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McCormick’s auction trending upwards
This Story expires on: Friday Sep. 05, 2014

 With most West coast collectable car auctions trending upwards in sales and revenue, McCormick’s Palm Springs Collector Car Auction is reporting a major gain in registrations for the upcoming November auction.

            “The trend is continuing,” said Keith McCormick, “since we are 35 per cent ahead in paid registrations for auction cars at this time over year-ago figures. That’s a very good sign.”

            In order to accommodate more cars to meet demand, McCormick will add two hours to the Friday schedule, which will allow about 600 cars to pass through the auction tent during the weekend, up from 561 last February.

 The three-day auction is held twice each year in February and November. The upcoming auction (Nov. 21-23) will be the 57th in Palm Springs, now located adjacent to the downtown Spa Resort Casino close to shopping, restaurants and entertainment.

At last February’s auction, which generated $7 million in sales, several cars with high price tags led the way to an income record. A pristine 1960 Chrysler 300 F sold for $105,000. Other top cars included a 1968 Shelby GT350 Mustang, $78,750 and a 1968 Jaguar XKE Roadster, $70,875. 

Of the 561 cars in last February’s auction, 410 or 80 per cent were sold, McCormick reported. Record attendance, up 20 per cent from the previous year, totaled some 27,800 car-shoppers and admirers, including 7,000 on Friday, which was a free day.

Competition for the cars was “very intense at times between buyers,” McCormick said. Some buyers viewing a live Internet feed of the auction telephoned bids from all around the country and abroad.

In the 28-year history of the McCormick auctions, “we have seen a lot of cars,” including celebrity cars and notorious cars, including the “Blanco Bronco” the televised internationally in the O.J. Simpson chase scene. “Another steady trend has been the increase in the quality and rarity of cars, which command a higher price,” according to Jason McCormick, who manages the auctions with his father.

Some high end cars already slated for the November auction include a 2008 Shelby GT Super Snake, a one-owner car with less than 7,000 original miles. Only 278 were built in 2008.

Two Buick convertibles, a 1941 and a 1956, will also be auctioned along with a 1967 Chevrolet Corvette, the most sought-after year and drivetrain for collectors. The fully restored pristine Corvette features a period-correct 427/390 engine and four-speed manual transmission. 

The auction will stream live via the Internet for three days and people who register in advance may bid for cars by phone. At the previous auction, people tuned in from across the United States, Europe and New Zealand to bid on cars. 

Source: Auto News
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