Leake Dallas 2012 – Auction Report

Leake Auction, Dallas Market Hall, Dallas, Texas, November 16-18, 2012

Report and photos by Rick Carey, Auction Editor

November 16-18, 2012 marked the fortieth anniversary of the Leake/Sevenoaks family’s Dallas auction at this spacious mostly-indoor location.

550 cars crossed the block, with two rings Friday and Saturday and one on Sunday. 321 of them, 58.4%, were sold bringing in a total of $6,498,674 including buyers’ commission. That’s an average transaction of $20,245. The highly affordable nature of the cars on offer was implicit not only in the transaction average but also in the median transaction value, just $15,950.

Ten cars brought bids of $100,000 or more, of which one (2006 Ferrari F430 F1 Spider) was sold for $143,000. 121 lots sold on hammer bids of $10,000 or less.

Leake’s Dallas sale is, like all the Leake auctions, a friendly, inclusive gathering conducted in traditional American style with the usual – or maybe a little more than the usual – gesticulating, shouting and cheering. The auction hotel, the recently renovated Renaissance, is just across the parking lot. Just two stoplights up the Stemmons Expressway at the Fuel Stop there’s a tiny 24-hour taco stand that makes some of the best little tacos in the world (three tacos with rice and beans for $5.99.)

Leake’s next auction is in Oklahoma City on February 22-23, 2013.

