Barrett-Jackson is an American auction company in Scottsdale, Arizona. The company specializes in the auction of classic cars and antique cars, and runs collector events in Scottsdale, Palm Beach, Florida, Uncasville, Connecticut and Las Vegas, Nevada.
History
1967 Corvette L88 Sells for $3.5 Million at Barrett-Jackson Scottsdale - Barrett-Jackson: Only 20 L88 Corvettes were built, and only one in this color. The ultimate in American collector cars, this Corvette sells for $3.5 million.
Russ Jackson and Tom Barrett organized the original auction in Scottsdale, Arizona. Jackson met Barrett through an interest in Barrett's 1933 Cadillac V-16 town car. In 1967, Barrett and Jackson presented a car show called "Fiesta de los Autos Elegantes," a fund-raiser for local charities, including the Scottsdale Library. Then in December, 1971, the two jointly presented a classic car auction, when they auctioned two Mercedes-Benz 770K Phaetons that formerly served as German dictator Adolf Hitler's staff cars. One of the Phaetons more than tripled the previous auction record, selling for $153,200.
Jackson died in 1993, and Barrett in 2004. Russ Jackson's son, Craig Jackson, who had worked actively on a daily basis throughout the years and on-site at the event, took over running the company in 1995, the same year the auction began airing live on the Speed television channel. Internet bidding was also introduced at that time.
Starting at the third annual Palm Beach auction in 2005, the show was renamed from "Barrett-Jackson Classic Car Auction" to "Barrett-Jackson Collector Car Auctions," followed by the name change in the Scottsdale, Arizona auction in 2006.
Beginning in 2008, a Barrett-Jackson auction was produced in Las Vegas.
From 2010 to 2012 a Barrett-Jackson auction was held in Orange County, California. However, on January 19, 2013, Barrett-Jackson announced it would move from Orange County to Reno, Nevada as part of the city's Hot August Nights event in August 2013. A Barrett-Jackson auction was held in Reno, Nevada until 2015.
On September 26, 2015, Barrett-Jackson announced that for the first time ever, they would have an auction in the Northeast at Mohegan Sun in Uncasville, Connecticut. The inaugural auction took place June 23â€"25, 2016, with the auction block being located inside the Mohegan Sun Arena.
During the 2018 Scottsdale Auction, where 10 charity vehicles were sold, Barrett-Jackson surpassed $100 million in total funds raised for charity through its platform, reaching just over $102 million. Former U.S. President George W. Bush joined Barrett-Jackson for the sale of the first production 2018 Chevrolet Corvette Carbon 65 Edition (Lot #3007), marking the first appearance by a former president at a Barrett-Jackson event.
Auction
Although it is billed as a collector car auction, other items are also sold, including trucks, motorcycles, airplanes, engines, boats and other memorabilia. Major car manufacturers, including Ford and General Motors, have sold several of their first production vehicles of a given model and generation combination, in charity format.
Celebrities who have attended the event - some putting their own vehicles up for auction - include Justin Bieber, Floyd Mayweather Jr., Sharon Stone, William Shatner, Muhammad Ali, Sammy Hagar, Michael Anthony, Michael Bay, Jay Leno, Alice Cooper, Gene Simmons & Shannon Tweed, Burt Reynolds, Steven Tyler, Zac Brown Band, David Spade, Tim Allen, Billy Corgan of the former Smashing Pumpkins, Criss Angel, Dale Earnhardt Jr., Jeff Gordon, baseball players Reggie Jackson and Randy Johnson, Justin Morneau, DMX, Carroll Shelby, Bill Goldberg, Tony Stewart, and motorcycle customizer Jesse James.
Scottsdale, Arizona
The company's Scottsdale auction has expanded over its 47-year history and in 2018 ran for nine days, including seven days of vehicle and automobilia auctions, more than 1,700 vehicles, the Opening Night Gala, Family Value Day, Ford Ride 'N Drives, Chevrolet Hot Laps and Dodge Thrill Rides. The auction draws over 325,000 spectators at WestWorld, where the event has been held since 1989. The 2018 Scottsdale also welcomed nearly 5,200 bidders from all 50 states and 13 foreign countries worldwide. The ultimate automotive lifestyle event also provides over 70 food vendors and hundreds of exhibitors.
Scottsdale auction sales
Notable sales at the Scottsdale auction have included:
Palm Beach, Florida
In 2003, Barrett-Jackson added a second annual event in Palm Beach, Florida. The auction draws over 50,000 visitors, and approximately 500 vehicles cross the auction block each spring. The event is held for three days at the Americraft Expo Center at the South Florida Fairgrounds and includes auction, ride 'n drives, demonstrations, sponsors and vendors.
