RM Auctions ‘Motor City’, Inn at St. John’s, July 26, 2014
Another little change this year as RM separated itself from the Inn at St. John’s location by re-naming Meadow Brook/St. John’s less specifically as ‘Motor City’.
It’s probably insignificant in the overall scheme of things. Sunday’s Concours d’Elegance of America was bigger and better than ever. Cars are how the Detroit area defines itself and RM’s ‘Motor City’ sale and the associated concours make the point.
The sale featured a number of cars from the seemingly endless collection of Richard and Linda Kughn; once the collecting bug bites it’s hard to cure it. Overall the condition quality of the ‘Motor City’ cars was mediocre, but some of them were seriously exceptional.
Action in the auction room was frequently slow. Max Girardo and Alain Squindo worked hard to coax money out of the on-site bidder, nor was it enthusiastic even when it was found.
Some of that might be attributed to the cars’ eras: 39 (half) of the 78 cars that crossed the block were pre-WWII. Interestingly, though, for those who disparage the market for older cars, only seven of the 39 failed to sell, an 82.1% sell-through that dragged up the 71.8 % sell-through of post-WWII cars to the final 76.9% sell-through of RM’s ‘Motor City’ auction.
Hard-won experience by collectors of pre-WWII cars tempers their exuberance but provides a steady market for sound cars at sound prices. That was what ‘Motor City’ exhibited.
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Emphasizing this event’s connection with the Motor City, the days leading up to the auction and concours featured tours of collections in the area like Jack Roush’s.
Among the judges in Sunday’s Concours d’Elegance of America it was widely expressed that the classes were difficult, comprised of cars that balanced superb presentation with exceptional history and great stories of their ownership, preservation and restoration.
The Detroit area really is the ‘Motor City’ and RM’s auction and the aptly-named Concours d’Elegance of America highlights the connection.
RM Auctions Motor City 2014 – Auction Report
Lot # 105 1976 Toyota FJ40 Land Cruiser Utility; S/N FJ40212619; Engine # 056450; Mustard Yellow, White roof/Grey vinyl, cloth; Estimate $60,000 – $80,000; Recent restoration, 2+ condition; Hammered Sold at $62,500 plus commission of 10.00%; Final Price $68,750 – Grey steel 15 inch steel wheels, All-Terrain T/A tires, Motorola AM radio, center facing rear seats, rear-mounted spare. – Amazing, fresh, meticulous restoration to better than new condition on a 67,526 mile Arizona/New Mexico vehicle. Powder coated frame and other thoughtful details like that. Other than the 40-year old seatbelts with their original Toyota labels this is a brand new vehicle with ‘new car smell’ inside. – No auction today is complete without an FJ40 or two. Sometimes they are superficially redone to decidedly mediocre standards, other times they’re beyond-perfect jewelry. Similarly, values range from mediocre to incredulous. While $68,750 is a lot to pay for a Japanese Jeep, in the current FJ40 euphoria this result is an appropriate compromise between this FJ40’s exceptional quality and the amount paid for it. Rarely will a better example be found even at a lot more money.Lot # 108 1958 Austin-Healey 100/6 BN6 Roadster; S/N BN6L/3723; Engine # 26DUH/69055; OE White/Red leather, White piping,; Black vinyl top; Estimate $65,000 – $85,000; Recent restoration, 2 condition; Not sold at Hammer bid of $57,500 – Chrome wire wheels, blackwall tires, heater, overdrive, tool kit, jack. – A two and one-half year old Kurt Tanner restoration with some age and use but still in fresh, crisp condition. – This is a better Healey than the Motor City bidders gave it credit for, but not by much and not up to the market appeal of more favored Healeys like the BJ8s.Lot # 111 1973 Jaguar XKE SIII V-12 Roadster; S/N UD1S21377; Engine # 7S8630LB; BRGreen/Biscuit leather; Beige cloth top; Estimate $65,000 – $85,000; Visually maintained, largely original, 2- condition; Hammered Sold at $65,000 plus commission of 10.00%; Final Price $71,500 – 4-speed, chrome wire wheels, blackwall radial tires, British Leyland AM-FM radio. – Good older repaint, chrome and interior. Upholstery is lightly creased from limited use, remainder of the interior is original and appropriate to the 28,513 miles covered from new by two owners. Documented with the original window sticker, warranty, registrations, manual, jack, hammer. – An exceptionally good and highly original Series III E-type that appears to have had a good life from new and been carefully and consistently looked after. It was reported sold earlier this year at Auctions America’s Ft. Lauderdale auction in March for $77,000, then offered at Spring Auburn with a bid of $63,000. Bought reasonably here, but without much left.Lot # 112 1955 Packard Caribbean Convertible; S/N 55881220; White Jade, Turquoise, Grey Pearl/White, Blue leather; White vinyl top; Estimate $75,000 – $100,000; Cosmetic restoration, 3+ condition; Hammered Sold at $60,000 plus commission of 10.00%; Final Price $66,000 – 352/275hp, dual quads, automatic, P/S, P/B, chrome wire wheels, whitewalls, skirts, WonderBar radio, P/W, dual outside mirrors, dual rear antennas. – Cosmetically restored with good paint but visibly filled around both headlights. Scratched brightwork with dents along the doors and quarter panels. The engine is clean up top but is leaking fluids underneath while the underbody has road grime and chipped undercoat. The major interior components have been refinished but the dash trim remains untouched and tarnished. This car is best used as a driver in its current condition and is not particularly reassuring. Richard & Linda Kughn collection. – Sold by RM at Amelia in 2007 for $88,000 and not getting any better as the shortcuts in its restoration begin to assert themselves. The St. John’s bidders suitably discounted the price to compensate for the condition.Lot # 117 1934 Chrysler CU Airflow Eight 4-Dr. Sedan; S/N 6597265; Engine # C173113; Willow Green/Brown leather, Beige both; Estimate $75,000 – $95,000; Recent restoration, 2+ condition; Not sold at Hammer bid of $67,500 – Hubcaps, wide whitewalls, skirts, crank-out vee windshield panes, radio, heater. – Excellent paint, chrome and interior. Freshly restored to showroom condition. Grille chrome is a little thin but very smooth. A highly impressive car. – Radically different from anything else on the U.S. market in 1934, cautious buyers were unwilling to take a chance on the Airflow. Chrysler placed a big bet on them, and survived it only because older models were continued. They are exceedingly rare and important automobiles with a place in any collection that highlights engineering milestones. This one was sold at Auctions America’s Ft. Lauderdale auction in 2012 for $77,500, no doubt contributing to the consignor’s reluctance to accept the reported bid, a decision that is fully understandable for this wonderfully restored and historically significant Chrysler.Lot # 120 1957 Chevrolet Bel Air Nomad 2-Dr. Station Wagon; S/N VC57K117617; Engine # 1308FC; Tropical Turquoise, India Ivory roof/Blue vinyl, Black cloth; Estimate $70,000 – $90,000; Recent restoration, 3+ condition; Not sold at Hammer bid of $52,500 – 283/229hp, Powerglide, P/S, P/B, WonderBar radio, dual outside mirrors, spinner wheel covers, whitewalls. – Very good paint, major chrome and interior. Engine compartment and chassis are nearly like new except for scraped paint on the generator. Pitted window trim chrome, cracked, hard window seals. A disappointing car that seems hurriedly assembled. – This Nomad presented a quandary. The hard work was done well, but the many shortcuts in final assembly create serious questions about the quality of other things. It’s probably a good car, but the doubts raised by its oversights make the bid here appropriate to its presentation. The consignor would do the car (and his bank balance) a favor by attending to the visible details before trying to sell it again.Lot # 128 1925 Renault Model 45 Tourer; S/N 139416; Engine # C914NF254; Ivory, Gold accent/Tan leather; Beige cloth top; Estimate $200,000 – $300,000; Older restoration, 3+ condition; Hammered Sold at $240,000 plus commission of 10.00%; Final Price $264,000 – RHD. Varnished wood spoke wheels with steel rims, dual sidemounts with mirrors, wind wings, 6.00×23 tires, Phares Besnard electric headlights, nickel brightwork, Marchal taillamps, Jaeger eight day clock. – A comprehensive 1980’s restoration that still looks very fresh. Immaculate tan interior with ornately stitched door panels. Very good paint, nickel and wood tonneau trim. – A magnificent old Nethercutt Collection restoration still in fine condition for touring and proud display at the end of a day’s run, this Renault was sold from the Nethercutt Collection at Gooding’s Pebble Beach auction in 2010 for $374,000 – and it didn’t run. It does now and is a huge value at this price.Lot # 129 1906 Studebaker Model G Touring; S/N 841; Burgundy, Black accent/Burgundy leather; Black cloth top; Estimate $325,000 – $450,000; Concours restoration, 1 condition; Hammered Sold at $250,000 plus commission of 10.00%; Final Price $275,000 – RHD. Solar acetylene headlights and kerosene sidelights, Red wood spoke wheels, dual right side spares, sexy snail shell bulb horn. – Excellent paint, brass, interior and top. Show quality restored in 2005 and still gorgeous aside from a little dust and dull brass in difficult places. Ex-Henry Austin Clark, Jr., Bill Harrah and Bob Valpey. Harrah’s documentation, known history since 1909. – Purchased by Harrah’s in 1968 for $6,750. A magnificent, stately automobile capable of performance that makes it ideal for brass era tours with the whole family. Well worth the money it brought here and sounds impressive, but if you do the annual rate of return the result is about 8.15% without taking carrying costs into account.
