RM Auctions, Ritz-Carlton, Amelia Island, Florida, March 9, 2013
Report and photos by Rick Carey, Auction Editor
RM turned in the highest total in its 15 year history at Amelia Island in 2013, continuing a string of $20+ million sales, and doing it with 24% fewer cars than last year. The 92% sale rate helped, but even more help was the lineup of seven-figure cars that came under Max Girardo’s hammer of which five were sold.
The sale was led by the marvelously beautiful Duesenberg SJ Walker-LaGrande disappearing top convertible coupe, – a car that makes Murphy’s version of the same body style look staid and conventional – for $4,510,000.
While the Duesie topped the sale total the surprise of the event was the 1911 Lozier Model 51 which buried its pre-sale estimate with a $1.1 million price. Capable of 80 miles per hour (in 1911!) when there were few roads capable of achieving that speed, the operator’s manual instructed the driver, “When you reach 70 miles per hour, you may shift into fourth gear.” That’s about what happened on the block when the Lozier reached its estimate: the bidders shifted into high gear.
RM’s Amelia Island sale reflected RM’s recent emphasis on fewer, but more valuable, cars and with few exceptions they delivered just that. Thirty-three lots were consigned without reserve, 37.5% of the total auction, assuring bidders that there was a better than 1:3 chance a car they wanted would in fact go home with a new owner at the end of the day.
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In quality and diversity RM’s Amelia Island auction mirrors the continuing improvement of the Amelia Island Concours d’Elegance and the Concours-related ever-expanding list of attractions and activities that it complements. This is getting to be like Monterey, without Monterey’s traffic and widely dispersed activities so it’s possible to sample pretty much everything on the busy calendar.
RM Auctions Amelia Island 2013 – Auction Report
Lot # 120 1925 Bentley 3-Liter Tourer, Body by Gurney Nutting; S/N 930; BRGreen, Aluminum hood/Tan leather; Natural cloth top; Estimate $225,000 – $325,000; Older restoration, 3+ condition; Hammered Sold at $210,000 plus commission of 10.00%; Final Price $231,000. – Green wire wheels, blackwall Goodrich Silvertown 6.00-20 tires, nickel brightwork, dual side-mounted spares, Auster rear windshield, SU carbs and an electric fan added. – Represented as matching numbers with its original coachwork. Paint worn and chipped especially around the doors. Interior worn and lightly soiled. Underside displays ample evidence of being driven. Known history and perfect for participation in Bentley Driver’s Club events. – Something of a regular at auction, sold by Gooding & Company at Scottsdale in 2010 for $253,000, then at Amelia in 2011 for $236,500. While the price is declining the Bentley isn’t, presented here at RM Amelia in essentially the same, well-maintained, good Bentley Driver condition in which it has been for the past three years. This is a car that can be driven and enjoyed without undue concern for bug splatter, stone strikes or squashing small birds or mammals, let alone humbling lesser sports cars. Its matching numbers chassis and engine is complemented by the original Gurney Nutting tourer coachwork. It is a sound value at this price, as it was at $236,500 or $235,00. Lot # 129 1911 Lozier Model 51 7-Passenger Touring; S/N 3574; Engine # 3539; Dark Olive Green, Gold coachline, Black fenders/Black leather; Beige cloth top; Estimate $400,000 – $600,000; Older restoration, 3+ condition; Hammered Sold at $1,000,000 plus commission of 10.00%; Final Price $1,100,000. No Reserve – Body color wood spoke wheels, blackwall tires, Solar headlights, Waltham clock, dual right side spares, cloth covered trunk, air starter – Displayed at the Henry Ford in the 50’s, then bought by Harrah’s. Acquired by Ken Pearson in 1968 and restored to the highest standards of fit, finish and function, then toured over 62,000 miles, goes over 80 mph. 1970 AACA National First Prize winner. A real stud, still in very presentable condition. An indication of the quality of the workmanship and materials is the story recounted by RM’s specialists that when they re-commissioned it before the sale, the air starter tank still held enough pressure to fire up the 554 cubic inch six. – On a scale of 1-10 for stud cars this is a 10. Big, powerful, fast and with a massive presence