Evaulating The Collector Cars Being Auctioned At RM Sotheby's Hershey Auction

The Eastern Division AACA National Fall Meet, known to and beloved by all simply as Hershey, has long also welcomed a distinguished auction hosted by RM Sotheby’s. This past year’s auction event took place on October 4-5 in conjunction with the Fall Meet at Pennsylvania’s “Sweetest Place on Earth,” and by all accounts it was a resounding success.

The 2023 Hershey sale happened in the famous Hershey Lodge, and while the event’s traditional celebration of prewar American cars continued, its top sale was an imported 1909 Rolls-Royce 40/50 HP Silver Ghost Roi des Belges “in the style of Barker,” which brought $698,500 against a pre-sale estimate of $800,000-$1 million. Other headlining hammer prices included $495,000 for the first production example of Hudson’s Italia coupe built by Carrozzeria Touring of Milan; $385,000 for a 1934 Auburn Twelve Salon Speedster; $286,000 for a 1908 Stanley Model F Side-Entrance Touring; and $187,000 for a V-12-powered 1931 Cadillac 370-A Roadster by Fleetwood.

RM Sotheby’s offered 137 vehicles and 184 automobilia lots at Hershey, the latter representing a wide range of rare and significant pieces of history that were offered at no reserve; indeed, only 39 of the 321 offerings had reserves. This explained why the auction house reported an impressive 96.33-percent total sell-through rate; broken out, the automotive lots achieved 91 percent. That last figure was up from the 89-percent automotive sell-through of 2022’s Hershey sale, although 2023’s total dollar values were a bit lower ($10.2 million vs. $10.3 million). The Ontario, Canada-based firm has numerous international sales on its 2024 docket, so stay tuned for further auction reports.

Legend

• Condition: Refurbished, Restored, Original, and Modified with appearance ratings of #1 = Excellent; #2 = Very Good; #3 = Average; #4 = Poor; #5 = Major Project.
• Reserve: Minimum price owner will accept.
• High Bid: The highest offer made (but the vehicle did not sell)*
• Selling Price: What the vehicle sold for*
• Average Selling Price: Average market value of vehicles in similar condition.

_{*Prices shown for sold automotive lots include the buyer’s premium of 10 percent. Non-motorcar-lot sales incurred a 15-percent buyer’s premium.}

By The Numbers

• Total Sales: $10,675,350
• Sell-Through: 96.33 percent
• Average Automotive Sale: $81,445
• Top Sale: 1909 Rolls-Royce 40/50 HP Silver Ghost Roi des Belges in the style of Barker, $698,500

FOR MORE INFORMATION:

• rmsothebys.com
• (519) 352-4575

1915 Ford Model T

RM Sotheby’s Hershey 2023 – 1915 Ford Model T

• Condition: Refurbished/#3
• Reserve: None
• Selling Price: $13,200
• Avg. Selling Price: $18,160

There’s never a shortage of Ford Model Ts available thanks to the pioneering classic’s ubiquity. That said, you won’t typically find one that blends original finishes and period-style upgrades like this characterful 1915 Touring from the Grand Canyon Collection. Its factory paint and brass were thought to be undisturbed, while the top and interior were replacements and it sported McLaren wire wheels, a Ruckstell two-speed rear axle, 12-volt electrics, and a fuel pump. Its hammer price was well below what classic.com considers the average value for this model, so we’ll consider it well bought.

1957 Dodge Custom Royal Lancer

RM Sotheby’s Hershey 2023 – 1957 Dodge Custom Royal Lancer

• Condition: Refurbished/#3
• Reserve: None
• Selling Price: $46,750
• Avg. Selling Price: $50,000

It’s believed this was one of fewer than 125 1957 Custom Royal Lancer convertibles built with the 285-hp D-500 hemi-head V-8 option. Its condition could be termed “mixed,” as the sub-62,300-mile Dodge wore a blend of factory and resprayed paint showing some rub-through and a few rust spots, as well as original chrome that was buttery in places, pitted in others. This car was no stranger to auctions, having not sold online in 2016 (top bid $33,957) and selling in 2017 at Mecum Kissimmee for $41,000. The listed average price via classic.com considers all body styles of this model between 1955 and ’59.

1930 Pierce-Arrow Model B

RM Sotheby’s Hershey 2023 – 1930 Pierce-Arrow Model B

• Condition: Restored/#1
• Reserve: None
• Selling Price: $132,000
• Avg. Selling Price: $156,300

Our notes for this Pierce-Arrow were succinct: “Flawless.” The handsome Model B Sport Phaeton was a former Pebble Beach and Meadow Brook Concours d’Elegance award winner that had been maintained in immaculate condition, with glossy paint and chrome and unblemished brightwork. Its gray leather upholstery showed nary a wrinkle, and the 6.0-liter inline-eight engine under its long hood looked very tidy. Because this was a no-reserve listing, the car hammered well under its $200,000-$225,000 presale estimate, as well as below the average selling price of an open-bodied 1929-’38 Pierce-Arrow Eight.

