Bonhams and Butterfields, Westin Kierland Resort, Scottsdale, Arizona, Thursday, January 17, 2013
Report and photos by Rick Carey, Auction Editor
Bonhams established a bridgehead in Scottsdale last year, landing at the attractive grounds of the Westin Kierland Resort and Spa just off Scottsdale Road near the airport.
They returned in 2013, bigger than ever and with a succulent consignment that ran the gamut from dilapidated (but complete and very choice) antiques through massive Classics to Shelby Mustangs. Not a few were handsomely prepared and presented vintage race cars.
Their location, in expansive tents placed on grass adjacent to the Westin’s valet parking lot, was the same as last year and proved that you don’t mess with a successful presentation. Most of the cars were previewed in the tents, but a number resided in the bright Arizona sunlight for an attractive contrast.
How’d they do? With 112 lots (up 64% from the 68 lots last year) their sale total increased by a hundred and twenty-five percent to $13,455,950 from $5,967,559 a year ago. The sale rate reflected the general quality and interest of the cars, increasing from 64.7% to 82.1%.
Bonhams continues to reinforce its position as the place to find, and to find buyers for, important unrestored cars. Their enthusiasm for them is evident not only in the cars’ cataloging and presentation but by the way they’re represented by Bonhams’ specialists on-site.
With the caliber of the cars offered and the dignified setting for the preview and the auction at the Kierland, Bonhams firmly established itself as a player to be reckoned with in the January Arizona auction scene in its second year. It’s a venue, and consignment, that has quickly established an important place among more established Arizona auctions.
Bonhams Scottsdale 2013 – Auction Report
Lot # 302 1931 Chrysler CM-6 Sport Roadster; S/N 6532542; Engine # CM14224; Light Green, Olive fenders and accent/Brown leather; Beige cloth top; Estimate $60,000 – $80,000; Older restoration, 3 condition; Hammered Sold at $61,000 plus commission of 15.00%; Final Price $70,150. Dual cloth-covered sidemounts, folding windshield, dual aeroscreens, driving and fog lights, triple Zenith updraft carbs, 9:1 compression, Jaeger tach. — Martin Swig’s homage to the Le Mans Chryslers, regularly driven on the California Mille and in the Monterey Historics. A driver’s car with sound cosmetics but showing use and age. This Chrysler will be welcome in most desirable events both for what it is and for its connection with Martin Swig. The price is appropriate for the car, its history and its preparation but should not be extrapolated to other ’31 Chrysler CMs. Lot # 311 1958 AC Aceca Coupe; S/N AE650; Engine # CL2350WT; Red/Beige leather, Blue piping; Estimate $85,000 – $100,000; Older restoration, 2- condition; Not sold at Hammer bid of $75,000. Silver painted wire wheels, Avon radial tires. — Restored like new a while ago, then lightly used and well maintained. Good paint and chrome. Seats show use and age with a pleasing patina. Underbody is nearly like new, engine is sharp and clean. Represented as matching numbers and as-delivered. This Aceca would look so much better in its original Bright Blue color, particularly with the blue piping on the seats. That doesn’t account for it falling short of reserve here, however, but rather an oversight on the part of the bidders, who should have been all over Bonhams after it crossed the block to negotiate a deal at or close to the reported high bid. Lot # 313 1930 Bugatti Type 46 Faux Cabriolet, Body by Veth & Koon; S/N 46293; Engine # 157; Black/Cognac alligator; Beige cloth top; Estimate $900,000 – $1,200,000; Older restoration, 1- condition; Hammered Sold at $860,000 plus commission of 10.58%; Final Price $951,000. Body color wheel discs, dual rear spares, body color wheel discs, Marchal headlights, Stephen Grebel spotlight. — Delivered to Holland and bodied there by Veth & Koon with this coachwork. Stayed there until 2004 when it was restored by Alpine Eagle in the UK, completed in 2010 to very high standards at a cost of $550,000. Excellent paint, chrome and interior. Sharp (and very impressive) engine. Chassis is orderly but shows age. Best in Show at the BOC’s Prescott Hill Concours in 2011. Sold by Bonhams in Paris in 2011 for $859,188 (Euros 632,500 at the time; today’s price is Euros 712,000). While not the work of famed coachbuilder/designers, Veth & Koon of Arnhem did a superb