SOURCE: Barrett-Jackson

Barrett-Jackson

January 13, 2010 10:54 ET

Barrett-Jackson Removes 1958 Chevrolet Impala From Scottsdale Docket Over Questions About Previous Ownership by Buddy Holly

SCOTTSDALE, AZ--(Marketwire - January 13, 2010) - The Barrett-Jackson Auction Company, producer of "The World's Greatest Collector Car Auctions™," announced today that the 1958 Chevrolet Impala scheduled to be sold in Scottsdale, Ariz., will not cross the block. The decision to remove the car from the docket was made due to recent allegations about the provenance of the car, which was represented by the consignor to have belonged to Buddy Holly. The vehicle was to be sold at No Reserve during the 39th Annual Barrett-Jackson Collector Car Auction in Scottsdale on Jan. 18-24, 2010 at WestWorld.

Barrett-Jackson's consignment team carries out the final elements of its diligence process when auction cars consigned to the Scottsdale 2010 event arrive onsite for check-in. As a part of this process and the company's related investigation, questions arose concerning the provenance of the vehicle scheduled to be offered as Lot 1258.2, a 1958 Chevrolet Impala 2 Door Hardtop. Barrett-Jackson has been unable to obtain satisfactory information to resolve the issues that were raised during the company's investigation; as a result, Lot 1258.2 has been pulled from the auction lineup by Barrett-Jackson.

"Barrett-Jackson is proud of its business practices and dedication to transparency, integrity and fairness in conducting our collector car auctions," said Steve Davis, president of Barrett-Jackson. "This commitment extends to every customer and car consigned to a Barrett-Jackson auction, regardless of whether the car is scheduled to appear early in the week or it is one of the featured cars of the auction."

The company's diligence process is designed to ensure that all customers arrive at Barrett-Jackson knowing they will have a chance to bid on a wide variety of collector vehicles that reflect the current demands in the collector car market. The process begins when preliminary consignment requests are submitted months before each auction, and continues up to the time consigned vehicles arrive onsite.

"While we were disappointed to have to pull such a high profile car from the auction, this was a decision we were willing to make in order to ensure all our customers are provided with a fair, trustworthy forum for buying or selling a collector car," continued Davis. "Everyone is treated the same at Barrett-Jackson, regardless of whether they regularly consign high profile cars or come to us for the first time with an entry-level vehicle. In the case of this 1958 Impala, after receiving the car onsite and conducting a follow-up investigation, our decision was made."

Barrett-Jackson's docket for the 2010 event is among the company's most ambitious in its 39 year history. Over 1,200 vehicles will be sold at No Reserve of every class and type imaginable.

"From a 1929 Hamilton airplane to an original 1963 Cobra, Hot Rods, pre-war classics and celebrity owned vehicles, there is literally something for everyone to enjoy," added Davis. "We've never had to turn away so many world-class vehicles for consignment. And bidder credential requests have never been so strong. This means that once again, real buyers will be vying for real cars, and getting them at real market prices, only at Barrett-Jackson. So the opportunity to buy or sell a quality vehicle will be ideal."

About The Barrett-Jackson Auction Company

Established in 1971 and headquartered in Scottsdale, Ariz., Barrett-Jackson specializes in providing products and services to classic and collector car owners, astute collectors and automotive enthusiasts around the world. The company produces "The World's Greatest Collector Car Auctions™" in Scottsdale, Palm Beach, Fla., Las Vegas and Orange County, Calif. Barrett-Jackson also endorses a "one-of-a-kind" collector car insurance offering for collector vehicles and other valued belongings. For more information about Barrett-Jackson, visit www.barrett-jackson.com or call (480) 421-6694.

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