Auburn Fall Auction 2010 Report – Auctions America by RM
Report and photos by Rick Carey, Auction Editor
The inaugural Auburn Fall Collector Car Auction by Auctions America was held at Auburn Auction Park on September 2-5, 2010.
It would not be at all understated to say that Auburn Fall 2010 was one of the most anticipated auctions in recent memory. Its realization delivered everything that could have been hoped for, let alone expected.
The background, of course, is the demise of Kruse International.
For Kruse the Auburn Fall sale has long been the signature event and the foundation of the Kruse family’s collector car auction history. Two decades ago Auburn Fall was the largest gathering of collector cars on the planet, overshadowing even Monterey and Scottsdale with acres of cars and a swap meet and vendor area that rivaled Hershey. It drew collectors, dealers and tire-kickers from around the world.
In the last few years that faded into a memory and eventually unpaid consignors led to the auctioneer licenses of Kruse International (permanently) and Dean Kruse (temporarily) being pulled by the state of Indiana in May. Prospects for the 2010 Auburn Fall looked bleak until RM stepped bravely into the breach, bought the real estate and with just 60 days to go announced they’d hold the Labor Day weekend sale.
Talk about audacious….
Boxcar loads of money were spent on the Auction Park including cleaning and painting the inside and outside of pretty much everything that didn’t move, sealing the acres of ageing asphalt, redoing the entry and access roads, rebuilding the interiors of offices and, yes, redoing the restrooms. RM’s crew mastered the intricacies of receiving, verifying and entering hundreds of cars in almost no time at all, dispatching them to predetermined preview spots, establishing the lot order and then finding and bringing the cars to the two auction blocks in order.
Credit Donnie Gould, dropped into the leadership position on moments’ notice, Ken Wallace, charged with consignments for one of the year’s most complicated events, Greg Sparling, managing the event operations, and a supporting cast including many Auburn Auction Park regulars who brought their years of experience to the “Auctions America by RM” team.
It isn’t reasonable to compare the most recent Kruse Auburn Fall with Auctions America by RM’s first, but some numbers are representative of the order of magnitude of the accomplishment of Auctions American by RM. Kruse reported 767 cars last year, selling 309 for a 40.3% sale rate and a $5,774,285 total. Auctions America by RM brought 878 cars to its first Auburn Fall auction, selling 417 for a 47.5% sale rate and a $13,311,160 total.
Arranged, consigned, organized and delivered in two months? It is “A-mazing!”
Auburn Fall Auction 2010 Report – Auctions America by RM
Lot # E302 1982 AMC Concord DL Station Wagon; S/N 1AMCA0854CK148651; White/Beige vinyl; Unrestored original, 3+ condition; Hammered Sold at $2,750 plus commission of 10.00%; Final Price $3,025 -- Incredibly loaded, including automatic, P/W, P/B, AM-FM, P/W, P/locks, cruise, tilt column, cold factory A/C, 6-way P/seat, roof rack, rally wheels, woodgrain trim. Dull original paint, weak chrome, good interior. All original and remarkably well preserved. This is nothing if not a bargain, the kind of obscure and unusual find which has made Fall Auburn a special event in the past. It brought nowhere near as much money as it might have reasonably commanded, an exceptional value in a cute little station wagon.
Lot # E320 1963 Chevrolet Corvair Monza Coupe; S/N 30927W212948; Red/Black vinyl; Unrestored original, 2- condition; Hammered Sold at $21,000 plus commission of 10.00%; Final Price $23,100 — Automatic, radio, wheelcovers, narrow whitewalls. All original museum displayed, nearly like new with 3,136 miles. Good original paint and chrome. Very good upholstery and interior trim with especially sharp dash and instruments. Sharp, freshly detailed engine. A rare and wonderful find. This rare and unusually original and superbly preserved Corvair Monza sold for $17,050 at Barrett-Jackson Scottsdale in January of this year. It’s been cleaned up and detailed since, effort that was rewarded by a noteworthy result here in Auburn. Even at that, though, it is a particularly neat little car and a rare find. It’s expensive but there is unlikely to be another one out there anywhere close to this nice. (picture unavailable).