job of adapting a d’Ieteren Freres design to the ‘Petite Royale’ chassis. The restoration is above reproach, as its show history indicates, and now shows only a little age and some evidence of use. It’s a showpiece Bugatti at an appropriate price. Lot # 332 1968 Ferrari 330 GTS Spider; S/N 11021; Engine # 9823; Red/Red, Black leather; Black cloth top; Estimate $650,000 – $900,000; Older restoration, 3+ condition; Hammered Sold at $825,000 plus commission of 10.61%; Final Price $912,500. Chrome spoke Borranis wire wheels, Michelin XWX tires, stick-on SF shields, P/W. — Good paint, thin trim chrome, good interior, but gaudy colors. Tidy underbody. A good driver. Ex-Gene Ponder, which accounts for its garish livery, one of several cars in Arizona this week that traced their ownership history through Ponder and RM’s 2007 auction of his collection where this 330 GTS brought $418,000 with 5,400 fewer km showing on the odometer. This result is indicative of the 330 GTS value trend over the past six years, and might even be a bit of a bargain, with room for the new owner to de-Ponder the interior for something more restrained. Lot # 334 1962 Chevrolet Corvette FI Convertible; S/N 20867S106224; Engine # 2196224F0II8RF; Red/Red vinyl; Estimate $80,000 – $100,000; Older restoration, 3 condition; Hammered Sold at $75,000 plus commission of 15.00%; Final Price $86,250. No Reserve. 327/360hp, 4-speed, Positraction, WonderBar radio, hardtop only, steel wheels with hubcaps and blackwall tires. — Once owned by David E. Davis, thoroughly restored by a later owner and well maintained since. Paint and interior are good, underhood shows age. Looks the part of a serious Fuelie Vette. Sold by RM at Meadow Brook in 2008 for $69,300, then by Gooding at Amelia in 2010 for $79,200 with some subsequent mechanical work. This result is appropriate for the car, its history and its condition. Lot # 335 1972 Lamborghini Miura SV, Body by Bertone; S/N 5012; Engine # 30708; Red, Gold sills and wheels/Blue leather; Estimate $900,000 – $1,100,000; Visually maintained, largely original, 3 condition; Hammered Sold at $1,100,000 plus commission of 10.45%; Final Price $1,215,000. P/W. — Good repaint, otherwise clean and original. Upholstery scuffed. Underbody and chassis original. Freshly serviced at Motion Products. Sold by Christie’s in Monterey in 2006 for $477,000 in the same condition in which it is seen here except for the recent mechanical service. Today’s price is what’s happened to Miuras recently but even at that this is a sound value for a factory-built SV. Lot # 337 1971 Ferrari 246 GT Dino Coupe; S/N 2828; Silver/Beige leather; Estimate $140,000 – $180,000; Visually maintained, largely original, 3 condition; Hammered Sold at $160,000 plus commission of 13.13%; Final Price $181,000. No Reserve. Cromodora alloy wheels, Michelin MXV blackwall tires, cassette stereo. — Mediocre old repaint, worn original upholstery. Tidy, orderly engine and chassis. An honest used car from the Oldenburg Collection. With Dino values heading into the stratosphere this sound, if little used in recent years, coupe is a representative value with the potential to be used with less concern than would be engendered at GTS prices.
Bonhams Scottsdale 2013 – Auction Report Page Two
Lot # 340 1967 Ferrari 365 GTC Speciale, Body by Pininfarina; S/N 10581; Engine # 10581; Dark Red/Tan leather; Estimate $400,000 – $500,000; Cosmetic restoration, 3 condition; Hammered Sold at $800,000 plus commission of 10.63%; Final Price $885,000. 5-spoke centerlock alloy wheels, Craig cassette stereo, P/W. — Badged 330, but built to 365 specs with 15 inch Campagnolo centerlock alloy wheels for Leopoldo Pirelli, President of Pirelli Spa for ‘testing’ Cinturato tires. Poorly masked old paint job, thin chrome. upholstery has been replaced but now is lightly soiled. Carpets are lightly soiled also. Underbody is dirty. A driver quality Ferrari. Sold at Gooding’s Pebble Beach Auction in 2007 for $385,000 with 7,610 km on the odometer, it has 9,125 km today. The intervening six years have seen this car’s condition deteriorate. Its price here is simply astounding, and had the whole Bonhams tent quivering with conversation after it sold. It’s a ‘speciale’, but it’s not as ‘speciale’ as the price it brought. Lot # 343 1937 Ford Model 78B Deluxe Station Wagon; S/N 183519459; Black/Brown leatherette; Estimate $80,000 – $100,000; Older restoration, 2- condition; Hammered Sold at $74,000 plus commission