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
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.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.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.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.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.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.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.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.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.
Leake Dallas 2012 – Auction Report Page Two
Lot # 513 1965 Ferrari 330 GT 2+2, Body by Pininfarina; S/N 6561; Engine # 6561; Red/Black leather; Visually maintained, largely original, 3- condition; Not sold at Hammer bid of $90,000 – Chrome spoke Borrani wire wheels, Michelin X tires, Blaupunkt AM-FM, overdrive. Scratched old repaint over old paint, good original interior, chrome and interior trim. Carpets have been replaced and interior wood redone. Engine is orderly, has Crane ignition modules tucked away but is oily and grimy in its recesses. Borrani rims have been polished with a coarse Scotch Brite pad. A reassuring largely original driver that could be a lot better after a strip and repaint. Originality means little when it’s as compromised as it is on this 330 GT. It should have been on its way to a new owner at a money bid well below the reported result.Lot # 522 1970 Chevrolet Chevelle SS 454 2-Dr. Hardtop; S/N 136370R227522; Engine # T0125CWL 13C172724; Burgundy, White stripes; White vinyl roof/Pearl vinyl; Cosmetic restoration, 3 condition; Hammered Sold at $23,500 plus commission of 10.00%; Final Price $25,850 – 454, 4-speed, Hurst shifter, Rally II wheels with trim rings, Radial T/A tires, buckets and console, Positraction, cassette stereo, P/S, P/B, A/C (not connected and compressor not installed), Offenhauser intake, Holley 4-barrel, tube headers. Non-matching engine with erratic chrome gew gaws. CWL block is a ’73 454/245hp Turbo Hydramatic. Sound but only fair repaint, good interior. Panels fit well. Cosmetically restored to decent driving condition, but erratically and not reassuring. There is little about this Chevelle that engenders confidence, not the engine, not the paint, not the … well … not much. Given its many shortcomings the seller should be extremely satisfied with this price; the buyer not so much.Lot # 526 1988 Ferrari Testarossa, Body by Pininfarina; S/N ZFFSG17A1J0075284; Engine # 00885; Red/Tan leather; Original, modified for competition or performance, 3+ condition; Hammered Sold at $45,000 plus commission of 10.00%; Final Price $49,500 – Alarm, Momo leather rim steering wheel, Alpine cassette stereo, A/C, Sabelt 4-point belts, 18-inch polished modular centerlock wheels, CD changer, Tubi exhaust. Good original paint and interior. A little dusty and used appropriate to the 31,287 miles on the odometer. This Testarossa looks track-used and brought a healthy price for its presentation. The car card says it has 3K miles ‘since annual service’ which begs the question, ‘Which annual’? Potentially a strong driver, there are too many blanks in its presentation to make this any more than a full price.Lot # 539 1970 Ford Mustang Mach 1 2-Dr. Hardtop; S/N 0T05M128863; Medium Gold, Black stripes/Ginger vinyl; Cosmetic restoration, 3 condition; Hammered Sold at $25,000 plus commission of 10.00%; Final Price $27,500 – 351/300hp, close ratio 4-speed, P/S, P/B, spoiler, rear window slats, wing, Magnum wheels, Firehawk tires, Audiovox cassette, Hurst T-handle shifter, driving lights. Decent repaint, wiper-scratched windshield, good chrome, sound but lightly soiled upholstery. Road grime on underbody. A decent driver. Sold just two months ago at Auctions America’s Fall Auburn auction for $26,950, this result confirms the car’s unattractive but sound presentation and its value.Lot # 544 1975 Pontiac Firebird Trans Am Coupe; S/N 2W87S5N573814; Red-Orange/Black; Visually maintained, largely