The RM Sotheby’s auction is an integral component of the Hershey experience, and RM’s own website lists it as “The Official Auction of the Eastern Division AACA National Fall Meet”. It’s always held at the Hershey Lodge, which is where I stayed this year, making my access to the cars super convenient.

The two-day auction was conducted on Wednesday and Thursday, October 9 and 10, and 100% of the vehicles were arranged on the hotel’s grounds, allowing free access to the public during the preview. By my estimation, at least half of the lots were pre-war American classics, a category in which RM specializes. Perusing the information labels on each lot also showed that many of the cars were to be offered without reserve, guaranteeing an exciting auction.

Two collections were of special interest to me. A fellow AACA member informed me that his brother-in-law was selling his collection of FoMoCo woodies, all at no reserve. (It was from this friend that I was able to procure passes to attend the auction.) There were 10 vehicles, 9 Fords and 1 Mercury, ranging in model years from 1933 through 1951. In this post I’m covering 8 of the 10, omitting the 2 resto-modded models.

The second, more modest collection was the final 3 vehicles from the estate of Dennis Nash. Dennis and his wife Ann Marie were long-term colleagues of mine from Volvo Cars of North America, and because of their deep interest in the hobby, were also dear friends. (It was Dennis who recommended me to the body shop which restored my Isetta.) Both Dennis and Ann Marie have passed on, and their 3 daughters were in attendance to watch their dad’s Jaguar, Morgan, and Volvo cross the block at no reserve. (The Jag and Volvo are discussed in more detail below.)
I sometimes forget how civilized and “professional” a so-called catalog auction as run by RM can be, compared to the 3-ring circus which is Mecum or Carlisle. The auctioneer enunciates every word, and there is never any doubt where the current bid is and what bid he seeks to acquire next. I recorded results for 86 cars on Wednesday and 50 on Thursday. Each day’s event took about two and a half hours to complete, and the time flew by. By contrast, at Mecum I’ve sometimes waited over 3 hours just to see a car of interest to me reach the block. Of course, Mecum is pushing quantity while one could argue that RM is pushing quality. Each has its place in the hobby.

As stated earlier, most of the lots sold at no reserve. Of the cars I watched, only two failed to sell, which speaks highly to the talents of the team at RM Sotheby’s to bring together the vehicles, owners, and prospective bidders to make this happen. Below are some details of the cars which I found interesting. The 8 woodies (in model year order) are listed first, followed by the remaining cars, again in model year order. All sold prices shown are hammer prices, which exclude the 10% buyer’s premium.
Lot 315, 1933 Ford V8 station wagon
SOLD at $33k, below pre-sale estimate of $40-60k
It’s interesting to look at this ’33, with its wire wheels and side curtains, and take in how quickly vehicles continued to evolve through the decade of the ‘30s.

Lot 308, 1937 Ford Deluxe station wagon
SOLD for $38k, within pre-sale estimate of $30-40k
The auction write-up claimed that this was a well-preserved original vehicle.

Lot 316, 1939 Ford Deluxe station wagon
SOLD for $65k, below pre-sale estimate of $120-140k
I liked this wagon a lot, with its front-end styling “almost” as nice as the 1940 models. Was this a steal? If the pre-sale estimates were anywhere near accurately based on recent sales, then yes.

Lot 314, 1940 Ford Deluxe station wagon
SOLD for $45k, within pre-sale estimate of $45-55k
Many hobbyists, myself included, consider the front-end styling of the 1940 Fords to be a highlight of the entire pre-war era. This wagon looked sharp yet just squeaked up to its low estimate.

Lot 310, 1942 Ford Super Deluxe station wagon
SOLD for $77k, above pre-sale estimate of $50-65k
A 1942 anything is a rare car. This was the only woody to exceed its pre-sale estimate.

Lot 313, 1946 Mercury station wagon
SOLD for $$33k, below pre-sale estimate of $40-60k
The only non-Ford in the collection, and undoubtedly a rare car. I’d surmise that a hard-core woody collector would be thrilled to have this in their collection.

Lot 317, 1947 Ford Super Deluxe Sportsman convertible
SOLD for $92.5k, below the pre-sale estimate of $130-150k
The highest-priced sale of this collection still missed the lower mark by almost forty grand.

Lot 311, 1951 Ford V8 Custom Deluxe Country Squire station wagon
SOLD for $32k, below pre-sale estimate of $40-50k
It was announced that this was Ford’s last year for woody wagons, and this was the first Ford to wear the “Country Squire” model name. I’d say that the combination of the two makes this a bargain at $32k.

