Auburn Auction Report 2010 – Worldwide Auctioneers

Report and photos by Rick Carey, Auction Editor

Worldwide Auctioneers held their “The Main Event” Auburn Auction on September 4, 2010 at the Worldwide Headquarters in Auburn, Indiana.

Worldwide Group’s ambitious response to the demise of Kruse International, a 3-day auction at Worldwide’s headquarters midway between Auburn and Ft. Wayne, was anchored by the third year of their Auburn catalog sale, now distinguished from the consignment part of the sale with the title “The Main Event”.

Appropriately, one of the cars was a beautifully restored Packard Single Six Touring once owned by the family of famed pugilist “Gentleman Jim” Corbett.

Held on Saturday evening, The Main Event followed a successful three-day consignment auction, especially on the final day, Saturday, when auctioneer John Kruse was on the block and knocking down car after car. Last year’s Auburn Auction catalog sale had been disappointing, mired in the uncertainty of developments up the road at Kruse and the lingering malaise of the country’s financial upheaval. This year put it back on track to be one of the auction calendar’s main events.

Worldwide Auctioneers
Cars Offered / Cars Sold
Sale %
Sold < Low Est
Sold > High Est
Average Sale
Total Sales
Chg from prior year
2010
74 / 42
59.5%
88.1%
2.4%
$102,700
$4,518,800
84.72%
2009
81 / 33
40.7%
93.6%
-
$74,130
$2,446,290
-74.94%
2008
77 / 52
67.5%
67.5%
2.0%
$187,684
$9,764,684

Worldwide gathered a diverse, interesting, intriguing consignment of cars to The Main Event, something for pretty much every collecting taste from a delicious little Isetta with a trailer through some spectacular sports, muscle and GT cars, an intriguing collection of antique and brass cars, winding up with several magnificent classics with beautiful coachwork. It made for a milestone event.

1940 Cadillac Sixty Special 4-Dr. Sedan
Lot # 01 1940 Cadillac Sixty Special 4-Dr. Sedan; S/N 6324418; Two tone Grey/Grey cord, Dark Grey leatherette; Estimate $30,000 - $50,000; Older restoration, 3+ condition; Hammered Sold at $23,000 plus commission of 10.00%; Final Price $25,300 -- Turn signals, radio, dual sidemount enclosures, Cadillac fog lights, dual outside mirrors. Sound but not exceptional repaint, fair chrome including some rechrome over old pits, good upholstery and interior trim. Chassis redone like new with a few subsequent miles and years. An attractive and usable but not show quality car. No Reserve. Sold at Kruse Auburn in 2002 for $20,405, a result which is consistent with its price today. The restoration is holding up very well, with just 177 more miles on the odometer than it had eight years ago, and it is such an attractive design it is an astute acquisition.
1959 Mercedes-Benz 190SL Roadster
Lot # 02 1959 Mercedes-Benz 190SL Roadster; S/N 121042109502178; Engine # 121921109502198; Black/Red leatherette; Black cloth top; Estimate $60,000 - $70,000; Visually maintained, largely original, 3 condition; Hammered Sold at $54,500 plus commission of 10.00%; Final Price $59,950 -- Body # 9500972. Solex carbs, Becker Avus radio, whitewalls, trim rings, hubcaps. Very good, bright new exterior chrome, attractive instruments and dashboard. Decent older repaint and sound interior, otherwise a clean unrestored car that will be a very attractive driver. This is an appropriate result for a sound and largely unrestored 190SL.
1995 Ferrari F512 M
Lot # 03 1995 Ferrari F512 M, Body by Pininfarina; S/N ZFVG40AXS0100094; Engine # 37695; Yellow/Black leather; Estimate $160,000 - $180,000; Unrestored original, 2- condition; Not sold at Hammer bid of $125,000 -- A/C, no radio. One of two cars used by Ferrari for press reviews and only 501 U.S. models of the 512 M. Assembly #17387. Tubi exhaust. 19,578 miles and nearly like new. The reported high bid was reasonable for this car with its miles and the abuse which a succession of heavy-footed scribblers have inflicted. The Ferrari NA press history is of little significance.
1936 Cord 810 Westchester
Lot # 04 1936 Cord 810 Westchester; S/N 1145A; Engine # FB1027; Light Grey/Dark Blue cloth; Estimate $75,000 - $85,000; Cosmetic restoration, 3- condition; Hammered Sold at $41,000 plus commission of 10.00%; Final Price $45,100 -- Radio, heater, chrome large wheel covers, wide whitewalls. Body # C90 1215. Mediocre old repaint over old paint and now showing age, sound interior, fair chrome. Dirty, mostly original and unattractive chassis. A mediocre and rather scary driver. Charismatic and still attractive examples of the great Cord 810/812 design, Westchesters (with split rear seat) and Beverlys (with no armrest) are economical ways to join the many activities of the A-C-D Club. The price this one brought is more than enough for its disappointing condition.
1908 International Model D High Wheeler
Lot # 05 1908 International Model D High Wheeler; S/N 962D; Black, Red fenders and frame/Black leatherette; Black leatherette top; Estimate $40,000 - $50,000; Unrestored original, 3- condition; Hammered Sold at $30,000 plus commission of 10.00%; Final Price $33,000 -- RHD. Wheel steering, double chain drive, Yellow wood spoke wheels. Includes top and frame. Two owners from new with some old cosmetics but otherwise a fairly clean and very orderly barn find. No Reserve. This is a reasonable price for a vehicle that is more significant (and valuable) for its survivorship than for its inherent significance. It is more a curiosity than an important collector car.

