Hot Rods Booming Among Boomers

SCOTTSDALE, Ariz.--An automobile auctioneer is noticing “a giant surge of interest and sales in hot rods,” based on the recent 30th annual Barrett-Jackson Collector Car Auction. “Muscle cars are hot, but top quality Hot Rods are the hottest,” said President Craig Jackson. “These chopped dream machines were generally out-selling muscle cars, which have been rising in popularity. This is a trend to watch.”

As an example, the 1934 Ford 3-window Coddington Rod was one of the highest priced cars, selling for $130,680.

Billed as the the world’s largest and most anticipated automobile auction, the event, which was held January 18 - 21 to capacity crowds, broke numerous records and provided the collector car market with a peek into the emerging trends that will be seen in the coming year, according to Jackson.

Of the 846 cars consigned to the auction block, a record 88 percent were sold, pushing the total sales volume to an impressive preliminary $25 million. This is the highest sales total in the last decade and one of the largest in the company’s history, said Jackson. The extensive collection and wide variety of vehicles attracted 3,200 pre-qualified bidders, a 63 percent increase over last year’s record.

According to Jackson, “This year’s sale clearly demonstrated buyers are purchasing what they like, which is driving prices up. People are buying quality, well-documented vehicles.” He pointed out that “baby boomers are also buying the cars they grew up with, and are putting them on the road rather than covering them up and locking them away in garages or showrooms. Most of the cars purchased this year will be hitting the streets on a regular basis.”

The most expensive car was a rare 1931 Duesenberg J Murphy Convertible Coupe that sold for $575,000. Driving on the street won’t be the case for the new owner of the 1969 Ford GT-40 MkI race car that went for $432,000. Rounding out the top-tier cars was a 1952 Chrysler d’Elegance Ghia Coupe at $334,800; a 1966 Shelby Cobra 427 Roadster at $297,000; and another 1966 Shelby Cobra 427 Roadster at $245,160.

The oldest car sold was a 1918 Dodge Touring that crossed the block for $12,960, while the newest car, a 2000 BMW Z-8, sold for $178,200. Among some of the other notable cars were: Jerry Seinfeld’s 1957 Porsche Carrera GT Racer was the most expensive Porsche sold, at $92,880, while two-time Indy 500 winner Arie Luyendyk sold his 1999 Ferrari 360 Modena for $151,200. Baseball’s Reggie Jackson commanded $157,680 for a rare 1953 Mercedes-Benz 300 S Cabriolet, and Cecil Fielder’s 1961 Chevrolet Impala SS Convertible brought $49,680.

A special Barrett-Jackson collector's edition Shelby Series 1 that comes painted in Shelby Daytona blue with Wimbledon white strips was constructed in honor of the company’s 30th anniversary. This was purchased by violinist Shoji Tabuchi for $217,080 and will be signed by the car’s namesake, Carroll Shelby.

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