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Rising Value of Unrestored Cars

By Malcolm Welford, Vintage Car Specialist
 

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Archive for April, 2012

Astronaut Shannon Lucid’s Space Suit At Bonhams

April 17, 2012

Forty-seven women have flown in space, and from time to time, items from those flights appear at auction. The latest is a 1990’s Russian training “rescue” suit that American astronaut Shannon Lucid wore at times during a six months visit to Russia’s orbiting space station, Mir. Designed to be donned in the event of spacecraft depressurization, Lucid’s suit is the featured offering at Bonhams Space History sale in New York on April 26th, when it’s expected to fetch $30,000-$50,000.

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A Very Pretty ($1m) Penny

April 17, 2012

Pennies are a problem. They are more trouble to produce than they’re worth. If you go back 220 years they had problems with the very first pennies. Congress dictated the copper content, but pure copper made them too big and heavy. So they tried putting a silver plug in the copper, and one of those experimental coins struck in 1792 comes up for auction this week at Heritage, with a $1m estimate.

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A Thomas Jefferson Letter About Benedict Arnold At Swann’s

April 16, 2012

After he defected to the British army, Benjamin Arnold’s first action as a General in the English forces, on January 4th, 1781, was to launch an attack on Richmond. A letter by Thomas Jefferson describing that battle, and how little it yielded to the British, will be a highlight at a New York auction of Revolutionary Americana  from the Allyn Kellogg Ford Collection at Swann Galleries. It’s expected to sell for $30,000-$40,000 at the April 17th event.

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Famed Basket Weaver’s Rare Work Offered

April 16, 2012

Datsolalee was nearly blind but recognized as Native America’s finest basket weaver whose intricate designs and precision work is expected to reap a great price when Bonham’s stages its 3-part Native American auction in San Francisco.

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Jewels From Eccentric Heiress Come Out Of Vault

April 13, 2012

The story of the jewelry’s owner is more fascinating than her jewels to be sold next week by Christie’s in New York. Huguette Clark died at 104, a recluse for 60-years.  Unseen in a vault for most of those years were a rare 9-carat pink diamond and an“internally flawless” 44.09 carat D-color, emerald cut diamond. Christie’s will offer 17 of Clark’s pieces, expecting a total of $12m.

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Titanic Auctions Mark Centenary

April 13, 2012

Amidst all the hoopla surrounding the Titanic centenary, a sea of memorabilia from the ship is coming to auction. One of the more interesting items is the telegram that alerted the British Isles and Europe that the Belfast-built ocean liner was sinking. Dated 15 April 1912, the telegram was sent by the Press Association to the Belfast Evening Telegraph, and received by journalist Robert (Bob) McComb.  Dublin-based Whyte’s will offer the telegram at an auction on April 21st, where it’s expected to sell for $26,000-$39,000.

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Talbot-Lago, Ferrari Racers At RM Monaco

April 12, 2012

Originally intended for the 1950 24 Hours of Le Mans, this 1950 Talbot-Lago T26 Grand Sport racer wasn’t finished in time for the race. Instead, 1950 Le Mans winner Louis Rosier purchased the car for the 1951 race, in which he drove it with the 1950 Formula 1 champion, Juan-Manuel Fangio. After 92 laps an oil tank failure caused them to withdraw. For the past 54 years, the car’s had just one owner, who campaigned it in historic races. At RM’s Monaco sale next month, it’s expected to sell for $1.5m-$1.98m.

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Antiquities From Groppi Collection At Christie’s

April 11, 2012

In the 4th Century B.C., Nectanebo I founded the last native dynasty of Egyptian Kings and is remembered for building and renovating temples.  A unique 4-foot  limestone statue of the Pharaoh will be part of Christie’s Antiquities sale on April 26th. It is part of the Groppi Collection. High estimate is $1.4m. Among other enterprises, the Groppi name was widely known in Europe for its ice cream.  