RM Auctions Motor City 2014 – Auction Report Page Two
Lot # 130 1964 Mercury Park Lane Convertible; S/N 4Z65Z513651; Silver-Grey/White vinyl; White vinyl top; Estimate $45,000 – $55,000; Modified restoration, 2+ condition; Hammered Sold at $47,500 plus commission of 10.00%; Final Price $52,250. No Reserve – 390/300hp with dual quad intake, automatic, P/S, P/B, aftermarket A/C, chrome wire wheels, narrow whitewall radials, dual remote spotlight mirrors, P/W, buckets and console. – Great paint, chrome and interior. Vast expanses of smooth, flat bodywork. Chrome side trim is straight as a die. Better than new both in appearance and performance. – Some might quibble with the upgrades (or with the ‘Marauder’ emblems for that matter) but on the street no one will quibble with the comfort, performance and upgraded handling of this Mercury. The bodywork (by G&L Collision in Victoria, BC to give them credit for their skill) is magnificent. The new owner got a car to be proud to own, drive and display for an appropriate price.Lot # 131 1946 Cadillac Series 62 Convertible; S/N 8408786; Engine # 8408786; Maroon/Dark Red leather; Beige cloth top; Estimate $75,000 – $90,000; Recent restoration, 2+ condition; Hammered Sold at $60,000 plus commission of 10.00%; Final Price $66,000 – Automatic, large hubcaps, wide whitewalls, dual outside mirrors, skirts, pushbutton radio, P/W, power seat, fog lights. – Excellent paint, interior and major chrome but some shadowed trim chrome. Excellent underbody showing only a little use. Sharp, crisp gauges, dash and steering wheel. Restored to high standards, sharp and better than new. CCCA Senior # 2845, and looks like it. – Sold here (OK, at Meadow Brook) in 2010 for $74,800, a superior automobile with a superior restoration completed in 2007 and still show quality seven years later, bought here for a modest price.Lot # 133 1955 Jaguar XK 140MC Drophead Coupe; S/N S818857; Engine # G8781-8S; Red/Tan leather; Beige cloth top; Estimate $100,000 – $125,000; Older restoration, 2- condition; Hammered Sold at $95,000 plus commission of 10.00%; Final Price $104,500 – Cylinder head number LA2754-8. Overdrive, chrome wire wheels, Avon blackwall radials, Mallory ignition, Lucas driving lights, badge bar, aftermarket 4-spoke woodrim steering wheel, aluminum radiator, polished cam covers and carb dashpots, hidden modern stereo. – Very good paint, chrome and interior. Very attractive burl interior wood trim. Upholstery is very good and only lightly used. Engine and underbody are likewise lightly used. A very good older restoration with some miles. – Cylinder head doesn’t match the MC block number but aside from that it’s a well done and attractive car that has been only lightly used since restoration. This is an appropriate price for it.Lot # 134 1960 Chrysler 300F Convertible; S/N 8403143155; Alaskan White/Beige leather; Black vinyl top; Estimate $150,000 – $200,000; Cosmetic restoration, 3 condition; Hammered Sold at $130,000 plus commission of 10.00%; Final Price $143,000. No Reserve – Wheel covers, whitewalls, P/W, remote mirror, swivel bucket seats, P/S, P/B, A/C. – Replacement engine. Sound paint, chrome and interior showing age, wear