original, 3 condition; Hammered Sold at $15,500 plus commission of 10.00%; Final Price $17,050 – 400/185hp, automatic, shaker hood, Pioneer cassette stereo and factory 8-track, tilt steering column, P/W, honeycomb wheels, A/C, P/S, P/B. Good repaint and original interior. Dash and console are grungy but underbody is clean. Bowed hood. A usable driver that is impossible to ignore in this ‘arrest me’ color. Smog-strangled but one of the best of its era, this bright Trans Am will never be ignored. Largely original and in decently preserved condition, it brought a realistic price.Lot # 548 1970 Chevrolet El Camino SS 396; S/N 136800K183338; Gold, Black stripes and lower body, Black vinyl roof/Tan vinyl; Older restoration, 3 condition; Hammered Sold at $15,100 plus commission of 10.00%; Final Price $16,610 – 396/350hp, 4-speed, Rally gauges, console, AM-FM, Rally II wheels with trim rings, Firestone tires, Cowl Induction, P/S, P/B, A/C. An older restoration to presentable driver condition with subsequent use, age and superficial attention. Dirty underhood and underbody. Discolored gauge faces. Some paint flaws. Engine # obscured under grime. A usable driver but not the recent restoration it is represented to be. Many auction sellers treat ‘restoration’ as a highly subjective noun. It isn’t, and this El Camino isn’t a ‘recent restoration’. It’s had a redo, and it brought a price that shows the Dallas bidders recognized it for what it is. So did the seller. It has real potential and is a sound value at this reasonable price.Lot # 908 1986 Buick Grand National Coupe; S/N 1G4GK4777GP432116; Black/Black, Grey cloth; Original, modified for competition or performance, 3- condition; Hammered Sold at $14,500 plus commission of 10.00%; Final Price $15,950 – ‘Fast and Furious’ movie car, thoroughly prepared, braced and padded. NASCAR wheels, 4-wheel Wilwood disc brakes, 275/40R15 rear, 235/60R15 front General tries, Autometer gauges, hydraulic rear handbrake. Bad paint, rattley doors, soiled interior. A very used movie car driven by Vin Diesel in the movie. OK, this is a really clapped-out movie car, selectively (and very professionally) modified to make it do dramatic tricks on screen. The paint is awful, the interior is grubby, the windows rattle. Who really cares? It’s about as much fun as you can have in a car, professionally prepared, rigidly stiffened with bars everywhere and equipped with all manner of trick stuff. This is a Saturday night cruise-in star. It is a great value at this price. Really, it’s cheap.Lot # 1188 1981 Chevrolet Camaro Z/28 Coupe; S/N 1G1AP87L8BL122999; White/Red vinyl; Unrestored original, 2- condition; Hammered Sold at $13,750 plus commission of 10.00%; Final Price $15,125 – Automatic, AM-FM, mag-style wheel covers, A/C, F41 suspension, Radial T/A tires. Good paint and interior. Documented original 7,711 mile car notable for its survival and condition more than its performance or style. Sold for $16,500 at Barrett-Jackson Scottsdale in 2011, this is a neat time capsule. It’s not much of a Z/28, with its smog-strangled engine and automatic transmission, but it’s bragging rights on cruise night and a few more miles won’t hurt its value as long as it’s preserved.Lot # 1189 1960 Triumph TR3A Roadster; S/N TS61241L; Light Blue/Black vinyl; Black leatherette top; Enthusiast restoration, 3 condition; Hammered Sold at $19,500 plus commission of 10.00%; Final Price $21,450 – Silver painted steel wheels, blackwall tires, luggage rack, fender mirrors, tonneau cover, heater, rear seat. Heavily textured but sound old paint, good interior, top and tonneau cover. Sharp gauges, decent chrome. Orderly but not restored underhood, just cleaned up and reassembled. Underbody repainted over old undercoat. Thin windshield frame chrome. A sound but superficially redone cosmetic restoration. A good, largely sound car with only a few flaws that are easily dealt with (OK, except the ripply paint) that brought an appropriate price.
