Worldwide Auctioneers Auburn 2012 – Auction Report Page Five
Lot # 109 1953 Woodill Wildfire Series II Roadster; S/N 99723; White, Black hood/Black leather; Estimate $110,000 – $140,000; Cosmetic restoration, 3 condition; Hammered Sold at $60,000 plus commission of 10.00%; Final Price $66,000 — Chrome wire wheels, whitewall turn, flathead V-8, Edelbrock intake with dual Stromberg 97 carbs, Edelbrock heads, mechanical SW tach, cheap woodrim steering wheel. Represented as a factory-built Woodill, the 23rd of 24 built and one of two Series II Wildfires. Decent paint, chrome and interior. Chassis is oily and a little grimy. An OK driver. There was a lot of interest in this Woodill, but little seems to have carried over to its bidding. The new owner got a real conversation piece for a very realistic price appropriate to its kit car origins but not if it’s a Woodill-built Wildfire.
Lot # 111 1957 Buick Century Caballero Estate Wagon; S/N 6D4032118; Red, White/Red, White leatherette; Estimate $90,000 – $110,000; Recent restoration, 2+ condition; Hammered Sold at $80,000 plus commission of 10.00%; Final Price $88,000 — 364/300hp, Dynaflow, WonderBar radio, P/S, P/B, factory A/C, chrome wire wheels, whitewalls. 4-door hardtop body. Excellent fresh paint, chrome and interior. Restored better than new. Impressively sleek, this is a Riviera with room for a month’s camping trip. For a family of five. The price is responsible, but there’s nothing to say it couldn’t bring more, either. It’s a real nice wagon.
Lot # 112 1937 Cadillac V-12 Series 85 Convertible Sedan; S/N 4130452; Green/Beige leather; Beige cloth top; Estimate $150,000 – $175,000; Older restoration, 1- condition; Hammered Sold at $115,909 plus commission of 10.00%; Final Price $127,500 — Large hubcaps, wide whitewalls, dual enclosed sidemounts, rollup division, radio, heater, rear clock. One of just 20 built in this body style on the V-12 chassis. 1996 CCCA Premier (#2011) with 100 points. Underbody should be cleaned up but the top of the car is still show quality. Bid to $120,000 on the block and closed later at this all-in price. A big, imposing, elegant and luxurious Cadillac that has received the restoration it deserved and then been maintained in nearly show quality condition. It is all the car this much money could buy, a standout on the show field or on tour.
Lot # 113 1956 Jaguar XK 140 Roadster; S/N S812251DN; Engine # G7276-8; Arbor Green/Camel leather; Beige cloth top; Estimate $120,000 – $140,000; Recent restoration, 2- condition; Not sold at Hammer bid of $88,000 — Moto-Lita 4-spoke woodrim steering wheel, chrome wire wheels, whitewall tires, fender mirrors, Lucas fog lights, C-type cam covers disc brakes added. G7276-8 on head and block, no discernable C cast on head. Very nicely restored to like new condition in an attractive and unusual color. Very little use or age. Sold earlier this year at Russo and Steele in Scottsdale for $104,500.
Lot # 115 1932 Auburn 12-160A Boattail Speedster; S/N 2793E; Black, Orange/Black leather; Estimate $360,000 – $420,000; Concours restoration, 1- condition; Not sold at Hammer bid of $275,000 — Free-wheeling, Bijur chassis lubrication, Dual Ratio, ride control, Startix, Woodlite headlights, dual sidemounts with mirrors. A magnificent older restoration with an original Auburn boattail body from an eight on an ACD certified 12-160 chassis and engine. CCCA Senior #2450. Displayed at the ACD Museum. Great colors, too. Needs absolutely nothing. This Auburn has been around a while, selling at RM in Novi in 2002 for $159,000, then at the Kruse Boca Raton sale in 2009 for $594,000 (?) and at Worldwide’s Atlantic City auction in 2011 for a more reasonable $280,500. The body swap is a detriment, but honestly not as much as the Auburn Auction bidders were trying to impose on it. It should bring $300K.
