Building Confidence
Car Collector’s previous issue presented a summary of results from the Monterey auctions and the top ten transactions from each of the sales. This issue will cover a few of the individual transactions from Monterey to flesh out the bare statistics, then follow on with subsequent auctions from Auburn, Branson and Los Angeles.
Auburn, which for years has been one of the market’s bellwethers, turned out to be badly distorted by business factors largely unrelated to the market itself. It suffered as a result, even those such as Worldwide which were unaffected by the specific concerns. Fortunately a week later the Branson Auction turned in much better numbers than last year and subsequent sales by RM in Los Angeles and Hershey (not covered here in detail) confirmed buyers’ confidence and the market’s strength.
There is little indication of a general weakness in prices, or a lack of willingness to buy good cars. Cars that are weak in condition, presentation or history, are hard to sell and bring appropriately modest prices. For every notably weak transaction there is an offsetting notably strong one, is a pattern which this market, fueled more by enthusiasm and passion than by rational investing decisions, has always exhibited.
Any market that can absorb a large quantity of specialized non-productive assets – like Nick Alexander’s Ford and Mercury woodies or Ralph Whitworth’s rods, customs and lakes cars – and have a series of buyers step up and pay five- and six-figure prices for them is nothing if not healthy.
However, today’s market is also fragile. The results from Kruse Auburn show the effect of a precipitous loss of confidence by consignors and bidders. It takes years to build a good reputation, but only a few months to shake its foundations. Once the only game in town, Kruse now is beset by competitors on all sides, attacking every aspect of its business plan with well-run, well-capitalized, customer-oriented auctions. Instead of concentrating on its strengths – like Auburn – it dissipates its diminishing resources on unproductive forays into competitive venues.
Case in point, Hershey. Two years ago at the Giant Center Kruse sold 98 cars for $4.8 million; last year it was 64 for $1.8 million. This year they set up in Lebanon, Pa., nearly invisible from Hershey, and had only 37 cars of which just 10 sold for a total of $292,700. That is nothing if not a complete waste of time, effort, site rent and travel expense.
RM (which is about to announce a new auction venue in Europe in 2010 along with a biennial schedule for Leggenda e Passione at Ferrari in Maranello) and Mecum (which established a successful beachhead on the West Coast at Monterey in August) are well-positioned to continue to expand. They have capital, organization, systems, marketing and management, making them formidable competitors.
The challenge for Kruse will be to come up with a completely new game plan that relies on the company’s strengths – name recognition and history – to rebuild its position as an important competitor. They won’t do it with 37 car sales in Lebanon, Pa., but Dean Kruse and his company have a wellspring of good will and 30-plus years of shared experiences with collectors that gives them a chance to rebuild. Everyone, even their competitors, wants to see them succeed.
For a complete list and pictures our Print magazine and/or digital magazine.RM Auctions—Nick Alexander Collection
Portola Plaza
Monterey, Calif
August 13, 2009
Nick Alexander (Los Angeles-area BMW dealer) brought the art of finding, restoring and preserving Ford woodies to a high order. He did it in an unusual way, preserving everything that could reasonably be saved and refinishing the rest to perfection, particularly the wood. Call it a “light touch” restoration. As a result the cars were difficult to characterize and to value but the bidders gathered from all over Ford Woodie-land on Thursday night reached one conclusion quickly: bid fast and bid high.It set a positive tone for the rest of the Monterey auctions, which followed in overlapping sequence for the next three days. 1940 Ford Standard Station Wagon (Marmon-Herrington); S/N 185820441; Cloud Mist Grey/Brown; Estimate $200,000 - $250,000; Recent restoration, 2 condition; Hammered Sold at $210,000 plus commission of 10.00%; Final Price $231,000 — 4-wheel drive conversion by Marmon Herrington, 3-row seating. Restored like new. 2003 Pebble Beach class and Dearborn Award winner. Nick Alexander Collection. No Reserve. Awesome. This must be one of the most unusual and desirable trucks in existence. Its restoration is perfect and it will make a statement in any collection, show or off-road event. — Lot #134
