Leake Oklahoma City 2013 – Auction Report

Leake Oklahoma City 2013 – Auction Report Page Two

1936 Lincoln Model K All Weather Cabriolet
Lot # 466 1936 Lincoln Model K All Weather Cabriolet, Body by Brunn; S/N K5686; Beige/Brown leather, cloth; Brown leather top; Cosmetic restoration, 3- condition; Hammered Sold at $130,000 plus commission of 10.00%; Final Price $143,000 – Rollup divider, jump seats, dual enclosed sidemounts with mirrors, sliding tendelet over driver’s compartment, smoker’s kit and vanity, luggage rack. – Tired old cosmetic restoration with flawed, touched up paint, good older interior and dirty underbody and chassis. Sound, but not very attractive. Reportedly owned when new by Richard Ringling of the circus family, one of ten of this style built by Brunn in 1936. – This is a car that will get attention in Montana in the Thirties, although not necessarily positive attention. It was sold by RM at Meadow Brook in 2005 for $50,600, then reported sold at Auburn Fall a few months later for $46,440. It is still in essentially the same condition it was in eight years ago and shows only 32 more miles on its odometer. It is a stately and imposing, if not particularly attractive, automobile and a CCCA Full Classic ™ but has serious and extensive needs that make this a generous price.
1968 Chevrolet Corvette Coupe
Lot # 468 1968 Chevrolet Corvette Coupe; S/N 194378S413329; Silverstone Silver/Black leather; Visually maintained, largely original, 3+ condition; Hammered Sold at $62,000 plus commission of 10.00%; Final Price $68,200 – 427/390hp, 4-speed, P/S, P/B, A/C, P/W, Rally wheels with trim rings, red line tires, AM-FM, T-tops, removable rear window, 3.08 Positraction – Documented back to 1968 including the original window sticker. Good clearcoat repaint, interior and chrome. Underbody looks original. – Sold for $40,700 at Barrett-Jackson’s Orange County sale in 2011, then for $49,500 at WestWorld this January, this result is nothing less than tremendous for a moderately powerful ’68 Big Block with a long equipment list.
1967 Chevrolet Corvette 427-435 Roadster
Lot # 477 1967 Chevrolet Corvette 427/435 Roadster; S/N 194677S103862; Black,, Red stinger/Black; Older restoration, 3+ condition; Hammered Sold at $77,000 plus commission of 10.00%; Final Price $84,700 – 427/435hp, 4-speed, side exhausts, J56 brakes, side exhausts, heater and radio delete, Rally wheels with trim rings, redline tires, hardtop only – Mediocre repaint, good chrome and interior. Done a while ago to mediocre standards and now no more than an eye-catching driver. – This is a potentially disappointing but highly desirable Corvette. The equipment list is impressive, and the performance should be, too. Lack of a heater might make the driving season a little short, though. The trouble is the disappointing treatment, let alone any mention of ‘matching numbers’ or the original configuration. It was reportedly bid to $110,000 at Mecum’s St. Charles sale last October and crossed the block at Kansas City in December without selling. The price it brought here intelligently handicaps the competing considerations, i.e., 427/435hp and J56 brakes v. no documentation v. disappointing presentation.
1969 Ford Mustang Fastback
Lot # 479 1969 Ford Mustang Fastback; S/N 9R02S131030; Yellow,, Matte Black hood/Black vinyl; Cosmetic restoration, 3- condition; Hammered Sold at $34,500 plus commission of 10.00%; Final Price $37,950 – 390/320hp, automatic, P/S, P/B, 17 and 18 inch alloy wheels, cassette stereo – Freshly painted with trim installed. Floors replaced. Shifter doesn’t fit console which is trimmed with a piece of hardware store aluminum. Sound upholstery. Overspray in fender wells. Dirty windshield and rear window corners. A superficial auction car. – There is nothing particularly desirable or attractive about this kluged-up cafe racer Mustang but the new owner paid dearly for it. $15-18,000 would not have been cheap for this car.
1997 Ferrari 550 Maranello Coupe
Lot # 485 1997 Ferrari 550 Maranello Coupe; S/N ZFFZR49A0V0109664; Black/Black leather; Unrestored original, 3+ condition; Not sold at Hammer bid of $43,000 – 6-speed, JVC CD stereo, matte black wheels, SF shields, power Daytona seats. Assembly #26765 – Clean, unblemished used car with belt service a year ago. Clean Carfax. Light driver’s seat bolster wear. Odometer shows 44,262 believable miles. Belt serviced 13 months ago. – The prices of 550 Maranellos are still coming down, but they haven’t come down this far.
1964 Chevrolet Corvette Coupe
Lot # 487 1964 Chevrolet Corvette Coupe; S/N 40837S119096; Engine # 3782870 RE; Red/Black; Visually maintained, largely original, 3+ condition; Not sold at Hammer bid of $35,000 – 327/365hp, 4-speed, Rally wheels with trim rings, blackwall tires, cassette stereo, P/S, 4.11 Positraction – Rebuildable original block included but not installed. Also comes with original spinner wheel covers. Odometer broken. Good paint, chrome and interior. Seats and trim are original, carpets are new. Engine compartment is clean but not restored. A sound, attractive Corvette in good, reassuring sharp driver condition. – This Corvette, even with its original block in a crate, is a better car than the high bid.
1972 Oldsmobile Cutlass Convertible
Lot # 511 1972 Oldsmobile Cutlass Convertible; S/N 3J67K2M253858; Fire Orange/Saddle vinyl; White vinyl top; Visually maintained, largely original, 3 condition; Hammered Sold at $16,000 plus commission of 10.00%; Final Price $17,600 – 350/180HP, automatic, P/S, P/B, A/C, Rally wheels with trim rungs, narrow whitewalls, AM-FM – Good older repaint, orderly and clean unrestored engine. Good interior, discolored top. Straight, sound body. A good car that needs nothing to be enjoyed and is described as having its original (if mundane) drivetrain. – While the power is lacking, the equipment is good and the paint color is HOT. An enjoyable weekend driver rendered even better down here in Oklahoma by the A/C and bought for a modest price.
1965 Ford Mustang Convertible
Lot # 512 1965 Ford Mustang Convertible; S/N 5F08C651576; Rangoon Red/Red Pony; Black cloth top; Visually maintained, largely original, 3 condition; Hammered Sold at $18,500 plus commission of 10.00%; Final Price $20,350 – 289/200hp with Shelley aluminum intake and a 4-barrel, automatic, P/S, cassette stereo, styled wheels, narrow whitewalls, Rally Pak gauges, console, woodgrain steering wheel, fog lights in grille – Very good older repaint now showing age and badly water spotted. Sound chrome and original interior. Faded old cloth top. Scuffed stainless. Oily and original underhood and chassis. Am intriguing, honest sound car. – First generation Mustang convertibles are excellent starter cars for collectors. There are a lot of them so the prices are modest, parts and service are easy to find, there are active clubs and activities and when the time comes to sell there is a steady market giving good liquidity. This is a realistic price for this car’s condition and specification (and the intake manifold really does say ‘Shelley’, not Shelby.)

[Source: Rick Carey]

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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.