Autos At Auction: Square Deals on Hot Wheels

Christian Gulliksen

04/02/2002

Like swallows to capistrano, automotive aficionados have for the past 31 years made the journey to Scottsdale, Ariz., for the Barrett-Jackson Collector Car Auction. At this year’s sale, a number of race cars, both original and continuation, went on the block—and, as pointed out in Jan Morgan’s article (page 20), the price differential between the two can be dramatic.

1966 Ford GT40 MK 1A 1966 Ford GT40 MK 1 sold for $405,000. (Click image to enlarge)

A brace of replica Shelby Cobras brought $16,250 and $30,000, respectively, while a pair of authentic 1967 Shelby Cobra 427 roadsters brought $195,000 and $210,000, which is consistent with sales prices from recent years. As Sports Car Market Magazine (www.sportscarmarket.com) observed in 1998, “427 Cobras…have been bumping along in the $200,000 range.” This figure matches NADA (National Automobile Dealers Association) estimates for average retail values.

Two Jaguar D-Type replicas were on offer this year; both reached high bids of $65,000, but only one sold. Contrast that with recent, authentic D-Type sales, which, depending on provenance and condition, may cost anywhere from $650,000 to $1 million. These mirror current NADA values.

A Porsche 550 Spyder replica sold for $39,000. Original 550s carry a much heftier price tag, with most examples in the last few years selling on either side of $400,000.

An original 1966 Ford GT40 MK I Coupe sold for $405,000, while one of seven 1967 GT40 MK III Coupes built failed to make reserve at a high bid of $310,000. Sports Car Market said of the GT40 in 1999, “$300,000 to $400,000 seems to be the current range for street GT40s. Race cars, particularly those with factory team history, will bring much, much more.”