Barrett-Jackson
January in Arizona means a new year of car collecting opportunities, spearheaded by the mammoth annual affair that is the Barrett-Jackson auction in Scottsdale. Ringmaster Craig Jackson has grown a modest, family-run business into branded, private equity–backed giant—with additional auction activities now unfolding in Palm Beach and Las Vegas. "You’d think with the troubles in our current economy, you’d see a lot of cars flooding the market, but that’s just not the case," says Jackson. "Great cars are still hard to come by, and that’s all we’re looking for."

Among the unique fare featured at Barrett-Jackson January 11 to 18 is an interesting diversion from the four-wheeled vehicles that typically cross the block. The machine in question is a Ford 4-AT-E Tri-Motor airplane from 1929, "a flying example, which is rare, that we think should bring a few million," says Jackson. "If there’s one thing we’ve learned from our research it’s that guys who love cars tend to love planes and boats as well."

Although Barrett-Jackson does trade in a broad range of cars, they are perhaps best known for putting the hammer down on American muscle—vehicles whose popularity and prices continue to defy belief and generate testimonials like the one Jackson got a few years back from a man who said his life was changed after he sold his original Hemi Barracuda at auction for $500,000. "The guy said after that his kids were able to go to college, his house was remodeled, and he still had money for a muscle car that he liked," Jackson says with a laugh.

As for the buyer side of the equation, Jackson says 40 percent are first-timers looking for the car of their youth or simply the car of their dreams. "The crowd is getting younger," he observes. "Speed [Channel, which broadcasts Barrett-Jackson auctions] is doing really well with the 18-to-25 demographic, and maybe as a result of that we’re getting folks into our tents that aren’t that young, but definitely younger boomers and even Gen Xers in their 30s with a little money to spend."

As for cars to look for, Jackson says American metal from the 1950s offers a good value. "They’re big, they’re different, they have that land yacht feel that’s missing from anything out there today," he says, pointing out that gas prices aren’t really a factor, given the minimal mileage many of these classics accrue once purchased. "Otherwise, Mustangs, Thunderbirds, and Corvettes remain very strong, and Ferrari is seeing one of their hottest streaks in a long while," adds Jackson, a longtime hobbyist who is personally restoring a Ferrari Daytona coupe. "Four years ago we sold a Lusso for $300,000 and people said that money was crazy. Now they can hit seven figures."

Other hot cars include Jaguar E-Types and Porsche 356s, "both of which are classics, but also very fun to drive and not crazy expensive," he says, noting that a nice E-Type will run $50,000, while a stunning car can be had for $100,000.

Driving those trends are European collectors taking advantage of a strong Euro, though some of those benefiting live even closer. "You wouldn’t believe how many Canadians we’re seeing now, or better yet, Canadians in the oil business," says Jackson. "Those guys hit the jackpot twice, and they come down to Arizona to fulfill their car fantasies."RM Auctions
Canadian-based powerhouse RM Auctions will present cars in Phoenix on January 16—with one vehicle in particular threatening to steal the show. "I’d say this is the Holy Grail for Corvette fans," says RM spokesman Terry Lobzun. "To our knowledge, there’s never been another one at auction, ever." The car in question is a 1963 Corvette Grand Sport Roadster, one of only five top-secret creations by the legendary Zora Arkus-Duntov, the so-called "Father of the Corvette." 

"Shelby was out with the Cobra, and General Motors didn’t want to be left behind," says Lobzun. But however impressed GM brass might have been with Arkus-Duntov’s work, the original plan for 120 cars was quickly scrapped, leaving only three coupes and two roadsters to fly the ’Vette flag around major North American circuits, such as Bridgehampton, Sebring, and Watkins Glen. 

Lobzun expects a sale price for the purpose-built racecar to be in lofty one-off Ferrari territory, between $7.5 million and $9.5 million. "These were the days of the GT40, the Daytona, the Cobra—and this Corvette was right there with them."

Russo and Steele
Phoenix-based Russo and Steele is another big player on the Scottsdale auction scene each New Year. This time around, the star of their multi-day show (January 14 to 18) will be a Ferrari of a peculiar stripe. As profiled in The Robb Report Collection (June 2008), the car is by all appearances a rarer-than-rare 1959 Testa Rossa—low-slung, with swooping lines, a cut-down windshield, and a shrieking 12-cylinder powerplant. But Signor Ferrari had nothing to do with this beauty, other than providing inspiration.

Underneath the svelte aluminum body is a chrome-moly tubular chassis and a BMW-built V-12 mated to a Hilborn fuel injection system. Brembo and Wilwood racing disc brakes provide stopping power. But it’s not all modern wizardry. The cockpit screams retro, with period-correct Veglia instrumentation and a wooden Nardi steering wheel. Original Marchal and Carello lights and Borrani wire wheels built off original Ferrari-specced jigs complete the ensemble.

Jason Wenig and a team from the Creative Workshop, a concours-focused restoration shop outside Fort Lauderdale, crafted the Sport Speciale. "The idea with this car was to literally build one from the ground up in the same way artisans of the past would, using old techniques and even vintage tools in some cases," says Russo spokesperson Stephanie Quinn. "You need to see it to believe it."

Barrett-Jackson, www.barrett-jackson.com
RM Auctions, www.rmauctions.com
Russo and Steele, www.russoandsteele.com