Leake Auction Company, Tulsa, Oklahoma, June 8-10, 2012
Report and photos by Rick Carey, Auction Editor
The Leake Auction Company continued its 40th Anniversary year with its annual Tulsa auction at the Expo Center, a 10-acre clear span structure sponsored by Quick Trip, those “QT” signed fuel and replenishment centers located along Interstates.
Leake had made prodigious, and successful, efforts to assemble a large, diverse consignment ranging from rare brass and classics to mid-century Muscle and late model high performance cars.
Two rings operated on Friday, Leake’s traditional no seller’s commission day. The sell-through was healthy at nearly 60%.
The best cars were arrayed for Saturday’s two-ring sale. It started out auspiciously, selling well in the early consignments. Then slowed during the middle of the day, as the strongest cars crossed the block, before picking up toward the end of the day.
It wasn’t the cars’ fault. They were good, solid cars, well-described and presented. It wasn’t the block teams’ fault; both the Red and Blue rings had identical experiences. Daniel Kruse swapped auctioneers from ring-to-ring with no discernible effect. The crowd was ample and there were plenty of on-site and phone bidders registered.
Sunday saw a much better result as a single owner collection of no-reserve cars crossed the block and cars with reserves achieved a generally better sell through.
It should be said in all fairness to the Leake family that this isn’t a unique phenomenon. Sometimes bidders’ attention is elsewhere and even the best and most reasonably priced cars can’t find a reasonable bid. In the end, however, collectors missed a number of opportunities to acquire very good cars, often at advantageous prices.
Astute collectors should take note and put the next Leake auction – Dallas, Texas November 16-18, 2013 – on their calendars.
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Leake Tulsa 2012 – Auction Report
Lot # 150 1966 Pontiac LeMans Convertible; S/N 237676P128317; Black/Black vinyl; Black cloth top; Visually maintained, largely original, 3- condition; Hammered Sold at $15,250 plus commission of 8.00%; Final Price $16,470 — 326/285hp 4-barrel, column shift automatic, buckets and console, Jensen cassette stereo, P/S, Rally II wheels, trim rings. Poor, chipped old repaint over old paint, sound old interior, dull old instruments and panel, cracked steering wheel. Rusty wheel rims, mismatched cheap tires. Black bombed underhood. Filled door bottoms. Good new cloth top. A neglected and superficially redone car. The un-GTO, treated about as well as could be expected and bought for an appropriate price.Lot # 248 1990 Ferrari Testarossa, Body by Pininfarina; S/N ZFFSG17A5L0087232; Red/Beige leather; Unrestored original, 3+ condition; Not sold at Hammer bid of $42,000 — A/C, P/W, tools. Good original paint and interior. Clean CarFax. Offered at Mecum’s Monterey auction in 2011, then sold at Mecum Kansas City in December on its second trip across the block for $46,110. It’s not surprising it didn’t sell for this loss-making bid, but the consignor is self-delusional to think there’s any profit left after paying $46,110.Lot # 409 1958 Chevrolet Corvette Convertible; S/N J58S103391; Engine # None; Red/Red vinyl; White vinyl top; Visually maintained, largely original, 3- condition; Hammered Sold at $31,250 plus commission of 8.00%; Final Price $33,750 — 283(?), 4-speed, Hurst shifter, radio, heater, spinner wheel covers, whitewall bias ply tires. Bad old repaint sprayed on body gaskets, peeling badly, dull. Sound interior, scuffed old chrome. No engine number. Underbody and chassis are old and grungy. Rear license plate lights missing. A project car. For a car with so many easily identifiable flaws this result is strong but not unreasonable except for the unidentifiable engine.Lot # 411 1979 Volkswagen Type 2 Westfalia Popup Camper; S/N 2392020323; Green, White roof/Green plaid; Visually maintained, largely original, 3- condition; Hammered Sold at $6,800 plus commission of 8.00%; Final Price $7,344 — Front mounted covered spare, Realistic cassette stereo. Rushed, poorly masked, orange peely fresh repaint. Good but aged interior and camping equipment. Engine and underbody are clean, dry and original. A sound, well preserved Westfalia that deserved a better repaint. At this price the new owner can afford to give it the cosmetic treatment it deserves and stands in a good position to make a nice profit on it.Lot # 414 1961 Chevrolet Corvair 95 Rampside