Market Intelligence
Scottsdale. Everybody wins. The Market wins
This article discusses the recent Arizona Week, which is known for its annual automobile auctions in Scottsdale. Due to the pandemic, some events were postponed and others had to make changes to their approach. Gooding organized an online-only auction, Bonhams had a physical sale, RM moved to a new location, and Worldwide organized their auction online. The article compares the sales figures and approaches of each auction house, declaring RM the winner due to a higher turnover despite offering only half the number of cars. The article also offers insights into the market and provides examples of cars that were sold at the auctions.
Scottsdale has always been the epicentre of the January auctions, but this year, due to Covid-19 there was a revolution during Arizona Week. Some events such as the much-anticipated Barrett-Jackson auction were postponed and those that were held took four very different approaches.
Gooding organized a “Scottsdale Edition” online-only auction, Bonhams remained faithful to the cause with a physical sale in the Westin Kierland Resort, just like last year, RM decided to put on a physical event but changed locations and selected the ultra-trendy Otto Car Club (well worth knowing!), while Worldwide organized their online auction from its headquarters in Auburn, Indiana.