Lot 160, 1934 Ford “Edsel Ford Speedster Recreation”, copy of one-off styling study done by Henry Ford’s son Edsel. Mechanicals are from a 1934 Ford.
SOLD for $80k, below pre-sale estimate of $100-120k.
I overheard comments along the lines of “this is a lot of money for a kit car”, but it wasn’t a kit car. Someone put significant effort into recreating this iconic vehicle (although I did not perform a side-by-side photographic comparison to verify its accuracy). It’s an interesting piece of history, and owning it means that you’ll never be able to stop explaining what it is (and isn’t).

Lot 335, 1936 Cord 810 Phaeton.
SOLD for $112.5k, below pre-sale estimate of $150-200k.
This Cord, a non-supercharged model, was a Phaeton, with a small rear seat. This one hammered quite a bit below its pre-sale estimate, and in my opinion, was a bargain deal for someone looking for a Cord drop-top.

Lot 173, 1936 Ford Model 68 Cabriolet, with rumble seat.
SOLD for $39k, within pre-sale estimate of $30-40k.
This one almost reached the top estimate, and I thought it was a good buy; however, checking recent sales on Bring a Trailer, these ‘30s flat head Ford convertibles do sell in this range, so the price here was fair to both buyer and seller.

Lot 129, 1937 Cord 812 Supercharged Phaeton.
SOLD for $145k, within pre-sale estimate of $100-175k.
Compared to Lot 335 above, this car was supercharged, which attributes somewhat to its higher price.

Lot 131, 1937 Cord 812 Supercharged Cabriolet RECREATION
SOLD for $56k, within pre-sale estimate of $50-70k.
Typically, RM Sotheby’s is 100% forthcoming in its lot descriptions. However, in this case, I give them 2 demerits by failing to make it obvious that this car was a recreation, done in South Africa by a builder who formed a new body to fit over Cord mechanicals. The less-than-authentic nature of the car was not lost on the bidders, yet the sale price still reached within the pre-sale estimates.

Lot 378, 1940 Lincoln Continental Cabriolet
SOLD for $52.5k, over pre-sale estimate of $30-40k.
The car looked stunning in black, and its V12 sounded smooth and quiet, at least at auction block speeds. This was one of the few cars in the two-day auction to exceed its estimates.

Lot 180, 1949 Allard L Type, car appeared to be original, unrestored, and complete
SOLD for $45k, over pre-sale estimate of $30-40k.
This one charmed me with its original patina bursting out at every seam. Allard is a relatively unknown marque here in the States. They were built in Britain with locally-sourced parts for the chassis, but the engines were always American-sourced. I know that they were raced in period. Given that there are new Allards being built again today, starting around $200k, I think that this one would be a blast to have at $45k.

Lot 379, 1953 Jaguar XK-120 Fixed Head Coupe.
SOLD for $65k, within pre-sale estimate of $60-80k.
This was one of three cars being sold from the estate of the late Dennis Nash. Dennis was a long-term colleague of mine from Volvo Cars of North America, and I’m proud to say, was also a very dear friend. His wife Ann Marie, who predeceased him, also worked for the company and they were known to many of us Volvo employees. Dennis was a true Car Guy, and his taste in cars ran toward British makes, although I knew him to have a few American cars (as well as the Volvo which is covered a little later here). I was not aware that he owned this XK120, which looked very clean and straight (with the possible funny exception of its dash-mounted Volvo radio). I thought the car might hammer closer to $80k, but I think the final price was fair.

Lot 178, 1954 BMW 501-6 four-door sedan
SOLD for $25k, below pre-sale estimate of $30-40k.
These are so rare in the States that I can recall only ever seeing one other of these rather unattractive cars. The short history that after the Allies had bombed BMW’s factories in WW2, the company struggled to get back to its feet. This overweight and underpowered design was their unsuccessful attempt to compete with Mercedes-Benz’s luxury sedans. In 1955, the Isetta brought in the revenue to fund the engineering of modern cars (the “Neue Klasse”), while these “Baroque Angels” as they were called languished in the showrooms. This car would be desirable only to a fanatical BMW collector.

Lot 161, 1954 Nash-Healey LeMans Coupe
SOLD for $40k, within pre-sale estimate of $40-50k.
The convertible version of this model is seen regularly enough (there was one at this auction), but the coupe is rarely spotted. Perhaps surprisingly, I find the coupe slightly more attractive than the drop-top. This one sold right at the bottom of its estimate, and it’s a handsome, usable, and unusual car for $40k.