Lot # E620 1932 Ford High Boy ‘Bamboo Bomber’; S/N OR43172; Matte Grey/Wicker; Original, with non-original appearance items, 3- condition; Not sold at Hammer bid of $20,000 -- 59AB Flathead, Edelbrock heads, Thicksen dual carb intake, Fenton headers, Zephyr gears, Red steel wheels, multi-pane windshield, crudely dropped front axle, no fenders. Rough but built that way. ‘Bamboo Bomber’ rebuilt in 4 days with steel Model A body in resto-rod style with bomber-style 10-mission graphics and nose art copied from a calendar. Sold for $33,000 by RM at Amelia in 2004 right after it was built and again earlier this year at Donnie Gould's RM Ft. Lauderdale auction for $30,800 from John O'Quinn's collection, it's no surprise it didn't sell here at this bid. Lot # E678 1930 Cadillac 370 V-12 Convertible Coupe, Body by Fleetwood; S/N 101039; Silver, Black/Black leather; Black cloth top; Older restoration, 2- condition; Hammered Sold at $119,000 plus commission of 10.00%; Final Price $130,900 -- Chrome wire wheels, whitewalls, dual sidemounts with mirrors, dual remote spotlights, rumble seat, radiator stoneguard, Trippe lights, metal luggage trunk. Very good older restoration still with handsome, sharp cosmetics but not fresh any more and in dated colors. Offered by RM at Meadow Brook in 2004 in much fresher condition than it was presented here, it was a no-sale at $94,000. Nothing has changed except the intervening six years of neglect, the seller should be very happy to get this much for it.
Lot # E687 1954 Plymouth Belvedere Convertible; S/N 13631935; Santa Rosa Coral/Coral, Beige; Tan cloth top; Cosmetic restoration, 3+ condition; Hammered Sold at $39,250 plus commission of 10.00%; Final Price $43,175 — 3-speed, heater, radio, chrome wire wheels, whitewalls, fog lights. Good older paint, chrome and interior. Soiled top. Old undercoat on chassis and overspray on undercoat. Sound and usable but no longer fresh, and not all that good to begin with despite being an AACA National First Prize winner in 2005. Sold by Bonhams at Greenwich in 2008 for $64,350, this cute little Belvedere convertible seemingly has had no attention since then and has just 13 more miles on its odometer. A basically sound car but seriously neglected, it needs plenty of attention and brought all the money today in its present condition. (picture unavailable).
Lot # W315 1957 Chevrolet Bel Air Convertible; S/N VC57N112509; Black/Red, Silver vinyl, White vinyl top; Cosmetic restoration, 3+ condition; Hammered Sold at $66,000 plus commission of 10.00%; Final Price $72,600 -- 283/220hp, 3-speed, P/S, P/B added, spinner wheel covers, whitewalls, cassette stereo, dual rear antennas, chromed window sill cappings. Poor bodywork, erratic gaps. Orderly but not fresh underhood. Fair new interior and chrome. An erratically restored driver. Fair paint with orange real below the beltline. Old undercoat on chassis. Good top and glass. The workmanship and attention this Bel Air has received is neither encouraging nor thorough. On that basis this price is ample and then some.
Lot # W317 1956 Dodge Coronet 2-Dr. Sedan; S/N 35143351; Bright Metallic Blue, White/Blue cloth, White vinyl; Cosmetic restoration, 3- condition; Hammered Sold at $10,100 plus commission of 10.00%; Final Price $11,110 — 2-barrel Red Ram V-8, pushbutton automatic, heater, dual rear antennas but no radio, chrome wire wheels, whitewalls, no P/S or P/B. Fuzzy headliner, gaudy colors, weak chrome inside and out. Scruffy underhood and chassis. Superficially cosmetically restored but definitely eye-catching. This result is appropriate to the attention this car has received, let alone its mundane body style. The seller did well to get this much for it. (picture unavailable).
