Car Guys Converge on Scottsdale

This week car guys with lots of bucks will be converging on Scottsdale, AZ, and some big money will be exchanging hands:

Travel note to anyone heading for Scottsdale, Ariz., during the week of Jan. 15: Bring money. Not that the little desert wonderland on the edge of Phoenix doesn't demand a full wallet in normal times, but the aforementioned seven days will practically immerse Scottsdale in showers of dollars, pounds, yen and euros as the wealthiest classic-car collectors on the planet gather in search of the automobile of their dreams.

During this amazing display of conspicuous consumption, more than $100 million will change hands at five specialty car auctions being held in the Phoenix area. The premier attraction will take place under the world's largest tent as the 35th annual Barrett-Jackson rolls upward of 1,100 machines across the block while 32 hours of the mad bidding are aired live on the Speed Channel.

It is expected by auction entrepreneur Craig Jackson that records will be broken in this steamy collector market, easily exceeding the sales of $61 million generated at last year's event.

You can read about some of the vehicles on sale here. I must admit that the Speed Channel live broadcast of the Barrett-Jackson auction is addictive. Each car is rolled onto the main stage and remains there for only a couple of minutes. Bidding is often furious, and prices for sought after vehicles can climb dramatically quickly. It's interesting to watch the auctioneer and his assistants work the crowd to drive up the price. Each bang of the gavel brings cheers and applause, especially from Craig Jackson who just made another 10% commission.

It's a real spectacle, but don't watch unless you want to get hooked.