The collective classic car community held its breath in anticipation of this past January’s Barrett-Jackson Classic Car Auction in Scottsdale, Arizona. Many experts felt that this annual event would set the financial tone for the balance of the collector car market in 2002.
When the gavel fell on the last of nearly 800 cars that crossed the block, a sigh of relief went up as the sale boasted an 86% sale ratio and total sales of $26.9 million.
On the whole, racecars did not fair too well, though a 1966 Ford GT40, used in the filming of the movie, “Grand Prix,”sold for $405,000, while a 1964 Ferrari 250 GT Lusso Comp. coupe sold for $189,000. According to Barrett-Jackson president Craig Jackson, “Our bidders showed us they are prepared to pay top, and in some cases, world record prices for the very best quality cars.”
