Report and photos by Rick Carey
RM Auctions, Inn at St. John’s, Plymouth, Michigan, July 30, 2011
Meadow Brook is gone, replaced by the Concours America at the Inn at St. John’s in Plymouth, Michigan.
Located barely 20 minutes from Detroit Metro Airport, between Livonia and Ann Arbor, the periphery of Plymouth, Michigan suffers some of the ‘closed auto plant’ blight of the Detroit area but more than makes up for it with carefully maintained homes, tree-lined avenues and a walking-centered downtown clustered around a village green with sidewalk dining and more ice cream shops than the Coney Island boardwalk.
Situated just off the main Livonia-Ann Arbor road, the Inn at St. John’s has evolved from a 1940’s seminary and still provides retreat and spiritual services to the Detroit Archdiocese although the seminary closed in 1988. Redevelopment began in 1998 and has proceeded into 2006 with the opening of a 118-room boutique hotel and conference center where the Concours d’Elegance of America is now established on the Inn’s 27-hole golf course.
I don’t know the politics and business plans that ended Meadow Brook, but the Inn at St. John’s is easily accessible, tightly-wrapped and impressively maintained.
RM followed the concours here (or led the concours here?) with a modest 70-car consignment calculated to maximize interest while minimizing the operational risks of conducting an auction at a new venue with just one access portal to the auction block in the Inn at St. John’s unfortunately-named Grande Ballroom. Starting at 11 AM (or thereabouts), the auction wound up about 3 PM leaving more than enough time to get ready for the Concours dinner, and room for RM to add cars to next year’s consignment without falling all over themselves.
Pre-auction viewing was constrained to a parking area outside the ballroom and some adjacent lawn, but there are nearby parking areas that will easily absorb – with less crowding – 50% or more auction cars in coming years. The pre-sale party food was good and ample (as RM’s first-year sales are prone to be.) Downtown Plymouth is only a two mile drive where I found good spaghetti Bolognese and Pinot Noir at Compari’s for barely expensive (the spaghetti was just $11.95, but it was only side order size.)
Oh, yeah, the numbers. RM sold 60 of the 70 cars offered, 85.7% for a total of $7,646,700, an average of $127,445 and a median of $66,000. 30 of the 60 cars sold hammered at less than the low estimate (50%) and only two over their high estimates (3.3%). Total bids on sold cars were $6,951,646 against their low estimates of $7,175,500, 96.9% of estimate.
In RM’s last year at Meadow Brook in 2010 they sold 85 of 99 cars offered, 85.9% for a total of $10,173,850 with an average transaction of $119,692 and a median of $60,500. 53 of the 85 cars sold hammered at less than the low estimate (62.4%) and eight sold over their high estimates (9.4%). Total bids on sold cars were $9,248,955 against their low estimates of $8,920,000, 103.7% of estimate.
No matter what else it means, RM Auctions conclusively demonstrated its command of the market, astutely consigning, reserving and representing a wide variety of cars in a new and untried venue and delivering impressively consistent results.
It will take a few years to become familiar with Plymouth and its surroundings but the initial impression is that the quest will be rewarding.
RM Auctions Concours of America at St. John’s 2011 – Auction Report
(See Reference – Auctions Explained, A Note on Conditions and Character).
Lot # 101 1976 Cadillac Fleetwood Sixty Special Brougham; S/N 6B69S6Q180891; Metallic Grey; Grey vinyl roof/Grey cloth; Estimate $8,000 - $12,000; Unrestored original, 3+ condition; Hammered Sold at $8,000 plus commission of 10.00%; Final Price $8,800 -- All original and in remarkably well preserved condition with 49,350 miles. One owner from new. No Reserve. Desirable only for its originality and preservation but still pretty remarkable. Max Girardo struggled to get the bidding started on this no reserve Cadillac but eventually cajoled the bidders into reaching the low estimate. A marvelous example of GM’s 70’s flight to mediocrity, it’s hard to imagine why anyone wants this boat, even as well preserved and original as it is, let alone to the tune of eight large.
