Barrett-Jackson, WestWorld, Scottsdale, Arizona, The Pratte Collection, Saturday, January 17, 2015
The thirty premier cars in Ron Pratte’s collection crossed the Barrett-Jackson auction block in Prime Time early Saturday evening.
There were high expectations, not only on account of B-J’s heavy promotion of the collection but also because these were vehicles that had headlined many prior Barrett-Jackson auctions, some selling for eye-watering prices making their re-sale something of a test … of the market, of the power of the Ron Pratte collection’s provenance and of Barrett-Jackson’s ability to market successfully an important collection within the context of its 1,600+ vehicle Scottsdale docket. All eyes in Scottsdale were firmly focused on the WestWorld auction block.
Half the Saturday Pratte cars were sold with reserve prices, in contrast to Barrett-Jackson’s usual No Reserve consignments, but that wasn’t the only departure.
The usual docket would save the most important vehicles for the end, drawing bidders into the room and leading them up to a momentous conclusion. Instead, Barrett-Jackson put the two headline lots – the Pontiac Bonneville Special concept car and the famous GM Futurliner Parade of Progress ‘bus’ – up for auction first.
It proved to be one of the most astute, effective maneuvers in collector car auction history. Stage managed to perfection, the Bonneville Special sold quickly on a telephone bid of $3 million, a bit more than the $2.8 million hammer bid it brought when Pratte bought it in 2006. That’s $3.3 million with commission in 2015 against $3,024,000 in 2006.
The Futurliner was next, and it was a challenge, having brought an entirely unexpected $4 million hammer, $4,320,000 with commission, in 2006. Pratte and Barrett-Jackson cleverly made it a No Reserve transaction with all the proceeds going to charity, in this case the Armed Forces Foundation, positioning it to attract the most attention and ameliorate bidders’ reticence.
The planning and preparation were rewarded when the Futurliner sold for the same $4 million hammer bid it brought in 2006. Barrett-Jackson waived the buyer’s commission, making its own contribution to the excitement and the cause.
The generosity of Ron Pratte – a regular at paying heedless prices for cars sold to benefit good causes – was once again on display, but this time reversing the trades. Yet, on balance the cars Pratte bought with proceeds to charity still brought superior money upon resale at Barrett-Jackson Scottsdale.
And on older vehicles, most particularly the Futurliner, the stewardship Pratte displayed during his ownership was evident: the vehicles were never better than they were coming out of his collection.
Having demonstrated the pull of the Ron Pratte collection provenance with the first lots of the session Barrett-Jackson moved on, with results that continued to be satisfying, if not amazing. The halo effect was established and spread itself across the cars that followed.
A summary of the Saturday Prime Time Pratte Collection cars follows, with prior sales noted, but the story – for those who follow the collector car auction market – is deeper. With the liquidation of Ron Pratte’s collection Barrett-Jackson established itself as an effective venue for the disposition of a noted collection. They achieved success on Tuesday, then backed it up on Saturday with the collection’s stars, demonstrating that even in a thousand-plus car auction setting a collection with a high profile collection of quality cars can achieve resounding results.
[Sidebar: Why is Ron Pratte selling? His interests, according to a conversation with Craig Jackson, have changed. He is now focused on off-roading in Hot Well Dunes where he has a new 480 acre spread with a fleet of sand rails and Honda Odysseys and a lake home at Coeur d’Alene. Flying takes another chunk of time. Ron spent a total of four days in 2013 in his car collection and museum in Chandler. A realistic guy, four days isn’t enough to justify a permanent facility and staff. Conclusion: They’re gone.]