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Colt’s 1st Cartridge Revolver At Rock Island

April 11, 2012

On December 1, 1871, Colt presented an engraved, nickel-plated revolver to one Lewis Sheldon, who’d been Colt’s bookkeeper and paymaster.  A version of the company’s 1861 Navy revolver, it was Colt’s first cartridge revolver. With its cylinder roll-engraved with a Texas Navy battle scene, the pistol bears the serial number 1. Remarkably, it’s been in the original owner’s family for the past 141 years. Rock Island didn’t release a public estimate for the pistol, which indicates the auction house expects an explosive price at its April 20th-22nd sale in Illinois.

Update: The 1861 Colt sold for $368,000.

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Trepanning Anyone? Macabre Specialty Items At Auction

April 10, 2012

One of the stranger offerings heading to auction next month can be found at a “Specialty Auction” at Germany’s Team Breker. It’s a complete set of 18th century French trepanning instruments. For those not versed in superannuated medical procedures, that’s the practice of removing a circular section of the human skull, still performed into the 19th century. The set, in “original” condition, comes complete with everything a surgeon of the time might need, including ebony-handled trephine, perforators, elevator and lenticulars (est. $9500-$12,700).

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Buckner’s Nightmare Baseball For Sale

April 10, 2012

It’s bad enough to commit a crucial error in front of a World Series TV audience. It’s worse to have the gaffe enshrined in the very baseball that Bill Buckner let slip through his first baseman’s mitt, allowing a run that contributed to the 1986 Mets improbable victory over the mighty Red Sox. It’s called the “Buckner Ball,” and Heritage Auctions is selling it next month in Dallas.  Some predict it could go for more than $100,000.

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Rare Patek Philippe May Fetch $800,000

April 09, 2012

What sort of a wristwatch can you buy for $600,000-$800,000? If timepiece auctioneer Antiquorum’s estimate is correct, that would be a platinum Patek Philippe Ref.3974. The ultra-rare astronomic, minute repeating, self-winding platinum timepiece will be the highlight at Antiquorum’s sale on April 25th in New York. The next four most valuable lots in the auction are also Patek Philippes, whose expected prices range from $400,000 all the way down to $100,000.

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Dali to Test Surrealism Prices At Sotheby’s

April 09, 2012

Sotheby’s is staging a major modern and impressionist auction that will test the surging market in late 20th Century artists such as surrealist Salvador Dali whose painting, “Printemps Necrophilique,” comes with a $12m estimate at the May 2 sale in New York.

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The Ball That Made Babe Ruth King

April 05, 2012

For Babe Ruth fans, July 12, 1921 is one of the great dates in baseball history. That’s when Ruth hit the home run, the 136th of his career and 33rd of the season, that crowned him the Home Run King. It happened during an away game, when the Yankees visited the St. Louis Browns at Sportsman’s Park. Heritage is offering the baseball Ruth hit in its Sports Collectibles auction on May 4th-5th. It’s expected to realize upwards of $50,000.

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Rare Broughs & Vincents At Bonhams

April 05, 2012

The Brough Superior SS100 has always had a special cachet. Known as the “two of everything” model, its JAP v-twin engine had two carburetors, two magnetos, and two oil pumps. Produced in 1934, it’s the rarest of all SS100 models, as only eight were produced. One of them is a highlight at Bonhams classic motorcycle sale in the U.K. on April 29th, when it’s expected to sell for $237,000-$285,000.

Update: the 1934 Brough sold well above estimates for $393,434. A 1939 Vincent realized almost as much, or $365,343.

Read more...
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    Eye On: Taxes

    U.S. Taxes on art bought abroad

    Collectors buying art at auctions overseas must be aware of U.S. tax consequences. Here are some tips from Alan Olsen that will help smooth the way.


    Art Bought Overseas CPA Alan Olsen, of Greenstein Rogoff Olsen & Co., talks about the U.S. tax consequences when you purchase art abroad. Watch Video


    Ask Alan A Question


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