If you're in the L.A. area Dec. 8th check out a couple iconic Hot Rods for sale. The Lloyd Bakan 1932 Ford coupe, and the Jack Thompson 1927 Ford track nose roadster......
Found this on the net. They're looking a 400K to 500K on the Lloyd Bakan coupe, what do you guys think it will bring? https://rmsothebys.com/en/auctions/ca18/auction/lots/r0076-1932-ford-lloyd-bakan-coupe
Both beautiful cars with history. The restoration work on the coupe is quite impressive. Not sure what they'll bring, not sure I care so much, glad to see these historic hotrods get the respect they deserve.
The Jack Thompson T at 100-130K would be a steal, one of the most iconic T roadsters. The Lloyd Baken coupe 400-500K is a fair assessment, I would not be surprised if it went higher. Isn't the McMullen roadster up for grabs at this Auction?
Agreed! Agreed! No ... It goes on the auction block in January ... at the MECUM Kissimmee (Florida) auction ... click HERE.
I remember looking at the photos of the Loyd Balken Coupe for hours on end when it came out in a magazine feature when I was pretty young. It might be a good thing that I haven't won a big powerball drawing as that is one of my all time favorites. I'd think we will see a bidding war on all three cars at that auction.
I Think I borrowed that one off the Kitsap County Bookmobile when I was in the 5th grade on Bainbridge Island. I spotted a Hot Rod Magazine that a 6th grader had in his hand and looked to see if they had more. I checked out one or two that they had and everytime the bookmobile came turned in the ones I had and checked out more the rest of that year and all of when I was in 6th grade. I think I was 12 or 13 when my grandmother bought me a subscription something that she continued to do until 1975 when she passed away.
I don't think Bakan and Rodriguez cars made their reserve. They were bid up to $360,000 and $110,000 respectively but did not sell. The Mysterion sold for $220,000 and I haven't heard anything about the Thompson T.
The Jack Thompson T at that price, I understand, could hardly build it for that. But the Baken coupe at $400-500 k is something that I just don’t get! How much value do you add to the build/cost value of a car just due to the history? Congratulations, That would be a good outcome for such an unique automobile.
Thanks for all the info guys. Jeff I went to McLane in Fresno, class of' 65. I'am really happy for you on the sale. Your build was quite admirable, someone bought themselves a nice car. Rich
The TV Batmobile didn't sell either. There were a couple dozen cars that didn't meet reserve and are still out there. Sotheby's shows them on their site as still available but without the prior reserve price. Maybe be able to get them for 'best offer'?
Congrats on the sale. Hopefully the car goes to a place where it can be seen and enjoyed by the public rather than stashed in someone's warehouse collection with the rest of the automotive jewelry only to be seen by a select few.
Congratulations Jeff! Good to see your efforts duly rewarded. I’m looking forward to getting/reading your book. I’ve just gotta ask, what is the tax liability when you sell a car at auction in that price range? Sent from my iPhone using The H.A.M.B. mobile app
Buyer pays sales tax. Sotheby's takes 10%. I need to talk to my accountant but I am pretty sure I will owe max marginal rate (34% Feds, 10.5% Cal?) on what's left on the increase over the basis. Figuring the basis is the problem!! Never done anything like this before!
I suppose if you had someone build it for a fee, that fee would be allowable as part of the basis, but your hours spent at X$ per hour not allowable. Just guessing, if so, not fair. Hmmm, find a tricky accountant.
It’s such a schizophrenic market. Can’t say I’d buy any high dollar cars at the moment. Looking at the results for this auction doesn’t look good to me... but what do I know.
Yep. That's the problem. They tax you on your blood, sweat, and tears. If you don't invest your life in the thing, they let you pass.
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