Lot # 102 1974 Triumph TR6 Convertible; S/N CF16022U; Pimiento Red/Black leatherette; Black top; Estimate $20,000 - $30,000; Recent restoration, 3+ condition; Hammered Sold at $16,000 plus commission of 10.00%; Final Price $17,600 -- Steel wheels, trim rings, red line Michelin radials. Thoughtfully restored to good driving condition, documented with BMIHT certificate, tools and manuals. No Reserve. Offered at Mecum's Indy sale in May with a reported bid of $17,000, the result here is appropriate for this car and its sound and presentable condition.
Lot # 103 1969 MG C GT Coupe; S/N GCD1U8178G; Black/Black leatherette; Estimate $25,000 - $35,000; Older restoration, 2- condition; Hammered Sold at $27,000 plus commission of 10.00%; Final Price $29,700 -- Chrome wire wheels, blackwall tires. Very glossy paint both on top and under the car. Good panel fits and generally impressive bodywork. A surprisingly well restored MG C in very attractive condition if a bit over-restored. No Reserve. Sold by RM at Amelia in 2007 for $22,000, this MG C attracted a lot of attention here at St. John’s, attention its very attractive condition warranted but this is by any standard a generous price.
Lot # 110 1958 Oldsmobile 88 Holiday Fiesta Station Wagon; S/N 587K14453; Red/Red, White vinyl; Estimate $40,000 - $60,000; Older restoration, 3- condition; Hammered Sold at $47,500 plus commission of 10.00%; Final Price $52,250 -- 371/312hp J-2 engine with three deuces, 3-speed, limited slip axle, A/C, P/S, P/B, Transportable radio, steel wheels, hubcaps, whitewalls, 3-row seating, power bench seat, skirts, windshield visor. Restored in 1990 and judged 980 points in Oldsmobile Club judging in 1991. Erratic bodywork fits, edge chipped panels, good but used interior, grungy chassis. Engine is dirty and missing its air cleaner. Don Kizziar Estate. No Reserve. This Olds is one of the best tow cars in the world. In an historic race paddock it will attract as much attention as pretty much any race car. It needs a lot of attention but will reward its new owner with a nearly unique experience. It brought a healthy price appropriate to its equipment even considering the work it needs.
Lot # 111 1953 Oldsmobile 98 Convertible; S/N 539M44930; Red/Dark Red, White vinyl; Black cloth top; Estimate $50,000 - $70,000; Older restoration, 3+ condition; Hammered Sold at $37,500 plus commission of 10.00%; Final Price $41,250 -- Dual quads on an HRE aftermarket manifold, Dynaflow automatic, wire wheel covers, blackwall tires, headers, dual exhausts, Autronic Eye, P/S, P/W, WonderBar radio, power bench seat. Sound but uninspired paint and interior. Tidy but aged engine compartment and underbody. A sound and unusual Olds with a great exhaust note. Don Kizziar Estate. No Reserve. A period hot rod with some unusual attributes as well as driver assists like P/S and P/B that make it particularly adaptable for fair weather touring, this Olds could have brought more on account of its equipment, but that value is appropriately handicapped by its mediocre presentation, leaving the buyer with some upside potential to compensate for the time and effort it will absorb in reaching its potential.
Lot # 113 1937 Cord 812 Supercharged Beverly Sedan; S/N 32157S; Engine # FC2936; Cadet Grey/Indigo cloth; Estimate $70,000 - $90,000; Non-factory replica, 2- condition; Hammered Sold at $60,000 plus commission of 10.00%; Final Price $66,000 -- Fog lights, wide whitewalls, large hubcaps. Restored in the mid-80's and still in nearly showroom condition with only a few minor paint cracks and blemishes. Clean engine compartment and chassis are almost showroom fresh and look like they could have been done a year or two ago. Don Kizziar Estate. No Reserve. The survival of this Cord in such well preserved and nearly as-restored condition attests to the quality of its workmanship and materials and is much better than many of the Kizziar cars offered today. The bustle-back body isn't especially attractive or desirable but the supercharged engine is. This is a very good example and it brought a very good price.
