June 25, 2003

Ferrari 400 Superamerica fetches U.S.$432,000 at Barrett-Jackson auction

Los Angeles, California - Nearly 200 classic, collectible, vintage, sports and special interest cars crossed the auction block at the third annual Barrett-Jackson Classic Car Auction at the Petersen Automotive Museum on June 21 and 22 in Los Angeles.

The Classic Car Auction brought in more than U.S.$4.2 million in sales revenues and attracted car enthusiasts looking to buy their first classic vehicle to serious collectors. The sales ratio of the auction was 55 percent.

1963 Ferrari 400 Superamerica. Click image to enlarge

One of the anticipated highlights of the auction was the sale of a 1963 Ferrari 400 Superamerica. This very rare car, originally owned by the same family for nearly 40 years and being offered for sale for the first time, received much pre-auction attention as a no reserve entry. The Ferrari was purchased for $432,000 after a lengthy bidding battle between bidders by telephone and at the auction. Another bidding battle for a European sports car resulted in a record price of $108,000 being paid by the successful buyer for a 1962 Porsche 356 B Super 90 Cabriolet.

Muscle cars continued to be a sought after segment of the collector car market with record prices being achieved for a 1967 Pontiac GTO Convertible at $43,520, a 1966 Oldsmobile 442 W-30 Coupe for $61,650, and $79,920 for a 1964 Chevrolet Impala SS409.

1923 Mercedes 28/95 PS Targa Florio. Click image to enlarge

The most expensive car sold was a 1923 Mercedes 28/95 PS Targa Florio that went for $756,000. The imposing and historic Mercedes with a well-documented history had been part of a prominent Southern Collection for many years. Although not announced sold when on the auction block, continuing negotiations by auction company personnel resulted in the successful sale being announced soon after. The car was purchased by publishing magnate and museum founder Robert E. Petersen, and will join the museum's Treasures From The Vault Collection.

Other significant cars sold include a 1971 Ferrari 365GTB/4 Daytona Berlinetta for $145,800, a 1952 Mercedes-Benz 300 Cabriolet for $59,400, and a 1949 Chevrolet Canopy Express for $43,200. A 1938 Lincoln Zephyr Twelve Convertible, driven by Annette Bening in the motion picture 'Bugsy', sold for $74,520,

The Los Angeles auction also marked the first time Barrett-Jackson has incorporated on-line bidding along with streaming video at one of their live auctions. The new service resulted in a number of the cars, together with pieces from the automobilia auction segment, being purchased by bidders who were unable to attend the auction.

Click here for detailed auction results

The Barrett-Jackson Auction Company's next event is its classic car auction in Scottsdale, Arizona. With more than 800 cars crossing the auction block, it is the world's pre-eminent classic car auction attracting 175,000 attendees from around the world. The 33rd Annual Barrett-Jackson Classic Car Auction will be held January 21-25, 2004.

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