Palm Beach auction sales
Notable sales at the Palm Beach auction have included:
Las Vegas, Nevada
In 2008, Barrett-Jackson added a Las Vegas event at the Mandalay Bay Resort & Casino. The inaugural Las Vegas included 533 collector vehicles, over 50,000 attendants and nearly $30 million in total sales over 3 days. Over 16 hours of live coverage was broadcast on the Speed channel. In 2009, the second annual Barrett-Jackson Las Vegas event had over 51,000 visitors and over $23 million in total sales for 428 vehicles. The Speed channel showed 19 hours of the auction.
Las Vegas auction sales
Notable sales at the Las Vegas auction have included:
Uncasville, Connecticut
In 2013 the Orange County, California auction was moved to Reno, Nevada. After three years, the Reno auction was moved to Mohegan Sun Resort and Casino in Uncasville, Connecticut in 2016. The inaugural "Northeast Auction" at Mohegan Sun took place June 23â€"25, 2016 and was the first double sellout in company's 45-year history. The auction recorded more than $26 million in sales and set an attendance record at Mohegan Sun with more than 90,000 auction guests. Automobilia sales reached $755,000, a new record for a non-Scottsdale auction, and had six charity vehicles cross the block that helped raise $605,000 for charity.
The second annual Northeast Auction took place June 21â€"24, 2017.
Northeast auction sales
Notable sales at the Northeast auction have included:
Broadcasting
From 1997 through 2013, Barrett-Jackson's auctions were televised by Speedâ€"a relationship dating back to its launch as Speedvision. Its first year featured highlights of the event, but due to popular demand, coverage was expanded into a six-hour live broadcast in 1998, and expanded even further in the years following. The auction's presence on Speedvision continued through its acquisition by Fox Sports and its re-branding as Speed Channel. Following the closure of Speed and its replacement with Fox Sports 1, coverage was spread across several Fox-owned channels, including but not limited to FS1, Fox Sports 2, Fox Business Network, National Geographic Channel, and at the Scottsdale auction in 2013, the over-the-air Fox network as well, from 2013 through 2015.
In 2015, broadcast rights to the events were acquired by Discovery Communications, and coverage moved to Discovery Channel and Velocity beginning with the 2015 Scottsdale auction. Chris Jacobs of Overhaulin' and Ray Evernham of Velocity's AmeriCARna became the main on-air hosts, joined by Rick DeBruhl, Mike Joy, and Steve Magnante as analysts.
At the 2018 Scottsdale Auction, Barrett-Jackson once again set a new mark with five hours of unprecedented coverage live in prime-time on Discovery Channel, Wednesday, January 17. On January 16, in anticipation of "Super Saturday," Discovery Communications announced it would simulcast Velocity's broadcast on Saturday, January 20, for six hours on Discovery Channel. Velocity was on air live from 1:00 p.m until 10:00 p.m. MST with Discovery Channel simulcasting the broadcast live from 4:00 p.m. until 10:00 p.m. MST. In total, Discovery Communications broadcast 37 hours of the 2018 Scottsdale Auction live on Discovery and Velocity, as well as internationally across the Discovery Communications networks, including Velocity Canada and Discovery Turbo U.K.
Charity work
Charity is considered to be one of the pillars of Barrett-Jackson, dating back to the "Fiesta de los Autos Elegantes," a charity car show put on by Barrett and Jackson before forming the auction company in 1971. During the 2018 Scottsdale Auction, after the sale of 10 charity vehicles, Barrett-Jackson surpassed $100 million in funds raised for charity through to date through the company's renowned platform. Among the highlights from the event were four charity vehicles on "Super Saturday," January 20, including the $1.4 million sale of the first production 2018 Chevrolet Corvette Carbon 65 Edition (Lot #3007). Former U.S. President George W. Bush, the first former president to join Barrett-Jackson on the auction block, was in attendance for the sale with 100 percent of the hammer price benefiting the George W. Bush Presidential Center Military Service Initiative. The company also kicked off its first yearlong charity initiative - "Driven Hearts" - and raised over $350,000 to benefit the American Heart Association during the auction, including the sale of Carolyn and Craig Jackson's personal 1988 Corvette 35th Anniversary Edition (Lot #3008). Capping off the 10 charity vehicles was a 2017 Ford GT (Lot #3010), the first current model Ford GT available at public auction, which raised $2.55 million with 100 percent of the sale benefiting The Autism Society of North Carolina's IGNITE Program and the Autism Alliance of Michigan. The 10 charity vehicles at the 2018 Scottsdale Auction raised $6.21 million for charity, bringing Barrett-Jackson to just over $102 million total raised for charity throughout the company's history.
