COSTA MESA — Who says cars depreciate in value the moment they're driven off the lot?
In what company officials are calling a strong showing, the Barrett-Jackson Classic Car auction at the Orange County Fairgrounds last month reported more than $15 million in sales.
It was the auction company's first foray into Orange County, with already well-known annual auctions taking place in Scottsdale, Ariz., Palm Beach, Fla., and Las Vegas.
Officials credited Southern California drivers' well-known affinity for classic American cars and hot rods as key to the inaugural auction's success.
The auction, however, wasn't for the collector looking for a pretty Sunday drive who wasn't willing to spend some cash.
But by the conclusion of the auction, two cars had sold for more than twice that.
Costa Mesa officials said that a breakdown of how much sales tax revenue they would receive from the weekend auction would not be available for a few months because it goes through the state first.
More than 58,000 people attended the weekend event. Barrett-Jackson will return to the fairgrounds next summer and has added Orange County among its annual events, officials said.