Barrett-Jackson: Millennials broaden the classic game by looking for IROC muscles and Japanese cars

Barrett-Jackson is flourishing by selling a lot more cars, for much less money, to a broader audience than the rest.

Craig Jackson recognizes Canadians at a glance at his Barrett-Jackson classic car auction in Scottsdale, Ariz.

"You can always see them – they're the ones in shorts on days when everyone else is wearing jackets," Jack jokes, opening up the Canadian International AutoShow in Toronto on Thursday as a guest speaker at the annual media conference.

Canadians bought 11 percent of the 1,629 cars that sold their business during the auctions from 12 to 20 January, an increase of 10 percent a year earlier. Total profit rose to $ 119 million for the third consecutive year – even when more prestigious homes fell during their sales in Arizona.

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Barrett-Jackson is flourishing by selling a lot more cars, for much less money, to a broader audience than the rest. The average price of 1,629 sales was $ 73,086 this year; On the other hand, Gooding & Company performed best in the realm of big money, with an average of $ 456,905 on just 104 shares sold.

"What you saw was a different buyer than in the past," Jackson said in a telephone interview from Scottsdale. "The hunger for supercars, customs and resto-mods (appearance in terms of appearance, radical mechanical) came through well last year and that continues." We sold 151 this year.

"I think of several cases of two cars that sell back-to-back, the same year only one stock and the other custom – the so-original & # 39; 57 Chevy brought $ 75,000, the custom $ 475,000. "

Total profit for the company increased to $ 119 million for the third consecutive year.

The company has flawlessly anticipated the evolving market. Gen X and millennials bought twice as many vehicles in 2018 as in 2013, reports Barrett-Jackson. As a result, the average model year of sold vehicles increased from 1968 in 2013 to 1978 last year.

"Gen X grew up with SUVs, so no surprise, we sell a lot of Broncos and Blazers," Jackson said. "The goal now is millennials, we provide millennials with more foreign cars, Japanese cars and IROCs. [International Race of Champion muscle] cars, Vipers, the hot cars that they can identify with. & # 39;

Canadians bought 11 percent of the 1,629 cars that Jackson's company sold during the auctions from January 12-20, an increase of 10 percent a year earlier.

Appropriate attention is paid to trends and statistics, but the abdominal assessments that take shape during the auction of each year can add more weight. "If you get five, six bidders jump in with bids on one type of car, no action for another, we're watching," Jackson said. "Because we have no reserves (minimum prices that an addressee accepts for their car), every sale is a real snapshot."

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He rejects concerns that electric cars are going to short-circuit the hobby of collecting cars.

"The Supercar hybrids will be the collector's items of tomorrow – they just wash quickly (accelerating from a standstill)." I see a lot of interest from collectors in the future, for that reason alone. "

For now, rules for swallowing gasoline. The 840-hp 2018 Dodge Demon will certainly appreciate. Recent Shelby Mustangs are another sure thing: he has bought a dozen.

His 2008 Bugatti Veyron, however, has no grip yet. When the hammer on the car fell to $ 700,000 when sold in Las Vegas in 2010 and the winning bidder said he was joking and escorted to the door, Jackson announced that if no one else wanted to bid, he would take it to would take home. And so it happened.

Gen X and millennials bought twice as many vehicles in 2018 as in 2013, reports Barrett-Jackson, for a total of $ 66.5 million, an increase of $ 33.5 million. As a result, the average model year of sold vehicles increased from 1968 in 2013 to 1978 last year.

"I ride with it," he said. "I'm on my third set of tires." The previous owner had already gone through three sets of 11,800 miles; the odometer is now 17,000. "I just sent it to Bugatti in LA for a full service," said Jackson. Costs? "Probably $ 75,000," he said. "It can be $ 17,000, only for belts and snakes."

It was the first time in the whole conversation that the confidence of the man seemed to be shocked for a moment.

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