A busy week of collector car auctions wrapped up in Scottsdale, Arizona on Sunday with some positive signs for the classic car market to start they year.
The combined auctions totaled just shy of $260M (USD) in sales as a result of more offerings coming across the block and subsequently more sales. Sales totals for 2017 were in fact the second highest in the events history, but at the same time average sale price was down from the previous year.
A 1963 Jaguar E-Type Lightweight Competition took top sale price honors at almost $7.4 million dollars. Ferrari dominated the top 10 most expensive cars auctioned at the event which followed on trend for the past few years. The most exclusive and rare cars fared the strongest, bringing the most money with the highest sell-through rates – proving once again that these limited opportunity and special vehicles will always be highly collectible and bring in top dollar.
Just below those top tier offerings (in the $250K – $1M range) prices appear to have softened, although a 1955 Mercedes-Benz 300SL sold for well over estimate ($900K – $1M) at a price of $1.46M. The bottom and most active segment of the market (sub $100K) remained strong with high sell rates. Overall the Scottsdale auctions have started the year off on a fairly positive note for collectors, only time will tell how the market fares in the rest of 2017.
FULL AUCTION RESULTS LINKS: