Let’s Review: Barrett-Jackson – Palm Beach 2009 Collector Car Auction
Let’s Review:
Barrett-Jackson – Palm Beach 2009
By: Bryan W. Shook, Esquire
Email: bshook@shooklegal.com
Well, it’s hard to believe but the 7th Annual Barrett-Jackson Palm Beach Collector Car Auction is behind us.
How did the stars of the auction do?
The top seller of the weekend was Lot Number 369.1 the Super Chevy Magazine feature custom 1969 Chevrolet Camaro RS/SS titled “Project American Heroes”. The Camaro, which included parts supplied by over twenty five major speed parts producers and a legendary LS-series GM 427cu GMMG supplied powerplant, hammered sold for $500,000.00! The proceeds from the sale of the Camaro will go to benefit the Armed Forces Foundation, a truly worthy cause.
Two other stars of the auction with their proceeds going to charity were Lots Nos. 655 and 655.1 the 2004 Ford Mustang GT Convertible concept car and the 2004 Ford Mustang GT Coupe concept car, respectively. These cars debuted in January 2003 at the North American Auto Show and arguably started the current muscle car frenzy amongst the big three. Many people believe that these two concept Mustangs are what raised the ante for General Motors and Chrysler to go all in again and give the public what they want, FUN muscle or muscle-type cars. Ford let these two ponies out of their livery for Charity. Both concepts sold individually for $175,000.00, each, a bargain, any way you slice it. The proceeds from the sale of these two pieces of current American automotive history went straight to the benefit of the Juvenile Diabetes Research Foundation (JDRF). After the bidding for the coupe stalled around $150,000.00, Barrett-Jackson, CEO, Craig Jackson and Barrett-Jackson, President, Steve Davis, big against each other with Mr. Davis eventually taking home the concept car for the very reasonable price of $175,000.00.
The third historic Mustang that Ford auctioned off, was lot number 665, a 2010 Shelby GT500 coupe, the very first available for public sale. The hammer price was $150,000.00 and the proceeds above MSRP for the car went straight to the Carroll Shelby Children’s Foundation.
So, how did my “sleeper” predictions go? Pretty well, but judge for yourselves.
1920 Chevrolet Model T – 1 Ton (open cab) chassis truck (Lot # 678) – Sold $37,400.00
1964 ½ Ford Mustang convertible (Lot #347) – Sold $51,700.00
1972 Chevrolet C10 Cheyenne Short Bed pickup (Lot #32) – Sold $35,200.00
1976 Chevrolet C10 Silverado Long Bed pickup (Lot #330.1) – Sold $29,150.00
1994 Pontiac Trans Am 25th Anniversary Edition Convertible (Lot #58) – Sold $37,950.00
1999 Pontiac Trans Am 30th Anniversary Coupe – Daytona 500 Pace Car (Lot #616.1) – Sold $39,600.00
I think my sleepers performed very well considering that the lack of national publicity that other auction cars enjoyed and the current economic situation but they all sold at the high end of their respective value ranges, proving that good quality cars (and trucks) will always command higher prices.
Closing Thought – I believe GM has sold over 200 or so of its Heritage Collection and I hope that this “garage sale” is over soon. On the bright side, I hope that the new owners of these GM refugees allow the cars to see the light of day again and hopefully we can all enjoy them at an upcoming automotive event or car show.
Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market. Attorney Bryan W. Shook is a seasoned automotive collector and restorer and as such brings real world experience and firsthand knowledge to the table for his clients. Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com.
Bid with knowledge. Buy with confidence – Vintage Car Law
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