of 15.00%; Final Price $85,100. Steel spoke wheels with trim rings and wide whitewalls, two row seating, banjo spoke steering wheel, Unity fog lights, enclosed rear spare. — Good paint, chrome and interior. Excellent wood with flawless varnish described as and appears to be original Ford framing. Frame and underbody are done to factory appearance. Steering wheel rim is dull, spokes have rust spots. An attractive weekend driver with some potential after application of generous amounts of elbow grease. Oldenburg Family. Sold by Gooding & Company at Amelia in 2010 for $101,750 during a flurry of interest in woodies, it is a much better buy at today’s price than it was then, the cost of following fads. Lot # 347 1972 Ferrari 365 GTB/4 Daytona Berlinetta; S/N 15173; Fly Yellow/Black leather; Estimate $350,000 – $450,000; Older restoration, 2- condition; Hammered Sold at $345,000 plus commission of 11.45%; Final Price $384,500. Popup lights, painted nose panel, chrome spoke Borrani wire wheels, blackwall Michelin XWX tires, A/C, Becker Grand Prix stereo, Marelli ignition boxes, P/W. — Good older restoration with some age and miles. Excellent paint (originally Grigio Ferro, though) and chrome, good interior. A little dusty down in the depths but nonetheless reassuringly presented. Oldenburg Family. It’s undeniable that a Giallo Fly Daytona cuts a wide swathe anywhere it appears, but its original Grigio Ferro would better complement the coachwork design. This is an appropriate price for this Daytona’s history, presentation and condition. Lot # 349 1962 Ferrari 250 GTE Coupe; S/N 3177; Engine # 3177; Black/Black leather; Estimate $150,000 – $200,000; Visually maintained, largely original, 3- condition; Hammered Sold at $150,000 plus commission of 13.33%; Final Price $170,000. No Reserve. Chrome spoke Borranis, CD stereo, Marchal lights. — Failing old repaint over old paint. Worn but sound original upholstery, scuffed, thin chrome. Mostly original, sound and usable as is but nothing to be proud to be seen driving. A tired GTE that brought all the money for its condition. Lot # 358 1936 MG NB Magnette Airline Coupe; S/N NA0848; Engine # 1112AN; Red, Black/Red leather; Estimate $200,000 – $300,000; Older restoration, 2- condition; Hammered Sold at $165,000 plus commission of 13.03%; Final Price $186,500. 1,271cc 56hp sohc dual carburetor six. Chrome Borrani wire wheels, driving light, sliding sunroof, sliding door windows, trafficators in C-pillar, enclosed rear spare with wheel disc, Bluemels Brooklands steering wheel. Comes with a set of polished wheel discs. — Still better than new but showing some age. Big paint chip on cowl. Oldenburg Family. Sold at RM’s Ponder auction in 2007 for $398,750, then in London in 2010 for $229,786. A gorgeous automobile with charm, style and a large helping of cuteness. This price makes the most sense and is a good value for a very rare MG. Lot # 362 1955 Mercedes-Benz 300SL Gullwing; S/N 1980405500521; Engine # 1989805500534; Metallic Strawberry/Beige leather; Estimate $850,000 – $1,000,000; Recent restoration, 2 condition; Hammered Sold at $810,000 plus commission of 10.62%; Final Price $896,000. Body color Rudge wheels, blackwall tires, hinged steering wheel. — Freshly completed long term restoration with excellent paint, chrome and interior. Rudge wheels added during restoration and color changed to the present Strawberry. Polished intake plenum. Neat and orderly underhood. The delay in finishing the restoration shows. The price this Gullwing brought is a tidy balance between its appeal in Strawberry and the non-originality of its color. The seller should be fully satisfied with this barely sub-estimate price, and the buyer got a neat Gullwing even if the price is full retail. Lot # 365 1970 Porsche 911E Coupe; S/N 9110200212; Engine # 907611; Signal Orange/Black cloth; Estimate $60,000 – $70,000; Modified for competition during restoration 2- condition; Not sold at Hammer bid of $52,000. Fire system, full roll cage, two seats, Fuchs wheels, fire system, fuel cell, Weber carbureted replacement 2 liter engine, 5-speed, limited slip. — Neat, orderly vintage race car with very good cosmetics. Modified for historic racing during a meticulous restoration in 2000. A SOVREN class championship winner that looks the part. Close to a turn key contender on track, this 911(E) would be a sound value for a vintage racer at anything close to the reported bid, or the low estimate for that matter.
