Sole survivor: This 1954 Oldsmobile F-88 GM Concept Car – the only one remaining of four created – sold for $3.3 million at the 2005 Scottsdale Auction.

To mark Barrett-Jackson’s half-century in business, in this special series we’re taking a look back at some of our favorite moments from the past 50 years – as well as some little-known facts about The World’s Greatest Collector Car Auctions.

The sale of the F-88 was referred to by AutoWeek magazine as “the most emotional 10 minutes of automotive television in recent history.”

It was auction action the likes of which the collector car world had never been seen before – a moment that AutoWeek magazine described as “the most emotional 10 minutes of automotive television in recent history.” We’re of course talking about the sale of the remarkable 1954 Oldsmobile F-88 GM Concept Car during Barrett-Jackson’s 34th Annual Scottsdale Auction.

When the two-seater Oldsmobile rolled across the block it caused quite a stir. Legendary concepts like this don’t come around often and few, if any, are ever offered at No Reserve. Bidding took off at a fever pitch, with as many as seven participants throwing their hats in the ring, but it very quickly became a duel between two excited bidders. The bidding war soared well past million-dollar milestone, and up and onward it went, the auction arena’s capacity crowd jumping and cheering with excitement. The Olds would set a new auction record, $3.3 million – becoming the highest-selling car ever at Barrett-Jackson at that time. The record-setting sale would send ripples through the collector car hobby and the world.

“The F-88 was the shot heard round the world when it came to putting concept cars on the map, realizing the history they represent,” said Barrett-Jackson President Steve Davis. Part of what were termed “dream cars” at the time, the F-88 was pet project of the great Harley Earl, who worked with the forefathers of the Corvette – Bill Mitchell, Ken Pickering and Zora Arkus-Duntov – to create a daring and sporting flagship for Oldsmobile. Dubbed the XP-20 project, four design studies came to life, though it was this car, styling order #2265, that was the only survivor, making it a true one-of-one.

“The Olds F-88 became one of the most historically significant vehicles of its era,” said Craig Jackson, president and CEO of Barrett-Jackson. “Many automotive historians consider the F-88 to be one of the greatest expressions of automotive design to ever come from North America.”

Adding to the magic of the evening were two members of the GM design team and Harley Earl’s grandson, Richard Earl, all on stage to witness history as the gold-hued Motorama special crossed the block. It was a spectacular night, delivering another magical moment that can only be found at Barrett-Jackson.