Lot # 114 1930 Cadillac 452 V-16 Madame X Club Sedan, Body by Fleetwood; S/N 72705; Yellow, Black fenders and roof/Tan cord; Estimate $80,000 - $120,000; Older restoration, 3+ condition; Hammered Sold at $135,000 plus commission of 10.00%; Final Price $148,500 -- Orange wire wheels with stainless spokes, wide whitewalls, dual sidemounts with strap-on mirrors, radio, radiator stoneguard, Pilot-Rays, windshield visor. Restored in 1992 in vivid colors and featured in Car Collector and on the cover of Cars and Parts even before it was restored. Decent paint with some checking and minor cracks, sound major chrome with some weak trim bits. Good upholstery and interior trim. Don Kizziar Estate. No Reserve. A classy Cadillac with a quality restoration, this is attractive bodywork for a sedan. It caught the bidders' attention and brought a strong price for a closed car. With these brilliant colors it would be impossible not to attract notice.
Lot # 115 1957 Ford Fairlane 500 2-Dr. Hardtop; S/N F7FV306382; White/White vinyl, Blue cloth; Estimate $90,000 - $120,000; Unrestored original, 3+ condition; Hammered Sold at $65,000 plus commission of 10.00%; Final Price $71,500 -- 312/300hp supercharged V-8, overdrive three-speed, pushbutton radio, heater, wheel covers, blackwall bias ply tires. Entirely original except for a good quality old repaint and front seat reupholstery. Two owners from new. Paint, chrome and interior are all sound and presentable. Engine is clean and unrestored. The 86K miles on the odometer are probably real. A real find and a pretty special car documented with the original factory invoice, Texas title and supercharger and owner's manuals plus an audio interview with the original owner. Don Kizziar Estate. No Reserve. There is a moonshine runner story waiting to be invented for this Ford, but even without it the new owner got a pretty wonderful piece of Ford history in exceptionally original and unspoiled condition. It brought a deserved premium price for its originality even though the pre-sale estimate is hopelessly optimistic.
Lot # 117 1953 Cadillac Eldorado Convertible; S/N 536275127; Red/Red, White leather; Black top; Estimate $135,000 - $175,000; Older restoration, 3+ condition; Hammered Sold at $135,000 plus commission of 10.00%; Final Price $148,500 -- Chrome wire wheels, whitewalls, Autronic Eye, P/W, WonderBar radio, P/S, P/B, etc. Restored in 1992 but not fairing particularly well since then. Erratic door fits, disappointing engine compartment. Decent paint. Some failing chrome trim. Not as good as it could have been even after 19 years. Don Kizziar Estate. No Reserve. Bought appropriately for its condition and rarity.
Lot # 118 1953 Oldsmobile Fiesta Convertible; S/N 539M41972; Pearl White, Agate Red/White, Red leather; Estimate $140,000 - $180,000; Older restoration, 3+ condition; Hammered Sold at $130,000 plus commission of 10.00%; Final Price $143,000 -- Spinner wheel covers, whitewalls, P/W, P/S, P/B, automatic, radio. Restored in 1990 and judged 999 points in Oldsmobile Club competition. Shows some age and light soiling but little use. Driver's seat lightly stretched. Good paint and chrome. Very good engine compartment. Not fresh but could be without much effort. Don Kizziar Estate. No Reserve. Bought right and with some room for improvement after some attention to reverse the effects of long storage.
Lot # 119 1920 Pierce-Arrow Model 32 4-Dr. Sedan; S/N 321946; Olive Green, Black fenders and roof/Beige cloth; Estimate $50,000 - $75,000; Older restoration, 2- condition; Hammered Sold at $55,000 plus commission of 10.00%; Final Price $60,500 -- Varnished wood spoke wheels, whitewall tires, glass windshield visor, dual sidemounts, jump seats, smoker's kit, footrest, trunk rack, rear seat heater, pulldown rear and quarter window shades. Restored in the early 80's and little used since with sound paint only sparsely stress cracked, good interior and nickel trim. Body panels fit well. Restored to like new condition and holding up very well. No Reserve. With power from a 414 cubic inch T-head six this Pierce-Arrow is a prime example of the quality, luxury and solid performance of one of early American auto manufacturers' best marques. The bodywork isn't going to set any records for style and flair but is large, comfortable and superbly equipped, Pierce's strong points. One of the period's best, this price is appropriate for the closed body and 32hp drivetrain.