Bonhams Scottsdale 2013 – Auction Report Page Three
Lot # 380 1907 REO Model B Runabout; Engine # 5654; Blue, Black mudguards/Black leather; Estimate $30,000 – $40,000; Unrestored original, 4- condition; Hammered Sold at $17,000 plus commission of 15.00%; Final Price $19,550. Wheel steering, kerosene lights, hinged rear seats. — Dilapidated but complete, unrestored and original. Pierce A. Miller Carriage Collection. The new owner of this relic will face a challenge in deciding whether to restore it or just make it run and preserve its originality. The latter is the more appealing alternative, in line with the stewardship principles that are making themselves felt among sophisticated collectors, and it’s a particularly appealing choice at this very reasonable price. Lot # 381 1908 Success Model C Auto Buggy; Black/Black; Estimate $25,000 – $35,000; Unrestored original, 4- condition; Hammered Sold at $16,000 plus commission of 15.00%; Final Price $18,400. Center-mounted steering wheel, center pivot front axle, kerosene side lights. — There are few vehicles more rudimentary than this Success, even to retaining the leather dashboard originally intended to keep the passengers from being pelted with clods thrown up from the horse’s hooves. To say this vehicle needs everything is an understatement, but its originality and inherent simplicity are charming. Pierce A. Miller Carriage Collection. The lineage between the horse and buggy and the automobile is nowhere more clear than in this Success and the similar auto buggies that bridged the gap between the horse and horsepower. Consider that it was built in 1908, as Henry Ford was gearing up to introduce the 4-cylinder Model T and the contrast is even more stark, but the familiarity of the buggy layout appealed to rustics only beginning to appreciate that gasoline powered vehicles didn’t need to be fed when they weren’t working to earn their keep. The price it brought is consistent with its condition and simplicity. Lot # 383 1903 Oldsmobile Model R Curved Dash Runabout; Engine # 18003; Dark Blue/Black leather; Black top; Estimate $50,000 – $80,000; Unrestored original, 4 condition; Hammered Sold at $54,000 plus commission of 15.00%; Final Price $62,100. Kerosene lights, top, rear seat with folding footrest, center tiller steering. — Essentially completely original and complete, with scant evidence of even minor touchup or repair. Firmly dated 1903 by both the engine number and several mechanical features like the roller drive chain, bolted differential and finned cooling tubes. Pierce A. Miller Carriage Collection. ‘Do no harm’ should be the mantra of the new owner of this exceptionally complete and preserved Oldsmobile. It will need thorough mechanical recommissioning but then should be ready to join the London to Brighton parade next fall. It brought a sound price for what it is, and for what it will do. Lot # 387 1964 Morgan +4+ Coupe; S/N A5794; Engine # 511605; BRGreen, Light Yellow/Tan Ostrich-pattern leather; Estimate $190,000 – $230,000; Modified restoration, 2+ condition; Hammered Sold at $205,000 plus commission of 12.44%; Final Price $230,500. Chrome 15″ wire wheels, blackwall radials, 45DCOE 152 Spanish Webers, uprated engine, Derrington wood rim steering wheel. — The 1964 London Motor Show car, one of just 26 +4+ Morgans built, a dramatic departure from Morgan tradition and sufficiently frightening that traditionalists rushed to order +4 roadsters, possibly saving the company. Freshly restored to better than new condition with better paint and interior and a 170-180hp engine. Opinion among the auction onlookers was divided on the +4+, as it always has been. Some noted the Lotus-like brief, shapely body. Others couldn’t wrest their attention from the bulbous roof. The modifications probably had little effect on perceptions, as they were more than offset by the quality of the workmanship, materials and attention to detail. Once its showcar career is over it promises to be a scintillating road car and one that will always attract attention, although not always positive. Lot # 388 1966 Lola T70 Mark II Spyder; S/N SL71/22; White/Black; Estimate $300,000 – $400,000; Competition restoration, 2 condition; Not sold at Hammer bid of $270,000. 5-spoke bolt on alloy wheels, full windshield, four side draft(Spanish) Webers. — Racing history from new, restored in the livery in which it first raced, promoting Ronald Reagan for California governor and raced in the original Can-Am. Very nicely restored vintage race car. Clean, tidy done right. Tub reskinned around the original bulkheads. Very good cosmetics and little evidence of use. Like new. Maybe the Reagan thing deterred some bidders, although here in Arizona you’d think that would be an advantage. Or maybe they couldn’t figure out what ‘reskinned tub’ meant to value. In any event its history makes it eligible for lots of important events, as well as being an endorphin-fountain when driven. Lot # 389 2010 Allard J2X Mk II Roadster; S/N J2X9024; Engine # M600636TNXE6253410886; Dark Blue/Red leather; Estimate $110,000 – $140,000; Non-factory replica, 2- condition; Hammered Sold at $92,000 plus commission of 15.00%; Final Price $105,800. 