that reduces other automobiles to relative insignificance, even recognized studs like Oldsmobile Limiteds and Locomobile 48s. Object evidence that in the early 20th century the best automobiles in the world were built in America, its recent history of touring tens of thousands of miles and its exceptional condition make its way over high estimate price only a recognition of its quality and performance. It’s expensive, and it deserves to be. This is really a spectacular piece of usable automobile history. Lot # 134 1974 Ferrari 246 GTS Dino; S/N 07724; White/Tan leather, Black stripes; Estimate $300,000 – $350,000; Cosmetic restoration, 3+ condition; Hammered Sold at $275,000 plus commission of 10.00%; Final Price $302,500. – A/C, Cromodora wheels, Michelin XWX tires, Daytona-style seats with headrests, P/W, leather-rim steering wheel, no radio – Good paint and chrome. Underbody is painted over old undercoat. Good but visibly aged original interior. An attractive Dino driver in an unusual color. – Unusually well maintained and largely original, this is an attractive Dino in a rarely seen color as it was delivered when new. In the current market, where Dinos are highly valued and achieve exuberant prices, this is a sound value. Lot # 137 1935 Duesenberg Model SJ Convertible Coupe, Body by Walker-LaGrande; S/N 2405; Engine # J-530; Maroon/Tan leather; Estimate $3,500,000 – $5,000,000; Concours restoration, 1 condition; Hammered Sold at $4,100,000 plus commission of 10.00%; Final Price $4,510,000. – Body color wheel discs, whitewalls, dual remote spotlights, dual enclosed sidemounts with mirrors, mesh hood sides, outside exhaust head pipes – One of three built in this body style with skirted front fenders, teardrop fenders and a dramatically sloped rear deck with crank-operated disappearing top. Factory supercharged from new; frame replaced in 1940 after an accident. Concours restored with excellent paint, brilliant chrome and inviting upholstery. First in Class and Gwenn Graham Award at Pebble Beach in 1998. Shows no evidence of use and little age despite participating in several tours – Opened at $2 million. Reserve met at $3.5 million. There are two Duesenbergs extant with this chassis number, the other being the Rudolf Bauer Rollson cabriolet with engine J-397. The history of this car is well known and it is impossible to mistake for anything else, with breathtaking bodywork that is as pretty as any 540K Special Roadster (and it’s faster, too.) Generously but appropriately estimated by RM, the bidders recognized the quality of J. Herbert Newport’s design with a mid-estimate range price entirely appropriate to its presence. Lot # 139 1965 Shelby Mustang GT350 Fastback; S/N SFM5S226; White, Metallic Blue stripes/Black leatherette; Estimate $225,000 – $275,000; Recent restoration, 1 condition; Hammered Sold at $220,000 plus commission of 10.00%; Final Price $242,000. – AM radio, dash top tach blister, woodrim steering wheel, 5-spoke Shelby alloy wheels – Impeccably restored and presented. Freshly serviced and detailed. – Sold by RM here in 2000 for $68,200, then again later that year in New York for $66,000, both with a later R-type nose which now has been returned to correct original condition with the original parts retained with the car. As good a first year GT350 as could be asked for, bought at a reasonable price. Lot # 142 1966 Shelby Cobra 427 Roadster; S/N CSX 3259; Red/Black leather; Estimate $800,000 – $950,000; Recent restoration, 1 condition; Hammered Sold at $760,000 plus commission of 10.00%; Final Price $836,000. – 427 ‘side-oiler’, centerlock Halibrand alloy wheels, Goodyear Blue Streak tires, chrome side exhausts, chrome paperclip rollbar, four Webers on a Holman and Moody intake, quick jack pickups. – Restored in 2008 and still over-restored, show quality, showing exactly the same 30,181 miles on the odometer as it did in 2010. – Offered by Bonhams at Quail Lodge in 2002 (before restoration) and 2010 where it failed to find a new owner both times, then sold by RM in Arizona in 2011 for $643,500. This is an appropriate price today, but a car that will not suffer use without losing the edge of its over the top restoration and years of static display. It’s more of an object than an automobile, having lost its rip-roaring soul in the pursuit of restoration perfection. Lot # 144 1939 Alfa Romeo 6C 2500 Sport Berlinetta; S/N 915030; Engine # 823113; Blue-Green/Tobacco