Leake does $4.1 million on busy auction weekend

Leake debuted its new auction stage backdrop at its Dallas Spring sale | Leake photos
Leake debuted its new auction stage backdrop at its Dallas Spring sale | Leake photos

Sandwiched geographically between the big Mecum Auction in Houston and the semi-annual Branson Auction in Missouri, Leake Auction Company’s spring Dallas sale posted $4.1 million in business last weekend with 59 percent of the 497 lots selling.

“This was a busy weekend for the collector car auction world,” Richard Sevenoaks, Leake president, said in a news release. “In addition to our auction, there were two additional auctions taking place, which split our seller and buyer base. Despite this split, we had a solid auction. There were cars that out-performed our estimates and expectations.”

1954 Corvette resto-mod tops the sale
1954 Corvette resto-mod tops the sale

The auction also may have been caught in the gap between consignors’ expectations and the bidding reality of the current collector car marketplace. Six cars were bid into six figures but none of those bids reached consignors’ reserves, nor did any of the consignors release those reserves.

The top failing bid of the auction was $235,000 for a 2013 Ferrari 458 Italia convertible. Other six-figure no sales were for a 1989 Porsche 911 Turbo cabriolet, 2009 Rolls-Royce Phantom convertible, 1974 Porsche 911, 1989 Porsche Speedster and 1957 Chevrolet Bel Air “fuelie.”

The high sale of the auction was $88,000 (hammer price) paid for a 1954 Chevrolet Corvette resto-mod roadster.

The sale also showcased the debut of the new Leake auction set, an upgraded backdrop with a hard-wall design, enhanced special-effect lighting, LED screens with very clear displays, and new graphics.

Top sales, Leake Auction Company at Dallas, Spring 2016

  1. 1954 Chevrolet Corvette restor-mod roadster, $88,000
  2. 1968 Ford Shelby Gt350 convertible, $83,000
  3. 1969 Ford Shelby GT500 fastback, $72,000
  4. 1963 Chevrolet Corvette split-window coupe, $67,000
  5. 1964 Lincoln Continental convertible, $60,000
  6. 1999 Chevrolet Corvette commemorative convertible, $60,000
  7. 2016 Jeep Sport T-3 Kevstar Edition, $55,000
  8. 1962 Porsche 356 S90 coupe, $52,000
  9. 2015 Jeep Wrangler Unlimited 24 Special, $50,000
  10. 1969 Chevrolet Camaro Yenko re-creation, $50,000
  11. 1977 Pontiac Firebird Trans Am SE, $50,000
    (Hammer prices do not include buyer’s premium.)

 

Leake now turns its focus to its flagship sale, June 10-12 in the River Spirit Expo in Leake’s hometown of Tulsa, Oklahoma.

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