Read All About It!

March 2002 CCN V5

Read All About It!

First Look Barrett Jackson 2002 The Plaque Reads AACA Senior Is this the one that got away !

1967 Corvette 427/435 $140,000 Imagine Another 1967 Sold for More !

In this issue of the CC News: It’s My Opinion! ------“So Please Read It!” Fall 2001 Hershey Car Show - Car Corral - The Russo Steele 2002 AZ Auction Next Up Coverage Includes Look For Us At Spring Carlisle Space L73 Adjacent Joe Jessers Klassic Keys Watch Our Moving Banner For other Future Events We Will Cover

Page 2 It’s My Opinion! by Tony Monopoli

The picture on the left is the photo I used as part of my December 2000 Christmas card. You can expect to see a different one as the lead photo with each new My Opinion Column. We hope to have you visit us at WWW.autoappraiser.info to read my words of wisdom or just to see another silly Santa shot Summer Santa Checks NADA Guides for Prices on a regular basis. Those who receive the Christmas card yearly tell me their collecting them. Get--a----- life!

Did you read the My Opinion Column in the last issue of the Classic Car News? Then you know that I am smirking. The auctions in Arizona were an enormous success. This sale had a truly eclectic group of buyers, sellers and automobiles. The 1967 Corvette on the title page sold for $140,000 plus commissions. The soothsayers would have you believe that all--the-prices were in cloud---nine, but look carefully at the result sheets and weep----- you missed a lot of good deals. The 1957 Thunderbird with AACA senior badges sold for $46,000, it might be the one that got away. The Arizona auctions offered us something for every one!

Barrett Jackson won the highest sell-through award again (86% of the cars offered sold). People think Craig Jackson’s ability to get all those no-reserve cars did it; I say it’s not that simple. He even setup a tent so attendees could watch the NFL Playoffs, what an innovator. If the US was in a recession the bidders left home with out it, his sale grossed $26.9 million, which was more than last year. His auction set eight new world records which included selling a 1956 Ford Thunderbird for $109,080; a 1970 Chevrolet Chevelle LS-6 convertible for $172,800; a 1965 Chevrolet Corvette L-78 Roadster for $124,200; and a 1958 Chevrolet Impala Convertible for $86,400. A 1932 Ford Hi-Boy Roadster known as "Black Jack" fetched $172,800. Top price of the sale went to the 2000 Saleen S7 Factory Prototype at $432,000. All prices mentioned reflect the commissions.

This year Drew & Josephine Alcazar brought some interesting features to buyers who participated in their Russo Steele auction. All vehicles declared sold at the auction came with free insurance coverage. The Grundy Policy gave buyers enough coverage to get their acquisition home. Another auction benefit offered early registered bidders who bought a car pre-paid delivery in the continental USA. Drew Alcazar’s approach to selling included fewer no-reserve consignments, which still resulted in a healthy 70% sell through and over $4 million in sales. Their highest sale was for a 1967 L88 Covette that brought $500,000 after the gavel fell. After studying the cars, the crowd and the results, I conclude that the AZ auctions had something for the Collector, Investor and Dealer (something for everyone). I am gloating because I told you so!

As I flew for the very first time since September 11, 2001, many thoughts went through my mind. As you can see by my Summer Santa photo, I am the proud owner of a Doberman Pincer. As the plane taxied and took off, I thought why don’t they use guard dogs as part of in- flight security. After all, dogs seem to have a sixth sense and are fearless. If you have ever seen the TV show Cops you know what I mean? I recall watching our hometown K-9 unit, demonstrate their Arson Dog’s ability to find drugs or arson related accelerant soaked items hidden by an officer. The dog’s handler told us that a dog could find accelerant soaked material after being under water for a year. So why not put Rover to work securing our flights.

Since I had pre-purchase inspections to perform at the Barrett Jackson and Russo Steele Auctions, I started to prepare for them once I was comfortable with flying again. Preparation included studying a VIN decoder book for Mustangs and another that covered the other cars and years that I would look at. The good old Boy Scout training that sticks in my head is “be prepared”.

Today, there are many good VIN decoding books available. Some include specifications, options, date & number deciphering, along with general information. Car Clubs offer them as well as Cars & Parts Catalogs of ID Numbers, the White & Black Series books by Mike Antoick, The Corvette Essentials Guide by Chuck Brigermann, and the 1967 to 1969 Camaro books by Jerry MacNeisch are all helpful. You can find information on the Internet about a car, a company or the person responsible for designing them. Recently, I appraised an automobile for an Estate. Their contact couldn’t provide the VIN number, or as I learned later the vehicle’s correct year. I contacted the historian of the National Reo Club, who gave me the correct location to look for the VIN # and he also helped me identify the correct year. Thanks!

Russo Steele set up within a mile of the Barrett Jackson’s site. Barrett Jackson had nearly 800 cars registered compared to Russo Steele’s 200 car consignment. The 2002 Barrett Jackson auction marked 31 years Vs Russo Steele’s 2nd. The number of cars weren’t their only differences either. Russo Steele rugged their entire fenced in site and sold vehicles on the floor level instead of the tradition raised auction block. Their seating and eating arrangements gave attendees at Russo Steele a different feel too. Overall, both offer concepts that other auction should consider adopting.

Pictured are just a few of the fine Street Rods on hand at the Russo Steele Auction. Besides high tech Street Rods, transporters like the one pictured un-loading were also state of the art.

