Scottsdale Recap, Inside Craig Jackson's Private Collection
February 2014 - Volume 2 Issue 1

Collector Car Auction Recap

Some of The World's Best Collector Car Auctions were just held in beautiful Scottsdale AZ and a new record was set by Barrett-Jackson with over $113 million in sales!  This year, TJ and Trevor saw the world’s most expensive Corvette cross the block and even met the star of Discovery Channel's Fast N' Loud.  Russo and Steele auction company along with Barrett-Jackson featured more than 1,750 of the world’s finest collector automobiles; with over 300,000 drooling collectors and enthusiasts in attendance from around the globe. Russo and Steele even reported attendance was up 35% from last year!

Car of the Month - 1991 Ferrari F40

The F40 is a mid-engine, rear-wheel drive, two-door coupé sports car built from 1987 to 1992.  It was designed to celebrate Ferrari's 40th anniversary and was the last Ferrari automobile personally approved by Enzo Ferrari.  At the time of production, it was the fastest, most powerful, and most expensive car that Ferrari ever sold to the public.  It debuted with an MSRP of approximately $400,000 in 1987 ($820,000 today), although some buyers were reported to have paid as much as $1.6 million. 

Fast N' Loud's Gas Monkey Garage, along with partner Dennis Collins, took on the intimidating task of rebuilding this nearly totaled F40. It rolled off the block with a winning bid of $675,000.  Now, $675,000 alone for a Ferrari F40 isn’t all that impressive. With only 1,315 F40s ever produced, we think this one sold for a bargain. Even Gas Monkey Garage’s Facebook page says that Dennis “wishes it had gone for much more.” What’s even more interesting is the man behind the winning bid is none other than baseball legend Reggie Jackson. Apparently, a man who has a taste for rare automobiles!

Fast N' Loud is one of the newest motor-head, reality shows to hit the tube. The show has a certain charm and dry humor that keeps us coming back to watch week after week. TJ and Trevor caught up with the star of the show, Richard Rawlings behind the block just before the sale of Richard & Dennis' Ferrari F40.

TJ's Tips - Trending Collector Cars
The Top 10 Most Expensive Sales

For the 3rd year in a row, TJ has been in attendance and has come back with the latest expertise and knowledge of the car collector industry. Although Barrett-Jackson wasn't the only auto auction going down around Scottsdale that weekend, it certainly got the most attention and had the most interesting mix of vehicles up for auction.
Here's a list of the top 10 cars sold during the week:

1. 1967 Chevrolet Corvette L88 2 Door Coupe- $3,850,000
Only 20 of these Corvettes were built... clearly a winner. According to Barrett-Jackson, such Corvettes have been dyno-tested at 560 horsepower. Vroom, vroom!

Photo Courtesy of Barrett-Jackson Auction Co. LLC

2. 1969 Chevrolet Corvette #57 Rebel Convertible Race Car- $2,860,000

3.  1955 Mercedes-Benz 300SL Gullwing Coupe- $2,090,000
4.  1998 Ferrari F300- $1,870,000
5.  1963 Shelby Cooper Monaco King Cobra- $1,650,000
6.  1929 Duesenberg SJ Lebaron Dual Cowl Phaeton- $1,430,000
7.  2008 Bugatti Veyron 2 Door Coupe “Simon Cowell’s”- $1,375,000
8.  1954 Plymouth Belmont Concept Car- $1,320,000
9.  1939 Alfa Romeo 6c 2500 Sport Touring- $997,500
10. Hot Wheels set of funny cars and ramp trucks- $990,000

Though no car brought in $4.6 million like the Batmobile did last year, several were sold for millions and numerous records were broke!

Did You Know?
There's work to be done in Scottsdale too!

In addition to walking the tents, scoping out cars and intensely watching the auctions; some work was done too!  On Friday morning before the doors opened at Russo and Steele, TJ and Trevor attended a seminar called "The Art of Restoration."  Guest speakers included Bob Smith and Alan Taylor, world renowned auto restoration experts, Lance Coren, internationally known Ferrari appraiser, and Drew Alcazar, CEO of Russo and Steele.  These experts provided valuable insight into what to collect, how to collect and the importance of planning for each vehicle. 

Another important event took place during the weekend as well, The All Auto Appraisal Industry Conference.  As certified members of The International Automotive Appraisers Association, both TJ and Trevor took part in updating their credentials by participating in Continuing Education Units.  These units were led by automotive experts James Moy and Amy Coren.  James is an I-Car certified estimator, has master collision repair expert status for Mercedes-Benz and holds licenses in 7 states.  Amy is a practicing Lawyer and Law Professor with expertise in Automotive, Arbitration and Mediation law.  Dr. Amy Coren enlightened the attendees about how federal courts and judges determine the credibility of an expert witness during pre-trial hearings.  This information is very important for appraisal specialists when preparing their valuation reports on vehicles. If your interested in learning more about the value of your collector car, click here.

Clip Of The Month

Click Photo to see Craig Jackson's Private Collection


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