Rate the Barret Jackson Auction Cobras

[brentfenimore]

Hello All,

I was not able to attend the Barrett Jackson event this year for the first time in four or five years but kept fairly close track of what was going on by TV and cell phone. It was a very successful show as a whole and had fantastic attendance figures.

One thing to keep in mind is that at the end of the day that these auctions are events and hipe is a big part of what brings top dollar. That is why the values of specific models vary from year to year (25th Anniv, 40th Anniv, 50th Anniv, etc.).

Shelby and SAI have been very successful in the auction arena for several years and for several reasons but I have to say that showmanship, exclusivity and resale value have been some of the major contributors to that success.

A few major examples of Cobras sold at events in the last few years:

Number 1 of 40, 40th Anniversary Ltd Edition, aluminum bodied 427 Cobra- 2002 Kruse Event in Las Vegas price $210,000.00

Number 2 of 40, 40th Anniversary Ltd Edition, aluminum bodied 427 Cobra- 2002 Kruse Event in Auburn price $135,000.00

Number 2 of 40, 40th Anniversary Ltd Edition resold at the 2003 RS Event in Scottsdale $175,000.00

Number 1 of 10 CSX4000R Composite Bodied 427 Cobra Racer- 2003 Atlantic City Event price $198,000.00

Over the course of the past 7 years we have sold CSX3000 cars for $410,000.00 and $385,000.00 at auctions. Standard CSX4000 glass cars have sold for $95,000.00 to $135,000.00 and standard aluminum cars from $105,000.00 to $155,000.00.

The market at these events is made in the months prior to the event, the support of the auction house is crucial and of course anniversary or limited editions draw high dollar if promoted properly.

One specific instance of a car that brought high dollar through hipe was a CS Special Edition Series 1- 2001 Barrett Jackson Event Scottsdale price $250,000.00. This was a beautiful car with options that were only offered on one car out of a run of 249, the average retail sales price of the other 248 Series 1 cars that were produced including options was $117,000.00.

The bottom line to many of these sales are I want it and I have enough $ to out bid you for it. Take a look at the '56 Vette that sold for over $100K, it was a Cincinatti fan not a car collector making an investment.

I have to say it is fun to attend these events and it does not hurt any of our egos to see Cobras go for big $, even though most of us can only afford to drive our replicas no matter what brand they may be.

R Brent Fenimore