On Track to Exceed Previous Year's Record; Barrett-Jackson Classic Car Auction Experiences Flood of Buyer and Seller Registrations

    SCOTTSDALE, Ariz.--Oct. 9, 2002--Collector car enthusiasts are demonstrating their confidence in the market by clamoring to register for the 2003 Barrett-Jackson Classic Car Auction with consigners and bidders ahead of last year's record pace.
    As of this week, a total of 330 cars have met Barrett-Jackson's stringent criteria and have been officially accepted for the auction from the many hundreds of cars that are being offered for consideration. These consigned cars represent a broad cross section of American and European classic and sports cars as well as custom-built hot rods and rare muscle cars. A total of 800 cars will be accepted for the 2003 Auction.
    Of the cars currently consigned 83 percent are entered at No Reserve. The early volume of consigners selling at No Reserve demonstrates the exceptional confidence level sellers have with Barrett-Jackson's proven ability to draw a large number of high caliber buyers.
    Confirming this is the fact that early registered bidder applications are also ahead of last year. To date the number of pre-registered bidders qualified for the 2003 auction is up 65 percent from the previous year.
    "Quite simply these numbers suggest that our customers enthusiasm for collector cars is not being dampened by current economic conditions," said Craig Jackson, president of Barrett-Jackson Auction Company. Jackson continues, "Car collectors continue to recognize the value of buying classic cars that appreciate over time." According to Jackson a further encouraging sign is the tremendous number of No Reserve sellers. Selling a car at No Reserve is a "huge leap of faith" for the car owner and the significant number of cars already listed at No Reserve indicates the sellers' confidence in Barrett-Jackson's performance.
    Barrett-Jackson's three-decade plus reputation in achieving record-breaking prices is legendary. Industry veterans and Barrett-Jackson participants know that true car experts manage the renowned Auction Company.
    Craig Jackson has an innate understanding of the balance necessary for a successful auction. Jackson and his staff consider a number of factors that include thorough assessments of the cars being consigned, market demand for particular makes and models, the necessity to offer a diverse selection of cars and the need to stay abreast of buyer and seller trends.
    Year after year Barrett-Jackson prevails as the barometer of the industry and lives up to its reputation as "The World's Greatest Classic Car Auction." In spite of economic conditions, last year's auction exceeded the previous year's record-breaking auction by pushing the total sales volume to an unprecedented $26.9 million with 86% of the lots being sold.

    The Barrett-Jackson Auction Company hosts some of the most anticipated automotive auctions in the world. Historically "The World's Greatest Classic Car Auction" in Scottsdale attracts the highest quality automobiles, commands the best market prices and serves as the barometer for classic and collector car values. In addition to the 32nd annual auction scheduled for January 16 through 19, Barrett-Jackson Scottsdale hosts a week of automotive and lifestyle events that draw people from around the world. The dates for Barrett-Jackson Week are January 12 through 19.
    Presented by Dodge-Chrysler-Jeep, the auction at Barrett-Jackson Scottsdale will be aired live on the SPEED Channel television network. Check local listings for times. For more auction information visit www.barrett-jackson.com