Pickup; S/N 1R124S114312; Red, White/Red vinyl; Truck restoration, 3- condition; Hammered Sold at $11,600 plus commission of 8.00%; Final Price $12,528 — 3-speed, pushbutton radio, big hubcaps, trim rings, narrow whitewalls. Mediocre paint with overspray on the unrestored underbody’s old undercoat. Good upholstery looks original and appropriate to the odometer’s 36,764 miles. Bed floor painted matte black. Superficially cosmetically redone but straight and sound. Ever seen one at auction? I haven’t. The deep well in the middle of the pickup bed and rampside door are highly unusual and take full advantage of the Corvan’s forward driving position and rear-mounted engine. The presentation is unimpressive but will drive and tour just fine. It would be a marvelous show truck for a plant nursery where tall bushes would be protected in the bed and load and unload easily down the side ramp. It is a sound value at this price.Lot # 427 1965 Chevrolet Corvette Roadster; S/N 1946775S101217; Engine # 70620HCH; Red/Red; White vinyl top; Cosmetic restoration, 3- condition; Hammered Sold at $36,500 plus commission of 8.00%; Final Price $39,420 — 327/365hp (?), 4-speed, AM-FM, alloy wheels, gold line tires. A superficial cosmetic re-do with flawed, fisheyed paint, good interior, fair chrome and uneven door fits. Nose badly cracked under the repaint at the headlight door openings. Chassis only superficially done to look good at first glance and left undone where it’s not easily seen. No match on the engine suffix and no representations made of numbers matching. Very superficially and sketchily presented but bought for a superficially, sketchy Corvette price, too. It’ll never go to Bloomington, but after some attention it will tour happily and at this price that’s enough.Lot # 429 1969 Oldsmobile 4-4-2 Convertible; S/N 344679M113120; Burgundy Red, Black stripes/Black vinyl; Black vinyl top; Cosmetic restoration, 3- condition; Hammered Sold at $21,000 plus commission of 8.00%; Final Price $22,680 — 455, automatic, P/S, P/B, A/C, chrome Torque Thrust wheels, Eldorado tires, pushbutton radio, woodrim steering wheel. Poor clearcoat repaint with ample dirt and dust, fair chrome, inviting, attractive upholstery. Instruments and dashboard not done but good new dash top matching the upholstery. Orderly but ordinary underhood. Sketchy and not reassuring. The top goes down, and the Olds will go down the road in comfort with plenty of power and air conditioning. The price it brought appropriately handicaps its many shortcomings.Lot # 436 1934 Ford Deluxe Cabriolet; S/N 18285525; Poppy Red/Brown leatherette; Beige cloth top; Cosmetic restoration, 3- condition; Hammered Sold at $40,000 plus commission of 8.00%; Final Price $43,200 — Light Yellow wire wheels, trim rings, wide whitewalls, enclosed rear spare, grille guard, greyhound. Quickly repainted over shrunken old paint. Good top and upholstery. Poor old instruments and dashboard. Engine is orderly but only superficially redone. Chrome is fair; headlights are buffer scuffed. This is enough money for this erratic Ford. The new owner has plenty of ways to improve it, but it will never be a good value until it’s taken apart and done right.Lot # 462 1967 Austin-Healey 3000 Mk III Phase 2 Convertible; S/N HBJ8L37412; OEWhite, Red/Oxblood; Black leatherette top; Cosmetic restoration, 3+ condition; Not sold at Hammer bid of $48,000 — Silver painted wire wheels, Bridgestone blackwall radials, heater, no radio, Lucas driving lights. Good paint and interior. Weak trim chrome. Underbody is casually done with overabundant exterior color overspray. An attractive but superficial driver. Re-run Sunday as Lot 833, no-sale at $40,000. The gap between choice BJ8 Phase 2 Healeys and drivers like this is vast. This bid is really all the money the consignor should expect for this oversprayed, tentative Healey.Lot # 467 1954 Kaiser-Darrin 161 Roadster; S/N 1611307; Champagne White/Red vinyl; Red vinyl top; Concours restoration, 1 condition; Hammered Sold at $110,000 plus commission of 8.00%; Final Price $118,800 — Wire wheel covers, wide whitewalls, wind wings. Excellent restoration to show car condition. Generously but not excessively chromed underhood. Excellent paint, interior and top. Brilliant chrome. A beautiful Darrin, done everywhere to concours standards and still fresh, clean and sharp. This is a deserved price, and even something of a good value for a car that can be proudly shown everywhere.Lot # 468 1966 Chevrolet Corvette Coupe; S/N 194376S103714; Engine # T1019IP 6103714; Silver Pearl/Silver; Older restoration, 2 condition; Not sold at Hammer bid of $85,000 — 427/450hp, 4-speed, side exhausts, AM-FM, original centerlock alloy wheels (5 of them), teak rim steering wheel, red line tires, telescopic steering column, 3.70 Positraction. Restored like new with quality clearcoat repaint, excellent interior and chrome. Represented as numbers-matching. Underbody was like new but now is a little aged and dusty. This is way more car than the bid it brought. $100K wouldn’t be out of line, even for a coupe, with this equipment and particularly attractive colors.Lot # 470 1972 Maserati Special Sports Racer, Body by AMBRO; S/N AM116/47-882; Red/Tan leather; Non-factory replica, 2- condition; Not sold at Hammer bid of $150,000 — Lefthand drive. Stainless steel side exhausts, chrome spoke Borrani wire wheels, Michelin MX4 blackwall tires. Small cracks along the windshield edges, road grunge inside wheel rims. Fiberglass Ambro nose and tail, aluminum center panels. No racing safety equipment. Modern gauges. 4.2 liter Indy engine with four dual choke Webers, Borg-Warner 5-speed, Halibrand rear axle center section with Dana 35 locker differential. Title and catalog VIN, 116147, is incorrect. Tipo is 116/47. The original Indy chassis number is 882. Quality workmanship and paint. Driver’s seat cushion lightly stretched. A very pretty and unusual driver, not a show car. This is a high quality home built sports car that ticks a lot of buttons in appearance, drivetrain and performance. The fact that is just a home-built, however, is — not to make light of its attractions — a severe limitation on collectors’ value. A money bid at this price should have seen it well and truly on its way to a new home.Lot # 479 1965 Pontiac LeMans GTO 2-Dr. Hardtop; S/N 237375Z122767; Engine # 531494 YD; Montero Red/Black vinyl; Recent restoration, 2 condition; Hammered Sold at $35,000 plus commission of 8.00%; Final Price $37,800 — Tri-Power on a replacement 2-barrel YD block, 4-speed, buckets and console, AM-FM, Rally wheels, trim rings, red line tires, P/B, no P/S. No PHS documents but a copy of its punch card is coded for the GTO option. Good, fresh paint, chrome and interior. Frame and underbody done like new or better. A handsome car done thoroughly but not to show car standards. Not pure, but a choice LeMans GTO by any standard, done to good if not show quality standards. As a weekend driver at this price this GTO is hard to beat.Lot # 498 1930 Cord Front Drive L-29 Cabriolet; S/N 2927033; Engine # FD1178; Cigarette Cream, Brown accent/Brown leather; Tan cloth top; Rebodied or re-created, 3+ condition; Not sold at Hammer bid of $140,000 — Chrome wire wheels, wide whitewalls, dual sidemounts with cloth covers and strap on mirrors, rumble seat, metal luggage trunk. Good paint, chrome and upholstery but let down by dull instrument panel escutcheons. Engine and chassis are good but aged. Rebodied in this style by Glen Pray. No one cares if this L-29 was rebodied by Glen Pray, it’s a rebody and could have been sold for the reported high bid. It’s not getting any better for its trips across the auction block.Lot # 538 1970 Buick GS 455 Stage 1 Cloke Convertible; S/N 444670H333771; Black/Black vinyl; Black vinyl top; Older restoration, 2- condition; Hammered Sold at $26,000 plus commission of 8.00%; Final Price $28,080 — 455/, automatic, P/S, P/B, A/C, AM-FM, buckets and console tilt steering column, Super Sport wheels, Radial T/A tires. Restored like new. Paint presents very well but has some orange peel on the wing and a visibly repaired dent on the left rear fender. Engine is very correct but has some oil mist down deep on the steering box and suspension. Maybe not real, but really cool and that — and its quality restoration — makes it a good value at this price.Lot # 542 1957 Dodge Coronet 2-Dr. Hardtop; S/N 35290454; Yellow, Cream/Light Green vinyl, Grey cloth; Cosmetic restoration, 3+ condition; Not sold at Hammer bid of $24,000 — 325/260hp, automatic, P/S, P/B, wheel covers, whitewall tires. Good but thick and somewhat dull repaint over old paint. Good chrome and original (?) interior. Underbody and chassis superficially squirted with chassis black. Engine compartment is orderly but only superficially restored. An attractive driver. Sold at Worldwide’s Houston auction a month ago for $23,100, the consignor was disappointed in hoping for a better result for this ordinary Dodge. The bid here is real money, as the price last month indicates.
