RM Auctions Arizona 2012 – Auction Report

RM Auctions Arizona 2012 – Auction Report Page Four

1967 Chevrolet Camaro SS Nickey

Lot # 261 1967 Chevrolet Camaro SS Nickey; S/N 124377N249460; Marina Blue/Blue vinyl; Estimate $400,000 - $500,000; Recent restoration, 2+ condition; Hammered Sold at $350,000 plus commission of 10.00%; Final Price $385,000 -- 468/450hp, dual quads, 4-speed, Cragar S/S chrome wheels, red line tires, rear slicks, Sun 270 degree tach on column flanked by Sun water temp and oil pressure gauges. Restored better than new with excellent paint, chrome, interior and glass. Hood fits a little proud and the chassis and underbody are a little dirty but nothing a thorough detailing won't fix. 468 cubic inch V-8 is the original type for the car, as built by Nickey and one of the last Nickey Camaros built. A pre-COPO Camaro that helped inspire the better known Yenko COPOs. Legendary drag racing performance in a superb restoration bought for a realistic price.

1963 Ferrari 250 GT/L Lusso Berlinetta

Lot # 263 1963 Ferrari 250 GT/L Lusso Berlinetta; S/N 4459GT; Engine # 4459GT; Dark Red/Tan leather; Estimate $900,000 - $1,100,000; Older restoration, 2- condition; Hammered Sold at $890,000 plus commission of 10.00%; Final Price $979,000 -- Chrome spoke Borranis, 185VR15 Dunlop tires, Marchal headlights and fog lights. Good paint, chrome and interior. Serious overspray inside right front wheel well but nowhere else suggests a partial repaint that is backed up by small prep flaws under the paint. Engine is nearly like new. Ferrari Classiche certified, FCA Platinum award winner with period racing history in the 1964 Targa Florio driven by Baldassare Taormina and Pasquale Tacci and a 14th place overall finish. 14th overall in the Targa Florio is an impressive result for a 'lusso' road car, and this is still an impressive Lusso let down only by the front fender repair. Its price here is at the curl of the wave, helped in no small part by its period racing history, a factor that adds $100-150,000 to its value.

1973 Ferrari 365 GTB-4 Daytona Spider

Lot # 267 1973 Ferrari 365 GTB/4 Daytona Spider, Body by Pininfarina; S/N 16705; Red/Tan leather, Black stripes; Estimate $900,000 - $1,100,000; Older restoration, 2- condition; Hammered Sold at $900,000 plus commission of 10.00%; Final Price $990,000 -- Chrome spoke Borrani wire wheels, 215/70VR15 Michelin XWX tires, A/C, Blaupunkt cassette stereo. U.S. spec version with painted nose panel, pop up lights and head rest seats. Good paint, chrome and interior. Perma-Tune ignition modules. An older restoration to like new condition with some years and miles. Reeks of gasoline. Originally Pino Verde with beige interior, same owner since 1988. As a real Daytona Spider, delivered in the U.S., it is hard to find fault with this car, particularly in its present condition. It ticks all the boxes, even the value box. It wouldn't have been out of line to see it sell for seven figures.

1962 Aston Martin DB4

Lot # 268 1962 Aston Martin DB4; S/N DB4/754/R; Goodwood Green/Red leather; Estimate $200,000 - $250,000; Modified for competition during restoration 3+ condition; Hammered Sold at $325,000 plus commission of 10.00%; Final Price $357,500 -- Lefthand drive conversion. Race prepared with triple 50DCO 1SP carbs on a 4.5 liter engine, Tremec 5-speed, stainless equal length headers and much more. Decent cosmetics, very orderly and impressively professionally prepared. The catalog describes $180,000 in competition preparation and modifications in the last ten years and it shows in the car. After stalling on the block the bidding intensified to reach this rather impressive conclusion, 30% over RM's high estimate. Its highest and best use will be on the track where it will be a standard-setter. It is expensive but to the right bidder (of which there were at least two at the Biltmore) it will bring full value.