5.7 liter fuel injected Chrysler Hemi crate engine, 5-speed Tremec gearbox, Wilwood disc brakes, nerf bars, chrome wire wheels, side exhausts, Moto-Lita 4-spoke steering wheel, dual roll bars, Hella driving lights, wishbone 4-wheel independent suspension, cycle fenders. — Freshly built with modern technology. Lightly scuffed paint, good chrome, interior is like new. A lookalike Allard loaded with modern stuff, good brakes and a rational suspension. This is the Allard J2X look, with none of the idiosyncrasies that make an Allard or a J2X. In other words, this is a street rod with unusual style and flair and the result it brought here is surely all it should have attracted. Lot # 392 1971 Ferrari 365 GTB/4 Daytona Spyder Conversion; S/N 14197; Engine # B850; Black/Tan leather, Black stripes; Black cloth top; Estimate $320,000 – $360,000; Rebodied or re-created, 3+ condition; Hammered Sold at $380,000 plus commission of 11.32%; Final Price $423,000. Chrome spoke Borrani wire wheels, Michelin XWX tires, Voxson 8-track, P/W, no A/C, MSD ignition boxes. — Lightly scuffed paint and chrome, poor left side windshield fit. Underbody recently resprayed. Good interior. Cruising down the boulevard, who cares if it once had a roof. Visibly well-maintained, the presentation of this cut Daytona gives some confidence it hasn’t been abused or neglected. Spider conversions are frowned upon by some, but that doesn’t lessen their visual impact or enjoyment, factors that are reflected in the mildly generous price brought by this example. Lot # 401 1938 Mercedes-Benz 540K Cabriolet A, Body by Sindelfingen; S/N 169396; Burgundy/Cream leather; Tan cloth top; Estimate -; Visually maintained, largely original, 3 condition; Hammered Sold at $1,188,636 plus commission of 10.42%; Final Price $1,312,500. Burgundy painted wire wheels, whitewall tires, Becker radio, dual sidemounts, Bosch headlights, fog lights and dip beam light, spotlight, trunk rack. — Old repaint, some replaced carpets but all original interior. Interior wood redone and in very good condition. Sound chrome. Chassis has been repainted but not restored. Bid to $1,150,000 and closed just after it left the block with this result. It’s going to be very hard to figure out what to do with this 540K. It’s almost too good to restore, and plenty good enough to be driven as it is. The opportunity to wind out a 540K without concern for stone chips, bird strikes or the occasional inattentive sheep is one that seems like it’s too good to pass up and at this price that’s a real and reasonable prospect. Lot # 403 1985 Tempero Lister-Jaguar Replica Costin Sports Racer; S/N 7151539; Green, yellow stripe/Black; Estimate $100,000 – $125,000; Non-factory replica, 3+ condition; Not sold at Hammer bid of $78,000. 4.2 liter, three Dellorto carbs, 5-speed, alloy body, polished Dunlop style alloy centerlock wheels, braced driver’s rollbar, full width windshield. — Well maintained vintage race car with very presentable cosmetics. The question is, vintage race where? It does have an SVRA logbook (#3458) and was refurbished by Tempero in 2002. It would be more satisfying with Knobbly bodywork. Offered at RM’s Boca Raton auction in 2003 it no-saled with a reported bid of $63,000, then sold at RM Monterey later that year for $47,300. It’s had a few miles since then and the expectation it’s worth any more than the reported high bid is specious.
[Source: Rick Carey]
Rick,
Although the report is several years removed from the auction I came across it and read with interest. I have enjoyed your insight and knowledge base but feel compelled to comment on your statement regarding the former Gene Ponder Ferrari. The “garish livery” and “dePonder” remarks I felt uncalled for and seemed personal in nature. Mr.Ponder is one of the good guys in the collector world and always has been generous with his time to show anyone with an interest in viewing his collection. I have been with him on several occasions at auctions and events and he has always been an absolute gentleman. On more than one occasion he allowed me to drive one of his cars he had just purchased and had not driven yet to his home while following me, letting me experience something that I would never have otherwise. While not sure of the garish nature of the livery or otherwise I can attest to him as a person and know there there need to be more like Gene and hope you “rePonder” comments made in reference to his personal preference and taste. I know that personally I would enjoy the read and your feel for the state of the market accurate and informative as it is even more.
Michael R.Moore