Shane Ferro
Art market news and commentary by the staff of Art+Auction

MARKET WATCH: Art market news and commentary by the staff of Art+Auction

Lessons from Scottsdale: The Batmobile Has Been Sold and Classic Cars Are the New Warhols

Pin It

Attention DC Comics lovers: the Batmobile has been sold — at least one version of it. The specialized machine hammered down for an impressive $4.62 million over the weekend at the annual Scottsdale auctions in Arizona. The car had belonged to Geroge Barris, who created it for use in the 1960s “Batman” television show. Despite being nearly fifty years old, the Batmobile has a surprising amount of custom technology. According to Bloomberg, “The 500-horsepower custom car has a fake jet exhaust in the back (a painted 10-gallon bucket), a Batphone and two packed parachutes that actually work, used to effect a ‘Bat turn.’”

In all, the Scottsdale car auctions raked in $223 million this year, up more than 20 percent from last year’s $183 million, as more collectors move to stash their money in so-called “passion investments.” Classic car advisor Simon Kidston told Bloomberg, “There are a lot of people squirreling away money in classic cars at the moment,” noting that car enthusiasts are seeing auction prices going up and assuming that the cars will retain their value.

The Batmobile wasn’t even the top lot over the weekend. Two Ferraris, one from 1958 and the other from 1960, sold for roughly $8 million each.

Shane Ferro

(Images of the Batmobile at auction courtesy Barrett-Jackson Auction House)

Tags: , , , ,

Pin It

Add a Comment