Lot 332, 1956 Jaguar XK140 roadster
SOLD for $135, within pre-sale estimate of $130-160k.
My photos do not do justice to the quality of this restoration, which struck me as one of the stars of the auction. It’s a beautiful design in any color, but the red over beige was particularly appealing. Another $20-30k added to its hammer price would not have surprised me, so I’ll call this one well-bought.



Lot 181, 1957 BMW Isetta 300 Sliding Window Coupe
SOLD for $25k, within its pre-sale estimate of $15-25k.
Let’s face it: ALL BMW Isettas are “cute”, and that’s been a big factor in their enduring appeal. But prices are way off their highs of a dozen years ago, as more Isettas came onto the market. This one must have looked great to the casual observer, but wow, there were so many incorrect details. Look at those ridiculous hub caps! The front turn signals were incorrect, the interior was ghastly (the biggest boo-boo was covering the VIN plate with carpeting), and the colors were not the best choices. Frankly, I’m surprised at the sales result; I expected it to struggle to get out of the teens.

Lot 374, 1958 Aston-Martin DB2/4 Mk III
SOLD for $160, withing pre-sale estimate of $100-175k.
While the DB2’s and DB2/4’s never did much for me, I really liked this one in white over red. It also sounded incredible when driven across the block. You can’t touch a running, driving DB4 or DB5 for much under half a million, so getting a 6-cylinder DB for well under 2 looked like robbery to me. In fact, checking recent BaT sales, other DB2/4 Mk IIIs have sold in the $200k range, making this sale all the sweeter.

Lot 184, 1963 Lincoln Continental sedan
SOLD for $30k, below its pre-sale estimate of $45-60k
That pre-sale range looks more appropriate for the 4-door convertible, not the fixed-roof sedan. This was a smart-looking car, and for $30k, one got a “Kennedy-era Lincoln” while avoiding the complexity of that convertible top.

Lot 152, 1963 Alfa Romeo Giulia Spider
SOLD for $37.5k, below its pre-sale estimate of $50-70k.
Even I, a card-carrying Alfa owner, get confused about the switch from the Giulietta to the Giulia, as it occurred on a rolling basis in the early sixties. This convertible body style was introduced around 1955 as the Giulietta. When the completely redesigned Giulia sedans and coupes came out, the mechanicals were upgraded. But the new Spider (the Duetto) was still a few years away, so the Giulietta Spider was renamed the Giulia Spider. It was announced on the block that this car was born a “Normale” (Normal, or low-spec engine) but had been upgraded to Veloce (“fast”) mechanicals. This is what is known in Alfa circles as an “Abnormale”. In spite of the faster engine bits, this was a sloppy presentation, with the car looking worn and unkempt. Its cosmetic appearance did not inspire at all, so someone bought a ‘60s Giulia Spider at a bargain price, presuming that it will respond to some elbow grease.

Lot 205, 1981 Volvo 262C
SOLD for $11k, within pre-sale estimate of $10-15k
This is the second of the two Dennis Nash cars included in my report. (The third car, a Morgan, was not covered by me.) About 20 years ago, Dennis called me about this car, and asked me, as a favor to him, to check it out, so I did. The owner, a widow, told me it had been her husband’s car, but she didn’t drive it. It was stored indoors and had seen very little recent use. Aside from some dust, the cosmetics appeared ok. I was not crazy about the aftermarket sunroof, but once one of those is installed, removing it is a big job. The big news was the replacement of its PRV (Peugeot/Renault/Volvo) aluminum V6 engine with a Volvo B21F 4-cylinder job. This can be construed as either this car’s biggest positive, or biggest negative. I reported my findings back to Dennis, and he bought the car. It seemed to get a lot of attention in the tent outside, and I think the final price was fair to both parties.

ADDENDA: The Cord 810/812 cars
Three of the seven Cords which sold at Hershey this year are covered above. To many, the most desirable Cords are the final models, which were produced only for two model years: 1936 and 1937. There were four body styles: the Winchester 5-seat sedan; the Beverly 4-seat sedan; the 2-seat Cabriolet; and the 4-seat Phaeton convertible. All ’36s were model 810, and all ‘37s were model 812. In 1937, a supercharged engine was available as an option. From the outside, these are clearly identified by the stainless-steel exhaust pipes exiting through the hood on either side.
I’ve followed the Cord market in a peripheral way through the years, and at least up until recently, I’ve noted that the four-door cars have tended to sell in the $60-80k range, while the convertibles fetched much higher prices, closer to $125-175k.
In 2002, I attended the annual Auburn/Cord/Duesenberg reunion in Auburn IN, and posted about it here.
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