Worldwide Auctioneers, National Auto and Truck Museum, Auburn, Indiana, August 31, 2013
Report and photos by Rick Carey, Auction Editor
In an annual auction schedule that includes ever more events few locations, if any, have the ambiance and history of Worldwide’s Auburn Auction.
Held in the Front Drive L-29 assembly building behind ACD headquarters in Auburn, Indiana, in the home of the National Auto and Truck Museum, it’s hard to beat the historical presence that permeates this structure. It may not be the best for holding the auction – it’s cramped, a bit dark and on a hot day, muggy all the portable A/C in the state of Indiana couldn’t keep it cool – but it’s the home of the L-29. Al Leamy, E.L. Cord and Cornelius Van Ranst walked these floors.
It’s at the center of the Auburn-Cord-Duesenberg Festival, sometimes an access challenge, but mostly adding to the week’s glamour and enthusiasm.
This is Worldwide’s second auction in this location. It was substantially reduced (36.3%) in the number of cars offered from the first year’s 2-day sale but the quality improved with the result that the total sale was down just 24%. That number is even more noteworthy than it appears since the sale started with a fifteen-lot No Reserve segment of farm tractors, implements and wagons of which only one sold for more than $10,000. Most were in mid-four figures.
[Full disclosure: I do the introductions on the block for this sale.]
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Lot # 17 1918 Pierce-Arrow Model 48 3-Passenger Coupe; S/N 515435; Gold leaf, Nickel/Black leather; Estimate $200,000 – $250,000; Older restoration, 3+ condition; Hammered Sold at $130,000 plus commission of 10.00%; Final Price $143,000. – RHD. 23-karat gold leaf covered body, nickel-plated fenders, gold leafed wood spoke wheels, silver plated interior fittings, quarter window curtains – Known history from new, restored between 1945 and 1973 and showing age and patina but little use. Freshly detailed. Amazing. – Maybe even beyond amazing. Sold by RM in London in 2010 for $141,407, its sale here for essentially the same price endorses its value. Lot # 19 1988 Mercedes-Benz 560SL Roadster; S/N WDBBA48D8JA079853; Black/Black leather; Black top; Estimate $25,000 – $35,000; Unrestored original, 3+ condition; Hammered Sold at $15,000 plus commission of 10.00%; Final Price $16,500. No Reserve – Automatic, Becker Grand Prix cassette stereo, two tops, alloy wheels, Michelin blackwalls – One family owned from new, said to be original throughout. The paint is very good, as is the chrome and interior. 46,652 miles and exceptionally good, although the original paint claim is suspect. – Offered at the Leake Tulsa auction earlier this year at a high bid of $17,500. There’s a process some sellers go through where they test the market and adjust their expectations. Frequently it’s just better to take the first, fresh, money on the table and walk away without more transport costs and entry fees. That seems to be the case here. Lot # 20 1957 MG A Roadster; S/N HDT4333405; Alamo Beige/Black leather; Black cloth top; Estimate $28,000 – $38,000; Enthusiast restoration, 3+ condition; Hammered Sold at $18,500 plus commission of 10.00%; Final Price $20,350. No Reserve – Silver steel wheels, hubcaps, trim rings, blackwall Kumho tires, grille guard, sliding panel side curtains, wind wings, Lowrider CD stereo, wood dashboard – Sound paint, interior and chrome. Amateur poorly fit top. Superficially redone underbody. A mediocre but usable car. – A driver quality MG A in an unusual color. The L-29 Building bidders were not impressed and paid what the car is worth. Lot # 28 1972 Jaguar XKE SIII V12 Roadster; S/N UC1S20905BW; Ivory, Black hardtop/Dark Blue leather; Black leatherette top; Estimate $65,000 – $75,000; Visually maintained, largely original, 3 condition; Hammered Sold at $56,000 plus commission of 10.00%; Final Price $61,600. No Reserve – Automatic, AM-FM, chrome wire wheels, narrow whitewalls, two tops – 6,361 mile, two-owner car, original except for a repainted nose. Lightly used, some scrapes on the driver’s seat. Aged underbody. Surprisingly good despite the long storage and nearly negligible miles it has covered in forty-one years. – This result includes a realistic premium for the 2-owner history and low miles that make the result appropriate for this specific car. Lot # 33 1953 Packard Caribbean Convertible; S/N 26782327; White/Black, White leather; White cloth top; Estimate $65,000 – $75,000; Cosmetic restoration, 3- condition; Hammered Sold at $51,000 plus commission of 