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The January Auctions: By the Numbers
Two of the year’s biggest collector car auction events take place each January, with thousands of vehicles crossing an auction block and hundreds of millions of dollars changing hands. Now that the 2025 January auctions have wrapped up and the numbers are in, we can take stock of the latest goings-on in the collector market. See below for the key points from Arizona (Barrett-Jackson, Bonhams, and RM Sotheby’s) and Kissimmee (Mecum), for the full results from each sale, and for a few interesting trends:
- Total sales: $446.4M
- Average price down 10 percent, to $83,304
- Staple American greats performed well
- Modern supercars dominate the top sales at Barrett-Jackson
- Restomods continue to outsell proper restorations
Between the Kissimmee and Arizona auctions, four percent more vehicles were offered this year vs. 2024 (6432 vs. 6159). A slight bump in sell-through rate (83 percent vs. 80 percent) resulted in nine percent more vehicles sold in 2025 (5359 vs. 4938). That said, total sales dropped three percent ($446M vs $459M) with a 10 percent drop in average sale price ($83,304 vs. $93,037).
Many staple American greats from the 1960s, such as Ford GT40s, Shelby Cobras and GT350s, and Chevrolet Corvettes, sold well. European cars from the 1960s through the present were more common among unsold or well-bought lots.
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The 1966 Ford GT40 Mk I road car at (Mecum Lot S214) sold just above $7M and took the top spot of the month. A 1969 Corvette L89 Coupe (Mecum F299.1) stunned everyone by selling for four times its #1 condition value at $ 1.7 million.
Results for Shelby vehicles were a mixed bag. A 1965 Shelby GT350 (Mecum S200.1) sold very strongly at $990K, 82 percent above the model’s #1 condition value. Meanwhile, although Shelby Cobras are typically a staple at the January auctions, every single original Cobra failed to sell. This includes the Barn Find Hunter Shelby Cobra (Mecum F178) at a $1.9M high bid, and the Essex Wire Competition Cobra (Mecum S243) with a $3.7M high bid.
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At Barrett-Jackson, seven of the top 10 non-charity sales were supercars and hypercars built after 1987. The only “typical Barrett-Jackson” car to crack the top 10, a 1963 Corvette Split-Window (Lot 1368) at $990K, was restomodded by Jeff Hayes Customs. This mirrors 2024, when a 1967 Corvette convertible customized by Jeff Hayes took the number nine spot at $1.1M.
Speaking of restomods, they continue to be very popular at Barrett-Jackson Scottsdale. Nine of the top 10 most expensive mid-century American cars there were customized, and all sold above $500K. The top non-customized mid-century American vehicle, a 1968 Shelby GT500KR (Lot 1286.1), sold for $495K and ranked at number 10 in the category.
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Unlike last year, when Mecum grabbed the top sale of the year with a 1963 Ferrari 250 GT SWB California Spider (closed headlight) at $17.9M, the star eight-figure European car this January failed to meet reserve. The ex-McQueen, Seinfeld-owned 1969 Porsche 917K offered this year was a no-sale with a reported high bid of $25M. At RM Sotheby’s, the star lot was a 1958 Ferrari 250 TdF, which sold for $3.8M. While that is a lot of money, it’s a bit less than the car’s condition #4 (“fair”) value of $3.95M in the Hagerty Price Guide. The 1967 Lamborghini Miura offered by Bonhams also failed to find a new home at a high bid of $1.8M.
Collector car enthusiasts who hoped the January auctions would signal where the market is headed will likely be disappointed with the results. Rather than pointing the way forward, the numbers show that last year’s unevenness is continuing. Auction companies are having to work harder just to keep pace, and buyers are still exercising restraint, just as they did in Monterey last August. Rare cars of exceptional quality will raise the bar, and there are still plenty of opportunistic people who are ready to buy when they spot a bargain, but sales are mixed overall.
Upcoming high-end auctions in Europe and Florida may show a shift in behavior, but the first month of 2025 suggests the bulk of buyers are still patiently playing the waiting game.
