Arizona results fall short of 2023 totals–but there’s a catch

Photograph Courtesy Barrett-Jackson

Consider the results of the 2024 Arizona auctions a good news/bad news situation. Let’s start with the bad news first.

According to Hagerty, the approximately $244.8 million total brought in by the end of the week’s auctions is below 2023’s total of 262.6 million.

The good news? Although the sell-through rate for the cars in the upper end of the market was lower, the cars that did sell often set records. Furthermore, Hagerty reports that 65% of cars priced at $500,000 or more sold above their condition-appropriate Hagerty Price Guide values–an increase from 53% in 2023.

Long-term trends do seem to point toward a cooling market and the behaviors of buyers have largely made their way back to normal, according to Hagerty.

The heat may have come off the market, but that's not necessarily bad news. Enthusiasts who felt like they were being priced out of the market can now get their feet back in the water,” Dave Kinney, publisher of Hagerty Price Guide, observed. “End users appreciate that stability,” he added.

2024 Arizona auction results are as follows:

  • Cumulative Total for all auctions through Sunday: $244.8M
  • 2,375/2,724 lots sold: 87% sell-through rate
  • Average Sale Price: $103,083

Overall Top 10 Sales from All Auctions through Sunday:

  1. 2022 Bugatti Chiron Super Sport Coupe sold for $5,175,000 (Bonhams)
  2. 1956 Mercedes-Benz 300SL Gullwing Coupe sold for $3,410,000 (Barrett-Jackson)
  3. 2018 Bugatti Chiron Coupe sold for $2,970,000 (Barrett-Jackson)
  4. 1937 Mercedes-Benz 540K Cabriolet sold for $2,420,000 (Barrett-Jackson)
  5. 2020 McLaren Speedtail Coupe sold for $2,012,500 (RM Sotheby's)
  6. 2005 Porsche Carrera GT Coupe sold for $1,870,000 (Barrett-Jackson)
  7. 2015 Porsche 918 Spyder sold for $1,787,500 (Barrett-Jackson)
  8. 2012 Lexus LFA Nürburgring Coupe sold for $1,650,000 (Barrett-Jackson)
  9. 1938 Mercedes-Benz 540K Sindelfingen Cabriolet B sold for $1,545,000 (RM Sotheby's)
  10. 1936 Bugatti Type 57 Atalante Coupe sold for $1,380,000 (Bonhams)

 

Barrett-Jackson

  • Cumulative Total through Sunday: $200.3M
  • 1,990/1,990 lots sold: 100% sell-through rate
  • Average Sale Price: $100,649

Overall Top 10 sales:

  1. 1956 Mercedes-Benz 300SL Gullwing Coupe sold for $3,410,000
  2. 2018 Bugatti Chiron Coupe sold for $2,970,000
  3. 1937 Mercedes-Benz 540K Cabriolet sold for $2,420,000
  4. 2005 Porsche Carrera GT Coupe sold for $1,870,000
  5. 2015 Porsche 918 Spyder Roadster sold for $1,787,500
  6. 2012 Lexus LFA Nurburgring Coupe sold for $1,650,000
  7. 2019 Ford GT Coupe sold for $1,375,000
  8. 2017 Ferrari F12tdf Coupe sold for $1,347,500
  9. 1967 Chevrolet Corvette Convertible sold for $1,100,000
  10. 1997 Lamborghini Diablo VT Roadster sold for $1,100,000

 

RM Sotheby's

  • Cumulative Total: $22.9M
  • 62/84 lots sold: 74% sell-through rate
  • Average Sale Price: $369,962

Overall Top 10 Sales:

  1. 2020 McLaren Speedtail Coupe sold for $2,012,500
  2. 1938 Mercedes-Benz 540K Sindelfingen Cabriolet B sold for $1,545,000
  3. 1963 Ferrari 250 GT Lusso Coupe sold for $1,352,500
  4. 1963 Shelby Cobra 289 W&S Roadster sold for $1,215,000
  5. 2021 Ford GT Mk II sold for $1,006,000
  6. 1965 Aston Martin DB5 Coupe sold for $797,000
  7. 1957 Porsche 356A Outlaw Coupe sold for $747,500
  8. 1984 Audi Quattro Sport Coupe sold for $665,000
  9. 1972 Ferrari 365 GTB/4 Daytona Coupe sold for $632,000
  10. 1965 Lamborghini 350 GT Coupe sold for $632,000

 

Bonhams

  • Cumulative Total: $12.0M
  • 68/85 lots sold: 80% sell-through rate
  • Average Sale Price: $176,522

Overall Top 10 Sales:

  1. 2022 Bugatti Chiron Super Sport Coupe sold for $5,175,000
  2. 1936 Bugatti Type 57 Atalante Coupe sold for $1,380,000
  3. 1970 Maserati Ghibli Spyder sold for $596,250
  4. 1973 Ferrari Dino 246 GTS Spider sold for $431,250
  5. 1936 Packard Twelve-Series 1407 Coupe Roadster sold for $351,500
  6. 1966 Aston Martin DB6 Mk I Saloon sold for $268,800
  7. 1965 Aston Martin DB6 Mk I Saloon sold for $232,400
  8. 1939 BMW 327/328 Cabriolet sold for $206,080
  9. 2010 Ferrari 599 GTB Fiorano Coupe sold for $198,800
  10. 1962 Mercedes-Benz 190SL Convertible sold for $184,800

 

Worldwide Auctioneers

  • Cumulative Total: $5.6M
  • 63/97 lots sold: 65% sell-through rate
  • Average Sale Price: $88,168

Overall Top 10 Sales:

  1. 1961 Mercedes-Benz 300SL Roadster sold for $1,215,000
  2. 2009 Lamborghini Murcielago LP640 Roadster sold for $346,000
  3. 1940 Packard Custom Super Eight Darrin Convertible Sedan sold for $335,000
  4. 2004 Lamborghini Murcielago Roadster sold for $250,000
  5. 1968 Shelby GT500 Fastback sold for $220,500
  6. 1959 Cadillac Eldorado Biarritz Convertible sold for $207,200
  7. 1971 Plymouth Cuda Hardtop Coupe sold for $159,600
  8. 2007 Ferrari 599 GTB Fiorano Coupe sold for $156,800
  9. 1963 Porsche 356B (T6) 1600 Super Cabriolet sold for $134,400
  10. 1964 Sunbeam Tiger Mk I Convertible sold for $134,400

 

MAG Auctions

  • Cumulative Total: $4.0M
  • 192/468 lots sold: 41% sell-through rate
  • Average Sale Price: $21,012

Overall Top 10 Sales:

  • 1967 Ford Mustang Fastback sold for $69,120
  • 2013 Mercedes-Benz G63 AMG Sport Utility Vehicle 4x4 sold for $59,400
  • 1971 Dodge Challenger R/T Hardtop Coupe sold for $58,320
  • 1971 Chevrolet Chevelle SS sold for $57,240
  • 1968 Ford Mustang GT Fastback sold for $56,160
  • 1970 Pontiac GTO Convertible sold for $56,160
  • 2011 Ford F-350 Super Duty Pickup sold for $55,080
  • 1968 Chevrolet Chevelle SS Sport Coupe sold for $52,380
  • 1978 Pontiac Firebird Trans Am Hardtop Coupe sold for $50,760
  • 1970 Chevrolet C10 1/2 Ton Pickup sold for $49,680
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