Lot # 06 1955 Chevrolet Bel Air Convertible; S/N VC57A054912; Gypsy Red, Shoreline Beige/Red, Beige vinyl; Tan vinyl top; Estimate $100,000 – $120,000; Recent restoration, 1 condition; Hammered Sold at $95,000 plus commission of 10.00%; Final Price $104,500 — 265/162hp, Powerglide, P/S. P/B, WonderBar radio, wire wheel covers, whitewalls, oil filter, hockey stick sill moldings. Freshly restored and better than new. This car drove out of the restoration shop, into the transporter and from there to the auction preview. The restorer spent the preview polishing and primping it, the best way to instill confidence in bidders. A few more miles might have helped reassure bidders that everything worked and might have improved their willingness to keep bidding. (picture unavailable).

1970 Maserati Ghibli Coupe
Lot # 07 1970 Maserati Ghibli Coupe, Body by Ghia; S/N AM1151504; Red/Parchment leather; Estimate $75,000 - $95,000; Visually maintained, largely original, 3+ condition; Hammered Sold at $49,000 plus commission of 10.00%; Final Price $53,900 -- Alloy wheels, blackwall tires, A/C. Decent paint, chrome and upholstery. Clean chassis with old undercoat. The Ghibli gives Daytona performance in a better looking, better built package. At a fraction of Daytona money, what's not to like?
1921 Napier T75 40/50hp Gentleman's Roadster
Lot # 09 1921 Napier T75 40/50hp Gentleman's Roadster; S/N 17607; Engine # 25331; BRGreen/Black leather; Estimate $90,000 - $120,000; Rebodied or re-created, 3+ condition; Not sold at Hammer bid of $65,000 -- RHD. Yellow wire wheels. Tapley meter, Napier clock and speedometer, Metreta fuel gauge, opening windshield panel. Crude body with four bucket seats. Mostly nickel brightwork. Quick repaint on wood, but good paint on metal panels. Good upholstery. No doubt a lot of fun to drive but no history and not much to look at. The appeal of this car is all in its mechanics and little in its appearance or its (nonexistent) history. It's hard to argue with the consignor's decision to keep it, but equally hard to contest the bidders' decision to stop here.
1939 Ford K-8 Wilcox Special Race Car
Lot # 10 1939 Ford K-8 Wilcox Special Race Car; S/N N/A; Orange, White ‘H.C. Wilcox’ #23/Black; Estimate $35,000 - $45,000; Competition restoration, 2+ condition; Hammered Sold at $21,000 plus commission of 10.00%; Final Price $23,100 -- Excellent paint, chrome and upholstery. Rear wheel mechanical brake, Offenhauser heads, Edelbrock dual intake, 3-speed gearbox, Halibrand quick change axle, transverse leaf spring chromed suspension. Better than new. A period built race car with some history including being displayed at Dearborn as part of Ford's Centennial in 2001. No Reserve. Usable in all sorts of events and more than a conglomeration of parts, this flathead-powered car is very nicely restored and presented and is a very good value at the price.

