Street Rods And Customs Bringing Big Numbers At Auctions

It all started in 1999 when John D'Agustino's "Marilyn" custom 1952 Caddy convertible sold for $154,000 at the Christie's auction at Pebble Beach, Calif. At that time it was a record price for a custom. Last spring Rick Dore's "Tangerine Dream" '36 Ford sold for $79,000 at the Barret Jackson auction in Arizona. Then two examples of rods and customs penetrating the rarefied atmosphere of the big spender vintage sports car and classic auctions occurred August 19, 2000 at the RM Auction at the Doubletree Inn in Monterey, Calif.

My own purple "SCRAPE" 1939 Lincoln Zephyr sold for a cool quarter million dollars (actually $275,000 including the 10-percent buyer's commission), followed by Chip Foose's 2000 AMBR winning "0032" 1932 Ford roadster which went across the auction block at $264.000. Both cars were purchased by Robert E. Petersen (founder of Petersen Publishing) for the Petersen Automotive Museum in Los Angeles, where they are now on permanent display. Bidding was hot and heavy with multiple bidders for both cars.

In January of this year, four rods sold for decent numbers at the Barret Jackson auction: Paul Atkins' yellow Riddler Award-winning '33 Speedstar coupe sold for $106,000, a '32 belonging to Boyd Coddington sold for $104,000, Eric Geisert's green Model A Roadster of Street Rodder magazine sold for $76,000 ($20K more than he was asking for it), and Butch Martino's flamed '33 Ford brought $121,000.

Bet your next question is, "So, how do I get my hot rod into these auctions?" For years these exclusive upscale auctions run by Brooks, Christies, RM, Barrett Jackson, etc. have been the exclusive domain of Deusenbergs, McLarens, vintage Hispano Suizas, and the like. Hot rods were considered verboten (forbidden) at these classic and sports car gatherings like Amelia Island, Meadowbrook, and Pebble Beach. But in recent years a few enterprising rodders have managed to wangle a street rod or custom into the mix. It seems these days the trend among big buck classic car mavens is that your collection isn't "complete" until you own at least one killer rod or custom.

The good news is that the door is now slightly open to let rods and customs into these classic and vintage sports car events and auctions. The bad news is the car must be truly exceptional or unusual to be accepted by the auction companies and event organizers.

With the sale of the Cook and Foose cars, one might expect a tidal wave of rodders trying to get in for a piece of the action. But your perception of what is exceptional or unusual may not be shared by the event organizers, as even the best-detailed, fully chromed '34 or '37 Ford might well be perceived as "common" by the snooty auction houses.

What does it feel like to sell your hot rod for a quarter million dollars? When I was interviewed after the event, I explained, "My bail bondsman and interior decorator Reverend Mike of Buffalo, NY was driving the car across the auction block. When he set the car down flat in center stage and it was time to raise the hydraulics, the car refused to lift! I jumped in, checked the connections, grabbed a battery booster pack from a stage hand and connected it in a frantic attempt to get the car up so it wouldn't be embarrassingly 'stuck' on center stage. I was completely oblivious to the bidding. When I heard the auctioneer say $220,000, $225,000, I asked Mike if what I heard was true. He told me, 'Don't pay any attention to what you hear, JUST FIX THE CAR!'"

When "SCRAPE" debuted at the 1998 York NSRA Nats East it received a standing ovation from the rodders in the grandstands during the Award Ceremonies, and when it drove onto the auction block in a convention hall filled with 3,000 bluebloods at Pebble Beach, the crowd gave the car another standing ovation! These were the first and farewell appearances of the car under my ownership, appreciated by two different kinds of car aficionados.

Photos by Steve Coonan

If you want to talk to Terry Cook about hot rods, custom cars, or anything else e-mail to leadeast@aol.com

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