1927 Isotta-Fraschini Tipo 8A Boattail Tourer Sala

Lot # 269 1927 Isotta-Fraschini Tipo 8A Boattail Tourer, Body by Sala; S/N 839; Lilac, Lavender fenders/Lavender leather; Lilac cloth top; Estimate $400,000 - $500,000; Concours restoration, 1- condition; Hammered Sold at $370,000 plus commission of 10.00%; Final Price $407,000 -- RHD. Jump seats, chrome wire wheels, rear mounted spare, Marchal lights. Engine-turned body top surface, four cowl ventilators, wide whitewalls. Very flamboyant older concours restoration done in the late 80's by Mike Fennel for the Blackhawk Museum. Displayed there and still in nearly show quality condition. Offered at The Auction in Las Vegas in 1991 with a bid of $185,000 and sold by RM at Amelia in 2007 for $390,500, this is still a breathtaking car. The flamboyant colors mark a period in restoration history that may be past but still highlight the lines and performance of Isotta-Fraschini's finest product. This price is modest, but not inappropriate for a somewhat shopworn Isotta.

1903 Cadillac Rear-Entry Tonneau for sale

Lot # 276 1903 Cadillac Model A Rear-Entrance Tonneau; Engine # 13; Red/Black leather; Tan cloth top; Estimate $150,000 - $250,000; Older restoration, 2- condition; Hammered Sold at $122,500 plus commission of 10.00%; Final Price $134,750 -- RHD. White tires, wicker pannier baskets. Good cosmetics. One of the oldest surviving Cadillacs. Long California history documented in Horseless Carriage Gazette in 2007. Quality restoration dating from the early 90's, AACA Grand Champion award winner. Showing a little age and no use. John M. O'Quinn Estate. Sold by Bonhams at Quail Lodge in 2007 for $337,000 and essentially in the same condition today, an important relic of the early American automobile. When dated by the VCC -- which in all probability given its long California history it will successfully achieve -- it will be a standout entrant in the London-Brighton Veteran Car Run. The combination of its history and its potential event entries makes it a very sound acquisition at this price. (Photo Credit: Darin Schnabel ©2011 Courtesy of RM Auctions)

1969 Lamborghini Islero S Coupe

Lot # 278 1969 Lamborghini Islero S Coupe, Body by Marazzi; S/N 6621; Red/Black leather, cloth; Estimate $115,000 - $140,000; Visually maintained, largely original, 3 condition; Hammered Sold at $100,000 plus commission of 10.00%; Final Price $110,000 -- Alloy wheels, Pirelli P4000 tires. Good repaint, major chrome and interior but thin trim chrome. Old undercoat on chassis. A marginal driver that is represented in the catalog as being thoroughly mechanically sorted and refined. A nearly forgotten variant of the 350/400GT with refined late 60';s coachwork design and all the appeal of Lamborghini's front-engined V-12 chassis, it promises to be a rewarding driver if it is as sorted as the catalog describes. The price appropriately reflects the model's obscurity and offers significant upside potential if the larger collector car community ever tumbles to its performance.

1930 Cord Front Drive L-29 Convertible Sedan

Lot # 279 1930 Cord Front Drive L-29 Convertible Sedan; S/N FDA3837; Light Grey/Burgundy leather; Beige cloth top; Estimate $185,000 - $225,000; Older restoration, 2- condition; Hammered Sold at $167,500 plus commission of 10.00%; Final Price $184,250 -- Dual sidemounts with mirrors, chrome wire wheels, wide whitewalls, luggage trunk, Pilot-Rays. Lalique Tete d'Aigle mascot included. A show quality restoration with a little age and some miles. Very attractive and subtle colors that complement the coachwork. Extensively cosmetically refreshed since it was sold by RM at Meadow Brook in 2006 for $192,500, with 2,058 more miles on its odometer. The miles show, but the car still gleams and exudes quality making it a very sound acquisition at this price.

1971 Maserati Ghibli Spyder

Lot # 280 1971 Maserati Ghibli Spyder, Body by Ghia; S/N AM115S1191; Red/Black leather; Black cloth top; Estimate $325,000 - $425,000; Cosmetic restoration, 3+ condition; Hammered Sold at $275,000 plus commission of 10.00%; Final Price $302,500 -- Chrome spoke Borrani wire wheels, Panasonic cassette stereo, P/W, P/S. 28,812 miles from new, one owner from 1978-2008. Good repaint, interior, chrome and glass. Puffy doors don't fit flush. Scruffy unrestored chassis. Orderly engine has been out and done but the opportunity to do the engine compartment to the same level was passed and it got a quick redo with a spray gun of chassis black. No Reserve. An attractive (no, a beautiful) car with an unattractive presentation that is neither original nor restored, just in the indecisive middle ground where many problems lurk. It could be a fabulous driver, but more likely will turn out to be a troublesome and unsatisfying litany of issues. It sure looks pretty, though, and the Biltmore bidders paid full retail for the gorgeous Ghia lines. (Photo: RM Auctions)