Lot # 2500 1954 Pontiac Bonneville Special Motorama Concept Car; S/N 50175932; Metallic Green/Metallic Green; Older restoration, 1 condition; Hammered Sold at $3,000,000 plus commission of 10.00%; Final Price $3,300,000. With Reserve – GM Motorama concept car. – Redone to very good standards of fit and finish. New brushed aluminum window moldings. Very good interior. Ron Pratte collection. – Barely a minute on the block, sold to a phone bidder with little if any bidding activity visible at WestWorld. This is slightly better than the $2.8 million ($3.024 million with commission) the Bonneville brought nine years ago when Ron Pratte bought it here.Lot # 2501 1950 General Motors Futurliner Parade Of Progress Tour Bus; S/N 11; Red, Polished aluminum, White; Recent restoration, 2 condition; Charity sale at $4,000,000, no commission; Final Price $4,000,000. No Reserve – Parade of Progress US Royal whitewall tires. – Thoroughly gone through since its acquisition here in 2006 and brought to high standards of fit and finish. Still powered by the later engine, but now essentially fully functional and suitable for rolling display. The display is liveried in the same green as the Pontiac Bonneville Special displayed in it during Ron Pratte’s ownership. The star of this year’s Barrett-Jackson. Proceeds to the Armed Forces Foundation. Ron Pratte collection. – Much heralded and maybe even more heavily promoted than nine years ago when it set the auction world ablaze. Craftily positioned with all proceeds to charity for maximum effect, the bidding slowed, then took off when a phone bidder (the buyer of the Pontiac Bonneville Special?) entered the fray against Rick Hendrick and brought it to this remarkable level. Hammered sold quickly upon hitting this bid, but still the star of the show.Lot # 2503 1953 Buick Roadmaster 4-dr. Sedan; S/N V1317897; Pastel Blue, Seafoam Green roof/Blue, Beige cloth; Unrestored original, 3 condition; Hammered Sold at $100,000 plus commission of 10.00%; Final Price $110,000. With Reserve – Howard Hughes’s Roadmaster with 24 volt electrically-powered A/C system (the engine is almost hidden by the generator and compressor), sealed doors firewall, trunk and windows, dust and bacteria trap filtration. 5.380 miles, stored 20 years until discovered by Brian Jackson. Runs, drives and the A/C works. Completely original and as-used by Hughes. Ron Pratte collection. – Cleaned up and well-maintained in Ron Pratte’s collection since it was bought at B-J Palm Beach in 2005 for $1,620,000, it fell on its face here, overshadowed by the Bonneville Special, Futurliner and Super Snake from the Pratte collection. The result is unfortunate for a significant car with special history, but a serious value for the new owner.Lot # 2505 1912 Packard ATD Sightseeing Bus; S/N 32548; Packard Blue, Grey accent, Black hood and fenders/Black leather; Concours restoration, 1 condition; Hammered Sold at $450,000 plus commission of 10.00%; Final Price $495,000. With Reserve – RHD. 432 cubic inch inline four, 3-speed, double chain drive. Light Grey wood spoke wheels, Grey accent, Red coachlines, dual rear wheels, solid tires, Solar acetylene headlights, Solarclipse acetylene spotlight on firewall, kerosene sidelights, seven bench seats each wide enough for five or six passengers, Sterling clock, canopy roof with brass posts, bulb horn. Sequential shift gearbox. double chain drive. – Show car quality, maintained that way and impeccable. Ron Pratte collection. – Sold at Gooding & Company’s 2006 auction of the Otis Chandler collection for $429,000, a superb example built for touring the Yosemite Valley before Teddy Roosevelt established the National Park Service, then restored and used in the Rose Bowl Parade and at Pebble Beach, the only known survivor. Priced per pound, it’s the best value at Barrett-Jackson but the Reliable Transport guys were driven to distraction trying to figure out how to haul it.Lot # 2507 2007 Blastolene B-702 Custom Roadster; S/N OR82122; Not evaluated, 1 condition; Hammered Sold at $500,000 plus commission of 10.00%; Final Price $550,000. With Reserve – The mechanical and technical details on this machine are marvelous but its real importance is that it is a work of art, creatively detailed and meticulously built. The engine is a 702 cubic inch GMC truck V12. Chrome transverse leaf front suspension, disc brakes, gorgeous paint, upholstery, soft trim, chrome and everything else. A joy to examine, with abundant details to make examination a fully involving experience for hours. At 19.5 feet long and 7’10” wide there’s plenty of Blastolene to go around, and plenty of grunt to make it go fast. Ron Pratte collection. – Bought here in 2008 for $522,500, the hammer dropped today as soon as the bid went to $500k.Lot # 2508 2005 Ford GT Coupe; S/N 1FAFP90S75Y400003; Quicksilver/Black; Unrestored