Leake Auction celebrated its 45th anniversary as a collector car auction house last weekend with a three-day sale in the River Spirit Expo center in Tulsa, Oklahoma, featuring 599 lots, which sold at a 75 percent sell-through rate for a total of $8.2 million.
“Tulsa is our flagship sale and it is always nice to be in our home town,” Richard Sevenoaks, president of Leake Auction Company, said in a news release. “Celebrating 45 years in this business is a true honor.
“Mr. Leake (James Leake, Sevenoaks late father-in-law) created an avenue for the car collector to take cars from just a means of transport to a true hobby and business.”
That business remains a family operation, headed by Sevenoaks, his wife, Nancy, and their daughter, Audrey Young.
But while the company remains family owned, the sort of cars that are popular with bidders certainly has changed.
“Looking at the wide variety of vehicles on display this weekend, you can see the shift from the heavy-iron prewar cars to the sports, muscle and customs of the ’70s and ’80s,” Sevenoaks noted.
“The late-model high performance and exotics are carving out their own niche in the market as well. This is an indication of a generational shift in the age of new car collectors.”
The top three sales in the auction were modern supercars — a 2005 Ford GT sold for $305,250, a 2006 Mercedes-Benz SLR McLaren brought $250,250, and a 2012 Mercedes-Benz SLS AMG for $145,000. All reported results include buyer’s fees.
They were joined in six-figure sales by a classic cruiser, a 1960 Cadillac Eldorado Biarritz that sold for $129,250.
Another supercar — a 2007 Lamborghini Gallardo Spyder — hit $95,700. A 1956 Mercedes-Benz 190 SL brought $93,500, and the rest of the top 10s ales involved Shelby Mustangs and various Chevrolets from 1957-1967.
Leake reported that 25 vehicles were purchased in post-block transactions, including the No. 3 high-sale 2012 SLS AMG.
The sale included bids made through the IronPlanet website, coming from Australia and New Zealand, Costa Rica and Honduras, Dubai, England, Mexico, Canada and the Marshall Islands, according to Leake.
During the auction, the James C. Leake Award was presented to Howard Alger of Chanute, Kansas, “for his dedication and contribution to the collector car community.”
Top 10 sales, Leake Auctions at Tulsa 2017
- 2006 Ford GT at $305,250
- 2006 Mercedes-Benz SLR McLaren at $250,250
- 2012 Mercedes-Benz SLS AMG, $145,000
- 1960 Cadillac Eldorardo Biarritz at $129,250
- 2007 Lamborghini Gallardo Spyder at $95,700
- 1956 Mercedes-Benz 190SL at $93,500
- 1967 Shelby Mustang GT350 at $91,300
- 1967 Chevrolet Bel Air at $85,250
- 1970 Shelby GT500 Super Cobra Jet 428 at $84,700
- 1957 Chevrolet Custom at $83,600
- 1959 Chevrolet Corvette Fuelie at $80,300
(Prices include buyer’s fees.)
Leake’s next auction is scheduled for November 17-19 at Dallas.