Besides the cars Russo Steele added a collection of Automobilia this year. Cave Creek Classics handled the auctioning. They consigned pedal cars, vintage bicycles, ride-on toys, gas pumps, vintage neon, porcelain signs, prints and posters.

Craig Jackson’s event brought in many Celebrities. Racecar legends, Danny Sullivan, Parnelli Jones and Joe Amato were on hand to help pitch or sell their cars. Baseball Superstars included the Arizona Diamondback's Cy-Young Award winner & 2001 World Series winning pitcher, Randy Johnson. Hall of Fame’s Reggie Jackson sold a COPO Camaro for $78,840 and Cecil "Big Daddy" Fielder got $48,600 for his COPO. Others that joined them in the VIP Skybox included Tim Allen, Mark Harmon and Alice Cooper.

If you really believe that the Barrett Jackson Auction is the Classic Car Market’s Barometer, then you would expect another stellar year. Craig Jackson is smiling while Mr. October is telling onlookers how collectors thought he was paying too much for Muscle Cars 20 years ago, when we now know they were cheap. Reggie took the time to thank the Barrett Family for their part in the growth of the collector car market. We believe it too!

Camaros are hot, even if their owners didn’t play ball. Another fan paid $118,800 for a 1967 Chevrolet Camaro SS Yenko. In the past few years I have witnessed some hi-end Camaros change hands, so I am not surprised.

Hershey 2001

The Fall AACA Hershey event attracts it’s attendees from in and out of our country. A driver for Horseless Carraige, which is a Paterson, NJ based transporter claimed they shipped so many vehicles out of the country that their city blocks off streets around their facility giving them extra room to process vehicles.

© AVM 2002 All Rights Reserved Page 5 The Car Show is a highlight of the event. It takes place on Saturday of each year. The vehicles that are entered in the show are required to drive under their own power onto the show field. To attendees that is worth the hassle of going, parking and burdening your aching feet.

The size of the Show ceased to amaze me, considering the events that took place September 11. Passenger vehicles are the bulk of the show. Commercial vehicles and motorcycles make up the rest. Chances are you would never get to see the variety of vehicles that Hershey has to offer any place else. The sign infront of the car on your left declared it a 1934 Ford Cabriolet. It explained that Mr. Henry Ford commisioned it built for his wife from a European Custom Coach Builder. Its nose, grille and hood appear to be of 1935 Ford vintage, but. the rest of the body has a German flavor. The windows and partial steel frame rolled down together. Its inginuety allowed the roll up windows to appear framelss and I am sure it would provide a tighter seal. I imagine it was state of the art in its time, leave it to that German engineering..

“Silence is Golden”, The Rauch & Lang vehicle is a turn of the century electric center door coupe. To watch it challenge the grade of the entrance road with little effort and almost no sound was fascinating. The women dressed for the era and the vehicles surrey steering brought you back in time. A unique seating arrangement put the children’s seating facing the driver and passengers. I’d like to know why electric car technology has been dormant for so many years. Oil Company lobbyist, maybe?

© AVM 2002 All Rights Reserved Page 6 Since automobiles celebrated their hundredth birthday a few years back, cars like the Olds have gained popularity and price. The 100-year-old Curved Dash Olds worked hard making the slight grade entering the show field with its single cylinder engine. GM’s idea to discontinue the Olds brand might be contagious, Daimler Chrysler is eliminating Plymouth and Ford is giving up on the Mercury line. Oh well!

Collectors are showing a greater interest in trucks for sometime now. The 1958 Studebaker pickup truck below has a V8 and 4-wheel drive. A quick look through all the Price Guides revealed a lack of coverage even though the 4x4 market is hot, hot-- hot.

You can’t stop progress or time, so the AACA, along with the venders and attendees dealt with Hershey’s ongoing construction. Anyone who runs a show should have compassion for the AACA Eastern Region folks, that run it. The IAAA was setup in Joe Jessers Klassic Keys Space in the yellow field since 2000. It was better in 2001, but still tested vendors and attendees constitution. The Car Show and Corral areas were also re-configured to accommodate construction this year. I do think attendees will be pleased with the newly paved flea market & car corral spaces expected in 2002.

The Car Corral is always a great place to get an in-the-trenches-feel for prices. I visited the Car Corral on Saturday morning and noted many empty spaces. Cars still showed strength even though it took place within a month of September 11th. Hershey is the meeting place for avid collectors, restorers and entrepreneurs from around the world, who buy & sell cars and parts along with offering their various services. As in every other year foreigners came and took some of what Hershey represents home with them. “You can find anything you want at Alice’s Restaurant” and of course “the Fall Hershey event”.

“ The seller of the 1934 Ford Phaeton declared it a two time Dearborn winner for only $49,000.”

The seller of the 1950 Olds Holiday 88 Coupe claimed it was “all original” for $24,900.

The diversity of the Hershey Car Corral is evident by its different vehicles and their prices. The 1956 Ford F100 pickup was offered for $20,000 and the owner of the Oldsmobile Curved Dash replica reduced it to $4,000 by Saturday

The Datsun Z was first introduced as a reasonably priced Sports car and at $12,900 they still are an economically desirable collectable. The 1960 Chevy’s seller asked $15,900. The Car Corral photos were taken on Saturday, which reflects reluctant buyers at their prices.

Classic Car News Is Published By the IAAA Box 338 Montvale, NJ 07645 [email protected] WWW.Auto-Appraisers.com