1949 Hudson Commodore Six

RM Sotheby’s Hershey 2023 – 1949 Hudson Commodore Six

• Condition: Original/#3
• Reserve: None
• Selling Price: $19,800
• Avg. Selling Price: $36,700

The somewhat disappointing financial result of this 1949 Commodore Six’s trip across the block could be attributed to it selling with no reserve, because the Hudson was a genuinely appealing piece of history. This heavily optioned sedan presented very honestly with aged paint, chrome, and tires; its 262-cu.in. L-head inline-six apparently enjoyed a commensurate state of preservation. The car’s interior attracted a lot of attention with tartan seat covers and venetian blinds on the backlite – not to mention the exterior rear-window wiper! This sale represented a big win for the Hudson’s new caretaker.

1932 Plymouth PB

RM Sotheby’s Hershey 2023 – 1932 Plymouth PB

• Condition: Restored/#1
• Reserve: None
• Selling Price: $37,400
• Avg. Selling Price: $26,400

While it didn’t have the wow factor of Ford’s contemporary V-8 cars, Plymouth’s PB was similarly powerful and attractive, especially in Sports Roadster form. This AACA National First Prize-awarded example was really striking in red-trimmed black with a rumble seat, twin side-mount spares, and flashy whitewall tires. It was restored in 1959, re-restored 41 years later, and remained in excellent condition with only minor wear to the seat. Helping this Mopar sell strongly was the note that proceeds would be donated to the Rotary Club of Grand Bend, Ontario, Canada.

1953 Lincoln Capri

RM Sotheby’s Hershey 2023 – 1953 Lincoln Capri

• Condition: Restored/#2
• Reserve: None
• Selling Price: $29,700
• Avg. Selling Price: $31,500

Open-top Lincolns were not built in big numbers in the early 1950s, and this 1953 Capri convertible was one of fewer than 2,300 to leave the production line that year. Scarcity enhanced the car’s appeal, and it presented very nicely: we only noted a bit of damaged paint, minor age in the dashboard, and some detail obscured when the chrome trim was replated. Underhood, the 317.5-cu.in. V-8 looked fresh, and the Capri’s three-tone interior and fabric top still impressed. This car brought $28,600 at auction in 2020; it got a bit more this time, nearing its $30,000 presale low estimate with bidder’s fees.

1912 IHC Auto Wagon Model MW

RM Sotheby’s Hershey 2023 – 1912 IHC Auto Wagon Model MW

• Condition: Restored/#3
• Reserve: Undisclosed
• Selling Price: $36,300
• Avg. Selling Price: $28,000

The Auto Wagons built by the International Harvester Company were the hybrids of their day, blending horse-drawn wagon and automobile traits. This late Model MW Delivery was a commercial version converted to carry passengers – called the “four-plus-pickup” style – and it presented well in what we’d consider driver-quality condition. The truck was shod with the correct solid tires on spoke wheels and inside it had a repositionable rear bench seat. Its water-cooled two-cylinder engine sported upgrades including a Bosch magneto. Five Auto Wagons have sold at auction since 2019, and this example beat the average by a tidy sum.

1956 Mercury Montclair

RM Sotheby’s Hershey 2023 – 1956 Mercury Montclair

• Condition: Restored/#2
• Reserve: None
• Selling Price: $35,200
• Avg. Selling Price: $57,400

The cheerful two-tone paint scheme and matching aqua/white interior of this 1956 Mercury Montclair convertible just screamed optimistic 1950s. Fewer than 31,000 miles registered on its odometer; the car was restored at an unknown date and came with service invoices covering the last five years. Power came from a 312-cu.in. Y-block V-8 and the car was rolling on bias-ply tires. Its demerits were minor and included some orange peel in the paint and oxidized bright trim on the instrument cluster and behind the continental spare. This car’s final price might still be considered a deal, even as it split the presale estimate down the middle.

1936 Packard One Twenty

RM Sotheby’s Hershey 2023 – 1936 Packard One Twenty

• Condition: Restored/#1
• Reserve: Undisclosed
• Selling Price: $90,200
• Avg. Selling Price: $74,350

This Packard One Twenty Convertible Coupe was lovely in every way. It was a 2019 AACA Grand National First Prize winner that had been restored from the ground up—with a paint-color change to year-correct Brighton Blue­—some two decades ago, and the car remained in show-ready shape. Its 120-hp inline-eight was tidy, the tan leather-upholstered interior and rumble seat compartment still looked fresh, and wide-whitewall bias plies set off the Packard’s restrained chrome trim handsomely. It was no surprise to watch this car handily beat its presale estimate and the average open-top-style sale price.

