HERSHEY 2019: The RM Sotheby’s Auction, Friday Oct. 11

Friday was Day Two of the RM Sotheby’s Auction at the Hershey Lodge (located of course in downtown Chocolate World). In contrast with Thursday’s auction, the cars were a mix of pre- and post-war (still dominated by the former), and some of the lots had reserves this time around. The performance of the pre-war iron was again impressive, with the cars selling for decent money, proving that there is still a market for ’20s and ’30s era vehicles. Friday also had a smattering of imports scattered amongst the American marques.

Pre-war metal ready to cross the block

As we’ve seen at every auction lately, Friday’s offerings included an estate sale, with a large poster proclaiming “The Complete Collection of Jack Dunning, Offered Entirely Without Reserve”. Presumably, Jack has either passed on and his heirs don’t care, or, he needed to liquidate and he didn’t care. I didn’t stick around long enough to witness any of Jack’s wares sell, but if you’re interested, RM has the results posted here.

Poster was impressive; so were his cars

I did watch the first dozen and a half or so cars go in, up, off, and back. The fine ground crew decided to start and drive most of these cars, so that treat was enjoyed after missing out on it the previous night. Of the vehicles I watched, only one failed to sell: a ’55 Chrysler C-300 (first year of the legendary 300s), which was bid up to $50,000 against a $70,000 estimate. Me thinks the right number is right in between.

1955 Chrysler C-300, no sale at $50,000 high bid

Overall, I do believe that RM Sotheby’s puts on an excellent auction. They work hard at it, and frankly, it shows. I’ve been fortunate to be a first-hand spectator at auctions by Bonhams, Barrett-Jackson, Carlisle, and Mecum, all of which are fine auction companies in their own right. But I’ve seen their hits and misses. RM seems to be the most consistent of the bunch.

Below is a selection of Friday’s sales, arranged in ascending hammer price order. The prices shown are exclusive of 10% buyer’s premium.

 

1953 Chevrolet 210 2-door sedan, sold for $11,000
1959 Nash Metropolitan coupe, sold for $12,000
1928 Ford Model A Roadster, sold for $13.500
1931 Ford Model A Roadster, sold for $17,000
1928 Ford Model AR Phaeton, sold for $21,000
1941 Ford V-8 Convertible Coupe, sold for $23,000
1931 Ford Model A Roadster, sold for $25,000
1963 Ford Falcon Futura convertible, sold for $27,500
1939 Ford V-8 Convertible Sedan, sold for $29,000
1963 Ford Falcon Futura Coupe, sold for $30,000
1962 Lincoln Continental sedan, sold for $35,000
1934 Ford V-8 Coupe, sold for $37,500
1936 Packard 120-B Convertible, sold for $52,500
1964 Fiat 2300S Coupe, sold for $52,500
1940 Ford V-8 Convertible Coupe, sold for $70,000
1929 Pierce-Arrow Roadster, sold for $75,000
1938 Packard Twelve Touring Cabriolet, sold for $110,000

 

All photographs copyright © 2019 Richard A. Reina. Photos may not be copied or reproduced without express written permission.

HERSHEY 2019: The RM Sotheby’s Auction, Thursday Oct. 10

Anyone who thinks that the collector car hobby is on the decline, or who at least proposes that the pre-war segment in particular is as dead as these vehicles’ original owners, was not in attendance as I was at the October 2019 two-day auction held by RM Sotheby’s in Hershey PA. As they have for probably the last 10 years, RM contracted with the Hershey Lodge to host the event, and it was scheduled to coincide with the AACA Hershey Fall Meet.

Lots are queued up under the tent next to Hershey Lodge

The auction results I observed made it crystal clear that the hobby is as strong as ever; and anyone suggesting that “no one is in the market for anything built before ______” (insert the post-war model year of your choice) is not cognizant of the facts.

The orange Reliable Carriers truck glows under the twilight sky

The facts are these: the Thursday portion of the auction was the liquidation of the Merritt Auto Museum of Nebraska. No explanation was given for its closing, but the 107 vehicles on offer were all pre-war, and all were offered at no reserve. The catalog provided the auction house’s pre-sale estimates, and much of the pre-auction excitement boiled down to this: would the supposed indifference to such aged lots result in low-dollar sales? Or would the no-reserve format drive the bidding to numbers close to or above the estimates?

I stuck around long enough to personally observe 33 lots cross the block. Of those 33, 21 sold within or above their estimates; 13 lots sold below (and of those 13, two were “replicas”, and one was a sedan rebodied as a phaeton). It was an impressive performance, and with possibly very few exceptions, no one “stole” any automobiles. This chart shows those 33 vehicles (buckboards were clearly the hot attraction of the night):

2019 RM Hershey Thurs

Note that the indicated “hammer” price is exclusive of 10% buyer’s premium.

Thursday’s show also differed from other RM at Hershey auctions because every lot was pushed into and out of the building. In previous years, one of the thrills for me (and a reassurance to the bidding audience) was the visual acknowledgement that the cars started and ran. Whether the pushing was done for expediency or to spare our lungs was not stated; and while all the vehicles looked cosmetically fresh (I’d rate every vehicle a 3+ or 2- in condition), I did overhear the handlers state “watch out, that one has no brakes” several times.

They pushed them in….
… and they pushed them back out.

 

Below are selected photos from Thursday’s auction. The vehicles below are arranged in order of HAMMER PRICE, from lowest to highest. Due to the size of this report, I will break out Friday’s auction results as a separate blog post.

 

Lot 163, 1902 Olds Curved Dash Replica, sold for $3,500, 42% below its pre-sale low estimate of $6,000

 

Lot 186, 1914 Buick Roadster, sold for $13,000, 35% below its pre-sale low estimate of $20,000

 

Lot 181, 1923 Willys-Knight Roadster, sold for $13,000, 48% below its pre-sale low estimate of $25,000
Lot 179, 1930 Marquette Phaeton (rebodied sedan), sold for $14,500, 3% below pre-sale low estimate of $15,000
Lot 168, 1933 Essex Terraplane, sold for $17,000, within its pre-sale estimate of $15-25,000
Lot 184, 1913 Maxwell Roadster, sold for $18,500, within its pre-sale estimate of $15-25,000
Lot 180, 1933 Essex Terraplane, sold for $20,000, within its pre-sale estimate of $20-30,000

 

Lot 178, 1929 Ford Model A Phaeton, sold for $22,000, within its pre-sale estimate of $20-25,000
Lot 201, 1928 Franklin Depot Hack, sold for $22,500, 25% below its pre-sale low estimate of $30,000
Lot 185, 1912 Detroiter Speedster, sold for $25,500, within its pre-sale estimate of $25-35,000
Lot 206, 1932 Pontiac Coupe, sold for $26,000, within its pre-sale estimate of $25-35,000
Lot 195, 1932 LaSalle sedan, sold for $30,000, 14% below its pre-sale low estimate of $35,000
Lot 187, 1923 Packard Runabout, sold for $34,000, within its pre-sale estimate of $30-40,000
Lot 202, 1936 Cord 810 Westchester sedan, sold for $37,500, 25% above its pre-sale high estimate of $30,000 (it was announced on the block that engine had a cracked cylinder head)

 

All photographs copyright © 2019 Richard A. Reina. Photos may not be copied or reproduced without express written permission.