10.00%; Final Price $56,100. No Reserve – Chrome wire wheels, wide whitewalls, automatic, power top, P/W, WonderBar radio, power seat, P/S, P/B – A superficial cosmetic redo of a sound Caribbean. Weak interior chrome, tapering door gaps, cracked hood scoop. A desirable but flawed car. – Seriously flawed, it seems. The first Caribbeans like this are distinctive and even elegant compared with the later and progressively more gaudy Caribbeans. This one needs a complete restoration which at this price it can probably get and still not be totally underwater. Lot # 35 1954 Kaiser-Darrin 161 Roadster; S/N 161001253; Red/White; Estimate $115,000 – $135,000; Cosmetic restoration, 3+ condition; Hammered Sold at $81,818 plus commission of 10.00%; Final Price $90,000. – Wire wheel covers, wide whitewalls, wind wings – An attractive cosmetic restoration with very good paint, interior and chrome. Underbody has been sprayed assembled, and there is some exterior overspray. But it sure has eye-appeal. – A sharp little car in good driver condition that no one is going to be embarrassed to be seen driving. It’s not restored, but it is more than good enough to be a sound value at this post-block price. Lot # 36 1966 Porsche 911 Coupe; S/N 305518; Engine # 909295; Irish Green/Tan leather; Estimate $85,000 – $100,000; Recent restoration, 3+ condition; Hammered Sold at $70,000 plus commission of 10.00%; Final Price $77,000. – Blaupunkt multiband radio, chrome wheels, Vredestein blackwall tires, folding back seat, woodrim Porsche steering wheel, Porsche certificate – Represented as matching numbers. Sound but flawed paint, good interior, weak chrome. Underbody is done nearly like new. Engine compartment is clean, orderly and nearly like new except for some loose insulation. An attractive example – except for the paint flaws – of an increasingly valuable Porsche. – This is a good, sound, well maintained early 2-liter short wheelbase 911. It’s nothing special, but that makes it special and a sound buy at this price. Lot # 37 1969 Cadillac DeVille Convertible; S/N F9291168; Gold/Buckskin; White vinyl top; Estimate $35,000 – $45,000; Visually maintained, largely original, 3+ condition; Hammered Sold at $22,000 plus commission of 10.00%; Final Price $24,200. No Reserve – Climate control A/C, AM-FM, P/W, power seat, tilt steering column, wheelcovers, narrow whitewalls, skirts – Clean, solid mostly original car with a good clearcoat repaint, top and original upholstery. 53,542 miles from new, and that’s what the car looks like. – This car is better than the money it brought, with no premium at all for its preservation. It is a good value.
Worldwide Auctioneers Auburn 2013 – Auction Report Page Two
Lot # 40 1933 Auburn 12-161A Custom Phaeton Sedan, Body by Limousine Body; S/N 12161A21874; Dark Blue, Light Blue flanks, polished aluminum accent/Grey leather; Black cloth top; Estimate $275,000 – $325,000; Recent restoration, 2 condition; Hammered Sold at $250,000 plus commission of 10.00%; Final Price $275,000. – Chrome wire wheels. blackwall tires, dual sidemounts with strap on mirrors, small Pilot-Ray, radiator stoneguard, Dual Ratio, ride control, freewheeling, Startix – Excellent paint, chrome, interior and top. Beautiful engine compartment. A quality car restored by LaVine in all respects that needs nothing to be displayed. ACD Category One, CCCA Premier. – It doesn’t get much better than this, a superbly restored 12-cylinder Auburn in especially attractive colors, thoroughly documented and meticulously maintained. It sold at Auburn Fall in 2003 for $106,000 and is still a sound buy ten years later for this money. Lot # 42 1961 Porsche 356B 1600 Super Coupe; S/N 113267; Engine # P87483; Heron Grey/Blue leather, White piping; Estimate $90,000 – $100,000; Recent restoration, 2- condition; Hammered Sold at $83,000 plus commission of 10.00%; Final Price $91,300. – Blaupunkt multiband radio, power sunroof, headrests, folding rear seats, luggage rack, chrome wheels, tool kit, underbumper fog lights – Very nice paint, chrome and interior. Sharp, crisp gauges. Good panel fits. Fresh, clean engine compartment. Shows some signs of use but still highly attractive, a Porsche that can be driven with verve and shown with pride at the end of the day. Porsche CofA documented and matching numbers. – Very well equipped, freshly restored, matching numbers, Porsche documented all add up to an exceptional car which brought an equivalently exceptional but appropriate price. Lot # 45 1956 Jaguar XK 140MC Roadster; S/N S811714DN; Red/Tan; Black cloth top; Estimate $120,000 – $140,000; Older restoration, 2- condition; Hammered Sold at $90,909 plus commission of 10.00%; Final Price $100,000. – Overdrive, chrome wire wheels, blackwall tires, wind wings, fender mirrors, Lucas fog lights, oversize aluminum radiator, electric fan – A quality older restoration to like new. Very good paint, chrome and interior. Underbody, interior and steering wheel show a little use and age but hardy more than a brand new dealer’s demonstrator. – Closed post-block at an even $100K the new owner should be very content with both the car and the price paid for it. The overdrive will make it comfortable to drive on the highway and it is all but impossible to find specific details to complain about in its condition. Lot # 47 1934 LaSalle Series 50 Convertible Coupe; S/N 2107058; Orange, Black/Black leather; Black cloth top; Estimate $175,000 – $225,000; Older restoration, 1 condition; Hammered Sold at $137,500 plus commission of 10.00%; Final Price $151,250. – Orange wheel discs, whitewalls, skirts with hubcap ornament, rumble seat, biplane bumpers – A stunning concours quality fresh restoration in every detail. Gorgeous paint, brilliant chrome, succulent upholstery. Way beyond perfect. – This LaSalle is a piece of eye-candy in dramatic colors and adorned with choice Deco trim. Its restoration is magnificent and it is hard to believe it was completed over ten years ago. It was sold by RM at Meadow Brook in 2005 for $143,000, but under a different ID number, however there’s no mistaking this orange and black beauty. It should be considered a good value at the price it brought here. Lot # 48 1956 Continental Mark II Coupe; S/N C5601603; Dark Blue/Two tone Blue leather; Estimate $40,000 – $50,000; Visually maintained, largely original, 3- condition; Hammered Sold at $38,000 plus commission of 10.00%; Final Price $41,800. No Reserve – A/C – Poor old partial and mismatched repaint Sound old upholstery, vinyl wrapped steering wheel, frayed window seals, fair chrome. Filled body. A good basis for a restoration. – An expensive restoration, at that, but when it’s done it will be an example of one of the most beautifully designed American automobiles of the Fifties, and that is more than good enough to support the price it brought here. Lot # 50 1949 Buick Roadmaster Convertible Coupe; S/N 554482I7; Cumulus Grey/Red leather; Black cloth top; Estimate $90,000 – $110,000; Older restoration, 2 condition; Hammered Sold at $69,091 plus commission of 10.00%; Final Price $76,000. – 320/150 Buick overhead valve eight, Dynaflow, pushbutton radio, clock, P/W, power top, tilt mirror, hubcaps, sombrero trim rings, fog lights, skirts – Very good paint, chrome and interior. Restored over ten years ago to like new condition with better clear coat paint that isn’t too shiny. The way the restoration is holding up is indicative of its quality and the care it has received from its owners. Nice car. – A post-block sale at an appropriate price. The new owner should be extremely satisfied with the car and with the price paid for it. Lot # 52 1969 Pontiac Trans Am Coupe; S/N 223379N106455; Engine # 0792693 WQ; White, Blue stripes/Blue vinyl; Estimate $80,000 – $100,000; Cosmetic restoration, 2- condition; Hammered Sold at $75,000 plus commission of 10.00%; Final Price $82,500. – 400/335hp, 4-speed, AM-FM, Rally II wheels with trim rings and Polyglas G70-14 tires, P/S, P/B, 3.55 Safe-T-Track – Very good paint, good interior and chrome. Engine is done like new. Underbody is cleaned up, but not like new. Hood safety catch release is broken. Dashboard details are dirty, a disappointing oversight on an otherwise attractive car. PHS documented – All the hood latch needed was a circlip retainer, but it did make it disconcerting when trying to read the engine number. A quality Trans Am with enough comfort and convenience equipment to make it a comfortable driver and tour car, it would not have been expensive at $10-15 thousand more. Lot # 53 1940 Cadillac Series 62 Convertible Sedan; S/N 8325031; Maroon/Red leather; Beige cloth top; Estimate $65,000 – $75,000; Older restoration, 3- condition; Hammered Sold at $45,000 plus commission of 10.00%; Final Price $49,500. No Reserve – Pushbutton radio, heater, turn signals, grille guard, large hubcaps, wide whitewalls, clock – A sound but tired and toured old restoration. Paint has cracks and, bubbles but isn’t falling off. Some curdled window seals. Upholstery is sound but gaining patina. A good tour car with pretty coachwork but would like generalized attention, some of it not inexpensive. – The restoration is