1948 Lincoln Continental

RM Sotheby’s Hershey 2023 -1948 Lincoln Continental

• Condition: Restored/#2
• Reserve: None
• Selling Price: $41,800
• Avg. Selling Price: $44,250

This 1948 Lincoln Continental convertible, one of 452 built in this generation’s final year, had been correctly restored to factory specifications and, under its most recent ownership, was mechanically refreshed in 2023 with special attention paid to its 305-cu.in. flathead V-12. We found the quality of the paint finish a bit wanting, but the car seemed otherwise nearly flawless. There were 16 first-generation Continental convertibles that sold at auction in the past year, and this example changed hands for a bit less than that average, a figure that dovetailed with the low-end presale estimate.

1931 Chevrolet Independence AE

RM Sotheby’s Hershey 2023 – 1931 Chevrolet Independence AE

• Condition: Restored/#1-
• Reserve: Undisclosed
• Selling Price: $25,300
• Avg. Selling Price: $32,200

In 1931, Chevrolet buyers arguably got more for their money than did those shopping Fords, as this rumble-seat-equipped Independence Series AE Sport Roadster showed. The OHV inline-six under its hood was a later Stovebolt fitted with twin two-barrel carbs, a special intake, and modern electricals. The attractive open car received a comprehensive restoration in the 1980s and was well maintained, showing only moderate wear in the brightwork and some paint damage on a front fender. We counted only four AE Sports Roadsters auctioned in the past five years, and their average was more than this one brought.

1953 Packard Caribbean

RM Sotheby’s Hershey 2023 – 1953 Packard Caribbean

• Condition: Restored/#2
• Reserve: None
• Selling Price: $63,250
• Avg. Selling Price: $64,300

The original Caribbean was a very special car for Packard, an exclusive and sporty flagship that was an acknowledged classic from day one. This example – one of 750 built for 1953 – was restored in 2005 and still looked beautiful with small exceptions: we felt the two-tone leather-upholstered front seat could benefit from a good cleaning and conditioning and noted some cracks in the cream-colored steering wheel as well as its plastic hub medallion. The 327-cu.in. inline-eight looked tidy, and the burgundy canvas top brought striking contrast. As of press time, this car was on offer with a $99,900 price tag.

1935 Ford Model 48

RM Sotheby’s Hershey 2023 – 1935 Ford Model 48

• Condition: Modified/#3-
• Reserve: None
• Selling Price: $143,000
• Avg. Selling Price: N/A

This was a fascinating curiosity: a unique boattail speedster blending a 1935 Ford flathead V-8 and other Model 48 components in modified contemporary German Adler Trumpf Junior Sport coachwork. Believed built in Argentina, the right-hand-drive roadster recalled the 1932 and 1934 speedsters designed for Edsel Ford by E.T. “Bob” Gregorie. While it impressed in photos, its condition had somewhat decayed, something the RM Sotheby’s catalog acknowledged by calling it a “patinated older restoration.” There was real interest in this custom and it sold well, albeit shy of its $200,000-$275,000 estimate.

1933 La Salle Series 345-C

RM Sotheby’s Hershey 2023 – 1933 La Salle Series 345-C

• Condition: Restored/#1
• Reserve: Undisclosed
• Selling Price: $151,250
• Avg. Selling Price: $123,150

Among the special vehicles displayed on the carpets inside the Hershey Lodge was this fetching 1933 La Salle Series 345-C Convertible Coupe with a rumble seat and golf-bag door. Its whitewall-shod, chrome-trimmed red spoke wheels provided an interior-matching pop of color against the subtle Fawn Beige and black body and fender paint. It enjoyed a recent, expensive restoration to factory standards and appeared virtually as new, though it was noted that the 353-cu.in. V-8 underhood wasn’t the original unit. While it couldn’t match a Cadillac Sixteen for prestige, this La Salle still had an “it” factor.

1912 Marquette Model 25

RM Sotheby’s Hershey 2023 – 1912 Marquette Model 25

• Condition: Restored/#3
• Reserve: None
• Selling Price: $38,500
• Avg. Selling Price: N/A

Historians associate the Marquette name with GM’s Buick division, and that was true of this one-year-only Touring-bodied Model 25, named for the contemporary Marquette-Buick race car. The impressive right-hand driver, powered by a brass-trimmed 40-hp, 6.8-liter T-head four-cylinder, was restored at some point. It remained in good condition outside and in, despite some visible wear in the paint and top incurred through use and storage. Not surprisingly, classic.com found no comparable sales for this model, and the no-reserve auction ended well shy of the car’s $60,000 to $80,000 presale estimate.

1934 Chevrolet Master

RM Sotheby’s Hershey 2023 – 1934 Chevrolet Master

• Condition: Restored/#3
• Reserve: None
• Selling Price: $33,000
• Avg. Selling Price: $18,500

While this DA Master was pretty with its open-top Sports Roadster body, its condition and color didn’t demand closer inspection. That’s a shame, as while a cursory glance might note unremarkable tan-over-brown paint, ill-fitting vinyl upholstery, and an engine modified for touring with a newer Carter carb, alternator, and more, you’d have to dig deeper to learn this car originated in Australia as one of 390 Sports Roadsters assembled by Holden in 1934; it left the factory with right-hand drive. The Chevrolet’s honest presentation and modern roadability helped it trounce the average selling price.