Leake Tulsa 2012 Auction Report – Page Two
Lot # 737 1969 Chevrolet Camaro Z/28 RS 2-Dr. Hardtop; S/N 124379L516159; Engine # 19L516159 V0102DZ; Metallic Green, White stripes/Black vinyl; Older restoration, 2- condition; Hammered Sold at $29,000 plus commission of 8.00%; Final Price $31,320 — 302/290hp, 4-speed, console gauges, clock, Rally wheels with trim rings, Radial T/A tires, P/S, P/B, long tube headers. A competent older restoration with good cosmetics. Underbody and engine compartment are used and in need of some extensive attention. Cheap, but without documentation (of which none was offered) the new owner has assumed some risk.Lot # 1203 1959 Chevrolet Apache Pickup; S/N V3A59S127809; Engine # F319M; Red, White/Red, White vinyl; Truck restoration, 3+ condition; Hammered Sold at $19,000 plus commission of 8.00%; Final Price $20,520 — 2-barrel 283 V8, 3-speed, hubcaps, trim rings, whitewalls, radio, heater. A fresh restoration to presentable truck standards. Bright trim is dull with various dents. Paint is erratically wet sanded with little attention paid to inner edges and surfaces. Usable but hardly impressive. A mediocre truck bought for appropriate money.Lot # 1211 1971 Ford Torino Cobra 2-Dr. Hardtop; S/N 1A38M210534; Medium Yellow Gold, Matte Black hood/Saddle vinyl; Unrestored original, 3+ condition; Hammered Sold at $22,000 plus commission of 8.00%; Final Price $23,760 — 351/285hp, 4-speed, Hurst shifter, 3.25 Traction-Lok, AM-FM, Montclair underdash 8-track, A/C, no P/S or P/B. All original, one owner, stored since 1981 with 47,852 miles. Sound original paint, chrome and interior. Engine is dry and original. A rare find. A choice car. It will need careful attention to bring it back to good driving condition but restoring it would be a complete waste of time and money. It deserves to be preserved, driven, enjoyed and displayed as the time capsule it is and is a very good value at this price.Lot # 1213 1964 Mercury Park Lane Marauder Convertible; S/N 4Z65Z503589; Emerald Green/Beige vinyl; Black vinyl top; Visually maintained, largely original, 3 condition; Hammered Sold at $12,300 plus commission of 8.00%; Final Price $13,284 — 390/300hp, automatic, P/S, P/B, cruise control, wheelcovers, whitewall tires, buckets and console, swing away steering column, pushbutton radio. Mediocre older repaint, sound original chrome and interior. Frame and underbody are dry and original. Paint is flawed with dust. Aside from the dirt encapsulated in the paint this is a neat car, bought at a modest price. The new owner has plenty of room to fix its shortcomings and can enjoy it on sunny summer days while working on it. A good value.Lot # 2432 1970 Chevrolet Chevelle SS 454 Replica 2-Dr. Hardtop; S/N 136370B146910; Forest Green, Silver stripes/Green vinyl; Facsimile restoration, 2- condition; Hammered Sold at $27,250 plus commission of 8.00%; Final Price $29,430 — 454, 4-speed, buckets and console, AM-FM, cowl induction hood, Rally II wheels, Radial GT tires, A/C, gauges and tach. Fresh cosmetic restoration with very good paint, good major chrome and interior, scuffed stainless trim. Not real, but attractive and fun to own. A real good buy. Even if it isn’t a real car it is really attractively cosmetically restored and should be a cool (with the A/C on) weekend driver.Lot # 2440 1957 Chevrolet Bel Air Convertible; S/N VC57S227310; Engine # F328EK; Black/Red, Silver vinyl; Black vinyl top; Recent restoration, 2 condition; Not sold at Hammer bid of $105,000 — 283/283hp, Fuel Injection, 3-speed, spinner wheel covers, whitewalls, electric windshield washer but vacuum wipers. Represented as numbers-matching. Excellent paint, chrome and interior. Restored like new, clean and