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2007 Barrett Jackson Scottsdale Auction
By: Drew Phillips
Photos by the author
January 30, 2007

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It’s hard to argue with Craig Jackson claim on “The World’s Greatest Collector Car Event.” Going by the numbers, 2007 saw $111 million in total sales, over 250,000 attendees, and a top sale of $5.5 million, all set new records for the event. "The collector car hobby continues to grow and demand was exceptionally strong for a variety of vehicles ranging from vintage Shelbys to superb customs, top notch muscle cars, obscure makes and even timeless Woodies," said Craig Jackson, CEO of the Barrett-Jackson Auction Company. The first day of the auction set the tone, with a record six cars passing the $100,000 mark.

Muscle cars once again garnered the top sales, many times setting records for individual cars. The abundance of Hemis, ZL-1’s, Yenkos, Shelbys, and Bosses made them seem almost ordinary, dimming the astonishing rarity and quality of many of the vehicles.

Hemi cars, as always, commanded strong prices, and more examples were offered for sale than ever before. Plymouth Hemi Cudas were some of the top sellers with examples selling from $240,000 for an unrestored 1970 model (lot #1276) to $500,000 for the lowest mileage 1970 Hemi Cuda in existence (lot #1262). Mustangs also brought high prices, especially Shelby and Boss models. The first Shelby GT sold for $660,000 (lot #1300), and a candy apple red Boss 429 that went for $605,000 (lot #1325). Rare Chevrolets were up in the mid six figures, with a 1969 ZL1 leading the pack at $880,000 (lot #1314), and the last 1967 Corvette selling for $660,000 (lot #1985).

Concept cars have made many of the headlines last year, starting with the Oldsmobile F88 Concept that sold for over $3 million two years ago, and the Pontiac Bonneville Special that went for a similar mark last year. For 2007, Barrett Jackson offered up a few more, most importantly two 1954 Dodge Firearrow concept cars. The pair was undoubtedly rare and represented an important part of automotive history, but neither had the presence of the previous concepts at the auction. Each brought a final price of $1.1 million, still putting them second and third during the week.

Many of the cars at the auction, including the aforementioned Shelby GT, were sold with much or all of the proceedings going to national and local charities. One of the largest donations came from the sale of the 1993 Hummer H1 “CNN’s Warrior One”, a Foose-modified Hummer that was used by journalists in Iraq in 2003. The winning bid of $1 million along with a $250,000 donation from a runner-up bidder went to The Fisher House, a home for the families of injured soldiers. In total, more than $4 million was raised for various charities during the auction.

The highlight of the auction was undoubtedly the sale of lot #1301, a 1966 Shelby Cobra 427 Super Snake. Called the “Cobra to End All Cobras” by (then current) owner Harley E. Cluxton, this dual-supercharged Cobra was once Carroll Shelby’s personal car. Apparently, Carroll built the car just to see how fast it would be. Only two were officially made by Shelby, with the other one being completely destroyed in a crash. The car has its original engine block, headers, and side pipes, brake calipers, competition 377 rear end, and rear end oil cooler and pumps. The final bid of $5,500,000 set a record for both Barrett Jackson and for an American car.

While the Barrett Jackson outdoes itself year after year, its momentum seems to be slowing. While sales records were broken for the fourth straight year, it seems hard to imagine that Barrett Jackson will upstage itself again next year. While baby boomers will probably continue to buy up the muscle cars they couldn’t afford when they were younger, the prices will most certainly hit a plateau as the flood of muscle cars over the last few years skimmed the initial group of buyers. Those buying cars as investments will also be wary of buying cars at such high prices as well. Even Craig Jackson seemed to know that the market has probably reached its maximum potential, feeling the need to repeatedly emphasize that the “market for car collecting is very, very healthy” and that the prices “demonstrated the incredible strength of the market.” If Craig Jackson says it, does it make it so? On the other contrary, Jackson seems to know how to create an atmosphere where bidders are whipped into a buying frenzy. One thing is for sure: as much as Barrett Jackson will ride its phenomenon as much as possible, we will continue to enjoy the unique and exciting experience of attending the world’s greatest collector car event, all the while eagerly anticipating how they will manage to top themselves next year.