Classic car market "wave up" early

Ferrari 250 GT LWB California Spider 1958 sold for a record 8.25 million in Scottsdale last week.
Original Batman Batmobile car was sold for $ 4.6 million accounted for most of the headlines from Scottsdale auction, but apart from that, many other classic cars reached record prices.
Two Ferrari sold for more than $ 8 million, and 23 other car sold for over $ 1 million in an auction in Scottsdale. That helped set a sales record of $ 223.8 million for this auction, $ 40 million higher than the record set last year, and more than 60 million compared with pre-crisis peak $ 163 million in 2007.
McKeel Hagerty, CEO of Hagerty - car insurance companies price collection and monitoring, said auction sales and private transactions recently showed the classic car market is being raised to new high. Even the pickups have hundreds of thousands of dollars when the price Ford Bronco 1969 reached $ 500,000 in Scottsdale.
Craig Jackson, CEO of the Barrett-Jackson auction, said many buyers in 2006 and 2007 as the real estate business. Currently, many buyers in the oil and gas industry.
Of course, not all of the classic cars on the floor are sold. About 17 percent of car auction in Scottsdale this year can not find a new owner, a slight increase compared to last year's 15%. Hagerty said, a in segment "smooth" this year is the American classic cars from the 1940s and 1950s, especially the car has improved a lot.
However, the average selling price this year reached $ 100,176 / unit, up from the $ 85,169 average price last year. Ferrari continues to lead on price. A pair of Ferrari 250 GT topped the sales charts. Hagerty said, because the classic Ferrari racing attractive to global collectors from around the world want to own, which would raise the level of prices for them.