fresh. Sold at Barrett-Jackson Scottsdale in 2011 for $121,000 in essentially the same condition, so it’s no surprise it didn’t change hands here at this bid.Lot # 2442 1947 Buick Super 8 Convertible; S/N 49971495; Metallic Burgundy/Red leatherette, Brown cloth; Tan cloth top; Cosmetic restoration, 4+ condition; Not sold at Hammer bid of $25,000 — 3-speed, pushbutton radio, clock, hubcaps, trim rings, wide whitewalls, skirts. Fresh paint over minimal prep, new bumper chrome but grille and trim not done, dull and scratched. Sound upholstery and top. Doors rattle like a garbage truck. Engine resprayed in place with overspray on frame. Inner fender shields missing. An awful car. Any money at all should have bought this rat, so it’s unlikely there was any money at this bid.Lot # 2449 1968 Dodge Charger R/T 2-Dr. Hardtop; S/N XS29L8G232707; Silver/Black vinyl; Recent restoration, 2+ condition; Hammered Sold at $50,500 plus commission of 8.00%; Final Price $54,540 — 440/375hp, 4-speed, Magnum wheels, Sure Grip, F70-15 Polyglas tires, P/S, P/B, Tic-Toc-Tach, P/W, gauges, 8-track, pushbutton radio, buckets and console. Done to high standards with very good paint, chrome and interior. Like new underhood and chassis. Very well done and endowed with a choice drivetrain and options complement, this is a quality car at a reasonable price.Lot # 2455 1935 Ford Model 48 Cabriolet; S/N 182074864; Dearborn Blue/Brown leatherette; Beige cloth top; Recent restoration, 2+ condition; Not sold at Hammer bid of $57,500 — Cream wire wheels, wide whitewalls, dual horns, enclosed rear spare, rumble seat, single windshield wiper, banjo spoke steering wheel with ivory painted rim. Restored to better than new with a little subsequent age and use. Sharp engine compartment. Still in essentially show quality condition. A sharp car, it’s no surprise the consignor chose to keep it rather than accept this bid.Lot # 2458 1932 Ford Deluxe Phaeton 2-Dr.; S/N B5T63000; Maroon, Black fenders/Brown leatherette, Beige cloth top; Older restoration, 2- condition; Not sold at Hammer bid of $57,500 — Dual sidemounts with black bands, red wire wheels with hubcaps and trim rings, wide whitewalls, dual remote Unity Sportlites, wind wings, greyhound, trunk rack, side curtains, folding windshield. A quality older restoration with very good paint, chrome, interior and top. Chassis and underbody show age but little if any use. A rare body style, the decision to keep it at the reported bid could not have been easy.Lot # 2460 1965 Pontiac LeMans GTO Convertible; S/N 237675P297583; Nightwatch Blue/Parchment vinyl; White vinyl top; Older restoration, 2 condition; Not sold at Hammer bid of $45,000 — 389/335hp, 4-speed, no console, pushbutton radio, Rally wheels, redline tires, P/S, no P/B. Good clearcoat repaint, bright, sharp chrome. A sharp, shiny older restoration now with some age but little if any use. Sold for $51,700 at RM’s San Diego auction of Glen Konkle’s collection in 2010, it’s no better or worse now than it was then, and similarly worth no less than it brought there, a $47,000 hammer bid.Lot # 2465 1971 Buick GS Stage 1 Convertible; S/N 434671H104641; Strato-Mist Blue/Parchment vinyl; White vinyl top; Older restoration, 3+ condition; Not sold at Hammer bid of $42,000 — 455/345hp, 4-speed, pushbutton radio, power beach seat, P/W, Rally II wheels, Wide Oval tires, hood tach, gauges, P/S, P/B, chrome air filter housing and valve covers. Good paint, chrome and interior showing some age. Hood molding chrome trim is pitted. Chassis shows age and use. A sweet car in attractive colors, it is worth no less than it brought at Barrett-Jackson Scottsdale in 2012, $43,000 hammer, $47,300 with commission.Lot # 2466 1968 