 1947 Ford Super Deluxe Sportsman Convertible; S/N 799A1691621; Monsoon Maroon/Maroon leather; Black cloth top; Estimate $200,000 - $250,000; Older restoration, 2 condition; Hammered Sold at $200,000 plus commission of 10.00%; Final Price $220,000 — Radio, Columbia 2-speed axle, P/W, power top, trim rings, blackwall tires, radio and clock but no heater or turn signals. A second series 1947 Sportsman. Excellent older restoration still sharp and crisp except for some paint cracks around radio antenna base. AACA National First Prize and Early Ford V8 Dearborn Award winner. Nick Alexander Collection. No Reserve. A brilliant example restored in the 1980’s by Claude Taylor in Asheville, NC and refreshed in 2004 in Nick Alexander’s shop with fresh varnish and meticulous detailing, this is about as good as it gets. It’s impossible to fault the presentation despite the two decades since it was done. The wood is sublime and this is close to the ultimate Ford woodie. The price is no better than the car. — Lot #152
 1946 Mercury Sportsman Convertible; S/N 99A1140582; Dark Blue/Burgundy leather; Black cloth top; Estimate $275,000 - $350,000; Older restoration, 2+ condition; Hammered Sold at $335,000 plus commission of 10.00%; Final Price $368,500 — P/W, power top, Columbia 2-speed axle, turn signals, trim rings, blackwall tires, no radio or heater. Restored like new with some very pretty tiger striped maple framing on the doors. 2004 Dearborn Award winner. One of 205 built. Nick Alexander Collection. No Reserve. One of just 205 built and a real Mercury, not a trimmed-up Ford, it was the prize acquisition of the Alexander collection, deserving every penny of the $1/3 million (it sounds more impressive that way) that was paid for it. — Lot #135 ...more
RM Auctions
Portola Plaza
Monterey, Calif
August 14-15, 2009
RM’s regular “Sports and Classics of Monterey” auction followed the Alexander Collection sale with two more days of (what a surprise) sports and classic cars. Monterey is the biggest and longest-running event on RM’s ever-growing annual auction schedule and it can be counted on for a diverse consignment balancing a choice selection of high quality cars with a broad offering of American and European sports and touring machines. 1935 Duesenberg Model SJ Disappearing Top Convertible Coupe, Body by Murphy; S/N 2406; Engine #J-527; Maroon/Black leather; Beige cloth top; Estimate $1,300,000 - $1,600,000; Concours restoration, 1- condition; Hammered Sold at $1,300,000 plus commission of 10.00%; Final Price $1,430,000 — Chrome wire wheels, dual remote spotlights, dual sidemounts, Pilot-Rays, polished hood side vents on left with mesh screen around head pipes on right. Small paint cracks around rumble seat. Cowl trim chrome scratched and scuffed near hood hinge. Beautiful and desirable but the concours edge is gone. Long, involved, convoluted ownership history but ACD Level 1 certified. Supercharger is a Leo Gephardt/Brian Joseph copy replacing the long-lost original blower on J-527 (originally in chassis 2556.) Charting the movement of the major pieces now assembled under this attractive Murphy Disappearing Top Convertible Coupe body requires more effort that you’re going to find in this auction report. Believe me, it’s complex. More complex than the Duesenberg. It’s all real, however (except for the repro blower) and very pretty. Sold for $825,000 by RM at Meadow Brook in 2003, then offered by Gooding in West Palm in January 2006 where it was bid to $820,000, it brought a handsome but not unreasonable price here today. — Lot #533
 1952 Jaguar C-type; S/N XKC 007; Engine #E1009-8; BRGreen/Beige leather; Competition restoration, 2+ condition; Hammered Sold at $2,300,000 plus commission of 10.00%; Final Price $2,530,000 — RHD. Grey painted wire wheels, full width low Plexiglas windscreen with aeroscreens. The first C-type delivered to the U.S. where California dealer Charles Hornburg put it in the hands of a young Jaguar mechanic and driver recently returned from a factory orientation, Phil Hill. Hill won first time out in the Sheldon Cup at Elkhart Lake. Later owned and raced by Carlyle Blackwell, Jr. Restored by Terry Larson in the mid-’80s to JCNA winning standards. Excellent paint and upholstery. Original engine with a later D-type head, original C-type head included. Better than new. Comes with its original seats and tool roll. RM’s top sale of the week, and it is a deserving champion. — Lot #554 ..more
RM Auctions—"Icons of Speed and Style
Petersen Museum
Los Angeles, Calif
September 26, 2009