Lot # 11 1957 Rolls-Royce Silver Cloud I 4-Dr. Sedan; S/N SDD6; Black, Silver/Black leather; Estimate $70,000 – $90,000; Cosmetic restoration, 3+ condition; Not sold at Hammer bid of $50,000 — RHD. Fog lights, fender mirrors, picnic tables, original radio, wide trim rings, narrow whitewalls. Good new paint and excellent upholstery with only a little stretch on the driver’s seat. Weak trim chrome. As good as it is, it’s no better than the reported high bid. (picture unavailable).

Lot # 12 1926 Stutz Model AA 4-Dr. Sedan; S/N AA80397; Engine # 80392; Black, Red accent/Dark Red cloth; Estimate $50,000 – $60,000; Older restoration, 3+ condition; Hammered Sold at $40,000 plus commission of 10.00%; Final Price $44,000 — Red centerlock wire wheels, blackwall tires, dual sidemounts with mirrors, side window glass visors, metal luggage trunk, pulldown shades on rear and quarter windows. Good repaint, chrome, upholstery and interior wood. ‘Safety’ windshield with thin wire reinforcements. Not a show car but a more than attractive tour car. Formerly owned by ‘The Racing Stutz’ author Mark Howell, then by Paul Freehill. Believed to be the second-oldest surviving Stutz Vertical Eight. Featured in AQ. This is a significant car and it found a new home here at a fair price. (picture unavailable).

Lot # 13 1957 Dual-Ghia DG Convertible, Body by Ghia; S/N 134; Red/Tan leather; Tan top; Estimate $190,000 – $220,000; Recent restoration, 1 condition; Hammered Sold at $155,000 plus commission of 10.00%; Final Price $170,500 — Concours restoration on a rust free western car. Class winner at the Louisville Concours in 2008. Changed hands at a price that was fair to both the buyer and the seller. (picture unavailable).

Lot # 14 1931 Pierce-Arrow Model 42 Convertible Coupe; S/N 335440; Silver-Grey, Burgundy fenders and accent/Maroon leather; Tan cloth top; Estimate $200,000 – $250,000; Recent restoration, 2+ condition; Not sold at Hammer bid of $145,000 — Rumble seat, chrome wire wheels, dual sidemounts with cloth covers and mirrors. Excellent paint, chrome, interior and top. Restored to concours standards a few years ago and still in show-ready condition although with somewhat dated colors. Reported sold by RM at Amelia Island earlier this year for $205,000, it’s no surprise the consignor didn’t consider the high bid here sufficient to compensate for the car. (picture unavailable).