Chevrolet Camaro RS/SS Convertible; S/N 194378L328650; Silver, Black vinyl roof/Pearl vinyl, houndstooth cloth inserts; Recent restoration, 2 condition; Not sold at Hammer bid of $57,500 — 350/295hp, 4-speed, P/S, P/B, F41 suspension, smog pump, cowl induction from cowl vents, bucket seats, no console, Hurst shifter, pushbutton radio, rosewood grain steering wheel, Hurst alloy wheels, red line tires. Dana/Hurst package, documented by its Protect-o-Plate. Restored like new and just a little dusty from storage. This Camaro has a select options list and could easily have brought $65,000 without being over-priced.Lot # 2470 1970 Chevrolet Chevelle SS 454 LS6 Convertible; S/N 136670L178277; Engine # T0317CRV; Astro Blue, Black stripes/Blue vinyl; Black vinyl top; Recent restoration, 2+ condition; Not sold at Hammer bid of $52,000 — 454/450hp LS6, M22 4-speed, P/S, P/B, buckets and console, Rally II wheels, Radial T/A tires, tilt steering column, cowl induction, 4.11 Positraction. Represented as a correct, numbers-matching LS6. Freshly restored and like showroom condition except for far better paint and panel fits. The CRV engine suffix is appropriate for an LS6, a car worth $60+K in this condition.Lot # 2485 1976 Triumph TR6 Convertible; S/N CF56177U0; White/Black vinyl; Unrestored original, 2 condition; Not sold at Hammer bid of $23,000 — Hardtop, radio missing. 422 miles and like new, not a ratty barn find, owned by a Triumph dealer for years. This poor car has been trotted across auction blocks at least three times this year. Reported bid to $37,500 at Mecum’s Kissimmee auction in January, then $31,000 at Auctions America’s Ft. Lauderdale auction in March, this bid is its nadir. What is it worth? It’s anybody’s guess, but it’s more than this. Even the Kissimmee bid wouldn’t be unreal for its originality and preservation.Lot # 2501 1968 Buick GS 400 Convertible; S/N 446678Z115432; Dark Blue/White vinyl; White vinyl top; Cosmetic restoration, 3- condition; Hammered Sold at $20,500 plus commission of 8.00%; Final Price $22,140 — 400/340hp, automatic, P/S, P/B, A/C, P/W, aftermarket engine gauges and console-mounted tach, factory AM-FM, woodgrain steering wheel rim, Rally II wheels, blue line tires. Repaint makes a good first impression but is erratically masked and the wet-sander overlooked many edges. Major chrome is good but stainless trim is scuffed and scratched. Engine compartment is dirty and neglected. Sold at Auctions America’s Spring Carlisle auction last April for $20,350, it was time for this GS to move on, and it did. It’s far from the best of its type, but on a sparkling summer Saturday no one’s going to get close enough to spot its faults. It’s a sound retail buy at this price, just don’t look for a profit from it.
Unfortunate dates of their upcoming Dallas auction: same as the F1 inaugural event in Austin…
It depends upon your point of view.
Dallas is only a 2-hour drive from Austin, making it possible to get up real early on Sunday morning, drive the Austin, park in one of the off-site areas, take a bus to the track, watch the race and head home.
At least that’s my plan at the moment.
the cost of a realy great Tr6 is about $20,000…
Anonymous [squared],
Really? In most cases I would agree with you, but this is a TR6 with 422 miles, exceptionally well preserved.
A premium of even 50% is still only $10,000 for the originality, known history, low miles and quality preservation of this one. I don’t think any Triumph fan could be reasonably criticized for paying $30,000, or even a little more, for it. There is unlikely to be another similar car out there.
But that’s why there are auctions, where the bidders decide and evaluate the cars with their checkbooks.
Rick