Driven Hearts
On January 9, 2018 at Barrett-Jackson's 2018 Scottsdale Media Day, the company announced details of its first ever yearlong charity initiative. The Driven Hearts initiative, benefiting the American Heart Association (AHA), kicked off at the 2018 Scottsdale Auction and will help raise money and bring awareness to promote heart health throughout the year. In addition to the sale of Carolyn and Craig Jackson's 1988 Corvette 35th Anniversary Edition, the initiative includes the first state-issued Barrett-Jackson themed license plate through the Arizona Department of Transportation, Motor Vehicle Division (ADOT-MVD). The plates cost $25, with $17 of each sale benefiting AHA. Additional aspects of the Driven Hearts initiative include Barrett-Jackson’s partnership with Hotels for Hope, which enables fans traveling to Barrett-Jackson events to book rooms through Barrett-Jackson.com, with a portion of every actualized hotel room night booked going to the AHA. Barrett-Jackson drivers will also be sporting the “Driven Hearts†logo on their shirts, and auction attendees will notice the acronym “FAST†(Face drooping, Arm weakness, Speech difficulty, Time to call 911) around the Barrett-Jackson event sites, as a way of bringing attention to the warning signs of stroke.
Some of the charities that have benefited from Barrett-Jackson's efforts are The ChildHelp Foundation, TGen, The Darrell Gwynn Foundation, Juvenile Diabetes Research Foundation, The National MS Foundation, The Carroll Shelby Children’s Foundation, The Hendrick Marrow Foundation, MLB Charities, The Boy Scouts of America, the EAA Young Eagles, and St. Jude's.
Company auction records by year
Scottsdale, Arizona
Palm Beach, Florida
Las Vegas, Nevada
- Total price exceeds top bidding price after buyer premium
Orange County, California
Reno, Nevada
Automobilia
In 2018, Barrett-Jackson sold over 1,100 pieces of automobilia (automotive-related memorabilia) for more than $3.7 million, including a full-size transportation-themed carousel manufactured by Wilhelm Hennecke of Germany in 1957 for $557,750.
Top 10 Scottsdale Auction Automobilia sales:
Note: Top 10 sales from 2007-2018 at the Barrett-Jackson Scottsdale Auction
Co-branding and licensing
In 2008, Sherwin-Williams and Barrett-Jackson launched a line of auto paint under the Planet Color brand. The line of 25 colors was sold in NAPA and Sherwin-Williams stores. Branded merchandise and apparel are also licensed, as well as novelties and die-cast toy automobiles.
Lawsuits
At the 2007 Scottsdale auction, after the last authenticated Ramchargers (a former drag racing team that had been staffed by Chrysler Corporation employees) race car had been sold for $300,000, owner David Clabuesch accused the auction company of ending the auctioneering prematurely, resulting in a lower than expected sale price. After the sale, Barrett-Jackson sued Clabuesch for "outrageous and defamatory actions," including chaining the car's wheels at the auction tent and putting up a sign calling its sale "void". On January 10, 2008, Barrett-Jackson announced a settlement had been reached three days earlier. In the settlement, Clabuesch exonerated Barrett-Jackson of all allegations of wrongdoing in relation to a situation that occurred at the company’s Scottsdale event in January 2007.
2007 Sports Car Market dispute
During the 2007 Scottsdale auction, Keith Martin, editor of Sports Car Market and a former member of Speed Channel's on-air commentary team for the auction, was ejected from the auction by Barrett-Jackson. At the time Martin was ejected, Sports Car Market had run unfavorable editorials about the state of the collector car industry and whether some cars were worth the high dollars being spent on them but not mentioning Barrett-Jackson or any other firm by name. During the auction Martin allegedly made comments about company business practices and the quality of cars sold; according to Barrett-Jackson, he told people in the media center to leave B-J and attend the auction of a competitor. He was also dropped as a SPEED TV network commentator, at the request of Barrett-Jackson.
See also
- Auction theory
- Auto auction
- Antique car
- Classic car
- Game theory
- Online auction business model
- Winner's curse
- Most expensive cars sold in auction
References
External links
- Barrett-Jackson Auction Company homepage