2025 Cumulative Results
Cumulative Total: $446.4M
5459/6433 lots sold: 83 percent sell-through rate
Average Sale Price: $83,304
2024 Cumulative Results**
Cumulative Total: $459.4M
4938/6159 lots sold: 80 percent sell-through rate
Average Sale Price: $93,037
Overall Top 10 Sales from all January 2025 auctions:
- 1966 Ford GT40 Mk I Road Car – $7,040,000 (Mecum Auctions)
- 1958 Ferrari 250 GT TdF Coupe – $3,772,500 (RM Sotheby's)
- 2025 Chevrolet Corvette ZR1 – $3,700,000* (Barrett-Jackson)
- 1931 Bentley 8-Litre – $3,195,000 (RM Sotheby's)
- 1939 Bugatti Type 57C – $2,370,000 (RM Sotheby's)
- 1967 Chevrolet Corvette L88 Coupe – $2,250,000 (Mecum Auctions)
- 2023 Hennessey Venom F5 – $2,200,000 (Barrett-Jackson)
- 1956 Mercedes-Benz 300SL Gullwing Coupe – $2,040,000 (RM Sotheby's)
- 2014 Pagani Huayra Coupe – $1,925,000 (Barrett-Jackson)
- 2023 Ford GT Mk IV – $1,870,000 (Mecum Auctions)
*Charity lot
**Excludes Worldwide and MAG auctions
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Results broken down by Auction Company:
Mecum Auctions
Cumulative Total: $215.3M
3221/4264 lots sold: 76 percent sell-through rate
Average Sale Price: $66,858
Overall Top 10 Sales:
- 1966 Ford GT40 Mk I Road Car – $7,040,000
- 1967 Chevrolet Corvette L88 Coupe – $2,250,000
- 2023 Ford GT Mk IV – $1,870,000
- 1967 Chevrolet Corvette L89 Coupe – $1,705,000
- 1930 Ruxton Model C Roadster – $1,540,000
- 2022 Ferrari 812 Competizione – $1,540,000
- 1957 Mercedes-Benz 300SL Gullwing – $1,485,000
- 1967 Ferrari 275 GTS – $1,320,000
- 2020 Ford GT Carbon Series – $1,155,000
- 2006 Ford GT Heritage – $1,001,000
2024 Cumulative Results
Cumulative Total: $224.2M
2818/4000 lots sold: 70 percent sell-through rate
Average Sale Price: $79,554
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Barrett-Jackson
Cumulative Total: $194.3M
2001/2001 lots sold: 100 percent sell-through rate
Average Sale Price: $97,071
Overall Top 10 Sales:
- 2025 Chevrolet Corvette ZR1 – $3,700,000*
- 2023 Hennessey Venom F5 – $2,200,000
- 2014 Pagani Huayra Coupe – $1,925,000
- 2020 Ford GT Coupe – $1,760,000
- 1962 Dodge D100 – $1,500,000*
- 1987 Porsche 959 Komfort Coupe – $1,457,500
- 1956 Mercedes-Benz 300SL Gullwing Coupe – $1,402,500
- 2019 Ford GT Coupe – $1,210,000
- 2022 Ford GT Coupe – $1,100,000
- 1977 Ford F-150 – $990,000
*Charity lot
2024 Cumulative Results
Cumulative Total: $200.3M
1990/1990 lots sold: 100 percent sell-through rate
Average Sale Price: $100,649
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RM Sotheby's
Cumulative Total: $31.5M
85/90 lots sold: 94 percent sell-through rate
Average Sale Price: $369,280
Overall Top 10 Sales:
- 1958 Ferrari 250 GT TdF Coupe – $3,772,500
- 1931 Bentley 8-Litre Convertible Victoria – $3,195,000
- 1939 Bugatti Type 57C Atalante – $2,370,000
- 1956 Mercedes-Benz 300SL Gullwing Coupe – $2,040,000
- 1962 Mercedes-Benz 300SL Roadster – $1,325,000
- 1958 Mercedes-Benz 300SL Roadster – $1,259,000
- 2019 McLaren Senna Coupe – $1,077,500
- 2020 McLaren Senna GTR Coupe – $973,000
- 2015 Ferrari 458 Speciale Coupe – $786,000
- 2014 Mercedes-Benz SLS AMG Black Series Coupe – $775,000
2024 Cumulative Results
Cumulative Total: $22.9M
62/84 lots sold: 74 percent sell-through rate
Average Sale Price: $369,962
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Bonhams
Cumulative Total: $5.5M
52/77 lots sold: 68 percent sell-through rate
Average Sale Price: $104,842
Overall Top 10 Sales:
- 1956 Mercedes-Benz 300SL Gullwing Coupe – $1,490,000
- 2006 Mercedes-Benz SLR McLaren McLaren Edition Coupe – $715,000
- 1992 Porsche 911 Turbo Coupe – $257,600
- 2014 Ferrari F12berlinetta Coupe – $201,600
- 1987 Nissan Skyline GTS-R Coupe – $201,600
- 1961 Mercedes-Benz 190SL Convertible – $156,800
- 1967 Mercedes-Benz 250SL Convertible – $134,400
- 1993 Land Rover Defender 110 Wagon 4x4 – $112,000
- 1978 Porsche 911 Turbo Coupe – $112,000
- 1990 Mercedes-Benz 250GD SWB Convertible 4x4 – $112,000
2024 Cumulative Results
Cumulative Total: $12M
68/85 lots sold: 80 percent sell-through rate
Average Sale Price: $176,522
These auctions are killing the hobby gir the average guy wanting a special car. Sadly few special cars are. Add anymore.
I’ll never be a part of these auctions. Just too much money for me to spend.
Think about…the cost to bring 4,000+ cars to auction, in one place, 3 or 4 times a year. If you don’t think those costs areresponsible for the prices, think again. Booze for the customers(bidders) isn’t cheap. Staging, lighting, and therigging associted with it, ain’t cheap. TV time isn’t cheap. The salaries of everyone involved from the pushers to the polishers must be getting paid….not cheap….
And those costs come from you, dear bidder, and yes, you, dear seller..The auction house wants an average of 10-15% from the buyer AND the seller….a 20-30% or so profit on every set of wheels that rolls by the multi camera set, helps to pay those costs. But, hey, you get 3 minutes of TV face time…posterity calls.
Looks like Mecum is greating better cars and money than Barret-Jackson.
AJ it has been happening that Mecum quality is better, but for some reason people don’t see enough only glitter.
The cars are the stars at these auctions, and that’s what Haggerty reports on because they provide data through insurance. But it would be interesting to know what the road art contributes to Mecum’s bottom line. At a 20% buyers commission and many of the signs bringing $10k or more, it’s gotta be gravy.