Classics are Up & Auctions Are Bustling
- January 27, 2017
- Automotive News, Classic Cars for Sale, Corvette News
- Posted by Laura Nowak
- Comments Off on Classics are Up & Auctions Are Bustling
2016 is over and collector car values have increased by 4.3 percent, according to the Cars On Line 2016 Market Trends Report. The report statistics are taken from auction company results and private sales recorded for 2015 vs 2016. The report shows Chevrolet cars are up 5 percent this year, beating the average.
In Scottsdale last week, preliminary sales show an increase of 3 percent in total sales from $251.8 million in 2016 to $259.4 million this year.
According to Hagerty, a 1967 427/435 4-Speed, has gone from about $163,000 in January of 2015 to $170,000 in January of 2017. This is for a #2 condition with no options. Time to buy, as prices are continuing to climb.
According to Corvette Mike “it was a typical crazy year in the desert of AZ.” and at the Barrett-Jackson auction “over 1700 cars crossed the block over a weeks period of time with a 99% sell-through rate.” We calculate Barret alone sold 143 Corvettes for a total of $12.3m!