Leake Oklahoma City 2013 – Auction Report

Leake Auction Company, Oklahoma City, Oklahoma, February 19-20, 2013

Report and photos by Rick Carey, Auction Editor

Anyone who spends much time looking back of the histories of collector cars and the collector car auction market knows the Leake name.

The dynasty’s founder, James C. Leake, was a successful owner of radio stations but his real love was old cars and his name appears in the ownership histories of many of the greatest classics. He was a pioneer in collector car auctions, starting out with Parke Bernet in the Sixties and continuing with Sotheby’s after it acquired Parke Bernet.

His family – daughter Nancy and her husband Richard Sevenoaks and their daughter and son-in-law – continue the tradition holding three auctions annually in Oklahoma and Texas.

The atmosphere at a Leake auction is steeped in tradition, as well as changing with the times as the definition of collector cars has evolved. The cars that bidders drove to the early Leake sales are now highly sought trophies crossing the Leake Auction block for record prices.

This year’s Oklahoma City sale featured several cars consigned by the team featured on CNBC’s ‘Car Chasers’. They brought with them an influx of television cameras that injected an element of excitement not quite to the level of ‘media frenzy’, but definitely several notches up on the frenzy scale from even the usual rapid Leake Auction pace.

The Leake Auction team always finds unusual cars, from rare classics to promising restoration projects, that make their auctions good hunting for collectors from the individual seeking his or her first collector car to seasoned professionals seeking specific trophies.

Leake Oklahoma City
Cars Offered / Sold
Sale %
Average Sale
Median Sale
Total Sales
2013
347 / 255
73.5%
$22,134
$15,400 [69.6%]
$5,644,265
2012
297 / 197
66.3%
$20,822
$11,660 [56%]
$4,101,845
2011
342 / 221
64.6%
$17,511
$14,520 [82.9%]
$3,870,020