leather; Estimate $1,500,000 – $1,750,000; Concours restoration, 1- condition; Not sold at Hammer bid of $900,000. – Body color wire wheels, blackwall tires, skirts, trafficators – Engine replaced with a 2300 bored to 2.5 liters, 2500 cylinder head, carburetor, manifolds and ancillaries. Restored in 1998, 2nd in Class and Most Elegant Closed Car at Pebble Beach in 1998, still good enough to be Best Pre-War Alfa at The Quail in 2012. Excellent paint, chrome and interior showing only faint evidence of being used. – A particularly beautiful example of late Thirties’ design by Touring, equally particularly well restored and presented. The engine block swap doesn’t help its value, but shouldn’t detract as much as the difference between the high bid and the low estimate. Most collectors well never get close to buying a Two-Nine Berlinetta, but this Two-Five is close at least in appearance if not in performance. The high bid is about as far short of a reasonable price for this Alfa as the low estimate is over it. Lot # 148 1952 Ferrari 225 Sport Berlinetta ‘Tuboscocca’, Body by Vignale; S/N 0168ED; Red/Tan leather; Estimate $1,000,000 – $1,400,000; Competition restoration, 3+ condition; Hammered Sold at $1,125,000 plus commission of 10.00%; Final Price $1,237,500. – Silver painted wire wheels, 5,50-16 Dunlop Racing tires, original tool roll – 8th overall, 2nd in class at Sebring in 1953, later winner of the Sagua-Havana Rally in Cuba and the Cuban Sports Car Grand Prix. Restored for Donald Wasserman with an early 250GT engine. First in Class at Pebble Beach in 1979, later vintage raced. Recently gone through and upgraded for tours with a 5-speed full synchro gearbox (original included), Tilton clutch, rebuilt Houdaille shocks and more. Comes with large history file including its ’79 PB ribbon and pass. Good paint, chrome and older upholstery. Restored to sound and attractive events condition. – Sold by RM at Monterey in 2009 for $781,000, then by Gooding at Pebble Beach in 2011 for $880,000, this is a highly desirable, functional, handsome Vignale bodied car with good racing history from new that much enhances its eligibility for historic events and tours. The modern 5-speed will make it easier to drive, but does nothing to enhance its value. However, it looks cool, seriously cool, and on that alone the bidders’ willingness to part with a generous pile of dead presidents for it is understandable. A similar Vignale-bodied Ferrari race car of this ear with the right engine, etc. would be much, much more.
RM Auctions Amelia Island 2013 – Auction Report Page Two
Lot # 148 1970 Porsche 908/3 Sports Racer; S/N 004; Gulf Blue, Orange/Red cloth; Estimate $1,400,000 – $1,700,000; Competition restoration, 2+ condition; Not sold at Hammer bid of $1,300,000 – 2 seats, 5-point belts, chrome driver’s rollbar, black wheels, Avon tires – Built up from a chassis originally used by Porsche for static fatigue testing, never bodied or raced. Later a spare for Kremer Racing and eventually passed on to Dale Miller who built a new body, found a correct engine and sold it to the consignor. Raced subsequently in US vintage events about 12 times. Essentially a car built from spares with a reproduction body and components from … wherever, but done to meticulous standards and highly impressive in cosmetics and preparation. – Extensively justified in the catalog (‘implying that this car is nearly as desirable in terms of originality as most of the other remaining 12’ [one has its original body]. The bidders weren’t convinced, at least at the described catalog estimate range, but at the reported high bid it wasn’t far off from a price that would have made it possible for RM to find a way to make the deal. Lot # 150 1971 Ferrari 246 GT Dino; S/N 01968; Black/Black leather; Estimate $250,000 – $300,000; Older restoration, 3+ condition; Not sold at Hammer bid of $230,000 – Becker Mexico cassette, P/W, Cromodora wheels, Michelin XWX blackwalls, covered headlights – An older restoration with good chrome, new paint and new interior. Underbody not done to the standards of the top, and shows some age and use but a very attractive driver. – A seriously good looking Dino in black which looks great on its quality, good fitting bodywork. Its failure to find a new owner may indicate a slackening in the seemingly endless escalation of Dino prices. Lot # 151 1939 Talbot-Lago T-23 3-Position Cabriolet; S/N 93463; Light