Mecum Monterey 2012 – Auction Report Page Three

1974 Shadow DN4 Can-Am
Lot # S129 1974 Shadow DN4 Can-Am; S/N DN4-4A; Black “UOP”/Black; Competition car, original as-raced, 2- condition; Not sold at Hammer bid of $350,000 — RHD. One race from new, the 1976 Mosport World Sports Car Championship which needed fresh blood to fill the field. Driven there by Jacky Ickx it sat on the pole, set the lap record and led every lap, then was retired again to Don Nichols’ dry storage facility in California where it has resided for the last thirty-six years. Freshly cleaned up and polished but essentially unused and completely original. The 494 cubic inch 800 hp fuel injected Chevy runs, loudly, and has been freshly serviced. Offered directly from Don Nichols’ Advanced Vehicle Systems. How many Can-Am cars come from the ownership of their original race team? ‘None’ is the probable answer, but this one does. Its competence has been demonstrated, albeit a third of a century ago, and it’s not surprising Don Nichols decided to take it back home to Salinas. What is it worth? A lot more than this.
1970 Ford Mustang Boss 302 Trans Am Race Car
Lot # S134 1970 Ford Mustang Boss 302 Trans Am Race Car; S/N 18159; School Bus Yellow, Black stripe/Black; Competition restoration, 3+ condition; Not sold at Hammer bid of $300,000 — White painted 8-spoke alloy wheels, Jones tach, SW gauges. A real Bud Moore Boss 302 built from a body in white for the 1971 season and driven by Peter Gregg with five podium finishes. Known history since, twice restored and sharp in Moore’s School Bus Yellow. Clean, fresh and sharp with good cosmetics. Orderly inside and out. A serious race car. Sold by RM in Monterey in 2003 for $343,200, then by Gooding in Scottsdale in 2009 for $407,000, this bid is patently insufficient for the car’s history and preparation.
1970 Lola T165 Can-Am
Lot # S135 1970 Lola T165 Can-Am; S/N SL165-22; Red/Black; Competition restoration, 3 condition; Not sold at Hammer bid of $350,000 — RHD. High wing, Chapparal 900hp engine. Carl Haas team car, later driven by PL Newman and Jack Hinkle. 1990’s restoration by Bruce Canepa. Used vintage racecar. Chaparral valve covers, throttle body FI. Potentially breathtaking but not ready to be raced. Mecum couldn’t ignite a fire under the Can-Am cars in Monterey, surprising since this is the best road racing car market in North America. This result bears no relationship to the underlying value of this Lola.
1936 Auburn 852 Supercharged Boattail Speedster
Lot # S136 1936 Auburn 852 Supercharged Boattail Speedster; S/N 35364E; Cadet Grey/Beige leather; Black cloth top; Older restoration, 2+ condition; Not sold at Hammer bid of $625,000 — Berge painted wire wheels, blackwall tires, radio. A-C-D certified, Pebble Beach 2006, AACA Senior 2007. Still show quality. Particularly attractive colors and impeccably presented. An example of the most desirable Auburn around with thorough documentation and an exceptional restoration in choice colors, but the reported high bid is an accurate representation of its value and it could have been sold at the reported bid.
1971 McLaren M8E Can-Am
Lot # S142 1971 McLaren M8E Can-Am; S/N None; Orange, Blue stripe/Black; Competition restoration, 3 condition; Not sold at Hammer bid of $135,000 — RHD. Crashed by Vic Elford driving for Roy Woods at Laguna Seca in 1971. Later restored with a replacement tub by Benton Bryan, powered by a Keith Black aluminum Chevy with Lucas fuel injection. An orderly vintage racecar not used in a few years. It would probably cost as much as the high bid here to get this car thoroughly checked before experiencing its prodigious power, let alone campaign it on a few historic race weekends. For its performance (and presence) anything close to the reported bid would be modest indeed.
1972 Ferrari 365 GTB-4 Daytona Spider
Lot # S151 1972 Ferrari 365 GTB/4 Daytona Spider; S/N 14857; Red/Black leather, Red stripes; Visually maintained, largely original, 2- condition; Hammered Sold at $1,050,000 plus commission of 6.00%; Final Price $1,113,000 — Chrome spoke Borrani wire wheels, Michelin X tires, popup lights, Becker Mexico cassette, A/C. 21,185 miles from new. Good paint, chrome and interior but the underbody is covered in old undercoat, just like it came from Maranello. An experience auction car offered at Christie’s Pebble Beach in 1992 with a no-sale bid of $480,000, sold here by Mecum in 2010 for exactly the same price it brought today, with a brief interlude on the docket but not seen at Mecum Indy earlier this year. At this price it’s a sound value that deserves a new home where it will get some use
1930 Duesenberg Model J Limousine
Lot # S155 1930 Duesenberg Model J Limousine, Body by Willoughby; S/N 2402; Engine # J-306; Green/Beige leather; Older restoration, 3- condition; Not sold at Hammer bid of $350,000 — Chrome wire wheels, dual sidemounts with strap on mirrors, whitewalls, driving light, luggage rack, dual taillights, rollup division, jump seats, flower pattern carpets. Firewall #2402, no visible frame number, engine # J-306 (originally J-383.) ACD Category 1 certified. Good repaint looks newer than the restoration. Good chrome with minor weak trim items. Oily residue and road grime on chassis. Old interior is sound but aged and discolored. Sound but aged interior wood. Interior trim chrome is aged and worn off on some door handles. Paint touched up on windshield post cracks. A sound but aged and toured old restoration. Back for another bit at the apple, this luxuriously bodied Willoughby Limo Duesenberg J reprised its no-sale result at Mecum’s Kissimmee auction earlier this year. Without some serious attention it’s going to languish in this price range and the owner ought to get the clue. Find real money and let it go.
1965 Maserati Tipo 151 Replica Coupe
Lot # S178 1965 Maserati Tipo 151 Replica Coupe; S/N AM107252; Red, White stripe, Silver sills/Black vinyl; Facsimile restoration, 3 condition; Not sold at Hammer bid of $150,000 — RHD. Chrome spoke Borrani wire wheels, Avon blackwall tires, fire system, Maserati V-8, four Webers, covered headlights and driving lights. Based on an early Quattroporte (AM107) chassis and 4.7 liter engine with 5-speed, disc brakes and deDion rear suspension. Flawed, blistered fiberglass bodywork and paint. Clean but aged inside. A well-used vintage race car acceptable wherever replicas are overlooked. The bodywork is, well, loosely based on the Tipo 151 and it’s not hard to imagine the fun this Maserati can be, but it’s probably not $150,000 worth of fun.
1950 Cadillac Series 62 Convertible
Lot # S185 1950 Cadillac Series 62 Convertible; S/N 506243811; Light Gold/Beige leather; Beige vinyl top; Visually maintained, largely original, 5+ condition; Hammered Sold at $39,000 plus commission of 6.00%; Final Price $41,340 — An awful, despicable, reprehensible car with too many flaws to be described. Hideous. One of the worst cars to be offered at a respectable auction in years with a lumpy body, mismatched paint distinguished by sags and runs, discolored chrome and an interior that’s scary to touch. Described as a ‘Frame-up restoration just completed’ it must have been done in the dark with a vacuum cleaner powering the spray gun. RM offered this car at St. Johns last month but the bidders showed no interest in it. It passed into oblivion only to turn up here in Monterey. It might be worth $8,000 as a parts car. It is horrible, without a single redeeming feature except a VIN number.