Ralph Whitworth stepped to the podium as his collection was offered by RM in the “Icons of Speed and Style” sale and calmly said, “Times change.”Whitworth had been one of the leading participants in the effervescent bidding for pop culture cars and items in 2006-2007. He figured in the GM Futurliner sale at Barrett-Jackson, he was by far the dominant figure in RM’s 2006 auction of the Brucker collection here at the Petersen. His vision was to build a museum of rods, customs, lakesters and land speed record cars in his hometown of Winnemucca, Nevada. Only now with the disposition of much of the collection did it become clear both how enjoyable and informative that museum would have been. Also clear was that Ralph Whitworth had been buying with his vision focused on a goal, something which many bidders during the last few years did not have.Everything was “no reserve”. It all found new homes. Some of it was cheap, some of it was not-so-cheap. Through it all Ralph Whitworth sat in the front row, occasionally joking with the RM staff and bidders and taking his not inconsiderable lumps amicably, like the professional investor he is.It would have been a great museum. 1965 Dodge A100 Pickup Truck “Little Red Wagon”; S/N 1882021629; Burgundy “Little Red Wagon” /; Estimate $200,000 - $300,000; Competition car, original as-raced, 4+ condition; Hammered Sold at $500,000 plus commission of 10.00%; Final Price $550,000 — The famous wheelstander that once went 4,230 feet with its front wheels in the air and its creator Bill “Maverick” Golden at the wheel. Retired in 2003 and now an aged, neglected and rusty piece with decent paint and graphics. This car’s epic reputation is evident in the price it brought, 21/2 times its low estimate and 2/3 more than the high. It is probably capable of resuming its exhibition runs after comprehensive work, but if good sense prevails it’ll just be preserved as an icon (as much as I hate the overuse of this word these days, it’s appropriate here) of speed and style. — Lot #249
 1961 Ivo, Tommy “Wagon-Master” Riviera Exhibition Dragster; S/N N/A; Black, Red/Black vinyl; Estimate $125,000 - $175,000; Competition car, original as-raced, 3+ condition; Hammered Sold at $190,000 plus commission of 10.00%; Final Price $209,000 — “TV” Tommy Ivo’s exhibition car powered by four Buick nailheads, four wheel drive. Rebodied for second owner Tom McCourry with a caricature of a Buick station wagon body. Restored by Tommy Ivo and well-preserved since his final tire-burning tour. A memorable machine, the Wagon-Master’s importance is its place as one of the first — if not the first — car built to no competitive class rules, just to create an immensely memorable and successful show to draw spectators to drag strips and fill in the gaps between classes with clouds of tire smoke. If that doesn’t justify this price, nothing does. — Lot #250
 1966 Roth Druid Princess; S/N N/A; White, Purple veiling/Purple velour, White vinyl; Estimate $150,000 - $250,000; Customized restoration, 1 condition; Hammered Sold at $185,000 plus commission of 10.00%; Final Price $203,500 — Ed Roth’s last show car. Purchased by Ed’s son Darryl, it was restored to its original appearance. Show car restoration with thick paint on the elaborate picture frame moldings which adorn its edges and openings. “Iconic” is probably less apt than “outrageous” in this case but the look is so distinctive it is immediately recognizable. The story of acquiring the child’s casket which houses the gas tank and battery (swapped for $200 cash with a funeral director’s son late at night in an alley) alone is worth a not inconsequential part of the price. Pure Roth. — Lot #258
 1976 Spirit of 76 Bonneville Streamliner; S/N DR941194T; Black, Orange “Speed-O-Motive” /; Estimate $150,000 - $200,000; Competition car, original as-raced, 3+ condition; Hammered Sold at $250,000 plus commission of 10.00%; Final Price $275,000 — Supercharged Chrysler Hemi. Good old paint, otherwise pretty much as-raced ... and could be again. Displayed in the Petersen’s parking garage with its engine cover removed to show the dense packing of its components and considerable ingenuity. Still an FIA wheel-driven land speed record holder in two classes with a two-way average of 409.978 in the mile and 425.050 in the kilometer in 1991, faster than the Summers Brothers’ 4-engine “Goldenrod” and still the fastest wheel-driven automobile in the world. 2 bidders from $90k, one in the tent and the other on the phone with Al Teague (who thinks it has more miles per hour waiting to be discovered) waiting to jump in. Bought by a very determined phone bidder at a record price and the recipient of a very well-deserved round of applause. — Lot #236 ...more
Bonhams & Butterfields
Quail Lodge
Carmel Valley Calif. August 14, 2009
The Sidney H. Craig collection highlighted Bonhams Quail Lodge auction, but much attention was focused on the appearance late in the lot order of the Auto Union Type D Grand Prix car. The auction’s pace, however, was glacial, running barely 11 cars per hour for much of the auction and leaving the Auto Union like a choice carrot hanging just beyond the edge of endurance.