Lot # W318 1997 Ferrari 355 Spyder, Body by Pininfarina; S/N ZFFXR48A8V0107153; Metallic Dark Green/Tan leather; Black cloth top; Unrestored original, 2- condition; Hammered Sold at $40,000 plus commission of 10.00%; Final Price $44,000 -- 6-speed, A/C, Sony CD stereo. Like new and showing 32,494 probably correct miles. The 308 of the next decade, the value of 355s -- both 6-speed and F1 -- will continue to slide until neglect and abuse thin the pool of supply. They are very good cars and have inherent utility and value that deserves more notice. Lot # W324 1976 BMW 2002 2-Dr. Sedan; S/N 2376188; Silver/Dark Blue vinyl; Visually maintained, largely original, 3+ condition; Hammered Sold at $11,500 plus commission of 10.00%; Final Price $12,650 -- 4-speed, steel wheels with trim rings, blackwall Vredestein tires, fog lights, Pioneer CD stereo, sliding sunroof, ANSA exhaust. Good older repaint, very good original interior. a handsome driver, clean and presentable. This is an appropriate result, with little value assigned to the sunroof. It has the appearance of a well cared-for car and should be a satisfying driver. Lot # W352 1955 MG TF 1500 Roadster; S/N EGTF650; Red/Black leather; Black cloth top and tonneau; Older restoration, 3 condition; Not sold at Hammer bid of $25,000 -- Chrome win wheels, blackwall Michelin radials, cloth covered spare, tubing grille guard, fender mirrors, headlight stoneguards. Presentable older restoration to like new condition with plenty of miles since. Looks like a two year old used car, but an attractive and useable driver. The seller reasonably expected a little more for this TF 1500. Lot # W365 1984 Ferrari Mondial QV Cabriolet; S/N ZFFUC15A4E0049713; White/Park Red leather; Black cloth top; Visually maintained, largely original, 3- condition; Hammered Sold at $18,500 plus commission of 10.00%; Final Price $20,350 -- Alpine cassette stereo, Momo leather rim steering wheels, TRX wheels and tires, A/C. Poor repaint with overspray inside door jambs. Dead, torn window rubbers, scruffy interior quickly spiffed up with lots of Armor All. Scratched bright trim. Odometer says 27,139 miles with a zero in front. The car looks like it should have a 1 there. A car to be avoided. Scrofulous barely begins to describe the nearly despicable condition of this Mondial Cab. It's hard to imagine a 27,139 mile Ferrari that has had such abuse and neglect. The price is reasonable for a decent car but not this one and it will only get more expensive with every passing day. Lot # W377 1931 Ford Model A Victoria Coupe; S/N A4656505; Beige, Maroon fenders and accent/Beige cloth; Cosmetic restoration, 2- condition; Hammered Sold at $21,000 plus commission of 10.00%; Final Price $23,100 -- Red wire wheels, whitewalls, dual sidemounts with chrome bands, trunk, wind wrings, rollup shades on quarter and rear windows, Beige vinyl covered roof and trunk, Sparton horn, quail, radiator stoneguard. A superficial restoration with fair, thick paint, good interior, repainted chassis. Attractive and usable but unimpressive, it has been detailed since Meadow Brook Sold by RM at Meadow Brook from the Art Astor collection in July for $20,350 and treated to a thorough detailing since, the buyer got all the car that money can buy, particularly in this unusual body style. Lot # W394 1922 Buick Series 22-44 Roadster; S/N 781251 (engine); Engine # 781251; Maroon, Black fenders/Black leatherette; Black leatherette top; Older restoration, 3+ condition; Hammered Sold at $17,500 plus commission of 10.00%; Final Price $19,250 -- Wood spoke wheels, whitewalls, opening windshield panes, beveled glass wind wings, pedestal mounted Unity spotlight. Good older paint, interior and nickel and chrome brightwork. Good top except for pinched tear on lift corner. An older restoration that once was like new and now has been freshly detailed. An attractive. Sold by Kruse in Glendale, Arizona in January of this year for $16,500 and benefiting from some modest but thorough attention. The money bought a much better automobile than the same amount applied to a Ford Model T, which begs explanation, but that's the way the market works. Lot # W410 1963 Oldsmobile F85 Cutlass 2-Dr. Sedan; S/N 631C10724; White/Burgundy vinyl; Unrestored original, 3 condition; Hammered Sold at $5,700 plus commission of 10.00%; Final Price $6,270 -- 215 4-barrel ‘Ultra High Compression’ V-8, automatic, wheel covers, narrow whitewalls, buckets, floor shift, heater, pushbutton radio. Decent old repaint, otherwise original, sound, attractive and complete. Dash cut out for a later radio now crudely refitted with the factory AM. Sloppy underhood with some older slap dash engine repaint. An unusual survivor in exceptional condition. One of the pleasures of Auburn Fall, which RM is hoping to re-establish, is the appearance of unusual if ordinary cars like this Olds F85 that makes car collecting accessible to persons of ordinary means. This is a fun car that will reward its new owner with the pleasure of driving and the opportunity to make it better and more enjoyable with little expense and modest effort. It is a good value at the price. Lot # W660 2005 Ferrari F430 Berlinetta, Body by Pininfarina; S/N ZFFEW58A750141879; Red/Tan