and use. Old undercoat in fenderwells. Repainted over old paint. A sound but used older cosmetic restoration with a more recent repaint. – Sold at Barrett-Jackson Scottsdale in 2006 for $167,750 in better condition than it is today. This is about as good as a cosmetic restoration gets and the underhood display with the long tube cross ram intake is impressive enough by itself to warrant the price it brought.Lot # 137 1958 Oldsmobile Dynamic Eighty-Eight Convertible; S/N 587M16406; Banff Blue/Light Blue, White vinyl; White vinyl top; Estimate $75,000 – $100,000; Older restoration, 2- condition; Hammered Sold at $60,000 plus commission of 10.00%; Final Price $66,000 – Painted spinner wheel covers, whitewalls, skirts, Trans-Portable radio, P/S, P/B, Super 88 trim added. – Very good paint, chrome, interior and glass. Engine compartment is like new except for a new battery with a bungee cord hold down. Underbody is restored like new. Hood doesn’t close flush. Impressive. Richard and Linda Kughn collection. – Sold at Hershey in 2005 for $88,000, then at RM’s Hershey auction in 2008 for $75,900. While it needs a little attention to correct some expedient maintenance the work is minimal. The only concern might be the apparent long term storage (the odometer shows just 62 more miles today than it did in 2005) and consequent attention needed to put it back into reliable driving condition.Lot # 138 1940 Packard Custom Super Eight One Eighty Convertible Sedan, Body by Darrin; S/N 18072009; Engine # C507382F; Packard Maroon/Beige leather; Beige cloth top; Estimate $225,000 – $300,000; Older restoration, 2- condition; Hammered Sold at $215,000 plus commission of 10.00%; Final Price $236,500 – Overdrive, hubcaps, trim rings, wide whitewalls, Packard Safety Light fog lights, grille guard. – CCCA Premier # 1898. Ex-Otis Chandler. Quality older paint, chrome, upholstery and top showing age and use. Paint cracks here and there, poor dashboard wood garnish finish..Engine is clean and orderly with some brush touchup from service work. An extraordinary car now showing the age of its restoration. Richard & Linda Kughn Collection. – Sold by RM at Meadow Brook in 2002 for $181,500, then in Arizona in 2004 for $188,100. The car may not be getting any better with age, but the price is.Lot # 153 1969 Mercedes-Benz 280SL Roadster; S/N 11304410003965; Silver-Grey, Silver-Grey hardtop/Red leather; Estimate $75,000 – $95,000; Visually maintained, largely original, 3 condition; Hammered Sold at $57,500 plus commission of 10.00%; Final Price $63,250. No Reserve – 4-speed, two tops, Becker Europa AM-FM, white steering wheel, wheel covers, Michelin radial blackwall tires, hardtop. – Sound older repaint, good replaced seat upholstery but faded original door panels. Underbody coated with original undercoat, some of it peeling. Engine is orderly but a little dirty and has been recommissioned with tacky (‘NAPA tuneup’ one observer noted) aftermarket parts. Good dashtop wood. Dash and instruments are clean and crisp. – Attractively presented and particularly desirable with the 4-speed, the Motor City bidders intelligently valued this 280SL for what it is and paid a realistic price for it.