Cars started to cross the block on time at 1PM but it was nearly 10 before the Auto Union, only the 96th lot to be offered after almost nine hours, roared up on the block driven by Alain deCadenet and accompanied by thunderous Wagner. A few minutes later it left, unsold at a high bid of $6 million, and headed to the lawn at Pebble Beach where it was one of the featured cars at Sunday’s Concours d’Elegance.
 1937 Cord 812 Supercharged Phaeton; S/N 31910H; Engine #FC2634; Cigarette Cream/Red leather; Estimate $225,000 - $275,000; Older restoration, 3+ condition; Hammered Sold at $135,000 plus commission of 15.19%; Final Price $155,500 — Pair of Kilborn Sauer fog lights, single Trippe driving light, Tropic Aire heater, single rear mounted spare, radio, extended rear bumper around spare and raised rear license bracket on left bumper spring. “TM” branded leather stone guards on rear fenders and custom gas pedal cover. Clean and will maintained old restoration appears to be lightly used, surface cracked original leather, good top. Sound paint with some cracks, good chrome. Wide whitewalls, red steel wheels. Not fresh but usable and presentable as is. Owned by cowboy star Tom Mix and the car he was driving when he was killed in a crash. Thoroughly documented and restored many years ago. Sidney H. Craig Collection. No Reserve. This is a reasonable price for a supercharged 812 Phaeton in this condition and reflects little premium for its Tom Mix history. Unlike the Duesenberg owned by William Boyd “Hopalong Cassidy”, Tom Mix died in 1940 before most of today’s collectors had a chance to have his image impressed upon them. That’s a shame because, as the newspaper article that came with the car noted, he “was a rear for-sure cowboy, a poke who had learned to rope and ride before he ever thought of becoming an actor.... No stand-in did dangerous scenes in Mix pictures.... He did it for himself.” The buyer got an authentic piece of two legends for the price of one. — Lot #224
 1933 Duesenberg Model J Torpedo Convertible Victoria, Body by Rollston; S/N 2535; Engine #J384; Black/Burgundy leather; Black cloth top; Estimate $1,200,000 - $1,600,000; Older restoration, 1 condition; Hammered Sold at $1,300,000 plus commission of 10.54%; Final Price $1,437,000 — Chrome wire wheels, wide whitewalls, dual enclosed sidemounts with chrome rings and mirrors, Pilot-Rays, thermostatic radiator shutters, Twilite headlights, top-hinged opening windshield, crank adjustable front seats, exhaust cutouts, dual windshields. Concours restoration with a little age. Great paint, chrome and interior. Built for E.T. Foley with mechanically operated top mechanism, the only one of its kind, on 142 1/2” wheelbase. Re-united with its original engine during restoration, AACA National First Prize, CCCA Senior, Pebble Beach 1996. Second (or perhaps third) owner was William Boyd, famed movie and television cowboy star who made Hopalong Cassidy famous. Sidney H. Craig Collection. No Reserve. A unique automobile with attractive one-off coachwork, meticulously restored and carefully maintained and once owned by one of film, radio and television’s most famous stars, all attributes that make this price reasonable and fair to both the buyer and the seller. — Lot #223 ...more
Russo and Steele
Marriott Hotel
Monterey, Calif.
August 14-15, 2009
Russo and Steele, always astutely watching the zephyrs of fashion in the auction world, has now transitioned to an “all with reserve” format after years selling cars “no reserve” with a bargain buyback commission. “All with reserve” makes the process much more transparent, and the presentation on the block seems to have dialed the frenzy down several notches along the way.It may be the best show in Monterey. There are no charges to watch the cars line up on the street outside the Marriott, drawing a continuous flow of spectators … and a few of them probably are drawn further, into Russo and Steele’s bidder registration where they can take their chances on the block. It’s worth keeping in mind that alone among the Monterey auctions there are no $50 catalog buying tire-kickers elbowing their way onto the block at Russo and Steele. Everyone there has a bidder number or is a bidder’s guest (well, OK, there also are a few journalistic tire-kickers, but they know their place.)
