Worldwide Auctioneers Auburn 2012 – Auction Report Page Three
Lot # 24 1999 Ford Thunderbird Prototype; S/N; Black/Red leather; Estimate $110,000 – $140,000; Unrestored original, 2- condition; Not sold at Hammer bid of $70,000 — One of two surviving new T-bird prototypes, Ford has the other. This one is unique: 1″ longer wheelbase, 10mm lower roof, sleeker (plexiglas) windshield, unique color combination (so far). 4.6 V-8, automatic, fiberglass body, no windows, porthole hardtop only, chromed plastic wheel covers. In nearly show quality condition. Good paint, chrome and very good interior. Runs and drives but governed to 15mph. Sold by Christie’s in Dearborn in 2002 for $103,400, an essentially unique piece of Ford and Thunderbird history as well as a unusual running design model conceived to demonstrate in three dimensions the ultimate design choices in the New Thunderbird. This bid is a good try, but short of realistic in many ways.
Lot # 26 1966 Shelby Mustang GT350H Fastback; S/N SFM6S1961; Black, Gold stripes/Black vinyl; Estimate $130,000 – $160,000; Customized restoration, 1- condition; Hammered Sold at $115,000 plus commission of 10.00%; Final Price $126,500 — Show car prep with Inglese intake and 4 Webers, automatic, 5-spoke alloy wheels. All gold and chrome plated underhood. Astounding and nearly spotless. Represented as numbers-matching with its original body panels. It’s hard to imagine what the builder of this show car was thinking. Yes, it’s won multiple ISCA awards, but it is a high quality GT350H, worth so much more in its original configuration than in show car glitz. It’s likely the bidders here in Auburn were looking at the potential to turn it back into original configuration with this price. On the other hand, this is a lot more than the no-sale bid it brought at Branson Fall in 2001: $54,000.
Lot # 27 1930 Ford Model A Five-Window Coupe; S/N A3471848; Brown, Black fenders/Beige cloth; Estimate $20,000 – $30,000; Older restoration, 3- condition; Hammered Sold at $10,500 plus commission of 10.00%; Final Price $11,550 — Red wire wheels, trim rings, whitewalls, rear-mounted spare, rumble seat, quail, radiator stoneguard, cowl lights. Clearcoat starting to buff through, sound chrome and interior. A sound and usable old restoration showing age and in need of renovation. No Reserve. Driver-quality Model A money for a driver-quality Model A.
Lot # 28 1956 Ford Mainline 2-Dr. Sedan; S/N U6PG157317; Light Green, White roof and accent/Grey vinyl; Estimate $35,000 – $45,000; Unrestored original, 2 condition; Hammered Sold at $15,000 plus commission of 10.00%; Final Price $16,500 — 272/176hp, automatic, heater, no radio. All original with just 13,854 miles and better than any restoration. Sound original paint, chrome and interior. New tires and exhaust system. Ford’s utility, price-leader, model, the Mainline is devoid of flash, glitz and flair. Usually driven into the ground by the first three or four owners somehow this Mainline never suffered the ignominious fate of its siblings and has survived in nearly pristine condition 56 years, over a half-century, later. Amazing. But it’s a boring car and it is impossible to argue with the bidders’ decision to offer relatively boring money for it.
Lot # 33 1934 Ford Sedan Delivery; S/N 18532565; Orange/Black; Estimate $40,000 – $50,000; Older restoration, 2- condition; Hammered Sold at $48,000 plus commission of 10.00%; Final Price $52,800 — Single sidemount, black wire wheels, wide whitewalls, opening windshield, chrome headlight shells, passenger seat, side hinged rear door with rollup window. Excellent paint, chrome and interior. Sharp and clean, not fresh, but seriously eye-catching. Liveried for an excavating contractor in Kitchener, Ontario, this Ford must have highlighted their name when it appeared. The bright orange paint is, well, eye-catching even if it isn’t period correct. The condition is essentially above reproach and it is going to serve some new owner as a marquee for quality and visibility, a sound value even at this price.
Lot # 34 2004 Ford GT Factory Test Mule; S/N 1FAFP90S64Y400007; Black/Black leather; Estimate -; Unrestored original, 3 condition; Hammered Sold at $197,500 plus commission of 10.00%; Final Price $217,250 — One of Ford’s pre-production development prototypes extensively instrumented and driven in suspension, chassis and brake development. No airbags and limited NVH suppression. Signed by 15 project engineers, still has Velcro pads for mounting instruments. Driven 200+mph during testing. Definitely used but very cool. Titled but ‘not street legal.’ Proceeds to National Automotive and Truck Museum of the US. The buyer of this Ford GT got serious bragging rights at any Ford gathering and a track day toy that will be way more fun than some pristine GT. With stone chips and road gunty on it as well as a well-worn interior, it is ripe for more. Bought right.
Lot # 37 1932 Ford Model B Deluxe Roadster; S/N B5019575; Brewster Green, Black fenders Olive accent/Olive leather; Beige cloth top; Estimate $70,000 – $90,000; Recent restoration, 2- condition; Not sold at Hammer bid of $50,000 — Olive wire wheels, whitewalls, dual chrome banded sidemounts, wind wings, side curtains, rumble seat, trunk rack, tools and manuals. Restored like new with excellent paint, chrome, interior, top and glass. A four-time Dearborn Award winner, it shows a little age and some careful use but is still an outstanding example. Fully dressed as few 4-cylinder Model Bs are (or ever were), this is a supremely rare example of Henry’s hedge that his beloved four would be preferred to the flawed but powerful flathead V-8. Henry was wrong, as were the Auburn Auction bidders who didn’t give this Deluxe Model B Roadster more credibility and value.
