CANADIAN CLASSICS RING THE BELL AT RECORD-SETTING AUTO AUCTION
Gordie Abougoush shipped his loaded 1970 Chevelle convertible with an interesting history to the Barrett-Jackson Auction in Scottsdale, Ariz. The Kelowna body shop owner wanted maximum exposure for his highly optioned classic muscle car.
“I am hoping to get $200,000 for the car which I restored. I have touched every nut and bolt on that car and it is a very high-point restoration,” he said on the day his car was to cross the auction block in prime time.
This year's flagship Barrett-Jackson auction has attracted record crowds and registered bidders with people watching the auction on television and on the internet from all over the world.
The white Chevelle with black racing stripes and red interior was one of three built by General Motor for use at the 1970 Can-Am Race Series in Edmonton. When the races were over, the cars were sold by a Calgary dealership for $3,000 each. The Chevelle was hammered down on the auction block for US$165,000 (including buyer's fee).“It's less than I had hoped for,” Abougoush admitted. “I guess bidders didn't appreciate the Canadian history. But I got to enjoy the car for 10 years and that is worth a lot.”
A Colonial White 1956 Thunderbird with a peacock blue and white interior that was restored in Vancouver was featured twice on the live television broadcast and hit record territory, selling for US$74,000 plus a 10 per cent buyer fee. That is almost $110,000 Canadian.
Prices soared for classic SUVs like Ford Broncos and Chevy Blazers. Cadillac convertibles of the '50s and '60s drew high bids and went into record territory with a gleaming black 1957 convertible that had travelled just 50,000 kilometres selling for US$175,000 plus buyer fee.
Cars with amazingly low original mileage were big sellers at the auction, many of them consigned by the Boyd Collection of North Carolina. Those included a black 1955 Chevrolet BelAir hardtop with 24,000 km, 1955 Thunderbird with 40,000 km, 1973 Mustang convertible with 5,000 km, a 1989 Mercedes 560SL convertible with 5,000 km and a lineup of 1960s Cadillac convertibles with mileage ranging from 13 to 18,000 selling for up to US$100,000 plus buyer's fee. The weeklong auction held the last week of January followed the larger Mecum Auction in Kissimmee, Fla., which broke many price records including a 1970 Pontiac GTO Judge convertible that sold for US$1.1 million.
Muscle cars like the 1970 Dodge Challengers with big engines were hot sellers. There were bargains to be had with restored and modified pickup trucks, as they have become so popular the auction was flooded with classic Chevrolet C10 and Ford F150 pickups from the '50s through the '80s. Beautiful examples ranged from US$30,000 to US$100,000. It was the classic Ford Broncos and Chevy Blazers that hit the high notes, restored and modified. One 1960s Bronco sold for US$200,000.
At a seminar for future collectibles held during the auction, Seth Burgett of Gateway Broncs reported that his Illinois-based shop is building a classic Bronco for a customer with a budget of $1.1 million.
Seventy per cent of new Jeeps are purchased by women and classic Jeeps are increasing in popularity with both male and female buyers.
Pro touring cars and restomods continue to be the rising stars in the collector car world with classics including Corvettes, Mustangs, Mopar muscle cars and others built with a contemporary look leading the pack.
“People want to drive their classic cars and the modified classics are appealing to new people,” Burgett says. “There are a ton of Bronco builders now building bespoke customs with an average $650,000 order.”
At a seminar predicting future collectibles held during the auction, panelists said the ones to watch include Japanese collectibles such as Toyota Supras from the 1990s and early Honda Civic hatchback models along with early Toyota 4-Runner SUVs.
Others slated for big gains include Audi R8 sports cars, Dodge Hellcat muscle cars with 707 horsepower and Ford Lightning pickup trucks.