Barrett-Jackson held their 2011 Las Vegas auction on September 22-24 at the Mandalay Bay Resort and Casino in Las Vegas, Nevada, resulting in gross sales in excess of $24 million.
The 4th annual Barrett-Jackson Las Vegas auction saw 580 vehicles sold, a record for Las Vegas, in addition to a 97% sell-through rate, the highest since Barrett-Jackson reinstituted a hybrid auction model with both reserve and no reserve consignment options. A total of 60,000 people attended the events, the highest number for a Las Vegas auction, while merchandise sales increased 25% from 2010.
“Results from the Las Vegas auction demonstrate that the collector car market is incredibly strong within all segments of the hobby, despite an uncertain global economic climate,” said Craig Jackson, chairman and CEO, Barrett-Jackson. “In addition to the impressive sales numbers, Barrett-Jackson continues to lead as the collector car auction for all audiences with compelling charitable moments, celebrity appearances and activities for everyone — all under the neon glow of the Las Vegas Strip at the beautiful Mandalay Bay Resort and Casino.”
The 1964 Ford Fairlane 500 (Lot #6400) was the top selling vehicle, garnering $700,000 on Saturday night. Following the Fairlane in top sales was the first 2012 Camaro ZL1 (Lot #674.3) offered to the public, with a sale price of $250,000.
Barrett-Jackson Las Vegas 2011 – Top Five Auction Results
Lot #6400 – 1964 Ford Fairlane 500 – $700,000
Lot #674.3 – 2012 Camaro ZL1 – $250,000
Lot #675 – 2009 Raptor GTR Prototype Mosler – $240,000
Lot #370.1 – 1971 Plymouth ‘Cuda Custom 2 Door Hardtop – $200,000
Lot #668 – 1968 Shelby GT500 Convertible – $160,000
During the Las Vegas auction, Barrett-Jackson helped raise nearly $1,400,000 for local and national charitable organizations. Barrett-Jackson waived all fees and commissions on charity vehicles, encouraging auction participants to maximize their bids. The $700,000, 1964 Ford Fairlane, owned by Barrett-Jackson President Steve Davis was the top performing charity car that included a moving tribute to members of the armed forces live on SPEED. All proceeds were donated to the Armed Forces Foundation. Other charities involved in this year’s auction included the Arkansas Children’s Hospital Austin Hatcher Foundation, Darrell Gwynn Foundation and YMCA of Southern Nevada.
Barrett-Jackson next returns to Arizona for their 41st annual auction, scheduled for January 16 – 22, 2012 in Scottsdale. For more information, visit www.barrett-jackson.com or call (480) 663-6255.