Lot # 38 1932 Ford Coupe 3-Window Hot Rod; S/N NM15001036; Dark Maroon/Black leather; Estimate $80,000 – $90,000; Customized restoration, 1- condition; Hammered Sold at $46,000 plus commission of 10.00%; Final Price $50,600 — Front disc, rear drum brakes, Chevy 350, Edelbrock 3×2 intake, chrome wheels and suspension, alternator, automatic. Steel body, chopped, channeled and lowered on a Pete and Jake’s frame. Great paint, chrome and interior. Not fresh but clean, sharp and tidy. A Gas Monkey Garage TV car. Replacement lot for the cataloged 1964 Mercury Marauder 2-Dr. Hardtop. Gas Monkey’s Rick Rawlings and Aaron Kaufmann bring their own vibe to Worldwide auctions, a flamboyant contrast to the Packard and Auburn collectors. And they almost always sell their creations — some of the very good like this Deuce Coupe and some of them, well, strange. It’s a theatrical, TV, moment but the buyer of this Deuce got plenty of value for a decidedly modest price. It’ll be interesting to see how Rick spins it on ‘Fast and Loud’.
Lot # 39 2001 Lincoln MK IX Concept Car Coupe; S/N 779254; Black/Dark Cherry, Marlboro Red leather; Unrestored original, 3+ condition; Hammered Sold at $58,000 plus commission of 10.00%; Final Price $63,800 — 2001 New York Auto Show concept car with 4.6 V-8, paddle shift automatic, 22 inch wheels and a fiberglass body with wavy fenders. Town Car chassis. Runs and drives but is not street legal. This Concept stands out not only for its subtly elegant presentation but also for a number of innovative exterior and interior features and not least because it actually works. The Auburn Auction bidders set the price.
About Rick Carey
Rick, I’d like to suggest a change in the format for your reports. It is jarring to me to be reading your narrative and see the name of the collector or collection selling the car stuck haphazardly in the middle of it. Why don’t you put it up front, in the basic description of the vehicle – maybe just after its year and description?
Also, do you HAVE to go through all the machinations of how the bidding went and how much the commission was? It matters not to me whether the commission was 12% or 15% – just the sale price.
Thomas,
Cogent observations and suggestions. Long answer follows.
The auction reports are contained in a database which has two narrative elements: Notes where the cars are described and Comments where the observations on the transaction itself go. They are merged in the final report you read on SCD.
I’ve always dropped the collection identity and when applicable ‘No Reserve’ in at the end of the Notes where they finish off the facts before getting to the subjective observations.
In fact, you’re right, though, they really relate to the transaction data at the beginning of the report.
Point well taken, and I’ll endeavor to implement it.
As to the transaction details (hammer bid, commission, final price) we differ.
I think the details, the hammer bid, the transaction results like hammered sold on the block, post-block sale, charity transaction and several more — including the dreaded ‘No bidding interest shown’ — and the buyer’s commission paid are important to presenting the transaction in context.
My feeling, and the point of view I’ve taken in the auction reports, is that the hammer bid relates to what the buyers think the car is worth. The commission paid is part of the buyer’s process costs, like transportation home, related taxes, the cost of travel to the auction, etc. It’s no different than hitting five stores (including gas and time) or canvassing websites for an hour in search of an object that is both right and at a price that makes sense. Or paying a broker, agent or inspector to find, vet and inspect a car before it is bought. The process costs, in this case the commission paid, is relevant, but not the only element in the buyer’s process.
Furthermore, if you’re a prospective buyer, telling you a car sold for, say, $117,000 by itself might lead you to conclude that’s where the bidding stopped. Not knowing the commission would obscure the information that the successful bidder in fact stopped at $100K at a Bonhams sale, $106,400 at RM or Gooding, or $110,400 at Mecum.
In other words, both numbers — hammer bid and final price including commission — are relevant. It’s why the summary numbers in SCD auction reports reflect lots sold for hammer bids under low estimate and over high estimate, not the final, commission-included, amounts.
In this presentation format, if hammer bid and commission don’t matter to you, you can ignore it. The data is there for either point of view and I’ll continue to present it that way.
Thanks for opening my eyes on the first point, and giving me an opportunity to elaborate on the second one.
You’re welcome, Rick.
I did not mean to imply that I’m the only one interested in the price and circumstances surrounding the auction of the vehicle. However, I think that those who are – whether first timers or grizzled old pros – understand the mechanics of the auction, and the fact that a buyer will pay a commission. So, spelling it out is fine, but may be a bit of overkill? As to the process of the bidding, and your comments concerning the proces (no interest shown, not sold, etc.), they must be in your report, and we don’t differ on that one iota – or farthing, depending on your location.
I will continue to read the reports for your concise analysis and commentary – plus the occasional dash of humour, which is reflected also in your response!
Thanks for doing the job you do so well.