Leake Oklahoma City 2013 – Auction Report

1957 Ford Thunderbird Convertible
Lot # 2483 1957 Ford Thunderbird Convertible; S/N D7FH135665; Red/Red, White; White vinyl top; Cosmetic restoration, 3+ condition; Hammered Sold at $34,500 plus commission of 10.00%; Final Price $37,950 – 312/245hp, automatic, P/S, P/B, aftermarket A/C, cassette stereo, wheel covers, whitewalls, skirts, engine dressup – A good, sound, clean and detailed older cosmetic restoration with very good cosmetics and little evidence of use. A good, usable car with three original wire wheels and a Thunderbird Monopoly game [sic] included. – Reported sold at Leake’s Tulsa sale last June for $41,580 and turned over here at a modest loss, a price today that is consistent with its specifications and condition.
1955 Ford Thunderbird Convertible
Lot # 2484 1955 Ford Thunderbird Convertible; S/N P5FH171466; Red/Red, White; Cosmetic restoration, 3+ condition; Hammered Sold at $22,000 plus commission of 10.00%; Final Price $24,200 – 292/193hp, 3-speed, Vintage A/C, power seat, 12 volt electric system, cassette stereo, wheel covers, porthole hardtop only, skirts, narrow whitewalls – Cosmetically restored to good driver standards with good paint, chrome and interior. Chassis and engine show wear and use but are orderly. A sound and presentable driver. – This highly presentable although only cosmetically restored T-bird brought a modest price for its 3-speed transmission and several upgrades that significantly enhance its utility and enjoyability as a weekend driver. It is a good value at this price.
1969 Chevrolet Chevelle 2-Dr. Hardtop
Lot # 2492 1969 Chevrolet Chevelle 2-Dr. Hardtop; S/N 13177A110942; Grey/Black vinyl; Modified restoration, 3- condition; Hammered Sold at $26,500 plus commission of 10.00%; Final Price $29,150 – Badged 396 but has a 454 under the hood. 4-speed, buckets and console, 17 inch Torque Thrust style wheels, blackwall tires, P/S, Positraction, front disc brakes, Sun tach, temperature and oil pressure gauges on steering column, also badged SS, but isn’t – Fair repaint, good major chrome but thin trim. Radio missing. Underbody superficially squirted with chassis black. Not a very pretty car. – This promises to be a fun weekend cruiser, but it isn’t what it appears to be – despite great efforts to make it into something it isn’t – and the workmanship is less than reassuring. The seller should be extremely happy to get this much for it. The buyer, not so much.
1969 Ford Mustang Mach 1 Fastback
Lot # 2494 1969 Ford Mustang Mach 1 Fastback; S/N 9R02M148884; Wimbledon White,, Gold accent, Matte Black hood/White vinyl; Cosmetic restoration, 3+ condition; Not sold at Hammer bid of $44,000 – 351/290hp, 4-speed, P/S, P/B, hood tach, 8-track stereo, chrome wheels with trim rings, F70-14 Polyglas tires, Sport Deck rear seat – Sound repaint over old paint, good chrome and new interior. Engine and chassis are clean and orderly but not restored or overly detailed. Described as a two-owner California car documented with the original build sheet and a Marti Report, this is an attractive but only driver quality Mustang. – This Mach 1 should have been loose and selling well before reaching the reported high bid, which is more than enough to see it on its way to a new owner. It’s a fast, fun, good looking Mustang, but it is worth no more than the reported bid.
1963 Chevrolet Impala SS 2-Dr. Hardtop
Lot # 2496 1963 Chevrolet Impala SS 2-Dr. Hardtop; S/N 31847S119899; Black/Saddle vinyl; Older restoration, 3+ condition; Hammered Sold at $25,500 plus commission of 10.00%; Final Price $28,050 – 327/250hp, Powerglide, P/S, P/B, aftermarket A/C, spinner wheel covers, narrow whitewalls, dual outside mirrors and dual rear antennas, buckets and console, cassette stereo – Decent repaint, good chrome and interior. Nicely done underhood and underbody. This would be a very good Impala but far the erratic repaint. – Chevy dealers ordered Impala SS sport coupes like this by the truckload to line their front rows. With its 327/250hp engine and Powerglide it is vanilla, but vanilla is better than no flavor at all and the added A/C vastly enhances its 4-season appeal. The price is reasonable for what it is.
1967 Chevrolet Chevelle SS 2-Dr. Hardtop
Lot # 447 1967 Chevrolet Chevelle SS 2-Dr. Hardtop; S/N 138177G111468; Engine # T0103ED; Maroon,, Black vinyl roof/Black vinyl; Older restoration, 2+ condition; Hammered Sold at $36,500 plus commission of 10.00%; Final Price $40,150 – 396/325hp, 4-speed, 3.31 Positraction, P/S, P/B, buckets and console, pushbutton radio, Rally wheels with trim rings, red line tires – AACA National First Prize in 2006 and other awards. Represented as matching numbers engine. Excellent paint, chrome and interior. Sharp, clean restoration that looks newer than its show history. – Offered at Mecum’s Indy auction last May with a high bid of $41,000, then at Mecum’s Dallas auction in September where it was bid to a reported $43,000, the seller finally got the message and let it go here. The new owner got a very attractive, powerful Chevelle SS for modest money.
1963 Ford Falcon Convertible
Lot # 449 1963 Ford Falcon Convertible; S/N 3H15U194460; White/Black leatherette; White vinyl top; Visually maintained, largely original, 3- condition; Hammered Sold at $9,500 plus commission of 10.00%; Final Price $10,450 – 170/101hp six, automatic, pushbutton radio, wire wheel covers, narrow whitewalls, power top – Auction repaint looks good on the block. Good chrome. Cracked, sunrotted dash top, pulled driver’s seat seam. Heavy old undercoat in wheel wells. This car needs a caring home willing and able to give it the attention it desperately needs. – This is the ‘high performance’ six in lieu of the standard 144 cubic inch 85 horsepower boat anchor. A car of limited appeal, the seller should be very happy to be rid of it, and even happier to get this much for it.

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Show Comments (2)

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  1. Patina seems to be the “in” thing at auctions these days. However, I don’t see any owners of muscle cars bragging about patina. Any thoughts?

  2. Jack,
    This is a very perceptive observation. Fortunately the Mecum Kansas City auction gives us a couple of instances in which to examine it in more depth.
    I should have the report ready for Jamie to post next week after I return from Worldwide Houston and the Concours d’Elegance of Texas.

    Rick