June 24, 2002

European sports cars dominate Barrett-Jackson auction

Los Angeles, California – Over 200 classic, collectible, vintage, sports and special interest cars crossed the auction block on Father’s Day weekend during the second annual Barrett-Jackson Auction at The Petersen Museum on June 14 and 15 in Los Angeles.

The classic car auction brought in over U.S.$3.2 million in sales, attracting both seasoned collectors and car enthusiasts. “We are extremely pleased with this year’s auction results,” said Craig Jackson, president of the Scottsdale, Arizona-based Barrett-Jackson Auction Company. “Our second year at The Petersen has seen a significant improvement in all aspects of the auction. We are certainly focused on making this auction a must attend fixture on the collector’s calendar, and we made a big stride towards achieving that this year”

A lengthy bidding battle for the 1957 Chevrolet ‘Chezoom’ resulted in a private collector outbidding the Petersen Museum for the Boyd Coddington built masterpiece. The famous hot rod sold for $183,600. Not to be outdone, the Museum did come away from the auction with a number of cars for their own collection including a stunning fly-yellow 1971 Ferrari Daytona 365GTB/4 which sold for $162,000, the Al Schieb 1957 Plymouth Fury for $32,400, and a 1955 Cobra Motorama Custom Roadster for $56,700.

“Both of our headline cars attracted a lot of pre-auction interest.” said Jackson. “The Tucker that we sold was one of two from the Petersen Museum’s own collection and Chezoom generated a lot of excitement for the event”. The sale of the Tucker for $334,800, the fifth Tucker that the Barrett-Jackson has sold over the years, is the highest price the company has attained for one of these automotive milestones.

The auction highlights included a stunning collection of European sports cars from a private Southern California collector. The cars were all the subjects of a no-expense spared restoration to the highest standards, and were the focus of constant attention before the auction. The outstanding condition of the cars was reflected in active bidding and prices paid that, in some cases, had not been since the late 1980’s. A 1964 Ferrari 250 GT Lusso sold for $209,520, a 1967 Lamborghini 400GT sold for a world record price of $148,500, and a 1962 Jaguar XKE Roadster sold for $87,480.

Other notable sales of the auction were a rare 1962 Porsche Super 90 Roadster for $92,880, and a 1958 AC Ace Roadster for $68,000.

Barrett-Jackson Auction Company’s next event is its legendary car auction in Scottsdale, Arizona. With more than 800 cars crossing the block over four days, this event is considered the pre-eminent classic car auction attracting over 150,000 attendees. The 32nd Annual Barrett-Jackson Classic Auction will be held January 15-19, 2003.

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