Leake Dallas 2012 – Auction Report

1969 Chevrolet Camaro SS 396
Lot # 449 1969 Chevrolet Camaro SS 396 2-Dr. Hardtop; S/N 124379N592515; Engine # T1028JQ 592515; Red, White stripes/Black vinyl; Cosmetic restoration, 3- condition; Hammered Sold at $31,000 plus commission of 10.00%; Final Price $34,100 – 396/325hp Turboglide JQ-coded block badged 360hp and with a 4-speed. P/S, P/B, Rally wheels with trim rings, Winner GT tires, cowl induction, Hurst shifter, cassette stereo, console gauges. Poor orange-peely paint job with many flaws. Tidy but not correctly presented underhood with chassis black squirted over flaky old paint. Wobbly chassis number stamping on block is suspect. Highly unsatisfying. There are enough inconsistencies in this Camaro, starting with the engine and transmission and going right through the heavily textured paint job, that the seller should be thankful to get this much for it. Its price appropriately handicaps its many shortcomings, but the money could have been better spent elsewhere.
1954 MG TF Roadster
Lot # 450 1954 MG TF Roadster; S/N HDC43/528; OEWhite/Black leather; Black leatherette top and tonneau cover; Recent restoration, 2- condition; Hammered Sold at $18,500 plus commission of 10.00%; Final Price $20,350 – Silver painted wire wheels, blackwall bias ply tires, fender mirrors, side curtains. A very good older restoration to like new condition, now a little aged but with almost no use. Might detail back to show car condition. This is a nice little TF 1250, done right and done everywhere. Its restoration has aged a little, but no more than could be brought back to nearly pristine condition with time, elbow grease and few carefully applied cleaning compounds. It could have brought another $10K without being over-priced.
2006 Ferrari F430 F1 Spider
Lot # 472 2006 Ferrari F430 F1 Spider; S/N ZFFEW59A760145771; Titanium Grey/Black leather; Unrestored original, 2- condition; Hammered Sold at $130,000 plus commission of 10.00%; Final Price $143,000 – Manetto steering wheel, Alpine CD stereo, yellow calipers, SF shields, black 19 inch wheels with Bridgestone tires, carbon fiber interior trim, yellow instruments. Good paint and interior, clean engine compartment, good tires look new. Assembly # 62854. Shows limited road dust, upholstery is nearly like new with minor driver’s seat bolster creasing. How do you define ‘depreciation’? Ferrari F430 Spider is a good synonym. This one has all the bells & whistles and notably attractive colors. It’s worth what it brought today, but next month it’ll be worth less. There are just too many of them.
1967 Chevrolet Corvette 427/435 Roadster
Lot # 473 1967 Chevrolet Corvette 427/435 Roadster; S/N 194677S122678; Engine # T0606JF 7122678; Red, Black stinger/Black; Black vinyl top; Older restoration, 3+ condition; Post-block sale at $96,000 plus commission of 10.00%; Final Price $105,600 – Badged and described as a 427/435 but block is coded JF which is a 400hp hydraulic lifter 4-speed engine. It has AM-FM, Rally wheels with trim rings, red line tires, two tops, side exhausts. Shiny paint, good interior and chrome, oily, dirty chassis. Not as good (or as consistent) as it might be, but more than good enough to drive. Sold post-block with this result, there is no bargain in this price. For this much the new owner should expect NCRS judging with high points and a consistent presentation, neither of which this Corvette has. It will be a rewarding driver, but would have been more rewarding at $10-15K less.
1957 Chevrolet Corvette Convertible
Lot # 477 1957 Chevrolet Corvette Convertible; S/N E57S104094; Engine # F503EG; Red, Beige coves/Red vinyl; Older restoration, 2+ condition; Post-block sale at $87,000 plus commission of 10.00%; Final Price $95,700 – 283/270hp dual quads, 4-speed, WonderBar radio, spinner wheel covers, wide whitewalls, hardtop only. NCRS Top Flight in 2004 and still sharp, fresh and clean. Sold at B-J Scottsdale in 2005 for $103,680, this result is appropriate to the car’s current condition, configuration and today’s market. Look at it this way, almost eight years’ use and enjoyment cost the seller something like $17K, about $2K per year. That’s not a lot for some serious endorphins.
1914 Rolls-Royce Silver Ghost 40/50hp Touring
Lot # 479 1914 Rolls-Royce Silver Ghost 40/50hp Touring, Body by Brewster; S/N 15LB; Engine # 86D; Ivory, Gold coachline/Beige leather; Beige cloth top; Older restoration, 3+ condition; Not sold at Hammer bid of $375,000 – RHD. CAV headlights, IMI sidelights, Ivory centerlock wire wheels, blackwall tires, electric horn, nickel brightwork, dual taillights, fishtail exhaust, bulb horn. Good older paint, nickel, upholstery and top. Stored many years and recently detailed and re-commissioned. Body isn’t original to this chassis and is unmarked although attributed to Brewster. Colorful history including UK War Office use in WWI. Not a show car but better than most Ghost tour cars. This isn’t one of Brewster’s best designs, if it’s Brewster’s at all, but the car is in very good and well preserved condition and will be welcomed at all sorts of R-R events, shows and tours. It’s worth more than this, although how much depends upon the bidders’ opinion of the coachwork.
1958 Chevrolet Bel Air Impala Convertible
Lot # 488 1958 Chevrolet Bel Air Impala Convertible; S/N 8176727657; White/Red vinyl; Black vinyl top; Cosmetic restoration, 3+ condition; Not sold at Hammer bid of $75,000 – 348 4-barrel, Powerglide, P/S, no P/B, WonderBar radio, spinner wheelcovers, whitewall bias ply tires, skirts, continental kit, dual rear antennas. A sound and presentable older cosmetic restoration now showing age and not restored where it’s hard to see. Dented side trim. Engine # illegible. Wait a minute, this car sold five months ago at Mecum’s sale of the Salmon brothers’ collection for $68,300. It should have been loose and selling at anything over $70K, especially with the unmarked engine block. If there was money in the room the consignor missed a bet in not snapping it up.
1959 Chevrolet Impala Convertible
Lot # 489 1959 Chevrolet Impala Convertible; S/N F59S122252; Engine # T520FA; White/Red vinyl; White vinyl top; Recent restoration, 2 condition; Not sold at Hammer bid of $100,000 – 348/280hp, 3 deuces, 4-speed, P/S, P/B, AM radio, shirts, spinner wheel covers, bias ply whitewalls, dual rear antennas. Restored like new with excellent paint, chrome and interior. Engine compartment is nearly spotless, as is the underbody. A quality car. Sold five months ago at Mecum’s Salmon brothers’ auction for $121,000, this is a quality Impala with a great drivetrain. It’s no surprise it didn’t find a new home among the skeptical Dallas bidders at the reported high bid.
1960 Chevrolet Impala Convertible
Lot # 490 1960 Chevrolet Impala Convertible; S/N 01867T113668; Engine # F0626DB; Black/Red houndstooth vinyl; Black vinyl top; Recent restoration, 2 condition; Hammered Sold at $67,000 plus commission of 10.00%; Final Price $73,700 – 283/230hp, 4-barrel, Powerglide, P/S, P/B, spinner wheelcovers, whitewall Silvertown bias ply tires, AM radio, dual exhaust, dual rear antennas, skirts. Excellent paint, chrome and interior. Restored like new. No surprise that this Impala sold, it could have been sold for $55,000 and still been full value for money. It’s an ordinary car, with an ordinary engine and less-than-ordinary Powerslide transmission. An enjoyable cruiser, the odyssey ends when the hood’s lifted.