 1939 Daimler Dolphin Dual Cowl Phaeton, Body by Charlesworth; S/N 28554; Two tone Brown/Dark Brown vinyl; Beige cloth top; Cosmetic restoration, 3- condition; Hammered Sold at $37,000 plus commission of 10.00%; Final Price $40,700 — RHD. Pre-selector gearbox, folding cowl for rear seat entry, fog and driving light. Sound but aged old repaint and interior. Badly tarnished brass plated trim including radiator. Trafficators missing. Tired but sound, interesting and definitely unusual. Chassis not done and has plenty of road grime. Consignment #4051. This is a very strange automobile, as were many of its counterparts at Daimler during this period. It will not have much competition in British car events and needs just enough work of moderate difficulty to keep its new owner involved but not enough to impair its ability to be driven and enjoyed. There are many much less interesting ways to blow this much money on a collector car. — Lot #S612
 1961 Porsche 356 Carrera 2/2000 GS Cabriolet; S/N 154626; Metallic Blue/Black leather, Herringbone cloth; Black top; Older restoration, 1 condition; Hammered Sold at $300,000 plus commission of 10.00%; Final Price $330,000 — Chrome wheels, Blaupunkt multiband radio, woodrim steering wheel. Driven by Ferry Porsche when new, then damaged in an accident while being tested after servicing, it was rebuilt with a new T-6 front clip and the first 587/1 4-cam 2000GS engine. Eventually sold to its first private owner in California and documented since including authentication by Porsche. Excellent paint, chrome and interior. Restored like new. Consignment #4098. This car is all about the history. It was offered by RM here in Monterey in 1998 where it no-saled at $220,000. 11 years later it would seem the 1998 consignor might have been wise to take the money (if there was any) but the car’s value has probably fared better than the seller’s 401K in 2008-9 so it looks pretty good. The new owner has an absolutely unique piece of Porsche history, albeit created by accident. — Lot #F437 ...more
Mecum Auctions
Hyatt Hotel
Monterey, Calif.
August 15, 2009
This marked Mecum Auctions’ first foray into Monterey, a venue that needs another auction like it needs another car show, many people thought. Mecum proved that opinion to be seriously narrow-minded, bringing a cheerfully middle-brow show with fast-paced, tightly timed action to the Peninsula.
It proved to be a refreshing addition, with a docket that featured many outstanding cars (including truckloads from a California dealer cutting back on his inventory) and some of the most unusual cars seen anywhere on the Peninsula.
The highlight, of course, was the Cobra Daytona Coupe which set another standard for the weekend with the highest price of any car sold and setting a record for an American automobile at auction. It made history, and half of Mecum’s total sale, too.
The Cobra Daytona Coupe’s attention masks the more important fact that Monterey has another significant auction player, selling nearly $7 million in mainstream collector cars. Mecum brings an important and valuable element to the Monterey auctions which has been largely missing as the other sales have moved upscale with consignment lists frozen early to make glossy catalog deadlines.
At Mecum the consignment list and block schedule isn’t settled ‘til the morning of the sale, kinda like waking up on Christmas morning to see what goodies are under the tree.
 1967 Chevrolet Corvette 427/435 L89 Coupe; S/N 194377S118305; Goodwood Green, White stinger/Saddle; Recent restoration, 2- condition; Hammered Sold at $205,000 plus commission of 6.00%; Final Price $217,300 — 427/435hp, L89 aluminum heads (one of only 16 built), 4-speed, alloy wheels, P/W, 3.55 Positraction, F41 suspension, AM-FM. Excellent paint, chrome, interior and glass except for incipient windshield delamination. Underbody shows some use and age. Interior console has a few scuffs. Built to Ed Cole’s order for a neighbor, R.H. Pohl. This is a special order car with nothing on it that wasn’t on the Corvette option list. There is nothing “C.O.P.O.” — as touted in its presentation — about it and it is misleading to present it as such. A no-sale at Mecum’s 2004 Bloomington Gold Corvette sale at a reported bid of $150,000, last month it was presented at Bloomington Gold again where it was run to a reported bid of $550,000. The result today is a generous but much more responsible price to pay for a “brass hat” L89. — Lot #S086
 1940 Packard One-Eighty Super Eight Convertible Victoria, Body by Darrin; S/N 18062025; Miami Sand/Tan leather; Tan cloth top; Concours restoration, 1 condition; Hammered Sold at $330,000 plus commission of 6.00%; Final Price $349,800 — Radio, (working) clock, water, dual outside mirrors, skirts, luggage rack, trim rings, wide whitewalls. CCCA Senior and National First Prize #2390. Great paint, chrome, upholstery, top... oh, heck, it’s just great. Reported sold at the Gooding & Company auction in Palm Beach, Florida in January 2006 for $253,000, this is just as nice today as it was then. Maybe even better. This is strong money for a Darrin, but this is a very strong Darrin. — Lot #S087
