, Fairmont Scottsdale, Southern Wine & Spirits, Arizona Foothills Magazine, and Jetset Magazine to name a few.
[edit] 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, are available for interviews and are often quoted in publications such as Hemmings, Sports Car Market, AutoWeek, Fortune Magazine, New York Times, USA Today, MotorTrend and many more. Check out Barrett-Jackson ‘In The News’ at http://www.barrett-jackson.com/media/inthenews.asp
[edit] SPEED broadcasts
Speedvision has started live broadcasting the auction since 1997, produced by Lingner Group Productions, Inc. In addition, there are other derivative programmes based on the auction.
- Barrett-Jackson Car Search (2004): A contest between teams to find old cars, restore them, then sell the cars in Barrett-Jackson auctions.
- Barrett-Jackson – Life on the Block (2005-2007): A show produced at the time of the auctions, covering people involved in the auctions.
- Barrett-Jackson ON THE ROAD (2006): Craig Jackson and SPEED Channel staff introducing collector vehicles in automobile shows. Craig Jackson also appraises vehicles on stage.
- Barrett-Jackson THE ROAD TO LAS VEGAS (2008-): Preview of the vehicles in the first Barrett-Jackson Las Vegas auction.
During auction broadcast, SPEED Channel also offers Hagerty Fantasy Bid, a game which involves viewers closely matching the price of the upcoming fantasy car without going over, before the actual bidding of the car. Tie breakers are determined by the time of the bids. Points and prizes are awarded to individual car winners, daily winner, and auction winner.
[edit] Co-Branding & Licensing
The Barrett-Jackson brand name continues to elevate year after year with strong presence on TV, the web, in advertisements and in various events around the country.
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 around the country. Check out the colors here http://www.sherwin-automotive.com/en/ProductHighlights/PaintSystems/PlanetColor/Barrett-Jackson-Planet-Color.aspx.
Merchandise and apparel continues to be the anchor of Barrett-Jackson's licensing program. Apparel, novelties, die cast automobiles and more can be found at http://www.barrett-jacksonmerchandise.com/featured.php.
[edit] Collector Car Insurance
“Barrett-Jackson Endorsed Collector Car Insurance” was introduced during the 2009 Palm Beach auction. Car enthusiasts and collectors worldwide can now receive comprehensive insurance coverage designed especially for collectors, along with competitive prices and a menu of supplemental services to enhance the protection of insured vehicles. Although the program is aimed directly at collectors, it can also expand to cover homes, art, jewelry, yachts and more. The coverage offers benefits such as 150% of agreed value, limited coverage worldwide, roadside assistance, and choice of repair shop. More information and a free quote can be found at http://www.barrett-jackson.com/insurance/
[edit] Barrett-Jackson Auction top records by year
[edit] 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 | ? | ? | ? |
[edit] 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'[1] built by Super Chevy magazine |
$500,000 |
| 2010 | ? | ? | ? |
[edit] 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[2] |
$400,000 |
- Total price exceeds top bidding price after buyer premium
[edit] Orange County, California
| Year | Lot | Item | Cost (in US dollars, before buyer premium) |
|---|---|---|---|
| 2010 | ? | ? | ? |
[edit] 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".[3][4] 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.[5]
[edit] 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 and articles concerning Barrett-Jackson, and during the auction Martin allegelly made comments about the state of affairs of the company; according to Barrett-Jackson, he told people in the media center to leave B-J and attend the auction of a competitor.[6][7]
[edit] See also
- Auction Theory
- Auto auction
- Antique car
- Classic car
- Game theory
- Online auction business model
- Winner's curse
[edit] References
- ^ '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
- ^ Barrett-Jackson Auction Company Announces Settlement of Defamation Suit
- ^ 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
[edit] External links
- Barrett-Jackson Auction Company homepage
- Barrett-Jackson Auction Company Official Store
- SPEED Channel Barrett-Jackson homepage
- Comer, Colin "Russian Roulette with a Full Clip" one of the offending Sports Car Market article that resulting in Keith Martin being ejected
- Martin, Keith "Beanie Babies and Muscle Cars" another of the offending Sports Car Market articles