[Source: Rick Carey]

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Show Comments (5)

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  1. great coverage Rick with insiteful commentary. It seems like market forces are at work – with few exceptions, a near perfect vehicle and presentation are necessary to bring top dollar. And some interesting bargains to be had as well ! thanks !

  2. Love the honesty, the review on the Cadillac is frank, to say the least. At some auctioneers, one might expect such a car to be weeded out, or at least the information to be presented more accurately. Sad to see this is not the case at RM or Mecum. Such an issue is exactly what keeps more interested, yet novice buyers as myself on the sideline.

    1. GMan,
      The essence of the auction process is that the bidder is charged with the responsibility for examining the product and deciding what, if any, price to bid, a qualification that applies in any buyer-seller situation. The auction company isn’t the guarantor of the article, or the representation.
      While I agree in principle that Mecum would have done itself a favor by turning the Cadillac away at the door, on the other hand not all buyers expect, or want to pay for, a pristine ready-to-show car. Some, in fact, are looking for a project to adopt and nurture
      The situation at any live auction is much better than buying on-line: at least the bidders have the chance to see the car, slam the doors, open the hood, smell the interior and kick the tires.
      All the auction companies have a range of cars on offer. Even the most hoity-toity sometimes has to accept a [sub-] marginal car from a good consignor or as part of a package consignment with one or more particularly desirable cars.
      It’s not an excuse, but it is a reason.
      C’mon out and look at the cars. They’ll talk to you and it’s not difficult to separate the good from the bad.

      Rick

      1. Rick, Thanks, I’m planning to go to Mecum in Kissimee in January for my first taste as a potential buyer. I went to Barrett-Jackson in West Palm in April as an observer, which was a lot of fun! Thanks and hope to meet you somewhere along the way.

  3. Rick is right when he says that the bidders on the Simplex plainly accepted the auction’s representation that it is the oldest known Simplex. Unfortunately, among many Simplex owners this faux automobile created quite a stir when it was assembled from various parts years ago with the sheet metal done for the car at that time.