 1965 Shelby Cobra 289 Daytona Coupe, Body by Carrozzeria Grand Sport; S/N CSX 2601; Blue, White stripes/Black; Competition restoration, 2 condition; Hammered Sold at $7,250,000 plus commission of 6.00%; Final Price $7,685,000 — This is nearly singlehandedly the car that enabled Shelby to deliver Hank the Deuce’s dream of beating Ferrari for the FIA manufacturer’s championship. It is beautiful. It was introduced on the block by its designer, Peter Brock, and one of its drivers, Bob Bondurant. It has been redone to like new condition without making it into some gilded, chromed object of veneration. $175 buys the new SAAC Shelby World Registry, which has the details. It took only another $7,684,825 to buy the object. The new owner said, “I’ve always wanted one of them,” and of them this is the one to have. CSX 2300, with no significant race history, brought $4,400,000 at RM’s Monterey auction in 2000. The increment nine years later for a race-winner is modest enough. Bid to $6.8 million 10 weeks ago in Indianapolis, a lot was riding on this car in Monterey and it carried the load. — Lot #S104 ...more
Gooding & Company
Equestrian Center
Pebble Beach, Calif.
August 15-16, 2009
Gooding has quickly become the top dog among the Monterey auctions, with a lot of cars and even more money.
The inventory glistens and it is, for a few short days, the best, most diverse and most educational car museum in the world. There are rows of great classics, big, tall, high horsepower brass, antiques, exotic sports cars, single seat race cars, concepts, American 50’s and muscle. It’s a real show, presented with restraint, accuracy and refinement, then sold clearly and professionally by David Gooding and Charlie Ross.
The food service is fabulously over-priced but some bidders on Sunday evening took care of that by bringing in pizza. They shall remain nameless, but only because they shared.
 1933 Alfa Romeo 8C 2300 Drophead Coupe, Body by Castagna; S/N 2311214; Engine #2311214; Blue, Claret/Maroon leather; Black cloth top; Estimate $3,500,000 - $4,500,000; Recent restoration, 1 condition; Hammered Sold at $3,800,000 plus commission of 10.00%; Final Price $4,180,000 — RHD. Dual rear spares, free wheeling. Bought by Haim Ksayian in 1942 after several earlier owners and sold by him to David Sydorick in the early ’90s. Restored by Paul Russell & Company with engine rebuilt by Christopher Leydon. Class winner at Pebble Beach in 2008. Above reproach in all respects, meticulously restored and beautiful coachwork that looks better with the top up than down. “Sumptuous” and “seductive” barely come close to describing this gorgeous automobile. It’s no mistake that the bidders rose to the bait of this rare, balanced, beautiful Alfa. Sexy sells, and this is the automotive analog of sexy. — Lot #139
 1935 Duesenberg Model SJ Roadster, Body by Bohman & Schwartz; S/N 2596; Engine #J-509; Maroon/Tan leather; Estimate $3,500,000 - $4,500,000; Concours restoration, 1- condition; Hammered Sold at $3,000,000 plus commission of 10.00%; Final Price $3,300,000 — Enclosed rear spare, skirts, wheel discs, wide whitewalls, Guide fog lights, vee radiator with screen stoneguard, outside exhaust headpipes. An older concours restoration with excellent cosmetics and still nearly concours ready. Replacement engine but otherwise as-built with continuous history from new including Prince Serge M’Divani (who got it as a gift from his wife Barbara Hutton), Jerry Gebby, Steve Nanini, Pat Ryan and John Mozart. Modern and very attractive one-off Bohman & Schwartz body designed by W. Everett Miller. Spectacular. There were only 36 SJs delivered by Duesenberg and this is one of them. It is the only example of this sweeping, subtle coachwork. It has a wonderful history and now has earned an important place among memorable Duesenberg auction transactions. — Lot #130
 1962 Ferrari 250 GT SWB California Spider, Body by Pininfarina; S/N 3163GT; Engine #3163GT; Silver/Black leather; Black cloth top; Estimate $4,800,000 - $6,000,000; Older restoration, 2- condition; Hammered Sold at $4,650,000 plus commission of 10.00%; Final Price $5,115,000 — Chrome spoke Borrani wire wheels, bright side vents, disc brakes, covered headlights, grille mounted fog lights, hardtop (unrestored). Excellent paint, chrome and interior. Restored like new by Paul Russell and Company with a little age but hard if not impossible to fault. Ferrari Classiche certified, FCA Platinum twice. Five million is a lot of money, but it’s just half the record price for a SWB California last year. That doesn’t make this a bargain, nor even a particularly good value. It’s more like where these cars should be. — Lot #135
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Auburn Cord Duesenberg Museum
Auburn, Ind.
