Tent collapse smashes cars at Scottsdale auction

[scoutabout]

I know there are usually a few here following the auctions down in Scottsdale each year. In addition to the Barrett-Jackson auction, there are several other auction companies that operate in Scottsdale during the same time. One company, Russo & Steele, had two tents collapse one night during a severe storm. Approximately 300 cars were affected. Some were just scratched, but some got TRASHED! By the way, I've heard that R & S have been very standup about the whole deal and that their insurance will be covering most of the damage to the cars. Thought some might find this interesting. Here are some videos and some articles.

http://www.kpho.com/video/22315910/index.html

http://touchlesscarcover.com/blog/2...le-tent-collapses-due-to-storm-in-scottsdale/

Check out this Superbird:

http://www.youtube.com/watch?v=KZRv85OJEbg

 

[Tacoma]

saw this a couple days ago, and wept! horrible!

I wonder what the bill is gonna end up being for some of that stuff...

 

[Tacoma]

oh, wow, an Allard at 4:12.

MAN! there's a '67 GTO at the end that got TRASHED.

 

[utah340six]

hope they have several million dollors in coverage.`
a lot of cars for sale from insurance company.
hope sellers get top dollar.

 

[Thursty]

Oh man. Horrible!

 

[spencurai]

so basically they took a bunch of rare cars out of circulation thereby increasing the value of the existing cars and further blowing auction prices for cars that much further out of the reach of enthusiasts in normal economic circumstances... BJ auctions and the like ruined classic cars for the average man...the irony is that most of those cars rolling across the block were meant to be in the hands of the average working man(I'm not referring to the luxo cars(rolls, bents, mercs, bimmers)

 

[jackjoh]

I used to finagle tickets to auctions in Cal. just to look at the cars. I never saw that many in one place before. We must not be in a depression. Also there seemed to be a lot of ho hum and kit cars.

 

[Milner]

It was a sad sight....

 

[scoutabout]

a lot of cars for sale from insurance company.

I suspect that only a few of the cars will be completely totaled by the insurance companies. Most will likely be repaired.

hope sellers get top dollar.

A lot of sellers (and buyers) were freaking out on Thursday morning because no one knew what was going to happen. I still haven't gotten the full details, but I suspect R&S's insurance will handle coverage up to an established amount. Anything beyond that and the owner will need to rely on their own coverage. This is where 'agreed value' insurance is nice to have.

so basically they took a bunch of rare cars out of circulation thereby increasing the value of the existing cars and further blowing auction prices for cars that much further out of the reach of enthusiasts in normal economic circumstances...

These few hundred cars won't affect the market that much, if at all. As rare as many cars are, there are a lot of cars out there.

BJ auctions and the like ruined classic cars for the average man.

Or did great things for the 'average man' selling his rare classic or collectible car.

We call it capitalism, and despite Obama's best efforts it's how we roll in America.

the irony is that most of those cars rolling across the block were meant to be in the hands of the average working man(I'm not referring to the luxo cars(rolls, bents, mercs, bimmers)

Everytime I find a rare Mopar hidden behind a trailer home, I always recall that 'the meek shall inherit the earth.'

I never saw that many in one place before.

Only one of the 5 big auctions in town on that weekend.

We must not be in a depression.

There's a certain segment of the population that is never affected by economic turbulence. I find this acceptable since I hope to be a part of this segment one day. Sale prices this year were strong but rational. I've found that the January Scottsdale auctions can be a good indicator of the coming years economy. For this year, my evaluation is: upbeat, seeking business-as-usual, but fearful of regulatory interference with commerce.

Also there seemed to be a lot of ho hum and kit cars.

There's usually a bit of everything.