US Classic Car Values: Pedal To The Metal

How’s the classic car market holding up in the USA during a time of rocketing gas prices? Pretty well if the latest Barrett Jackson auction results are a reliable indicator. Of course these V8 classics are not daily drivers, but they do show that people are willing to invest in solid assets for their future wealth. Not just crypto. Here’s the word;

Barrett-Jackson, The World’s Greatest Collector Car Auctions, delivered the ultimate automotive lifestyle experience during this year’s Las Vegas Auction, June 30-July 2, in the West Hall of the Las Vegas Convention Center. Fittingly, American muscle cars led the way over the Fourth of July holiday weekend, including a 1970 Plymouth HEMI Superbird (Lot #734) that sold for a world auction record $1.65 million. In total, 663 vehicles sold with No Reserve for over $48.2 million, while 279 pieces of automobilia brought in over $869,000, bringing the total auction sales to more than $49.1 million, a Barrett-Jackson Las Vegas Auction record, with a 100-percent sell-through rate and over 40 world record auction sales achieved.

“Our Las Vegas Auction provided our guests an amazing, unparalleled experience over the Independence Day holiday weekend,” said Craig Jackson, chairman and CEO of Barrett-Jackson. “We set the stage with our world-class Opening Night Party at Zouk Nightclub followed by our ‘supercar therapy’ event with the Driven Project that put kids battling serious illnesses into supercars on Thursday morning. We then filled the next three days with exciting auction moments, including the sale of 2023 Cadillac Escalade-V First Retail Production VIN 001, which raised $525,000 for charity. The Las Vegas Auction also demonstrated the demand for blue chip HEMI cars that brought in strong hammer prices.”

The top 6 non-charity vehicles that sold during Barrett-Jackson’s 2022 Las Vegas Auction included:

  1. 1970 Plymouth HEMI Superbird (Lot #734) – $1,650,000
  2. 1963 Chevrolet Corvette 327/360 Z06 Split-Window Coupe (Lot #733) – $566,500
  3. 1958 Chevrolet Corvette Custom Topless Roadster (Lot #748) – $550,000
  4. 1971 Plymouth HEMI ’Cuda (Lot #752) – $550,000
  5. 1970 Plymouth HEMI ’Cuda (Lot #734.1) – $517,000
  6. 1941 Cadillac Series 62 Custom Convertible (Lot #753) – $385,000

AUTOMOBILIA VALUES

Even old petrol station signs, parts promo merchandise and other accessories can fetch serious money now.

Barrett-Jackson’s Las Vegas Auction sold 279 automobilia pieces at No Reserve for $869,100.00 (includes buyer’s premium). The top three automobilia pieces that sold during the Las Vegas Auction include:

  1. 1954 Mobil Oil Neon (Lot #8299) – $34,500
  2. 1940s Greyhound Bus Lines Animated Neon Sign (Lot #8294) – $29,325
  3. Circa 1930s-40s Quality Restaurant Single-sided Neon Porcelain Diner Sign (Lot #8296) – $25,300

Barrett-Jackson is accepting consignments for the 2022 Houston Auction, October 20-22, at NRG Center. Those interested in being a part of the auction may consign their collector vehicle here. Those interested in registering to bid for the 2022 Houston Auction may do so here.

 

About alastair walker 10146 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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