1932 Cadillac 452 V-16 Imperial Limousine
Lot # 18 1932 Cadillac 452 V-16 Imperial Limousine, Body by Fleetwood; S/N 1400200 (engine); Engine # 1400200; Dark Blue/Black leather, Tan cloth; Estimate $160,000 - $180,000; Unrestored original, 3 condition; Hammered Sold at $125,000 plus commission of 10.00%; Final Price $137,500 -- Dual sidemounts, whitewalls, jump seats, floor heater, smokers' kits. Presidential seal radiator cap. Scratched, thin old paint, good reupholstered leather and original cloth. Bought by President Herbert Hoover just before he left the White House and kept by him for some time. Discovered recently in a Vallejo, California storage building, mechanically gone through but not rebuilt or even opened up and runs and drives well. A high quality automobile with an intriguing history that substantially enhances its value, it brought a modest price that has potential to be turned into more and is well bought at this price.
1999 Duesenberg II Disappearing Top Torpedo Phaeton
Lot # 19 1999 Duesenberg II Disappearing Top Torpedo Phaeton; S/N 1ETTW22B3XDJ02430; Dark Blue/Grey leather; Beige cloth top; Estimate $100,000 - $125,000; Unrestored original, 3+ condition; Hammered Sold at $160,000 plus commission of 10.00%; Final Price $176,000 -- Chrome wire wheels, whitewalls, dual sidemounts, dual Unity Sportlites, dual windshields. Speedometer, compass and clock in rear compartment. Fair paint on fiberglass body. Good upholstery showing age and use, good chrome. Clean red painted chasses and underbody. An attractive car for tours. A remarkable price.
1934 Packard 1107 Twelve Coupe
Lot # 20 1934 Packard 1107 Twelve Coupe; S/N 73826; Dark Blue/Dark Blue leather; Estimate $300,000 - $350,000; Older restoration, 3+ condition; Not sold at Hammer bid of $240,000 -- Beige wire wheels and fine parallel coachlines, dual enclosed sidemounts with mirrors, rollup rear window, opening windshield, rumble seat, trunk rack, vee lens Solar headlights, Trippe lights. Good older paint, chrome, upholstery, interior wood and glass. 1964 AACA National First Prize, CCCA National First Prize winner. Some stress cracks in paint and the chassis is gritty and dirty from touring but the car is beautiful and still presentable enough to be toured with pride. Surprisingly good, clean and well maintained under the hood for its age and a very appealing car. Cataloged as a 147’ wheelbase 1108 but measured out on-site at 142’ and a 1107. If this had been an 1108 it would have been an extremely rare example with this coachwork. As it is, it is a lovely car with excellent performance and a real standout on tours that would have been a good value at the reported high bid, and still a sound buy at something a little more than this bid.
1959 DeSoto Firedome Convertible
Lot # 21 1959 DeSoto Firedome Convertible; S/N M431110592; Bimini Coral, French Grey Metallic/Grey vinyl, cloth; Black vinyl top; Estimate $95,000 - $120,000; Recent restoration, 2+ condition; Hammered Sold at $97,500 plus commission of 10.00%; Final Price $107,250 -- 383/305hp, TorqueFlite automatic, P/S, P/B, wheel covers, whitewalls, pushbutton radio, dual rear antennas, swing out front seats with folding center armrest, dual mirrors. Beautifully restored in like new condition with excellent paint, chrome and interior. A gorgeous, striking car in fabulous colors. Sold at Barrett-Jackson Scottsdale in 2001 for $52,920 in freshly restored, better-then-new condition, then again at B-J Scottsdale in 2003 for $48,060. It has been meticulously maintained with just over 500 more miles on the odometer today than it had in 2001. It is wonderfully liveried in brilliant Fifties colors and has much going for it including, now, a very healthy price history. Few cars can boast this kind of price appreciate over the last seven years.
1968 Lamborghini Miura
Lot # 27 1968 Lamborghini Miura, Body by Bertone; S/N 3330; Prototipo Orange, Silver sills and wheels/Black leather; Estimate $400,000 - $500,000; Recent restoration, 2- condition; Hammered Sold at $350,000 plus commission of 10.00%; Final Price $385,000 -- Freshly restored with excellent paint and interior. Upgraded to SV split sump configuration, stainless steel exhaust system, chin spoiler added. Shows some use in reportedly 600 miles since it was done with a few nicks and chips but otherwise better than new. This is a curious vehicle that shows some surprisingly casual attention to its care and use since it completed a stunning restoration, like scratched up wheels and some small stone chips. The price it brought recognizes the brilliant paint and caliber of the rebuild materials and workmanship. In the framework of Miura prices it appears to be expensive, but there are many reasons why the bidders chased it this far.
1933 Auburn 8-101A Convertible Cabriolet