original, 2- condition; Hammered Sold at $550,000 plus commission of 10.00%; Final Price $605,000. No Reserve – 5.4/550hp, 6-speed, Ford’s road test car for the introduction of the GT in 2004-5. – Featured in some 16 magazine articles, accompanied by brochures signed by the writers who tested it and a complete package with show history and build sheets. The third GT built (Ford owns the first and former Ford director Michael Dingman the second). Carefully prepared and maintained, if a little journalist-used. Ron Pratte collection. – It was showtime when this Ford GT rolled onto the 2006 B-J West Palm Beach auction block with Carroll Shelby inside, backed up with a full team of Ford guys. To sweeten the deal threw in Carroll Shelby’s black hat (which was not part of the deal here in Scottsdale) and sold the car for charity for a whopping $572,400. The price here, for a car with real history (at least in the press) is modest considering that ‘ordinary’ Ford GTs are today bringing well over $400K. Woulda been nice to have the hat, though.Lot # 2509 1966 Shelby Cobra 427 ‘Super Snake’ Roadster; S/N CSX 3015; Older restoration, 2- condition; Post-block sale at $4,650,000 plus commission of 10.00%; Final Price $5,115,000. With Reserve – Twin superchargers, chrome side exhausts, alloy centerlock wheels, automatic, chrome paperclip rollbar. – One of two dual supercharged big block Cobras, the other was built for Bill Cosby and has been destroyed. This one was built for Carroll Shelby at the same time as Cosby’s. Excellent paint, interior and chrome. Clean and close to show quality underhood, showing some age and use. Ron Pratte collection. – Bid to $4.7 million on the block, closed later in the evening at this somewhat lower price, a tad less than Ron Pratte paid for it here at B-J Scottsdale in 2007, but then it was the star of the show and today it had to contend with the rest of the Ron Pratte collection as well as a vastly enhanced Salon Collection of high-dollar cars. On that basis it should be considered fully valued at this price, or the beginning of a legend.Lot # 2510 1949 MG TC Roadster Race Car; S/N TC8335; Engine # XPAG9042; BRGreen/Green leather; Tan cloth top; Competition restoration, 2 condition; Hammered Sold at $495,000 plus commission of 10.00%; Final Price $544,500. No Reserve – RHD. Carroll Shelby’s first race car. Silver painted wire wheels, cycle front fenders, oil filter, braced roll bar, dual SU carbs, aeroscreens, bucket seats, banjo spoke steering wheel, tube headers. – Driven by Shelby at Norman, OK in May 1952 to wins in two races. Restored to very high standards and very well maintained to near show car standards. Ron Pratte collection. – Sold at B-J’s Las Vegas auction for $313,500 in 2008 when it was a feature car in the auction. Its profile was less prominent this year among all the Ron Pratte cars, but it still outdid its result seven years ago, and by a healthy margin, lending enormous credence to the power that Carroll Shelby provenance still wields over collectors in the U.S.
Barrett-Jackson Pratte Collection 2015 – Saturday Auction Report Page Two
Lot # 2511 1969 Shelby Mustang GT500 Convertible “Carroll Shelby’s”; S/N 9F03R482847; Red/White vinyl; White vinyl top; Older restoration, 2 condition; Hammered Sold at $500,000 plus commission of 10.00%; Final Price $550,000. With Reserve – 428/335hp, automatic, tilt column, AM-FM, 10-spoke alloy wheels, blackwall tires. – Owned by Carroll Shelby since it was new until purchased by Ron Pratte. Freshly restored in September 2007 to like new condition and above reproach. Ron Pratte collection. – Sold here at WestWorld by B-J in 2008 for $742,500 with Shelby in attendance, there is little to argue about this GT500’s condition, history or price.Lot # 2512 1967 Shelby Mustang GT500 Fastback; S/N 67402F2U00943; Midnight Metallic Blue, White stripes/Parchment; Older restoration, 2+ condition; Hammered Sold at $400,000 plus commission of 10.00%; Final Price $440,000. No Reserve – Dual quads, 4-speed, P/S, P/B, 10-spoke wheels, wood rim steering wheel. – First owned by Carroll Shelby’s son Mike. An impeccable older restoration to like-new condition. Ron Pratte collection. – Reported sold in 1991 at the Rick Cole Newport, California sale for $25,000 where it was said to be owned by Shelby’s son, Pat, but as anyone who tells Irish jokes knows, Pat and Mike are interchangeable. It brought a rather astounding $363,000 here in 2008 after a stellar restoration when Ron Pratte bought it. None of those factors account for its seriously stellar result here amidst a cornucopia of important Shelby cars.Lot # 2515 1936 Delahaye Whatthehaye Roadster Custom, Body by Coddington; S/N 3700737; Black, Silver/Black; Customized restoration, 1 condition; Hammered Sold at $610,000 plus commission of 10.00%; Final Price $671,000. With Reserve – Built by Boyd Coddington, all steel fabrication by Marcel Delay on Coddington pro ride chassis with a Viper V10 powerplant, 6-speed transmission, intricate Boyd wheels, lift off top, Gabe Lopez interior, many one off custom fabricated components. – Built for Scotty Gray, a departure from Boyd Coddington’s focus on interpretations of American cars to incorporate French lines, and beautifully done and maintained in show car condition. Ron Pratte collection. – Sold here in 2005 for $540,000 and still an instantly recognizable custom car landmark. It riveted the bidders’ attention and brought a deserved superior price.Lot # 2516 1929 Ford “Alumatub” Coupe; S/N 29A00037; Brushed aluminum/Silver leather; Customized restoration, 1 condition; Hammered Sold at $170,000 plus commission of 10.00%; Final Price $187,000. No Reserve – Aluminum block Chevy 350, Barry Grant 3×2 intake, Powerglide automatic, unique Coddington 5-spoke centerlock alloy wheels, lift-off roof, quick change rear axle, aluminum frame. – Built on “American Hot Rod” TV program. Astounding unfinished metalwork by Marcel Delay with seams that are almost impossible to detect. This is a marvel of workmanship. Ron Pratte collection. – Sold here in 2005 for $167,500, its result in 2015 is less than the workmanship deserves, even if its design (particularly the aluminum Model A-style radiator shell) is less than inspiring. Its Coddington history argues for preservation in the present configuration, but the style of the car begs for an equally meticulously built track-style nose to complement the rest of the low, sleek bodywork. At this price the new owner could do it (while preserving the original radiator shell) and go back on the show circuit. It is a piece of custom car history at a reasonable price.Lot # 2518 1969 Ford Mustang Boss 429; S/N 9F02Z159752; Raven Black; Not evaluated; Hammered Sold at $500,000 plus commission of 10.00%; Final Price $550,000. No Reserve – KK #1371. – Ron Pratte collection. –Lot # 2519 1971 Plymouth ‘Cuda Hemi 2-Dr. Hardtop; S/N BS23R1B220743; Curious Yellow, Black billboards/Black vinyl; Not evaluated; Hammered Sold at $400,000 plus commission of 10.00%; Final Price $440,000. With Reserve – Ron Pratte collection. – Sold here in 2007 for $517,000.Lot # 2520 1970 Plymouth Road Runner Superbird Hemi 2-Dr. Hardtop; S/N RM23R0A162305; Orange/Black vinyl; Visually maintained, largely original, 2 condition; Hammered Sold at $300,000 plus commission of 10.00%; Final Price $330,000. No Reserve – 426/425hp Hemi, automatic, P/S, P/B, Rally wheels. – Documented with original fender tags, window sticker, broadcast sheet and owner’s manual. Largely original with excellent paint, chrome and interior. Preserved and detailed to showroom condition. Ron Pratte collection. – Sold here in 2004 for $194,400, this beautifully preserved low mileage Hemi Superbird defies the recent swoon in Mopar prices, for good and sufficient reasons. When describing a ‘sympathetic’ cosmetic restoration this should be the benchmark.Lot # 2522 1970 Plymouth ‘Cuda Hemi 2-Dr. Hardtop; S/N BS23R0B216443; Blue/Black vinyl; Older restoration, 2+ condition; Hammered Sold at $345,000 plus commission of 10.00%; Final Price $379,500. No Reserve – 426/425hp Hemi, automatic, shaker hood, rally wheels, fog lights, AM radio. – 30,000 or so miles from new, restored to a reasonable facsimile of the way it would have looked on the showroom floor albeit with better paint and fits than any American factory ever did in 1970. Represented as matching numbers, broadcast sheet documented. Ron Pratte collection. – Bought here in 2004 for the then curve-setting price of $216,000. Mopars have since then been up, and down again but this transaction once again represents a curve-setting transaction, encouraged by the provenance of coming from Ron Pratte’s collection. Mopar collectors (and speculators) should be encouraged.
Rick how many of the Pratt cars actually sold and how many were retained by not meeting the reserve?
I believe that the were all sold with no reserve.
From this article,
“Half the Saturday Pratte cars were sold with reserve prices, in contrast to Barrett-Jackson’s usual No Reserve consignments, but that wasn’t the only departure. . . ”
As I watched, the show, it seemed that about 50% of the cars with reserve did not sell. But that is an estimate.
Twelve of the thirty Saturday lots from the Pratte collection were sold with reserves, specifically:
2500 Pontiac Bonneville
2503 Howard Hughes Buick Roadmaster
2505 Packard Sightseeing Bus
2507 Blastolene
2509 Super Snake
2511 ’69 Mustang GT500
2513 ’06 Shelby Mustang Hertz
2515 Whathethaye
2517 Lincoln-Zephyr custom
2519 ’71 ‘Cuda Hemi
2521 ’36 Airflow custom
2523 ’55 Thunderbird
All were sold on the block except the Super Snake which passed on the block but was announced sold during the session.
Rick