Blue, Blue fenders/Brown leather; Beige cloth top; Estimate $140,000 – $180,000; Older restoration, 3- condition; Hammered Sold at $145,000 plus commission of 10.00%; Final Price $159,500. No Reserve – Wilson pre-selector gearbox, cloth covered inset rear spare, Marchal headlights and fog lights, fender mirrors, steel spoke wheels, blackwall tires – Sound but tired old repaint, mediocre chrome, aged but sound upholstery. Faded old top. Underbody and chassis are covered in road grime. Visible corrosion in body sills. Aged but usable as is and would be a great tour car. – This is a car with great potential for touring, with ample power and good weather protection when needed. It will take a full re-restoration to bring it to show quality, however, and that’s not cheap. The two alternatives are reasonably reflected in the price it brought here. Lot # 152 1931 Cord Front Drive L-29 Cabriolet; S/N 2929758; Limousine Maroon, Grey accent/Grey leather; Beige cloth top; Estimate $450,000 – $650,000; Concours restoration, 1 condition; Hammered Sold at $370,000 plus commission of 10.00%; Final Price $407,000. – Chrome wire wheels, blackwall tires, dual sidemounts with strap-on mirrors, rumble seat, trunk rack, Woodlite headlights and cowl lights – Excellent paint, chrome, interior and top. Chassis and underbody are as nice as the exterior. Pebble Beach class award winner in 1987, then again in 2006. E.L. Cord Award by ACD Club in 2006. – An exceptionally well restored car in beautiful, subtle colors and materials that brought a healthy but not unreasonable price. The new owner will be proud to own, drive and show this L-29, but maybe even more proud of securing its ownership at this price. Lot # 154 1929 Cord Front Drive L-29 Town Car, Body by d’Ieteren Freres; S/N 2926758; Black, Yellowed silver/Black leather, Grey cloth; Black leatherette top; Estimate $150,000 – $200,000; Visually maintained, largely original, 4+ condition; Hammered Sold at $140,000 plus commission of 10.00%; Final Price $154,000. – Black wire wheels, blackwall tires, dual sidemounts, top hinged windshield, rollup division, pulldown rear window shades, speaking tube, jump seats, luggage trunk – Bodied from new with this coachwork transferred from the first owner’s 1927 Minerva. Four owners from new. Certified Category One by the ACD Club. Cracked, peeling old paint, yellowed safety glass, dull chrome. Sound and usable upholstery and decent interior wood. Looks like junk, but runs like a top. – An unusually well-balanced job mounting the d’Ieteren Freres body on the long, low L-29 chassis and carefully preserved by a succession of sympathetic owners make for a fascinating story and a Cord that will always deserve the description ‘unique’. Lot # 155 1948 Tucker 48 4-Dr. Sedan; S/N 1003; Metallic Bronze/Beige cloth; Estimate $1,500,000 – $1,900,000; Recent restoration, 1 condition; Not sold at Hammer bid of $1,475,00. – Wheel covers, wide whitewalls, pre-selector gearbox – Concours restored to showroom condition. Excellent paint, chrome, interior and interior plastic. Exceptionally well done. – Offered in tired original condition by Christie’s at Pebble Beach in 2002 with a high bid of $150,00, later reported sold at Kruse Auburn Fall in 2005 for $378,000. The world is fascinated by Tuckers, which are revolutionary automobiles for the time and resonate with the story of Preston Tucker’s hubris, but perhaps also his undeserved fall depicted in the 1988 movie. This is what a well restored, documented Tucker is worth today. It is a popular legend, but also an unsuccessful automobile venture that in the end changed nothing. Lot # 156 1931 Duesenberg Model J Tourster, Body by after Derham; S/N 2456; Engine # J-444; Black/Tan leather; Tan cloth top; Estimate $900,000 – $1,200,000; Older restoration, 3+ condition; Hammered Sold at $750,000 plus commission of 10.00%; Final Price $825,000. – Chrome wire wheels, wide whitewalls, dual sidemounts with chrome bands and mirrors, wind wings, black leather covered trunk, rollup rear windshield, polished hood side louvers – First owned by comedian Joe E. Brown, later de-bodied and used as a glider launcher by Hughes Aircraft during WWII. Rebodied in the mid-70’s, CCCA Senior National First Prize winner in 1989. An aging older restoration now in touring condition. Good paint, chrome and interior. Chassis has been repainted assembled and is unappealing but the automobile itself is