RM Auctions Motor City 2014 – Auction Report Page Three
Lot # 158 1911 Mercedes 38/70hp 7-Passenger Touring; S/N 13496; Engine # 95319; Dark Green, Black fenders/Dark Green leather; Tan cloth top; Estimate $450,000 – $600,000; Older restoration, 2 condition; Hammered Sold at $450,000 plus commission of 10.00%; Final Price $495,000 – RHD. Ducellier acetylene headlights and kerosene sidelights and taillight. 37″ rear and 36″ front tires on varnished wood spoke wheels. Double chain drive, dual rear spares, one in each size, wood body cappings, matching tool box on left running board, whitewalls, folding windshield, Black patent leather mud shields, jump seats, ivory porcelainized cylinder blocks, Elliott speedometer. Engine plate #13496. Stamped B.No. 953 M. No. 19 on upper and lower crankcase. – 1992 AACA Senior. Purchased by Colonel Samuel P. Colt, the gunmaker’s more successful nephew (President of the Industrial Trust Company in Providence and U.S. Rubber Company among other things). Bought for European tours in 1911 and 1914, used by French Army in WWI. Stayed in his family until 1937, later acquired by B. Scott Isquick from Webster Knight III’s estate in 1970 and restored in 1994. Winner of the 1994 Pebble Beach Ansel Adams Trophy along with many other awards. Complete and as built for Col. Colt, impressively documented. In very good condition but slowing age and little attention. Ex-B. Scott Isquick and Otis Chandler. – A wonderful old Mercedes with an illustrious history not only with its first owner but later with important collectors. Beautifully restored in the early 90’s and still much the same today while beginning to acquire a patina that it wears well. Sold at Gooding’s Chandler collection auction for $632,500 in 2006, then by RM at Monterey in 2010 for $495,000. This is nearly 10 liters of legendary Mercedes power and quality for a realistic price.Lot # 161 1960 Mercedes-Benz 190SL Roadster; S/N 12104010016225; Engine # 12192110016358; Maroon (DB 516)/Ivory leather; Beige cloth top; Estimate $175,000 – $225,000; Recent restoration, 2+ condition; Hammered Sold at $175,000 plus commission of 10.00%; Final Price $192,500 – Hubcaps, trim rings, whitewalls, Blaupunkt multiband radio, Solex carbs, tools, books, jack. – Excellent fresh paint, chrome and upgraded leather interior. Highly detailed engine compartment. Flawless. – The prices 190SLs bring are amazing, as well as the quality of the restoration they get. This one is as good as it gets and its price reflects the regard the 105hp cars are held in these days.Lot # 162 1929 Rolls-Royce Phantom II Torpedo Tourer, Body by Barker; S/N 50XJ; Engine # 5025X; Dark Blue/Dark Blue leather; Beige cloth top; Estimate $650,000 – $850,000; Older restoration, 3 condition; Not sold at Hammer bid of $625,000 – RHD. P/S, polished wheel discs, blackwall tires, spotlight, odd trumpet bulb horn on driver’s running board, clock and storage cabinets in rear compartment, Lucas bullseye headlights, Lucas fog lamp, dual sidemounts, wind wings, blue class windshield visors, vee windshield. – Sound older paint, interior, top and mixed chrome and nickel brightwork. Dull radiator nickel: Chassis is oily and grimy from use. Good interior woodwork. Great body lines and a wonderful, sporting tour car. An Indian Rolls-Royce ordered by the Ruling Chief of Nandgaon State. Long wheelbase chassis, original body. – Sold by Gooding at Pebble Beach in 2010 for $770,000. The offer here at RM’s Motor City sale is realistic and reflects the somewhat aged and used condition in which it was presented. The seller would find it productive to contract for a thorough update, cleaning and general polishing to put the pop back on this outstanding and attractively bodied Phantom II.Lot # 166 1950 Hudson Commodore Eight Convertible Brougham; S/N 50482033; Cream/Maroon leather; Beige cloth top; Estimate $80,000 – $100,000; Recent restoration, 2+ condition; Hammered Sold at $75,000 plus commission of 10.00%; Final Price $82,500 – Grille guard, 3-speed, pushbutton radio, power top, large hubcaps, trim rings, whitewalls, skirts, P/W. – Freshly done with excellent cosmetics and like new underhood except for a little oily residue on the bottom of the engine. Impressive chrome. A sound, attractive and well equipped Hudson, even if it does have the less desirable 8-cylinder engine. – Sold by Auctions America at Ft. Lauderdale in 2012 for $83,600 with just 397 more miles showing on its odometer today than it had then. It no-saled at Auburn Fall last year and brought a reasonable price here at St. John’s.Lot # 167 1930 Willys-Knight Great Six Model 66B ‘Plaidside’ Roadster; S/N 003900329; Engine # 51185; Ivory, Maroon accent and plaid