1928 Stutz BB Coupe Corsica

Lot # 281 1928 Stutz BB Coupe, Body by Corsica; S/N BB12CBA29Y; Blue metallic/Black, blue; Estimate $225,000 - $285,000; Unrestored original, 3- condition; Not sold at Hammer bid of $150,000 -- RHD. 299/120bhp straight eight, 3-speed, black painted wire wheels, dual cowl lights, single driving light, 4-blade bumpers, finned rear deck. Loads of patina. Paint is crazed, cracked, and chipped throughout. All chrome trim shows at least some brass. Originally a Black Hawk Speedster, rebodied at some point by Corsica in the Thirties and later used by a circus promoter in Australia before coming to the U.S. in the 50's. Largely original except for a tired repaint. One look at the condition and style of this Stutz and it shouldn't matter. It has presence. The 'Safety Stutz" inspired owners and coachbuilders to create some of the most imaginative coachwork of the Thirties. The British created some of the best, as this Corsica coupe so graphically shows. This car's sketchy history awaits a more thorough exposition to complement its dramatic design and details. The Biltmore bidders missed an opportunity to secure a potential Pebble Beach entrant, even a class winner, at a modest price. (Photo: RM Auctions)

1967 Jaguar E-Type Series One 4.2 Roadster

Lot # 282 1967 Jaguar XKE SI 4.2 Roadster; S/N 1E13639; Engine # 7E10505-9; Silver/Black leather; Black cloth top; Estimate $120,000 - $140,000; Recent restoration, 2+ condition; Not sold at Hammer bid of $105,000 -- 4-speed, chrome wire wheels, covered headlamps, stainless steel exhaust. Excellent chrome and paint. Consistent panel gaps, detailed chassis. A quality Jag restored like new. Among Jaguar E-types, the 4.2 Liter Series I cars are perhaps the best balance of aesthetics and driving pleasure. They may not draw the same prices as the early flat-floor cars, but they do have the larger engine's torque, a synchromesh gearbox, more comfortable seats and retain the covered headlamps that help make Malcolm Sayer's brilliant design so pleasing and effective. This is a reasonable bid for a quality restored example.

1956 BMW-Isetta 300

Lot # 287 1956 BMW-Isetta 300; S/N 493880; Pastel Green/Pastel Green vinyl, cloth; Estimate $25,000 - $35,000; Recent restoration, 2+ condition; Hammered Sold at $32,500 plus commission of 10.00%; Final Price $35,750 -- Bubble window, headlight eye lashes, blackwall tires. Excellent paint, chrome and interior. Thoroughly restored and better than new. No Reserve. The caliber of Isetta 300 restorations has been steadily improving, as this example indicates, and it brought a price that is appropriate for its condition, rarity and high cute-factor without the hype that some Isettas inspire.

[Source: Rick Carey]

Comments

  1. Ronald Sieber says

    Rick:
    Once again you have submitted a great report on the prevailing auction landscape and the beasts that roam within it. Thanks for doing that.

    Many of us in the Porsche 356 world were blown away by the price of the Speedster as you reported. It will be interesting to see where their prices go if the Asian market (the people with all of our money) ever discovers that any Porsche collection of worth needs to have at least one 356 Speedster, even an example with only the ‘Normal’ engine. There are several great collections across that pond. Hmmm…

    • Rick Carey says

      Thanks for the compliment, which should also be extended to Ed Lenahan. Even as a newbie to this arcane field Ed did a marvelous job of helping me cover all the Arizona auctions.
      As to China, it’s a puzzle. Some prescient figures like Don Williams have been present in China since just after the doors started to crack open and I think they’ll lead the Chinese wealthy into the collecting world. If their view is influential it will be classics first. Classics are the safest sell to newcomers, and safety is still an important factor in Chinese investment. As an adviser you don’t want to raise your clients’ expectations early, and good early experiences are core to building a lasting car collecting culture.
      It’s an evolving story that has intriguing implications but, as we’ve seen again and again, the tides of international collecting ebb and flow. Remember all those cars that got vacuumed up into Japan in the early 90’s? Many if not most have come back to the U.S. and Europe. Russia was sopping up cars like bread soaking up gravy a few years ago; that trade has slackened dramatically. And Greeks bought cars, too. No more.
      Don’t put much faith in bubbles. It’s OK to take advantage of them, but be ready to cut and run at the first sign of unsustainable surface tension. At 1/3 of a million dollars the Speedster bubble is stretched very thin.

