August 26, 2004

Barrett-Jackson plans major enhancements to 2005 auction

Scottsdale, Arizona – The Barrett-Jackson Auction Company confirmed plans for the expansion of their Scottsdale auction for 2005. The auction, held at WestWorld in Scottsdale, Arizona, will now include the addition of a fifth auction day along with additional activities, a new luxury lifestyle pavilion for attendees to enjoy, and the extension of the live TV coverage by SPEED Channel from fifteen to twenty four hours. The annual gala will kick off the auction on Tuesday, January 25. The actual auction dates are January 26th – 30th.

“The fifth day was added to accommodate the increase in demand by consigners and attendees alike,” said Craig Jackson, president of the Barrett-Jackson Auction Company. “This has been considered for the past few auctions, but with the significant increase in attendance and the record results from the 2003 and 2004 events, a 35% increase from year to year, this was the time to add the fifth day.”

Further upgrades at the auction site include an expanded vendor area to accommodate the significant increase in interest from repeat and new sponsors. The company is making the additions in anticipation that the event will exceed the record 185,000 attendees who visited the auction last year. Based on the record results from last year, Barrett-Jackson is expecting another extremely successful auction in 2005.

Each year, the Barrett-Jackson Classic Car Auction in Scottsdale, considered ‘The World’s Greatest Classic Car Auction,’ ranks as one of the most important events to positively impact the Arizona economy. According to a study commissioned by the City of Scottsdale, Barrett-Jackson contributed more than $72 million to the local economy during the January 2004 Barrett-Jackson Classic Car Auction. The event held at WestWorld of Scottsdale surpasses the Arabian Horse Show that had initially been considered the top economic generator.

The Barrett-Jackson Auction Company confirmed the economic viability of investing in classic cars with a record-setting year, which garnered an estimated $38.5 million in sales compared to the $28.5 million record set at the 2003 auction. Of the 762 cars that crossed the auction block during the four-day event, 744 cars were purchased, which translates into a world record 98% sales percentage. The auction is televised live each year on the SPEED Channel television network.

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