sides/Maroon leather; Ivory cloth top; Estimate $100,000 – $150,000; Older restoration, 3- condition; Not sold at Hammer bid of $85,000 – Sleeve valve 255 cubic inch 87hp six-cylinder. Body color wire wheels, blackwall tires, dual sidemounts with cloth covers and mirrors, wind wings, rumble seat, luggage trunk, Trippe lights, Operation and Care Manual – Fresh paint over an old restoration. Grimy chassis. Rusty nails holding the top to the frame but the material is claimed to be, and probably is, original. Sound major chrome, pitted side mirrors. Dull instrument panel. Probably just four owners since new. A neat and unusual car but in decidedly mediocre condition. – The desirability and rarity of this Plaidside Roadster (one of only 13 known survivors) cannot offset its unattractive condition which, having been restored, is no longer ‘preservation’ eligible. It has potential to be much better, but only after an expensive restoration. The bid here accurately reflects potential, condition and realistic cost projections to make it into a $200K car.Lot # 177 1967 Mercedes-Benz 230SL Roadster; S/N 11304212019190; Ivory/Tan vinyl; Estimate $55,000 – $70,000; Visually maintained, largely original, 3 condition; Hammered Sold at $47,500 plus commission of 10.00%; Final Price $52,250 – Blaupunkt multiband radio, automatic, P/S, P/B, hardtop, narrow whitewalls, hubcaps, trim rings. – Mediocre old repaint, decent chrome. Stiff old upholstery cracking steering wheel. Underhood and underbody are original but surprisingly clean for their age. Good (probably replaced) dashtop wood. Sound body. An honest but unimpressive mostly original SL. – Allegedly this 230SL was ‘restored’ a year ago, a claim that is hard to credit given its sloppy appearance. The seller should be very pleased to get this much for a highly disappointing SL.Lot # 178 1933 MG J2 Roadster; S/N J2972; Engine # 934AJ; Green/Green leather; Estimate $48,000 – $58,000; Recent restoration, 2 condition; Hammered Sold at $50,000 plus commission of 10.00%; Final Price $55,000 – RHD. Body color wire wheels, blackwall 4.00×19 Blockley tires, folding windshield, Brooklands aeroscreens, single rear spare, headlight stoneguards. – Bought in the UK as a restoration project in 1957. Never started. Finally started restoration for a new owner in 2005 with a new body, finished in 2013. Balanced Phoenix crankshaft. Restored like new with very god paint, chrome and interior. – A really choice little J2 Midget, freshly and thoroughly restored to high standards. The price is no more than a TC in comparable condition would bring but a much more rare MG that is a sound and attractive value at this price.Lot # 180 1941 Cadillac Series 62 Convertible Coupe; S/N; Engine # 8345201; Black/Red leather; Black cloth top; Estimate $75,000 – $100,000; Older restoration, 2- condition; Hammered Sold at $70,000 plus commission of 10.00%; Final Price $77,000 – Automatic, pushbutton radio, red steel wheels, large hubcaps, wide whitewalls, skirts, grille guard, heater. – Restored some time ago but still with very good paint, chrome and interior. Upholstery is lightly creased and the top is soiled over the bows but should clean up with moderate attention. Underbody is dirty from some road use. Body is sound and straight. An excellent tour car and a CCCA Full Classic ™. – The quality of the older restoration is apparent in how well it has survived, a strong endorsement for the bidders’ decision to pay a good, but not excessive, price for it. It deserves the price it brought.
REgarding Lot #122 Packard Caribbean… Skirts were not an option. In fact everything mentioned was standard on this car, except for the wheels which are repops. All 1955 Caribbeans had skirts since it was actually an integral part of the body design. However, the wire wheels were optional–only in this case they are reproductions. Finally… and perhaps most importantly, the color scheme on this car is not at all original and while the car indeed was special-ordered new with a custom color scheme, what you see now isn’t it! So this is customized on top of custom-ordered. Thus confusing things even further. And the top does not have the proper color inside. But… frankly, this car looks far better than it did the last time I saw it several years ago!
REgarding Lot #117 Chrysler Airflow…Perhaps someday, somehow, somebody will explain why the folks who run things gush over ultra-streamlined designed in European cars… but go ho-hum at the very same thing in American cars. The Chrysler Airflow after all these years still isn’t getting its due.
Coulkdn’t agree with you more Leon. The Airflow was a trail blazer that has been long forgotten by a myopic automotive press.