Leake Dallas 2012 – Auction Report Page Three
Lot # 2440 1968 Chevrolet Chevelle Malibu Convertible; S/N 136678B200630; Engine # T0513DF; Maroon/Black vinyl; Beige vinyl top; Cosmetic restoration, 3+ condition; Hammered Sold at $18,750 plus commission of 10.00%; Final Price $20,625 – 307/200hp 2-barrel engine now with an Edelbrock Performer intake and 4-barrel carb, Powerglide, tube headers, front disc brakes, Alpine CD stereo, gauges, bench seat, Rally II wheels, Eagle GT II tires, rear antenna, P/S, no P/B. Decent chrome except for pitted windwing posts. Good upholstery and interior trim. Sound paint but quickly wet sanded along edges and oversprayed in wheel wells. Never was, or will be, a great car but it’s been well treated for what it is. A presentable driver bought for presentable Malibu driver money.Lot # 2450 1964 Chevrolet Impala SS Convertible; S/N 41467C115121; Engine # C115121 T115QB; Red/Red vinyl; White vinyl top; Older restoration, 2- condition; Hammered Sold at $47,000 plus commission of 10.00%; Final Price $51,700 – 409/425hp dual quads, 4-speed, no P/S or P/B, buckets and console, AM-FM, wheel covers, bias ply narrow whitewall tires. Funky engine block stamping looks like a bad re-stamp, including evidence of old stamping underneath. Good cosmetics to nearly like new condition but with some age and neglect. A nice driver but not impressive. Bought appropriately for its condition and the doubtful engine configuration. A 409/425hp dual quad 4-speed Impala convertible is worth this much, even if the correct original driveline configuration can’t be verified. This is a great driver, in very good condition.Lot # 2467 1975 Oldsmobile Cutlass 4-4-2 Coupe; S/N 3G37K5M335369; Silver-Grey/Black leatherette; Visually maintained, largely original, 4+ condition; Hammered Sold at $5,500 plus commission of 10.00%; Final Price $6,050 – Automatic, P/S, P/B, 12 inch faux woodrim Grant steering wheel, Sunpro underdash gauges. Radio removed quickly leaving big empty speaker holes in the rear deck and dashboard bezel loose. Dirty underhood with battery flopping around secured only by a worn out bungee cord. Loose, non-functional door lock buttons. Quick old repaint, wobbly swivel bucket seats. There’s more, but the picture should be clear. Described as having a 455 engine, this Cutlass should have a T or W in the fifth position of its VIN. It doesn’t. The K indicates it started life with a 350. It is generally despicable and the new owner got less than the money should have brought.Lot # 2469 1969 Ford Mustang Mach 1 Fastback; S/N 9F02S189639; Blue, Black hood/Black vinyl; Older restoration, 3 condition; Hammered Sold at $25,500 plus commission of 10.00%; Final Price $28,050 – 351/320hp, 4-speed, Hurst shifter, pushbutton radio, (broken) remote driver’s mirror, Magnum wheels, Radial T/A tires, P/S, no P/B, wing, chin spoiler. Flawed but sound paint, orderly but not fresh underhood, good interior. A presentable driver with non-matching engine. Pretty, but not good, this Mach 1 has potential with some attention to its details. Honestly represented as having a replacement engine, the price is reasonable and the new owner can enjoy it without regret.Lot # 2475 1993 Ferrari 512 TR, Body by Pininfarina; S/N ZFFLG40A8P0096416; Red/Tan leather; Visually maintained, largely original, 3 condition; Not sold at Hammer bid of $55,000 – A/C, Pioneer CD stereo, 18 inch chrome wheels with Toyo tires, Tubi exhaust. Quick old repaint over old paint, good original upholstery. Dirty engine. A presentable but not impressive used car showing 31,558 believable miles. This 512 TR could have been cut loose at the reported high bid, even without recent service documentation.Lot # 2478 1959 Chevrolet Corvette FI Convertible; S/N J59S102804; Engine # F1212CS; White/Red vinyl; Older restoration, 2- condition; Not sold at Hammer bid of $115,000 – 283/290hp, 4-speed, WonderBar