exceptionally attractively bodied. – With a long history of ownership by some of the country’s best known and most knowledgeable collectors, this car carries a certain obligation for continued use and preservation by the new owner. The price, for a rebodied car even if it is rebodied in its original style, is ample, especially considering the aged presentation of its restoration. Lot # 160 1955 Mercedes-Benz 190SL Roadster; S/N 1210425500458; Graphite Grey/Red leather; Light Grey cloth top; Estimate $150,000 – $200,000; Concours restoration, 1 condition; Hammered Sold at $200,000 plus commission of 10.00%; Final Price $220,000. No Reserve – Becker Mexico AM-FM, whitewalls, hubcaps, trim rings, fitted luggage in the trunk and behind the seats – Fresh, thorough restoration with excellent cosmetics top and bottom, inside and out. Dash and instruments are beautifully done. 2004 Best of Show at the International 190SL Convention. – Done to very high standards and in concours condition, the ‘His’n’Hers’ luggage is a brilliant idea by the consignor that brought lots of attention during the preview and contributed to an exceptional price. It wasn’t all that long ago that a good, sound, usable Gullwing could be bought for this much money. About eight years ago, to be more precise.
RM Auctions Amelia Island 2013 – Auction Report Page Three
Lot # 161 1932 Chrysler CL Imperial Convertible Coupe, Body by LeBaron; S/N 7803368; Light Olive Green, Olive Green fenders and accent/Olive Green leather; Heather Green cloth top; Estimate $550,000 – $650,000; Concours restoration, 1 condition; Post-block sale at $477,273 plus commission of 10.00%; Final Price $525,000. – Chrome spoke wire wheels, dual enclosed sidemounts, rumble seat, trunk rack, wide whitewalls, golf bag door, opening vee windshield. – One of just 22 built in this extremely attractive LeBaron body style. Meticulously restored some years ago by Stone Barn and maintained in concours condition since. – Sold by RM at Meadow Brook in 2008 with only eight fewer miles on its odometer for $660,000. A beautiful car that has been restored and maintained in the condition which its quality deserves and bought here reasonably enough to put a few more than eight more miles on it in the next half-decade. Lot # 162 1967 Ferrari 330 GTC; S/N 10007; Engine # 1007; Burgundy/Tan cloth; Estimate $390,000 – $450,000; Cosmetic restoration, 3+ condition; Hammered Sold at $460,000 plus commission of 10.00%; Final Price $506,000. – Becker Europa II radio, chrome wire wheels, Dunlop blackwall tires – Good new paint (from plain old red) and interior, good chrome. Clean, tidy underbody. Flat body with even gaps but slightly dropped at the rear of the passenger’s door. Thin window trim chrome. A quality, well-maintained driver quality Ferrari. – The 330 GTC continues its seemingly relentless march into unaffordability with this sale, a majestic result for a driver quality car recently given a handsome repaint in a more fashionable color and new interior. It looked good enough in the catalog photos in red and black but the gamble to freshen its cosmetics seems to have paid off for the seller. It’s nothing if not expensive at this price. Lot # 163 1932 Marmon HCM V-12 2-Dr. Sedan Prototype; S/N DD609; Beige/Beige leather; Estimate $400,000 – $600,000; Concours restoration, 1- condition; Hammered Sold at $370,000 plus commission of 10.00%; Final Price $407,000. – Silver wheel discs, blackwall tires, clock – Concours restoration with only a little age to separate it from any concours in the world. CCCA Senior #2443. The original prototype Marmon V12, designed by Walter Dorwin Teague, Jr. Known history from new, only six owners, only two of whom paid for it, the rest acquiring it by way of gift or trade. Restored 2001, Pebble Beach class winner. Distinctive design presented in near-concours condition.. – Just thirteen more miles appear on this car’s odometer from when it was sold by RM at Meadow Brook in 2007 for $891,000, and just seven more than when RM sold it at Monterey in 2011 for $475,000. The car’s condition is holding up better than its price, but the appeal of its gunboat-style coachwork may be wearing off. Today’s result is a reasonable price. Lot # 164 1965 Ferrari 275 GTB Berlinetta; S/N 07751; Red/Black leather; Estimate $1,000,000 – $1,300,000; Cosmetic restoration, 3+ condition; Hammered Sold at $1,250,000 plus commission of 10.00%; Final Price $1,375,000. – Starburst centerlock alloy wheels, Michelin XWX tires – Never fully restored, with 50,859 original miles on its odometer. Good new paint, chrome and older interior. Underbody is covered in repainted old undercoat. Engine has been done and is neat and orderly. Straight body, flush fits and even gaps. An attractive and reassuringly maintained Ferrari. – The bidders appreciated the honesty of this short nose 275 GTB and conferred upon it a noteworthy value that was more than deserved by its exceptional condition and sharp appearance. Lot # 167 1928 Hispano-Suiza H6C Transformable Torpedo, Body by Hibbard & Darrin; S/N 12036; Engine # 320104; Cream, Light Yellow fenders and accents/Cream leather; Brown cloth top; Estimate $400,000 – $500,000; Concours restoration, 2+ condition; Hammered Sold at $450,000 plus commission of 10.00%; Final Price $495,000. – Chrome wire wheels, wide whitewalls, dual sidemounts with strap-on mirrors, Marchal headlights – Updated body with skirted pontoon fenders and extended tonneau with integrated trunk. Quality older concours restoration with a few touched up cracks at stress points. Underbody is nearly like the top and shows little use or age. No longer fresh but done to very high standards in an attractive livery. – The rear body modification does nothing to enhance the balance and proportion of the Hibbard & Darrin coachwork. There is no clue from the catalog about the date of the restoration, but the car itself has plenty of clues about its age, which is considerable. The colors help its first impression a lot. The new owner would do the car a favor by researching the original coachwork to see if it would enhance the look, or just drive it and enjoy its 8-liter engine’s performance. Lot # 170 1972 Ferrari 365 GTB/4 Daytona Coupe; S/N 15105; Red/Tan leather, Black stripes; Estimate $375,000 – $475,000; Original, with major mechanical repairs, 3- condition; Not sold at Hammer bid of $360,000. – Becker Mexico cassette, P/W, chrome spoke Borranis, A/C controls but no installation, 5-point belts – Painted nose, pop-up lights. Vintage raced by Arthur Urciuoli in the 90’s. Custom aluminum radiator and oil cooler without a shroud or fan, some Aeroquip style pressure hoses, ignition modules nowhere to be seen. Mediocre paint, erratic chrome trim and fit. Front fenderwells have been replaced but the rears are original. Fresh upholstery and dash covering. It looks like a nose job was done on this Daytona, and with little attention to originality. – This was a strange car, with its strange configuration plainly visible to anyone who looked under the hood yet no explanation was offered in the catalog. No wonder no one wanted it at the generous auction company estimate. If it had brought the reported high bid it would have been a huge win for the seller. Lot # 171 1963 Porsche 356B 1600 Super 90 Cabriolet, Body by Reutter; S/N 158625; Ivory/Green leatherette, Dark Olive cloth; Black cloth top; Estimate $110,000 – $150,000; Recent restoration, 2 condition; Hammered Sold at $130,000 plus commission of 10.00%; Final Price $143,000. – Sapphire AM-FM, chrome wheels, clock, blackwall radial tires, luggage rack – Three owners from new, odometer rolled over once and now shows (1)10,057 miles. Restored to showroom condition with excellent paint, chrome, interior and bodywork fits and finish in the original colors and materials. Shows no age or use at all. – Incredibly fun to own and drive, with the luxury of a tight folding top, rollup windows and 90hp to play with, this is an impressive but deserved result for an impeccably restored Super 90. Lot # 175 1966 Shelby Mustang GT350 Fastback; S/N SFM6S316; White, Blue stripes/Black leatherette; Estimate $120,000 – $160,000; Competition restoration, 3+ condition; Hammered Sold at $140,000 plus commission of 10.00%; Final Price $154,000. – 5-spoke alloy wheels, Goodyear Blue Streak tires, braced roll bar, bucket seats, 4-point competition belts, R-nose with oil cooler, fiberglass bumpers, quick fill gas cap, trunk-mounted battery, Plexiglas side and rear windows – Tidy race prepared car with fresh paint, not originally an R model, but now fully up to GT350R specs and neatly prepared. – Offered by Auctions America in Ft. Lauderdale last year where it attracted a top bid of only $90,000. The consignor found a more receptive audience here at Amelia Island and took home a full retail price for a modified GT350.
