Collector-car buyers, the '55 Mercedes Gullwing seemingly removed from sold for $4.6 million. economic hardships, bought "It's a rare investment more than $176 million in vehicle," said Turek, an cars over the past week at exotic-car enthusiast who six Valley auctions. drives a 1995 Lotus Esprit. Two mid-1950s Mercedes-Benz "They won't lose money on it." 300SL Gullwings, a trio of Gooding reported sales of Ferraris and a 1948 Tucker seven million-dollar cars and Torpedo were among the stars $39.6 million in total sales, at Barrett-Jackson and up 13 percent from a year ago. Gooding & Co., both in RM Auction's sales slipped 17 Scottsdale, and RM Auctions percent but it scored a big at the Arizona Biltmore in sale of a 1957 Ferrari 410 Phoenix. All three auctions Superamerica Coupe for $1.8 ended Sunday. million. Photos | Up close: The cars Bonhams, new to the Valley, Santa Monica, Calif.-based sold $5.7 million worth of Gooding sold a 1955 Mercedes- cars on Thursday at the Benz 300SL with a lightweight Westin Kierland Resort and aluminum body for $4.62 Spa in Phoenix, according to million and a 1959 Ferrari figures compiled by Hagerty 250 California Spyder for $3. Insurance. 9 million. Those were the top- Russo's sales in Scottsdale two selling cars of auction totaled $17 million through week in the Valley. Saturday at an average price Scottsdale-based Barrett- of $48,677, Hagerty reported. Jackson, with $85 million in One of Russo's featured cars, car sales through Saturday, a 1953 Chevrolet Corvette had its best year since 2008 long owned by Corvette with nine cars that sold for historian Noland Adams, did more than $1 million. not reach its minimum or The auction results reflect reserve price and did not confidence in the economy, sell. said McKeel Hagerty, whose Dwayne Bublitz, the insurance company covers Corvette's co-owner, said the collector cars. bidding halted at $395,000. "Arizona auction week "That's the way it goes with delivered a number of hits the auction game," said and big sales for the classic- Bublitz, who runs a Corvette car world," he said, adding tour company based in that the results were unlike Flagstaff. "the irrational exuberance of Silver Auctions' sales at the a few years ago." Fort McDowell Resort and Collector-car sales peaked in Casino hit $2.95 million. 2007 at $111 million for Bidders at Barrett-Jackson Barrett-Jackson, the largest were in a spending mood on of the local auctions, and Saturday night as they dipped to $63 million in 2009 competed for a 1964 Ford as the economy soured. After Fairlane 500 that raised $1 two years of modest growth in million for the Armed Forces sales, Barrett-Jackson's Foundation. results this year are already Jay Leno egged on bids for up 22 percent from last year his 2007 New Holland tractor not counting Sunday's totals. that brought $535,000 for the "Barrett-Jackson is back with Fisher House, another charity million-dollar-plus cars, that helps military families. which should move some One of the wild-card cars at attention back to them," Barrett-Jackson, a 1964 Hagerty said. Cadillac hearse linked to Barrett-Jackson's four President Kennedy, sold for decades of success in $176,000. It carried the Scottsdale has brought president's body after the competition from Phoenix- 1963 assassination in Dallas. based Russo and Steele and Stephen Tebo, 67, a the more-focused Gooding, RM commercial real estate Auctions and Bonhams, which investor in Boulder, Colo., feature European sports cars bought the hearse. and few if any American "I have a car collection that muscle cars. I want to turn into a museum, "Gooding is a lot more " Tebo said. sophisticated and it has more Final sales and attendance expensive cars, but they're figures from Barrett-Jackson all fun," said Larry Turek, and Russo and Steele were 52, of Gilbert. unavailable late Sunday It did not surprise him that afternoon.
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