Lot # 116 1966 Austin-Healey 3000 Mk III Phase 2 Convertible; S/N HBJ8L32168; OE White, Blue/Blue leatherette, Ivory inserts; Black leatherette top; Estimate $55,000 – $65,000; Older restoration, 3+ condition; Hammered Sold at $34,500 plus commission of 10.00%; Final Price $37,950 — Silver painted wire wheels, blackwall Radial T/A tires, overdrive, no radio. Good cosmetics, solid body, attractive and unusual colors. Weak windshield frame chrome. Doors don’t close flush. No Reserve. A competent Big Healey restorer could turn this car into a $70-80K winner with minimal effort. It’s a good value at this price.
Lot # 117 1930 Lincoln Model L Dual Cowl Phaeton, Body by Locke; S/N 65674; Light Blue, Silver, Black fenders/Brown leather; Beige cloth top; Estimate $110,000 – $130,000; Cosmetic restoration, 3 condition; Not sold at Hammer bid of $86,000 — Silver wire wheels, whitewalls, dual windshields, windwings, dual enclosed sidemounts with mirrors, Beige cloth covered trunk on rack, turn signals, Pilot-Rays. Blistering paint, some poor chrome but most is very good. Oily, grimy chassis. Very cool cigar receptacle on the brake lever. Tired and aged. Aged and in unattractive colors, this Lincoln has potential but only to someone who wants to drive it or take it apart and give it the restoration is needs. The reported bid here was fair for a car that sold at RM Monterey in 2007 for $93,500 and RM Hershey in 2009 for $82,500.
Lot # 118 1955 Mercedes-Benz 190SL Roadster; S/N 1210425500760; Ivory/Red leather; Black cloth top; Estimate $80,000 – $100,000; Visually maintained, largely original, 3 condition; Not sold at Hammer bid of $67,000 — Body color wheels with no trim rings, no radio, 40DCOE 18 Weber carbs, Silvertown radial whitewall tires. Two family owned from new. Fresh new paint over solid bodywork. Superficially redone underhood. Thin trim chrome. Cracked steering wheel. A disappointing, superficially redone 190SL that should have been loose and selling way before it reached the reported high bid. The important fact about this 190SL, though, is that it is one of the first built, with many features not carried over into later production. It looks plain, and it is, but that’s the point.
Lot # 119 1970 Pontiac GTO 2-Dr. Hardtop; S/N 242370B121796; Engine # 121796 WT; Metallic Blue/Dark Blue vinyl; Estimate $55,000 – $65,000; Cosmetic restoration, 3+ condition; Hammered Sold at $27,000 plus commission of 10.00%; Final Price $29,700 — 400/330hp, 4-speed, P/S, no P/B, A/C, pushbutton radio, seatbelts, Hurst T-handle shifter, Rally II wheels, hood tach, wing. Presentable repaint over old paint and some chips. Old undercoat on chassis and underbody. Microblistered paint. A decent driver at 10 feet documented by build sheets and the original Protect-o-Plate. Offered at Mecum’s Indianapolis sale last year where this GTO attracted a high bid of only $24,500, it brought a more realistic price here in Auburn. For a well–equipped 4-speed GTO with air this is an advantageous purchase. With some detailing and attention to the paint blisters it could be worth more but as it is it will be a fine weekend driver good for many enjoyable summers before needing further attention. It is a good value at this price.
Lot # 122 1957 Dodge D100 Sweptside Pickup; S/N 84295081; Ivory, Salmon/White, Salmon vinyl; Estimate $75,000 – $100,000; Recent restoration, 2+ condition; Hammered Sold at $58,000 plus commission of 10.00%; Final Price $63,800 — Pushbutton automatic, wraparound rear window, turn signals, wheel covers, whitewalls, black painted wood bed floor. Freshly restored to showroom condition with excellent paint, chrome and interior. Sold at Mecum’s Indy auction two years ago for $57,240, this is still a show-quality restoration of a sleek and desirable limited production pickup. There are a lot of bragging rights in owning this Sweptside and in these colors it’ll never get lost on a show field or in a parking lot. This is an appropriate price for it, despite the optimistic estimate range.
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.