September 3, 2009
In the wake of Monterey the center of gravity for the collector car auction moved promptly to Auburn, Indiana. It picked up first at the ACD Museum’s annual dinner where Bill Parfet, doing a credible imitation of Dean Kruse and backed up by Bob Pass and Ed Hermann, auctioned several cars in whole or in part to benefit the museum.
A single transaction, the Duesenberg J described below, left onlookers gasping in amazement.
1930 Duesenberg Model J Transformable Imperial Cabriolet, Body by Hibbard & Darrin; S/N 2275; Engine #J-254; Black, Silver accent/Grey leather; Grey cloth top; Estimate $1,200,000 - $1,500,000; Older restoration, 1- condition; Hammered Sold at $2,900,000 plus commission of 8.00%; Final Price $3,132,000 — Chrome wire wheels, wide whitewalls, dual sidemounts with chrome bands, fitted cloth covered trunk, jump seats, rollup division, smoker’s kits, Trippe lights. Built for William Randolph Hearst and his mistress, actress Marian Davies, one of two in this style by Hibbard & Darrin. Restored some time ago and driven on the Pebble Beach Tour in 2008. Odometer shows 14,565 miles. A quality older restoration with excellent chrome, paint, interior, glass and top. Not fresh, but extremely well maintained and detailed for the auction. This car was sold at Auburn Fall in 2003 for $567,100 with 13,391 miles on the odometer. Offered here with at least some of the proceeds donated to the ACD Museum, the bidding went up in $100K increments from $1,000,000 with two bidders, one in the room and another on the phone. This is a wonderful car and its capability is demonstrated by the 1,174 miles it’s covered in the past six years but the price paid for it is nothing if not astounding. Subsequent inquiries substantiate it as a real transaction between two people who really wanted the car and were prepared to pay what it took to own it. Notwithstanding that, this is not as much car as the money it took to buy it tonight. The value is in winning the bidding contest. — Lot #11 ...more
Worldwide Auctioneers
Auburn, Ind.
September 5, 2009
This was Worldwide Auctions’ second annual “Auburn Auction”, offering a select group of cars in the Auburn area’s only catalog style auction. Presented on Saturday afternoon, the atmosphere in the marquee was a marked contrast to the country fair presentation which has heretofore characterized Auburn auctions.
Bidders, of which there were many, displayed more interest in watching than in bidding, however, and it took no small amount of effort to close transactions, including five which closed after the bidding ended. Worldwide made an unusually accommodating decision after the sale, releasing several important cars to try their luck at the Auction Park, something which rarely happens in the auction business. Notably, the cars didn’t sell there, either, an indication of the pall of uncertainty which hung over Auburn this week.
 1947 Chrysler Town & Country Convertible; S/N 7404228; Engine #C3939896; Newport Blue/Blue leather, Beige cloth; Berge cloth top; Concours restoration, 1 condition; Hammered Sold at $240,000 plus commission of 10.00%; Final Price $264,000 — Fluid Drive, P/top, pushbutton radio, wide whitewalls, dual remote spotlights. Fresh concours restoration better than new. Brilliant all new white ash frame, Honduras mahogany panel woodwork, excellent paint, chrome, interior, top and glass. Strictly speaking not a New Yorker, just a T&C. 2007 AACA Grand National Senior. One of 120 known survivors of this body style from the C39s only production year. This convertible isn’t anywhere close to as rare as the Barrel Back that preceded it but it is a lot more enjoyable to drive. The buyer got a great car for an appropriate price.