old and has some annoying shortcomings but the car itself is sound, handsome and adaptable, a real classic that is still elegant and exceptional. It is next to impossible to find a CCCA Full Classic ™ like this, with open coachwork for this kind of money and it can be, and should be, used exactly as it is on sunny weekends for the next two decades before it needs any serious work. The new owner got an enjoyable classic open Cadillac at something that can realistically be called a bargain price. Lot # 60 1937 Cord 812 Supercharged Convertible Coupe Sportsman; S/N 2494F; Engine # FB2832; Cigarette Cream/Red leather; Black cloth top; Estimate $200,000 – $250,000; Older restoration, 3- condition; Hammered Sold at $145,000 plus commission of 10.00%; Final Price $159,500. No Reserve – Radio, whitewalls, fog lights, outside exhaust headpipes, fitted with a reproduction supercharged by Eduardo Ponce de Leone in Uruguay. – A sound and usable old restoration done with some excessive chrome and polish under the hood. Paint is edge clipped, upholstering is creased and lightly soiled. Engine is orderly but used and a little dirty. Probably too good to re-restore but needs thorough attention and touchup. The FB engine prefix indicates an originally naturally aspirated engine and these numbers do not appear, despite an exhaustive search, in Josh B. Malks compilation. No ACD certification was offered. – A usable driver but the sketchy record is more than a yellow flag and makes this car no bargain even at this price. Were it verifiably real it would easily be worth more than $200K.
Worldwide Auctioneers Auburn 2013 – Auction Report Page Three
Lot # 64 1970 Pontiac GTO Judge Convertible; S/N 242670P255726; Engine # 0513381 WS; Atoll Blue/Black leatherette; Black vinyl top; Estimate $220,000 – $250,000; Recent restoration, 2 condition; Hammered Sold at $195,000 plus commission of 10.00%; Final Price $214,500. – 400/366hp Ram Air III, 4-speed, Hurst shifter, P/S, P/B, woodgrain steering wheel, buckets and console, pushbutton radio, Rally II wheels, Wide Oval tires, Endura nose, wing, power top – Very good cosmetics, excellent engine, beautiful color, accurate, thorough restoration. PHS documented – It is impossible to argue with the price this GTO Judge brought with its Ram Air III engine, 4-speed, lavish complement of accessories and exceptional restoration. It’s a great car and it brought the right money. Lot # 67 1961 Maserati 3500 GT Coupe, Body by Touring; S/N AM1011082; Engine # 101630; Ivory/Dark Green leather; Estimate $160,000 – $180,000; Cosmetic restoration, 3 condition; Hammered Sold at $165,000 plus commission of 10.00%; Final Price $181,500. – 5-speed, silver steel wheels, hubcaps, Michelin X blackwalls, bullet mirrors, Sony CD stereo – Engine modified with crank timed individual ignition coils. Odometer shows 11,509 km. Sound repaint over wavy body panels. Sound but not impressive chrome. Sound upholstery with many miles. Wiper scratched windshield. Chassis and underbody repainted over limited prep. A usable divisor. – Someone has taken the time and made the effort to updated this Maserati and take full advantage of its twin plug ignition. The array of coils along the firewall is nothing if not impressive and the car is sound, well maintained and has decent cosmetics. This price is reasonable and, if the effort put into the ignition system is any gauge of its care and attention, a Maserati that is likely to be highly satisfying to own and drive. Lot # 69 1963 Porsche 356B Coupe, Body by Karmann; S/N 213147; Engine # P605841; Signal Red/Brown leather; Estimate $60,000 – $70,000; Enthusiast restoration, 3+ condition; Hammered Sold at $48,000 plus commission of 10.00%; Final Price $52,800. – Chrome wheels, Vredestein blackwalls, Blaupunkt multiband radio, folding rear seats, engine rebuilt to Super specs – Good new paint and chrome, very nice original upholstery, underbody painted assembled and over old undercoat. Clean, orderly engine compartment. Front fenders filled as expected, rust bubbles in trunk lid. The engine number is a little older than the body. – Not the best 356B on the planet, but more than good enough to be driven happily and with great satisfaction, especially at this modest price. Lot # 71 1971 Mercedes-Benz 280SL Roadster; S/N 11304412020424; Light Beige/Brown leatherette; Estimate $65,000 – $75,000; Visually maintained, largely original, 3 condition; Hammered Sold at $54,000 plus commission of 10.00%; Final Price $59,400. – Automatic, Becker Europa AM-FM, A/C, wheelcovers, narrow whitewalls, two tops, manual, tools – Decent paint, interior and chrome. Orderly underneath with some attention to the top of the engine, but not to the bottom. A sound and presentable driver. – A good car, bought for a good car price. Lot # 75 1940 Lincoln Continental Cabriolet; S/N H95945; Black/Maroon leather; Black cloth top; Estimate $65,000 – $85,000; Visually maintained, largely original, 3- condition; Hammered Sold at $23,455 plus commission of 10.00%; Final Price $25,800. – Hubcaps, trim rings, wide whitewalls, skirts, continental kit, radio – Largely original with a fair older repaint and good upholstery. Thin trim chrome, aged, discolored gauge faces. Dirty original underbody. – Cataloged as a Zephyr, this Lincoln has a Continental body and interior trim but a Zephyr finished engine (painted heads and intake, not polished.) It brought a Zephyr price, much less than the $66,000 it brought at RM Meadow Brook in 2007 or the $53,900 it brought at RM’s Ft. Lauderdale auction in 2008. If it’s a Continental with a Zephyr engine it is a huge value. Lot # 76 1967 Willys Jeepster Convertible; S/N 870501613655; Red/Black vinyl; Black leatherette top; Estimate $25,000 – $35,000; Cosmetic restoration, 3+ condition; Hammered Sold at $26,000 plus commission of 10.00%; Final Price $28,600. No Reserve – 225 cubic inch Buick V-6 (optional in Jeepsters in 1967), cassette stereo, A/C, 4-wheel drive, rollup door windows, drop down curtains for the rear, Sun tach on steering column, hubcaps, trim rings, narrow whitewalls, fog lights, chrome bumpers – Fair orange peely paint, good interior, chrome and top. Chassis has been cleaned and painted assembled. A funky summer car for the ocean or the lake. Dressed up with ‘Cape Cod Edition’ graphics that mean nothing but are cute. – A good and very usable Jeepster that will be happily enjoyed on beach outings. At this price sand or mud tracked into it by the dogs (or the kids) only add to its appeal and utility. Better than a Jolly, for 1/3 the money. Lot # 80 1955 Chevrolet Bel Air 2-Dr. Hardtop; S/N VC55F047421; Gypsy Red, India Ivory/Red vinyl, cloth; Estimate $25,000 – $35,000; Older restoration, 3- condition; Hammered Sold at $26,500 plus commission of 10.00%; Final Price $29,150. No Reserve – 265/162hp, 2-barrel, Powerglide, P/S, wheel covers, whitewalls, pushbutton radio, skirts – An older restoration to good driver standards that has now lost its edge; over the edge in fact. Dirty engine with peeling paint and oxidized finishes. Cracking paint on roof. Sound interior, chrome and stainless. Clean, orderly underbody. – This Bel Air needs a good home prepared to give it the attention it needs and at this price it can get it. It has eye-appeal from a distance and has a lot of potential for not a lot of money. It is a sound value. Lot # 81 1952 Mercury Monterey Convertible; S/N 52LA15688M; Vassar Yellow/Blue, Beige; Ivory vinyl top; Estimate $35,000 – $45,000; Older restoration, 3+ condition; Hammered Sold at $28,000 plus commission of 10.00%; Final Price $30,800. No Reserve – 255/125hp flathead, automatic, pushbutton radio, P/W, heater, power top, wheel covers, whitewalls, skirts, oil filter – An older restoration to like new condition with some touring miles on it. Still very attractive and only a thorough detailing away from being very good. – Sold at Auburn Fall last year for $31,625, this solid old Mercury convertible could have brought another $5,000 without being over-priced.
[Source: Rick Carey]
Another great summary. Maybe I have not been observant enough in the past, but is it common to have so many cars sell below/at the minimum estimate?
‘Common’ is relative.
Comparing the High estimate sale rate for different auction companies is probably not relevant, Assigning estimates is largely a reflection of the auction companies’ policies and, frankly, their ability to negotiate with consignors.RM and Gooding have leverage with consignors and can dictate the reserves and estimates. Others have less leverage.
So, I compare year-to-year performance against estimate of the same auction and location — in which case Worldwide Auburn has been consistent in the present location. It’s also a factor in evaluating individual cars’ selling price against the published estimate during a particular sale. But comparing Worldwide Auburn against Gooding Pebble Beach is not particularly valid.
There are other considerations in Auburn, particularly the dozen pieces of farm equipment offered at the sale’s beginning. The were all without reserve, which makes the estimates even less relevant.
Thanks for asking. It’s a good question.