SOLD! Huge Results for Barrett Jackson So Far

Car Collecting, Investing or Impulse Joygasms?

It was a good decision for Barrett Jackson to start the auction off with a bang selling 100 vehicles from Ron Pratte's collection. However, I never expected the magnitude of what I saw unfold. If you were watching the auction on Velocity channel you saw what can only be described as a feeding frenzy  that resulted in 100 vehicles sold for a total of $13 million dollars!

Some of the cars sold broke all time records for the make and model just because of the mere fact they were part of a huge collection. The opportunity was just too much for bidders not to go overboard live in front of millions of viewers on screens around the world. The prices were absolutely insane  and the energy was very thick when each of Ron Pratte's one hundred collector grade cars came to the block. I would have never predicted a 1970 Chevelle SS 396 Convertible would go for $143,000. The late Boyd Coddington's vehicles also fetched a huge premium. Even unfinished vehicles that sat in Boyd's shop provided a nice chunk of change knowing full well that modifying them beyond their current state would be a depletion of the values.

Now that the excitement of Tuesday is over we can take a step back and look at what really happened. Were these cars really worth the amount paid? Were the buyers really thinking about the future value of these investments? I find it very hard to believe that these cars will ever see these high prices ever again because let's face it, it was hugely marketed in a way that no auction before as been. Owning a piece of history from a man that changed Barrett Jackson with huge bids and binge buying. Ron Pratte's collection of vehicles were beyond incredible because he bought them and then invested more to make them "perfect". However his investment in the cars will make little to no difference in added value in future auctions. Sure, Ron's name will forever be attached to every car but I hardly see that as something that will garner money into the future.

I am looking forward to covering Friday and Saturday cars because we have some very nice customs and restomods coming to the block. It will be interesting to see if the money will still be flowing like it was on Tuesday because alot of the cars are just as nice albeit with less fan fare. I really hope that people didn't just come to blow it all on the Pratte collection because that would be a shame.

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