Lot # 28 1933 Auburn 8-101A Convertible Cabriolet; S/N 3101F; Engine # GU71267; Red, Cream accents/Brown leather; Estimate $110,000 - $130,000; Older restoration, 2- condition; Hammered Sold at $116,000 plus commission of 10.00%; Final Price $127,600 -- Cream wire wheels, whitewalls, dual sidemounts with mirrors, Pilot-Rays, rumble seat, steel luggage trunk, radiator stoneguard. Very good older paint, chrome and interior. ACD Category 1 certified original driveline, engine, chassis. Displayed for many years at the ACD Museum and a worthy example of the marque. Sold here last year for $111,100 in a post-block transaction and showing only 15 more miles on the odometer today, an attractive, comfortable, usable Auburn with a quality restoration holding up very well. Its ACD Museum history stands its quality in good stead and it is a sound value for the money.
1934 Packard 1107 Twelve Phaeton
Lot # 29 1934 Packard 1107 Twelve Phaeton; S/N 11834; Vermillion, Grey fenders and accent/Tan leather; Tan cloth top; Estimate $325,000 - $375,000; Older restoration, 1- condition; Post-block sale at $165,000 plus commission of 10.00%; Final Price $181,500 -- Chrome spoke wire wheels, wind wings, whitewalls, spotlight, dual sidemounts with mirrors, metal trunk, Trippe lights, dual windshield wipers, high speed axle. Excellent paint, chrome, top and upholstery. CCCA National First Prize #1514, AACA National First Prize in 2004. A quality older restoration that is no longer fresh but is still outstanding. An excellent car, with no uncomfortable stories, even with the standard coachwork (instead of LeBaron or Dietrich badged design) this is a very good buy for the new owner in a car that will proudly be driven and shown.
1954 Watson Offenhauser Indy Roadster
Lot # 30 1954 Watson Offenhauser Indy Roadster; Yellow ‘Bob Estes Special’/Red leather; Estimate $400,000 - $600,000; Competition car, original as-raced, 3- condition; Not sold at Hammer bid of $310,000 -- 4-wheel disc brakes, red painted Halibrand centerlock wheels, 8.00-18, 7.60-16 front Firestones, tube shocks, chorine suspension. 270 Offy with Drake Engineering injection, electric starter. Original car with tired but sound old paint, good newer upholstery, flaking chrome. Built by A.J. Watson and 'Dub' Phillips for Bob Estes, the first Watson Roadster built. 7th at Indy in 1954 and 3rd in 1956 both driven by Don Freeland. Driven during the 500 Festival Carb Day parade laps in 2009. This is a significant Indy Roadster, but not as significant as the owner's value expectations.
1957 BMW-Isetta 300 Coupe
Lot # 31 1957 BMW-Isetta 300 Coupe; S/N 501295; Blue, White/Grey vinyl; Estimate $35,000 - $45,000; Recent restoration, 2+ condition; Hammered Sold at $27,500 plus commission of 10.00%; Final Price $30,250 -- Luggage rack, folding sunroof, bumper overriders, dual taillights and folding sprung wheel trailer by Germain Lejour. Excellent paint, chrome, upholstery and glass. Better than new as demonstrated by being Best in Show award winner in the Microcar and Minicar Club. No Reserve. Sold by RM at Amelia Island in 2008 for $34,100 in essentially the same, better than new, condition as it is now and with the cute little trailer. The two results are close enough that one reinforces the other and the transaction amounts represent a reasonable measure of the market.
1958 Chevrolet Bel Air Impala Convertible
Lot # 32 1958 Chevrolet Bel Air Impala Convertible; S/N F58F153302; Engine # T905FB; Light Blue/Blue vinyl; Blue vinyl top; Estimate $90,000 - $120,000; Recent restoration, 2- condition; Hammered Sold at $65,000 plus commission of 10.00%; Final Price $71,500 -- Automatic, pushbutton radio, spinner wheel covers, whitewalls, P/S, P/B, 348/315hp Tri-Power. Very nice paint, chrome, interior and top. Not like new, but a sound and usable restoration. Offered by RM in Monterey in 2009 where it brought a high bid of $75,000 but didn't sell. It was sold by RM just few months ago in San Diego for $62,700 and turned a modest profit here, although probably breakeven after entry fees and transportation. The buyer got an attractive big block Impala in good colors for a reasonable price.
1921 Renault JP Model 45 Town Car, Body by Kellner
Lot # 33 1921 Renault JP Model 45 Town Car, Body by Kellner; S/N 101100; Maroon, Black/Black leather, Brown cloth; Estimate $375,000 - $475,000; Unrestored original, 3- condition; Not sold at Hammer bid of $240,000 -- RHD. Dual sidemounts, wood spoke 820x120 blackwall tires. Missing one gauge. Old repaint over old paint, original rear compartment trim with elaborate inlaid wood trim, hat net, rollup divide, pulldown shades, roof fence luggage rack and more. Aged and used but thoroughly charming. Surely suitable for Preservation class display, running and driving well, and supremely rare, this patrician Renault is a fitting ride for the King of Paris ... or any other King of society, finance or politics. Its condition leaves a lot to be desired but is similarly well preserved and complete and it has beautiful interior appointments. Price? I would not presume to judge either the reported high bid or the auction estimate.