Market Intelligence
Barrett-Jackson and RM Sotheby’s in Florida. Those without reserve win
An article discusses two auctions, one by RM in Fort Lauderdale and another by Barrett-Jackson in Palm Beach, both held in March and April, respectively. RM sold 175 of the 263 cars worth $24,363,000, while Barrett-Jackson sold all 656 lots for a total of $58,672,350, which is twice as much as the previous year. Although the average price wasn't much different between the two auctions, the number of cars sold without reserve was considerably higher at Barrett-Jackson. The article highlights some notable sales, such as the 2020 Ford GT Carbon Series sold for $1,540,000 at Barrett-Jackson and the 1991 Chevrolet Silverado Dale Earnhardt Pickup sold for $165,000. It also mentions the Ferrari 512 BBi from 1984 at RM, with an estimate of $350,000-$400,000, which failed to set a new record.
This is an intense piece, so let’s not get lost in idle chatter and get straight to the point.
To get a feel for the current atmosphere we move to Florida: two auctions, one by RM and the other by Barrett-Jackson, the former in Fort Lauderdale, the latter in Palm Beach, over a total of 5 days. RM, on 25th and 26th March brought 263 cars worth $24,363,000 (€22,377,171) and sold 175 of them for $18,438,750 (€16,935,805). Barrett-Jackson just a couple of weeks later, from 7th to 9th April, offered some 656 lots, all sold for a total value of $58,672,350 (€53,889,965) twice as much as the previous edition in 2019.