leather; Unrestored original, 2- condition; Not sold at Hammer bid of $122,500 -- 6-speed, adjustable suspension, CD changer, red calipers, carbon fiber dash vents. Very clean used car. Lot # W686 1969 Ferrari 365 GT 2+2 , Body by Pininfarina; S/N 11835; Engine # 11835GT; Red/Black leather; Visually maintained, largely original, 3- condition; Not sold at Hammer bid of $75,000 -- Chrome spoke Borrani wire wheels, 215/70VR15 Michelin XWX blackwalls, P/S, P/B, A/C, Pioneer cassette stereo. Fair repaint, good older interior, pitted interior chrome. Orderly but aged and used underhood. Thin exterior chrome. A reasonably well maintained but unimpressive Queen Mother. Talk about auction history, this car has it. Offered by Russo and Steele at Monterey in 2008, it was a $90,000 no-sale. Tried again at Kruse's Boca Raton auction in January 2009 and no-saled at $85,000. Worldwide took a shot here in Auburn a year ago but it fell short at $66,000, then it got a turn at Mecum's Monterey auction just a few weeks ago, again a no-sale at $95,000. The Worldwide result, $66,000, is the most realistic of the five and if there was money anywhere near today's $75,000 bid it should have been off like a shot to a new home. Lot # W731 1969 Chevrolet Camaro Z/28 2-Dr. Hardtop; S/N 124379L525133; Hugger Orange, Black stripes/Black vinyl; Recent restoration, 3+ condition; Hammered Sold at $60,000 plus commission of 10.00%; Final Price $66,000 -- 302/290hp, 4-speed, P/S, P/B, Be Cool aluminum radiator, Rally wheels with trim rings, Goodyear Wide Tread GT tires, cowl induction hood, pushbutton radio, console gauges. Good paint, chrome and interior. Clean and sharp underhood but very disappointing dashboard and gauges don't look like they've been touched. Chassis only partially done and still has old chipped undercoat inside rear wheel wells. Disappointing. The inherent Z/28-ness of this Camaro has been pretty much smudged over by the modifications and the attention to the rest of the car is superficial. This is, on balance, a generous price for its specifications, equipment and presentation. Lot # W750 1934 Duesenberg Model JN Convertible Sedan, Body by Rollston; S/N 2601; Engine # J-570; Eggplant/Dark Red leather; Tan cloth top; Older restoration, 3+ condition; Hammered Sold at $875,000 plus commission of 10.00%; Final Price $962,500 -- Chrome wire wheels, whitewalls, dual sidemounts with chrome bands, polished aluminum trunk rack. An old concours restoration that has been toured and shows it with stone chips, nicks and wear. Chassis is dusty and used. Needs nothing to be toured with pride but a lot before it is shown again. No number on frame. A late car with open coachwork on the JN frame, reputed to be largely correct. Offered at Auburn Fall last year where it was run to a reported, but highly suspect, bid of $1,700,000 with no evidence of any interest at all, then sold at the Kruse auction in Glendale, Arizona in January for $792,000 in essentially the same condition as it is in today. A handsome example of Rollston's coachwork, on the JN chassis (even if the frame has no evidence of a number) the new owner got a great tour car for a price that is fair to both the buyer and the seller. Lot # W768 1973 Ferrari 365 GT4 2+2 , Body by Pininfarina; S/N 17393; Metallic Bronze/Tan leather; Visually maintained, largely original, 4+ condition; Not sold at Hammer bid of $32,000 -- 5-speed, Becker Monza cassette, A/C, alloy wheels, leather rim Momo steering wheel. Poor old repaint with bad adhesion, cracks in corners and stress points. Dirty interior, mangy seat and shoulder belts. Grungy underhood with very clean carburetors. A maintenance nightmare waiting to be settled up. Prior auction appearances of this car reflect its neglect. No-sale at Worldwide Hilton Head in 2008 for $35,000, no-sale at Dave Rupp's Ft. Lauderdale auction in January '09 and at Branson Fall in September '09 at $42,000. It is a lot of work and headaches waiting to be taken on. The reported bid here is a responsible offer for it. It isn't getting any better with age. Lot # W792 1957 Jaguar D-type Replica ; S/N 0547L74968; BRGreen/Green leather; Non-factory replica, 3+ condition; Hammered Sold at $56,000 plus commission of 10.00%; Final Price $61,600 -- RHD. Polished Dunlop-style centerlock wheels, driver's head fairing and fin, dual wraparound windscreens, hard passenger's tonneau, halogen headlight, single Hella driving light. Short nose aluminum body, 4.2 liter/300hp, Webers, 5-speed. Replica of XKD 525 built for the original D-type's former owner. Good paint and interior but obviously many more miles than the 362 showing on the odometer. Described here as a ‘Long Nose’, but obviously not. This handsome D-type replica brought $100,100 at RM's Monterey auction in 2004, at the time a record price for its type, but supported by its sharp, fresh presentation. That is no longer the case and, although free from any obvious accident damage, it is in serious need of some good, consistent attention. The new owner bought it at the right price and should find it a very enjoyable tour car.
The inaugural Auburn Fall Collector Car Auction by Auctions America was held at Auburn Auction Park on September 2-5, 2010.