— Lot #52
 1942 Chrysler Windsor Town & Country “Barrel Back” Nine-Passenger Station Wagon; S/N 70512660; Engine #C34S1187; Newport Blue/Brown leather; Concours restoration, 1 condition; Post-block sale at $400,000 plus commission of 10.00%; Final Price $440,000 — Fluid Drive, pushbutton radio, roof rack, wide whitewalls, windshield visor. Restored to concours condition. All fresh brilliant wood, excellent paint, chrome and interior. Peoples Choice at Geneva, Illinois Concours in August 2009, Most Significant Chrysler at Meadow Brook 2009. One of just 16 known to survive of this two-year only (1941-42) style. Impossible to fault. Bid to $340,000 on the block and closed later with this result. If this is what it took, so be it. It is a spectacular automobile with an over the top restoration that had everyone who saw it marveling at the quality of the materials and workmanship. — Lot #51 ...more
Kruse International
Auburn, Ind.
September 3-6, 2009
Concerns over late payments for sold cars and creditor claims were a hot topic of discussion around the Kruse Auction Park this week and were well- and even-handedly documented in the Ft. Wayne Journal Gazette.The Auburn Fall consignment was down, way down, from prior years. Large areas of the preview area were vacant while the car corral for private sales was as full as it has ever been. Spectator and bidder parking areas were similarly sparsely filled. Many of the most expensive and heavily advertised consignments were from Dean Kruse’s own collection. Auburn Fall is one of the institutions of the collector car market, a place where collectors, restorers, dealers, hobbyists and enthusiasts have for years gathered to hang out with friends, eat carnival food and make deals. Its decline is something which everyone feels and hopes the Kruse organization can reverse. At the same time, though, no one was anxious to become enmeshed in the issues which inhibited buyers and sellers alike and led to the disappointing turnout and results. 1904 Oldsmobile Model R Curved dash Pie Wagon; S/N 22047; Black/Black; Older restoration, 2+ condition; Hammered Sold at $65,000 plus commission of 8.00%; Final Price $70,200 — Nickel Badger kerosene headlights, bulb horn on tiller. A show quality old restoration performed by George Green, one of the acknowledged experts in Curved Dash Oldsmobiles, and carefully preserved for years in the Smokey Mountain Car Museum. Brass has started to tarnish, engine looks neglected, a few paint chips and scuffs have appeared. Sold for $66,000 at RM’s Amelia Island auction earlier this year, it has suffered some slings and arrows since but it still a great ride for the London to Brighton Vintage Car Run and brought a reasonable price here in Auburn. — Lot #1026
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Cox Auctions — Convention Center
Branson, Mo.
September 11-12, 2009Branson’s second year on this September date built on last year’s performance with a modestly lower sale rate but substantially improved dollar total. In addition to the headline cars a steady stream of intriguing, attractive, well-maintained cars crossed the block.The good mix of cars and rapidly-moving flow across the block kept bidders in their seats each day, finishing up in good time for a cocktail and dinner. Branson is largely an entry-point auction where cars find their way from private, individual collectors’ hands into the larger collector car market. Most of the cars have no prior auction history, a fresh, new look that has many good cars of first impression.In other words, it’s a good place to look for cars that haven’t been shopped around.1935 Auburn 851 Dual Ratio Boattail Speedster; S/N 2988E; Yellow/Brown leather; Recent restoration, 2+ condition; Hammered Sold at $225,000 plus commission of 8.00%; Final Price $243,000 — Fog lights, Crosley radio, sombrero hubcaps with trim rings, 2-speed axle. Excellent paint, chrome and interior. Boston show car and the only known unsupercharged boattail speedster. Restored like new two decades ago, an AACA National First Prize winner with little evident age or use. While the supercharged Auburn Boattails have a deserved reputation for performance it is little if ever employed by collectors. This rare, possibly unique, unsupercharged Boattail is just as handsome, has adequate performance and a sharp, quality restoration that has met the test of time. The buyer got a terrific car for a relatively modest price. — Lot #581 1931 Cadillac 355-A V8 Roadster, Body by Fleetwood; S/N 809083; Jade Green, Dark Green fenders and accent/Saddle leather, Tan cloth top; Older restoration, 2 condition; Hammered Sold at $157,500 plus commission of 8.00%; Final Price $170,100 — Chrome spoke wire wheels, wide whitewalls, dual sidemounts with mirrors, Pilot-Rays, radiator stoneguard, steel luggage trunk, wind wings. Excellent paint, chrome and interior. Restored to like new condition a while ago and well preserved. Not fresh but darn nice. Fleetwood body, CCCA Full Classic, open coachwork and a sharp, high quality restoration mark this as a very desirable car, even if the power under the hood is “just” a V8. It brought a representative price here and will reward its owner with a fine ride for CCCA tours and events. — Lot #586 ...more
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