  2. Ken Smith says

    Rick – Once again many thanks for your auction coverage. I look forward to all of them and enjoy them very much. Great work!!

  3. says

    “The penultimate in 4-cylinder Healeys…” = the next to last, so my question is which one do you consider the best, or ultimate? I had a ’60 3000 I bought used and a ’62 ditto I bought new. Should have kept that one, of course..

  4. says

    Of the 59 Griffith 400’s built for the entire world has one ever been sold at an auction? It’s the only car that could beat Shelby AC Cobras! See the light blue one on 2011 Silverstone, Gentlemen Drivers, race on U-tube. Those 400’s were really race cars built for the streets. About 400 to 500 lbs. lighter than a Cobra and running the same 289 Cu. inch Ford Hi-Po engine. Also, it had unequal wishbone suspension all around with four shocks and springs in the rear.

    Jack A. Griffith is up in age, however, he did built a car that Shelby AC Cobras hate to see on the track. Take a look at the 2013 Old Timer Grand Prix and you’ll see the McInerney Griffith 400 catch and pass the fastest of the Cobras. It’s on U-tube.

  5. Rick Carey says

    Hi, Charles.
    There are two Griffiths in my auction data as follows:
    s/n 6000006A, the 273 Plymouth-powered prototype with automatic transmission reported sold at RM Amelia in 2004 for $28,600, offered at the Kruse Auburn Fall auction later that year with a high bid reported of $32,500 and sold by RM at Boca Raton in February 2005 for $27,820.
    s/n 2004000 with 289 Ford, dual quads and 4-speed which no-saled at the Rupp auction in Ft. Lauderdale in January 2008 with a reported high bid of $37,000, then at Mecum’s Monterey auction in 2009, cosmetically freshened and painted Re-sale Red, with a $60,000 reported high bid.
    I haven’t seen or heard of one at auction since, which is unfortunate but not surprising since Griffith owners have a high opinion of the cars’ significance and value that is canceled by the Griffiths’ obscurity and the lamentable fact that the car is to all outward appearances a re-engined TVR.

    • says

      Rick: Sources from England including the London Financial Times had an article to hold on to your Griffith if you owned one because they were highly sought after, especially the Series 400. One British car authority stated that an original Griftith 400 could be worth 200,000 pounds and that’s a lot of American dollars.

      So, why the price difference in the US? I believe my wife and I saw that Griffith 600 at Amelia Island in 2011. It had a heavy steel body with the Chrysler 273 cubic inch engine and was a poor handeling car. In Europe we haven’t seen that many Griffith 200’s in races. Jack Griffith announced in 1962/3 that with the Hi-po 289 a Griffith 200, and they made about 200 of them, could do 0 to 60 in 3.8 seconds! And that started the Griffith craze in the US.

      Did you have the opportunity to see the videos I recommended re. the McInerney Griffith 400 against some of the fastest Shelby AC Cobras in the continent. Maybe more Americans should view those videos. Those who do are astonished that an obscure mark of an automobile could beat Cobras, Corvettes, Porsche 904, 911’s, lightweight Jaguars as well as regular E Jaguars, Aston Martins, Ferrari’s, and swift Lotus Elans. Of course this is in the historical racing events for cars of the sixties (2011 Silverstone, Gentlemen Drivers, race and 2013 Old Timers Grand Prix; U-tube).

      Where are the 59 Griffith 400’s? One writer states that the sheiks have most of them in their collection. For after the London Financial Times wrote about the future value of the Griffith 400’s it seem, and as you stated, that one cannot find an original Griffith 400.

      My best,
      Charles

  6. Rick Carey says

    Charles,
    There’s a difference between hype and reality.
    The Financial Times, reputable resource though it may be for financial news, has bupkus credibility in the collector car market. “One writer states that the sheiks have most of them” is hardly credible.
    Let’s be clear. Griffiths are fast. They’re rare. They’re also obscure.
    They’re re-engined TVRs. “[P]rice difference in the US?” They are US cars, built for the US market. If American collectors and vintage racers don’t appreciate them, who does?
    Are you trying to create a legend for Griffiths with your persistence?
    Good luck.
    It isn’t going to happen.
    Does a Griffith represent good performance value compared with a 289 Cobra? Yes, but it isn’t ever, in my opinion, going to close the gap in value. Like Italias (which are actually pleasing to look at), Panteras and Isos, they’re blips on the graph of automotive history.
    Thanks for your observations.

    Rick

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