Lot # 121 1933 Cadillac 452-C V-16 Limousine, Body by Fleetwood; S/N 5000066; Black/Tan cloth; Estimate $130,000 - $160,000; Unrestored original, 3+ condition; Hammered Sold at $145,000 plus commission of 10.00%; Final Price $159,500 -- Dual enclosed sidemounts with mirrors, wide whitewalls, 4-blade bumpers, concentric cone horns, jump seats, front fender teardrops with chrome crests. Largely original including paint and interior and delightfully preserved. This Cadillac was good enough that to be shown in 2003 at Pebble Beach. Not much more needs to be said. Lyle Reiswig Collection. No Reserve. This is quite a piece of history, not mention being one of America's great classic automobiles. Its coachwork belies its size with elegance and balance and the combination of Cadillac V-16, Fleetwood coachwork and originality add up to a sound buy at this price.
Lot # 122 1930 Packard 734 Replica Speedster Runabout; S/N 184089; Red, Dark Red fenders and accent/Tan leather; Estimate $175,000 - $225,000; Rebodied or re-created, 2+ condition; Post-block sale at $170,000 plus commission of 10.00%; Final Price $187,000 -- Chrome wire wheels, wide whitewalls, dual sidemounts with fender-color rings, Trippe lights, three-speed. Concours restored using some original Packard 734 parts and an accurately built body and barely used, it is still in show car condition. John O'Quinn estate. Sold by RM at Meadow Brook in 2005 for $211,750 to John O'Quinn paying a generous hammer price $15,500 over the low estimate which was the same then as it is now. This car didn't reach reserve on the block but was put together within a few minutes. The new owner will enjoy a pleasant driving experience along with the comfort that comes from knowing that if something breaks or is damaged it's repairable without damaging the car's value. This is an appropriate price for this 734.
Lot # 123 1953 Packard Caribbean Convertible; S/N 26782691; Polaris Blue/White, Blue leather; White vinyl top; Estimate $90,000 - $120,000; Older restoration, 3+ condition; Hammered Sold at $85,000 plus commission of 10.00%; Final Price $93,500 -- Chrome wire wheels, wide whitewalls, Ultramatic, dual remote spotlights with mirrors, continental kit, WonderBar radio, P/S, P/B. Ex-Milton Robson. Good paint, chrome and interior. Freshly detailed, new carpets and tires. A sound and attractive Caribbean. Reported sold at Barrett-Jackson in 2009 for $90,200 with some cosmetic attention since then, work that is reflected in its price here.
Lot # 124 1957 MG A Coupe; S/N CM604889; White/Green; Estimate $20,000 - $30,000; Older restoration, 2- condition; Hammered Sold at $20,000 plus commission of 10.00%; Final Price $22,000 -- Minilite wheels with centerlock hubs. Very nicely done with quality paint, chrome and interior. Shows little use or age since restoration six years ago, even on the chassis and underbody. No Reserve. A handsomely presented little car, and more rare than a roadster, the seller got top dollar for a top condition MG A.
Lot # 125 1957 Chevrolet Corvette FI Convertible; S/N E575104676; Aztec Copper, White coves/Beige vinyl; Beige vinyl top; Estimate $150,000 - $200,000; Recent restoration, 2 condition; Not sold at Hammer bid of $135,000 -- 283/283hp fuel injection, 4-speed, radio and heater delete, spinner wheel covers with whitewall tires. Correct EL code engine block stamping. Freshly restored, clean and proper with good paint, chrome and interior. Described as the original engine. Chassis number is late enough for the 4-speed to be original equipment but the supposedly Aztec Copper color is an odd hue, more pink than copper. The bid is a little light for this car's condition and specifications and was understandably not accepted by the seller. The color choice is odd and may have discouraged bidding.
RM Auctions Concours of America at St. John’s 2011 – Auction Report Continued
About Rick Carey
“Located barely 20 minutes etc.” Probably one of the best written paragraphs ever in this industry specific discipline.
Nice one Rick ( as ever ) but lose the ” final price ” thing , we can all ad 10 %
That’s all well and good when it’s just 10%, or even 6% (most of the time) at a Mecum sale, but if you look at the Goodwood Festival report (commission of 15% of the first £30,000 and 10% over) you’ll see the effective commission rates come out at some very odd amounts: 11.67%, 14.55%, 12.94%, etc. Since they’re based on Pounds Sterling at various exchange rates depending upon the date of the sale it is even more complicated to figure. The calculations are built into the database, so we present the simple ones along with the more complicated ones.