RM Auctions Amelia Island 2013 – Auction Report Page Four
Lot # 176 1954 Pegaso Z-102 Series II Cabriolet, Body by Saoutchik; S/N 1021530136; Silver-Blue/Dark Blue leather; Blue cloth top; Estimate $1,250,000 – $1,750,000; Visually maintained, largely original, 3- condition; Not sold at Hammer bid of $700,000. – Chrome wire wheels, wide whitewalls, Becker radio, chrome nerf bar bumpers – One of the most unusual and highly desirable postwar limited production cars, designed by Wilfredo Ricart and built in Spain with a 2.8 liter 4-cam V-8. This unique Saoutchik cabriolet has a quick cosmetic redo with mediocre paint, sound chrome and usable upholstery. Underbody is old, and has body color overspray in the fenderwells. The coachwork is more extreme than attractive. – Saoutchik built some beautiful automobile bodies. This is not one of them. It looks like something cobbled up in a suburban LA ranch house garage using a Fiberfab kit and incorporating kitschy kustom features of the period, particularly the awkward white-accented headlight housings, nerf bar bumpers, frameless windshield and little fins that bear no relationship at all to the ’40 Ford profile rear deck. It’s a profile that is best photographed from ground level to minimize its tall window sills. It is undeniably rare, mostly because no one ever wanted another like it, not even the first owner who had it converted into a coupe. It is going to be very difficult to reach a compromise between the owner’s expectations and collectors’ reception for its appearance, even with the choice Pegaso Z-102 chassis and driveline under it. Seven Hundred Large is more than enough. Lot # 177 1936 Packard 1407 Twelve Coupe Roadster; S/N 904479; Engine # 904479; Red/Tan leather; Tan cloth top; Estimate $250,000 – $300,000; Concours restoration, 1- condition; Hammered Sold at $310,000 plus commission of 10.00%; Final Price $341,000. – Dual enclosed sidemounts with mirrors, chrome wire wheels, wide whitewalls, dual remote spotlights, Trippe lights, trunk rack, rumble seat, golf bag doors – Concours restoration, AACA 1993 National First Prize, CCCA National First Prize # 1788. Excellent paint, chrome, interior and top. Underbody is as good as the topside. Top is a little soiled but that is the only knock. – A very pretty automobile with a superlative drivetrain and legendary Packard quality with a concours quality restoration that is ageing well, with little evidence of use or neglect. There’s little not to like about this Packard except the top that is soiled from being folded but not adequately covered. Some soap and water would fix it, a fact the bidders here recognized with their over-estimate price. Lot # 178 1967 Lancia Flaminia Super Sport Coupe, Body by Zagato; S/N 826232002121; Newmarket Grey/Red leather; Estimate $220,000 – $280,000; Visually maintained, largely original, 3- condition; Hammered Sold at $175,000 plus commission of 10.00%; Final Price $192,500. – Blackwall tires, floor shift, woodrim steering wheel – One of just 187 built, at the height of both Lancia’s and Zagato’s creativity. Cosmetically restored in 2009 with decent paint and chrome, better upholstery. Underbody, chassis and the bottom of the engine compartment are untouched and grungy. – This Lancia Zagato’s cosmetic restoration is less than the car deserved. The price is more than the presentation warranted, but understandable for the exclusivity and performance of Lancia’s masterpiece and Zagato’s lightweight, efficient coachwork. Lot # 179 1937 Cord 812 Phaeton; S/N 8121933H; Burgundy/Beige leather; Beige cloth top; Estimate $175,000 – $200,000; Older restoration, 2- condition; Hammered Sold at $200,000 plus commission of 10.00%; Final Price $220,000. – Remote spotlight-mirror, wide whitewalls, radio, heater, outside exhaust headpipes – Good older restoration with good paint, interior, major chrome