Six Notable Sales from the 2017 Scottsdale Auctions
Nearly $260 million in total sales
The biggest auctions usually occur around the Pebble Beach festivities later in the year, but the block of auctions that take place in January in Scottsdale, AZ always plays a solid second to the oversaturated California sale. This year, according to Hagerty, Scottsdale saw a total of 2,900 cars sell for a combined $259 million. We picked through the sales recap to find six stand-out cars from the recent auctions.
1963 Jaguar E-Type Lightweight - $7,370,000 (Bonhams)
The top dog of the weekend was this fantastic '63 E-Type Lightweight, raking in over $7,000,000 when the dust settled. The car traces its racing roots back to when it was brand new, where it was raced extensively for the first few years if its life. These were created as a direct response to the brutally dominant Ferrari 250 GTO, and came to be affectionately known as "GTO Killers."
1925 Bugatti Type 35 Grand Prix - $3,300,000 (Gooding & Company)
It's hard to think of a more iconic pre-war racer than a bright blue Bugatti Type 35 Grand Prix. This open-wheeled racer commanded the motorsports field, racking-up over 1,000 wins in a number of different events. This particular Bug was the star of the 1962 Farnesworth auction, billed as the "Auction of the Century" at the time, and enjoyed a relatively pampered life at the hand of just three owners since new.
1995 Ferrari F50 - $3,135,000 (RM Sotheby's)
Finally, it appears the F50 is receiving the market valuation it deserves. Despite being significantly more rare than the F40 (just 349 F50s were made versus 1,311 F40s), the F50 has seen its value increase in line with the F40 instead of skyrocketing like the similarly uncommon Enzo, which saw a 400-car production run.
Part of that is due to timing. The F50 had the poor luck of making its debut during the era of the McLaren F1, which overshadowed the Ferrari (and all other supercars of the era) for years to come. This car is one of just four black F50s ever made, likely contributing to the appropriately eye-watering price tag.
1960 Chevrolet CERV-1 - $1,320,000 (Barrett-Jackson)
We wrote about this prototype earlier, and we're glad to see someone take the wild concept home for a high price. Essentially, this was Zora Arkus-Duntov's attempt to bring Chevrolet to the forefront of international racing in the wake of GM's ban on motorsports competition. The CERV never competed, and instead served as an engineering testbed for Chevy's performance products.
2011 Ferrari 599 SA Aperta - $1,485,000 (Gooding & Company)
As a follow-up to last year's $1.2 million SA Aperta in Scottsdale, modern supercars continued to climb in value. The 599 SA Aperta is best described as an open-air variant of the mighty 599 GTO, enjoying as very-limited production run of just 80 cars. Sure, it's technically slower than the Ferrari F12 Berlinetta that succeeded it, but it's the exclusivity that sells, not the performance. With prices of mid-century exotica getting farther and farther out of reach of your average millionaire, modern supercars are becoming attractive as more affordable alternatives.
1969 American Motors AMX/3 - $891,000 (Gooding & Company)
Alright, this isn't the most expensive car sold this weekend, but when was the last time you saw one of these go up for sale? Yes, this svelte coupe wears the same AMX badge as the AMC AMX muscle car. This was a failed collaboration between mid-engine expert Giotto Bizzarrini and the American manufacturer, producing five functional vehicles before the program was shuttered.