25th Barrett-Jackson Classic Car Auction Provides Surprises

January 25, 1996, Scottsdale, AZ, USA.....A Silver Anniversary celebration drove this year's Barrett-Jackson Classic Car Auction as auction-goers were treated to four days of unexpected thrills. >From a $15,000 coin toss deciding the sale of a car to a bidding war over a 1953 Cadillac Eldorado, the 25th Annual Barrett-Jackson Auction lived up to its promise. "Our focus this year was to have fun," states Craig Jackson, managing partner of the Barrett-Jackson Auction Company. "We went all out to provide excellent customer service for our collectors and guests and create an upbeat atmosphere so that everyone would have a good time."

Closing its milestone Silver Anniversary on Sunday, January 21,1996, the Barrett-Jackson Classic Car Auction ended with a 55% sales rate, more than $16 million in sales, a record-breaking 1,400 registered bidders and over 80,000 attendees. "Our crowds were enormous this year. On Saturday alone, about 35,000 people came out to the auction," Jackson stated. "The Barrett-Jackson is not just the barometer for the industry; it's the meeting place for the collector car world." Auction organizers soon found that enthusiastic crowds and eager bidders set the stage for spontaneous excitement.

One rousing sale involved a 1963 Shelby Cobra, a reluctant owner and a $15,000 coin toss. It was Saturday night of the auction, the tent was packed shoulder to shoulder, and the owner of the Shelby Cobra on the block wanted the auction to forgo its commission on the sale, which was at $15,000. It was agreed that a coin flip would decide. If the auction won, the Cobra sold for $212,500 and the owner would pay the commission. If the owner won, the car would sell for $212,500, but he would keep the

$15,000. Auction partner Don Williams flipped the coin, and it came down on the side of the owner. "Although we lost $15,000, it was a fun sale and the crowd loved it," Craig Jackson said. "Everyone in the tent was yelling and chanting. They even gave us a standing ovation after the sale."

Another unexpected but memorable moment occurred with the sale of a 1953 Cadillac Eldorado. During its sale, a bidding war broke out that created a frenzy of activity under the tent. At one point, two bidders were stalled at $100,000 for the classic Cady, and taunting each other with $500 incremental bids. Williams convinced the bidders that $5,000 increments were in order. Going from one bidder to the other, Williams persuaded the hopeful buyers that the other wouldn't match a higher bid. The Cadillac finally sold for a stellar $135,000.

Sales such as these always create excitement; however, for the 1996 Barrett-Jackson Classic Car Auction, it was just one in a number of thrilling transactions. The Barrett-Jackson's Exposition Tent provided just as many impassioned decisions off the auction block. Of the Exposition cars, two Duesenbergs and a Ferrari were the top sellers. A 1929 Duesenberg J-Murphy Roadster went for $650,000, while a 1933 Duesenberg Rollston Convertible sold for $850,000 and a beautiful red 1961 Ferrari California Spyder traded for $800,000.

Of course, all of these prices could be dwarfed in comparison to the amount that the 1931 Bugatti Royale Type 41 Binder Coupe de Ville may bring. The Bugatti Royale, possibly the world's most valuable car, was the centerpiece of the Exposition Tent and is valued at $15-20 million. "The exposition cars take time to sell. Collectors aren't as reactionary as they are for cars on the block; they want to take their time deciding," states Williams.

Sometimes additional deciding time is also required for cars that cross under the hammer of the auctioneer. Nearly 75 cars were sold after they went across the block in the continuation sale lot. "It's all a part of finding the right cars for the right people, which is what we do," Williams said. "Our continuation sale lot worked really well this year, and we appreciate the cooperation the sellers gave to the auction sales staff in selling these cars."

Some of the highlight cars that sold on the block at the 1996 Barrett-Jackson Classic Car Auction included a 1971 Ferrari 365 GTS-4 Daytona Spyder that went for $345,000, a 1967 Ferrari 275 GTB-4 Berlinetta that sold at $240,000, a 1930 Cadillac V-16 Convertible Coupe that traded for $165,000 and a rare 1948 Tucker that brought $235,000.

Big Steel era cars also brought top dollars on the block. One 1958 Chevy Impala Convertible sold at $51,000, while a 1963 Chrysler 300F Convertible changed hands at $56,000. In addition, Corvettes again came in with impressive sales of $58,000 for a 1967 435 Roadster and $34,500 for a 1963 Corvette Convertible.

The classics crossing the auction block weren't the only pulse-pounders at this year's auction. For a second year, Chrysler Corporation's spectacular display of cars from the past, present and future in the highly-popular Chrysler Pavilion captivated thousands of car enthusiasts. "Chrysler Corporation was proud to be the Presenting Sponsor of the Barrett-Jackson Auction for a second consecutive year. This auction gives us the chance to showcase our latest technology, while tracing our past and automotive trends through a tremendous collection of classics," states Andy Agosta, Special Projects Executive in Marketing Operations at Chrysler Corporation.

As the gavel came down on the last car to go across the block, the 25th Annual Barrett-Jackson Classic Car Auction presented by Chrysler Corporation ended on a sentimental note. This year's auction was dedicated to Brian Jackson, who died last year at age 49. As a partner in the auction company, Brian was instrumental in its success. "Brian enjoyed life and knew how to have a good time. We wanted this year's auction to honor him by not focusing on his death but rather on his love for living. I think he would have been proud of this year's success," said his brother, Craig Jackson.