and top. Side window trim chrome is weak and underbody and chassis have been toured. An attractive and sound Cord, but nothing special. – Generously priced for the condition of its older restoration and the Phaeton body style, the new owner will have to put miles on it at this price to get full value for money. Lot # 181 1968 Ferrari 365 GT 2+2; S/N 13795; Ice Blue/Black leather; Estimate $125,000 – $150,000; Visually maintained, largely original, 3- condition; Hammered Sold at $105,000 plus commission of 10.00%; Final Price $115,500. No Reserve – Cassette stereo, P/W, A/C, alloy wheels, Michelin MXV4 tires – Mostly original car with a failing, cracked old repaint. Rust blisters at windshield corners, scratched trim chrome, good bumpers. Good new interior. Underbody is original, old and dirty. – This is what Queen Mothers used to look like when they were $40,000 Ferraris. Undeniably handsome (if large) and eminently practical, there’s even room (if not built in restraints) in the back for rear-facing car seats for kids. This is an honest example with readily visible needs at a reasonable price in today’s strong market for Ferrari’s late 60’s GTs when this 2+2 is less than a quarter of a 330 or 365 GTC. Lot # 184 1954 Packard Caribbean Convertible; S/N 54782145; Sahara Sand, Gulf Green/Pale Green, Green leather; Beige cloth top; Estimate $90,000 – $110,000; Recent restoration, 2+ condition; Hammered Sold at $95,000 plus commission of 10.00%; Final Price $104,500. No Reserve – Automatic, enclosed rear spare, chrome wire wheels, wide whitewalls, WonderBar radio, grille mounted fog lights, P/W, power seat – Restored to better than showroom condition by Hibernia with excellent paint, chrome, interior and top. An unusually good, attractive and sympathetically restored Caribbean in particularly attractive colors. – Offered at Mecum’s Indianapolis auction in 2011 with a high bid of $85,000, the year-and-a-half wait brought only another $10,000 on the hammer. Largely overlooked today, it’s unfortunate that these great limited production Packards bring little or no more than a similarly restored Power Pack ’57 Chevy Bel Air. Lot # 190 1967 Fiat Dino Spider; S/N 0000488; Red/Beige vinyl; Beige cloth top; Estimate $60,000 – $90,000; Cosmetic restoration, 3+ condition; Hammered Sold at $90,000 plus commission of 10.00%; Final Price $99,000. No Reserve – FIAT multiband radio, 6-spoke alloy wheels, Prototipo leather rim steering wheel – 2-liter. Mediocre old repaint, good upholstery and chrome. Aged underhood. Underbody covered in old undercoat. – Much less well known or seen than the Ferrari-built mid-engined Dinos, this result is strong evidence that the FIAT Dino is being pulled along by the ballooning prices of Maranello Dinos. Why that is the case is less clear, since the Ferrari-built Dino is most renowned for its mid-engined handling, an attribute the front-engined FIAT Dinos don’t share. Cosmetically and erratically restored, it would not have been a good value at RM’s low estimate. At this price it is irrationally exuberant.
[Source: Rick Carey]
Rick Carey is a joy to read. His information gives us an idea of what to expect to pay at an auction for a specific car in a specific condition and his reviews are right on. It is a pleasure reading his analysis and his humor is directed at the right place, owners who don’t take care of fine autos, many of which are works of art.
I agree, the pics are great but Rick’s expert commentary and experienced eye make for an enjoyable read – almost like being there, without the $1500 for admission to the “high roller enclave”. Thanks Rick !
James&Mark
Thanks for the kind words.
I try to paint a word picture in the notes and comments, which I hope comes through and enriches the account of the sale and the cars. Fortunately, I enjoy the exercise, and am gratified you think it’s working.
Rick