radio, spinner wheel covers, whitewall tires, 3.70 Positraction, two tops, P/W. NCRS Top Flight and still very good. Sold for $176,000 at Barrett-Jackson Scottsdale in 2008, this is still a high quality Corvette that could, and should, have brought a little more money even if it wasn’t 2008’s extraordinary price.Lot # 2481 1970 Plymouth ‘Cuda Hemi 2-Dr. Hardtop; S/N BS23R0B214317; Lime Light Green FJ5/Black vinyl; Older restoration, 2- condition; Not sold at Hammer bid of $155,000 – 426/425hp, automatic, P/S, P/B, Rallye instruments, Rally wheels with trim rings and F60-15 Polyglas GT tires, pushbutton radio, Argent shaker hood, driving lights. A good older restoration showing age. Dusty engine. Documented with built sheet, Certa-Card and fender tag. 24,521 miles. Not bad, just not fresh. The ‘Cuda Hemi legend continues to dissolve. This reported high bid reflects the seller’s dreams. Reality is here or less and it’s time to get real and let it go.Lot # 2489 1969 Shelby Mustang GT350 Fastback; S/N 9F02M480042; Red/Black vinyl; Cosmetic restoration, 3 condition; Hammered Sold at $60,000 plus commission of 10.00%; Final Price $66,000 – 351/hp, 6-speed, 5-spoke Shelby wheels, Eagle GT-II tires, console gauges, Sport Deck rear seat, Hurst shifter, AM-FM, Vintage A/C, hydraulic clutch, Hedman headers, original 4-speed included. Erratic repaint, good interior and chrome. Once owned by Bob Seger and displayed at The Henry Ford. A used older cosmetic restoration. Bob Seger’s ownership may count for someone, but not a lot. A quality car, but not fresh or especially appealing to serious collectors with its 6-speed transmission, headers, aftermarket A/C and other stuff. This is a bargain entry into the Shelby legend and a result appropriate to the car.Lot # 2491 1930 Ford Model A Deluxe Roadster; S/N A472209330; Brown, Black fenders/Brown leather; Beige cloth top; Older restoration, 2- condition; Hammered Sold at $26,500 plus commission of 10.00%; Final Price $29,150 – Orange wire wheels, whitewalls, dual sidemounts with mirrors, etched wind wings, rumble seat, quail, luggage rack, radiator stoneguard. Good looking older restoration with minor paint flaws but showing prep marks under the fender paint. Good interior, top and chrome. Chassis and underbody show age and some road use. A very pretty Model A with great eye-appeal that will be better after a thorough detailing. Sold at RM’s St. John’s auction a year ago for $25,300, this is a rewarding turn for the seller and a reflection of the car’s generally good presentation. Repainting the fenders after conscientious prep won’t add a lot to the investment and will make this into a show-quality Model A. A sound buy.Lot # 2533 1953 Buick Super Convertible; S/N V2713975; White, Maroon/Maroon leather, White vinyl top; Cosmetic restoration, 4+ condition; Hammered Sold at $42,500 plus commission of 10.00%; Final Price $46,750 – Dynaflow, pushbutton radio, P/W, wire wheel covers, wide whitewalls, windshield washer. This might once have been a decent cosmetically restored car but today it is old, neglected and coming apart. Flaking interior chrome, dull stainless, pitted exterior chrome, dirty engine, soiled top, broken radio antenna. Good but musty smelling upholstery. It is past time for a caring home for this Buick. This poor old Buick finally found a new home after appearances at the Branson auction in 2008 and twice in 2010. It brought $36,720 there in 2008 but was rejected in 2010. The result here is a gift for a car that’s barely better than ratty. It has so many needs they’re impractical to list. Good luck.
Another great auction report by Rick. Always look forward to these, and appreciate the candor of his descriptions and the great photos. Looking forward to many more in this coming auction season. Great job !!
Agreed, I enjoy reading the comments as much as looking at the pictures. Well done, thanks Rick !