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Event Coverage Sotheby's Hot Rod Auction at the Pete Dec 8th, 2018

Discussion in 'The Hokey Ass Message Board' started by Nobey, Dec 3, 2018.

  1. Nobey
    Joined: May 28, 2011
    Posts: 1,171

    Nobey
    Member

    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...... 2018-11-30_16-18-58_860878-e1543594909477-960x526.jpg rm-sothebys-auction-at-peterson-museum-december-8-2018-2018-11-30_16-29-10_424223-960x640 (1).jpg
     
    Last edited: Dec 4, 2018
  2. Nobey
    Joined: May 28, 2011
    Posts: 1,171

    Nobey
    Member

    The 39 guy likes this.
  3. mark40h
    Joined: Oct 12, 2012
    Posts: 6

    mark40h
    Member
    from quincy,il.

  4. Squablow
    Joined: Apr 26, 2005
    Posts: 14,487

    Squablow
    Member

    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.
     
    chryslerfan55 likes this.

  5. Hope mine goes for more than $100!!!!!
    Sotheby's Petersen Museum Auction.jpg
     
  6. Jalopy Joker
    Joined: Sep 3, 2006
    Posts: 25,188

    Jalopy Joker
    Member

    If ya got real money good way to spend it
     
    loudbang likes this.

  7. Lot #169 Lloyd Bakan '32 Ford Coupe.jpg
    Lot #169 (top).JPG
    Lot #169 (middle).JPG
    Lot #169 (bottom).JPG
     
    Last edited: Dec 4, 2018
    chryslerfan55 and loudbang like this.

  8. Lot #171 Jack Thompson's '27 Ford T Track T.JPG
    Lot #171.JPG
     
    Last edited: Dec 4, 2018
    chryslerfan55 and loudbang like this.

  9. Lot #168 Recreation of Ed Roth's '62 Mysterion.JPG
    Lot #168 (top).JPG
    Lot #168 (bottom).JPG
     
    Last edited: Dec 4, 2018
    chryslerfan55 and loudbang like this.
  10. 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?
     
    chryslerfan55 and Nobey like this.
  11. Agreed!

    Agreed!

    No ... It goes on the auction block in January ... at the MECUM Kissimmee (Florida) auction ... click HERE.

     
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  12. Nobey
    Joined: May 28, 2011
    Posts: 1,171

    Nobey
    Member

    I hope it goes for big bucks, it's actually better then the original. Such a nice build.....
     
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  13. Mr48chev
    Joined: Dec 28, 2007
    Posts: 27,368

    Mr48chev
    ALLIANCE MEMBER

    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.
     
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  14. Nobey
    Joined: May 28, 2011
    Posts: 1,171

    Nobey
    Member

  15. Mr48chev
    Joined: Dec 28, 2007
    Posts: 27,368

    Mr48chev
    ALLIANCE MEMBER

    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.
     
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  16. Nobey
    Joined: May 28, 2011
    Posts: 1,171

    Nobey
    Member

    Well what did they go for????
     
    loudbang likes this.
  17. Mysterion went for $220K. Did you go to PUHS? What year? I am class of '67.
     
    chryslerfan55, Nobey, clem and 2 others like this.
  18. 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.
     
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  19. Phil P
    Joined: Jan 1, 2018
    Posts: 285

    Phil P
    ALLIANCE MEMBER

    Congratulations , that should help your next project along. Phil
     
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  20. clem
    Joined: Dec 20, 2006
    Posts: 2,972

    clem
    Member

    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.
     
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  21. Nobey
    Joined: May 28, 2011
    Posts: 1,171

    Nobey
    Member

    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
     
    chryslerfan55 likes this.
  22. 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'?
     
    chryslerfan55 likes this.
  23. Wife saying goodbye to our baby last night at Petersen museum.
    file-9.jpeg
     
  24. Mr48chev
    Joined: Dec 28, 2007
    Posts: 27,368

    Mr48chev
    ALLIANCE MEMBER

    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.
     
    jakespeed63 and chryslerfan55 like this.
  25. bchctybob
    Joined: Sep 18, 2011
    Posts: 2,418

    bchctybob
    ALLIANCE MEMBER

    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
     
    chryslerfan55 likes this.
  26. 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!
     
    HEMI32 and chryslerfan55 like this.
  27. Tom davison
    Joined: Mar 15, 2008
    Posts: 5,431

    Tom davison
    Member
    from Phoenix AZ

    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.
     
  28. Hyfire
    Joined: Jun 18, 2004
    Posts: 1,232

    Hyfire
    Member

    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.
     
  29. 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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