Saratoga Springs, New York: home to mineral springs, thoroughbred horse racing and great attractions, like the Saratoga Automobile Museum in Saratoga Spa State Park.
The museum occupies a former spring-water bottling plant that was built in 1935. The car-adoring public was introduced to the collection in 2002. Its largest fundraiser is the annual Saratoga Motorcar Auction – the first of which was conducted in 2017. This year’s sale, September 22-23, was held on the grounds of the Saratoga Casino and Hotel on Jefferson Street, about 2.5 miles from the museum.
The event boasted three well-stocked preview tents, a tent for the auction with seating for about 300-350, as well as vehicles on display around the grounds. There were also a few vendors, food options, and more – all within strolling distance of each other.
Approximately 158 vehicles went up for bid and 35 pieces of petroliana for a total of 193 lots. Of those, 99 found new owners for a 49 percent sell-through. A 1971 Ferrari 365 GTC/4 was the auction’s top earner, fetching $308,000 while the bargain of the event was a 1999 Saab 9-3 convertible which sold for $3,850. The average sale price was approximately $27,000 and the total for the weekend was $2.8 million.
Hemmings was on hand for the Friday afternoon preview and for the Friday night auction which continued into Saturday. Here are a few of the vintage vehicles that stood out.
By The Numbers
Total Sales: $2.8 million
Sell-Through: 49 percent
Average Sale: $27,000
Top Sale: 1971 Ferrari 365 GTC/4, $308,000
Legend
- Condition: #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 same condition
*All prices shown for sold lots include the buyer’s premium. Unsold lots include only the highest bid, when available.
1936 De Soto Airflow
- Condition: Restored/#2+
- Reserve: Undisclosed
- Selling Price: $34,650
- Avg. Selling Price: $30,000
If you wanted a prewar American car that could pull in a crowd, this was it. Airflows are an unusual sight and this was a really nice example: smooth paint, great trim and beautiful, tufted-leather upholstery. The ’36 model year was the Airflow’s last gasp, but it gained a more conventional trunk that, while altering the car’s smooth profile, made it more practical and functional. Some lucky bidder took this De Soto home for $34,650 which seemed like a good deal for such a finished-looking car. But the seller made out here too: last year when this Airflow crossed the block in Saratoga, bidding stopped at $29,000 and the owner passed on the sale. An additional $5,650 was worth the wait.
1971 Ferrari 365 GTC/4
- Condition: Refurbished/#1-
- Reserve: Undisclosed
- Selling Price: $308,000
- Avg. Selling Price: $242,000
Here was the star of the show – appearing on promotional materials for the auction as well as being presented center stage at the preview – and for good reason. The car’s appeared to be in excellent condition and the seller was noted Ferrari expert, Richard “Dick” Fritz. At the preview, this GTC/4 was rolling on desirable Borrani wire wheels (with alloy wheels included in the sale), and the description said the car had been driven just over 16,000 miles from new. Its 4.4-liter “Colombo” V-12 was rebuilt at about 14,000 miles and the clutch was replaced at the time. According to the 365 GTC/4 registry, this car (VIN 14467) was listed for sale back in 2005 for $72,000. Eighteen or so years on, it sold for more than four times that, but right in line with what value guides say one in this condition is worth.
1976 Triumph TR6
- Condition: Refurbished/#2+
- Reserve: Undisclosed
- High Bid: $17,000
- Avg. Selling Price: $24,000
This tidy TR6 immediately caught our attention: good paint, nice top, excellent interior—we only noticed some pitted trim on the outside. The seller said the car had never been driven in the rain and had accumulated 37,000 miles during its fair-weather-only outings. Was that mileage original from new? Not specified. The 2.5-liter six was said to have powered this Triumph from day one though. When it crossed the block, the bidding stopped at $17,000 and the seller took his or her TR6 home. One price guide estimated an average price of more than $24,000. All things considered, the buyer was smart not to sell, but a more detailed description would’ve likely drawn more bids.
1941 Cadillac Series 62
- Condition: Restored/#1-
- Reserve: Undisclosed
- Selling Price: $71,500
- Avg. Selling Price: $55,000
If you’d come to Saratoga shopping for a Full Classic American convertible, you’d have been smitten with this Cadillac. It boasted nice black paint, flawless chrome trim, a fresh-looking cockpit (other than a cracked steering wheel rim) and signs that it had been driven a bit since it was restored. It was unusual in that it was sort of no-frills for such a stately car: it had cloth upholstery instead of leather (it said to have been built that way), and the 346 cu.in. was paired with a three-speed manual rather than the optional Hydra-Matic. There wasn’t a lot of information available, but that didn’t deter bidders. The $71,500 price should’ve made the seller happy, but the buyer got an unusual, highly desirable car for his or her money.
1953 Studebaker 2R5
- Condition: Restored/#2-
- Reserve: Undisclosed
- Selling Price: $24,750
- Avg. Selling Price: $24,000
South Bend’s 2R series haulers ran from 1949-’53 but, because Studebaker’s resources were limited, these same basic trucks soldiered on until 1959 with facelifts and model name changes. The 2R was the height of truck styling when new, and ½ tons like this one were a hit with buyers who scooped more than 100,000 in the model’s five-year run. This example was powered by Studebaker’s 80-hp, 169.6 cubic inch “Econ-O-Miser” engine paired with a three speed. It wore an AACA Senior badge from 2002 and its restoration appeared to have been done some time ago but was holding up. The selling price, just north of $24,000 was a good deal for the buyer and seller, landing slightly higher than the average.
1974 Volkswagen Karmann Ghia
- Condition: Restored/#2
- Reserve: Undisclosed
- Selling Price: $33,000
- Avg. Selling Price: $24,000
There was a lot of information available about this green Ghia: the consignor had owned the car for 34 years and was its second owner; it wore a three-year-old paint job; around the time the car was painted the fuel tank, steering box, front suspension bits and carpeting were replaced; the engine was rebuilt and updated with some SCAT performance parts; and a new set of Minilites were included as an upgrade to the stock wheels. This was a really presentable car with a nice interior that looked ready to drive, show off and enjoy as is. The estimated price range for a Ghia in this condition is in the neighborhood of $25,000-$40,000. Someone drove off with it for $33,000 which seemed like a fair deal for the buyer and seller.
1927 Studebaker Special 6
- Condition: Restored/#3+
- Reserve: Undisclosed
- Selling Price: $5,775
- Avg. Selling Price: $13,000
In good journalism form we’re not burying the lead here: this old Studebaker was a running, driving, prewar American touring car and it sold at no reserve for $5,775. Let that sink in: $5,775. Sure, the restoration work appeared to have been performed by a DIYer, but lovingly so. The color combo he or she chose was an acquired taste, whether accurate or not (we wouldn’t know). But the interior was pretty darn nice – certainly perfect for weekend jaunts, the local firemen’s parade or whatever. The auctioneer had to work the crowd a bit to get this winning bid and we hope it found another good caretaker.
1991 Toyota MR2 Turbo
- Condition: Original/#2-
- Reserve: Undisclosed
- High Bid: $32,000
- Avg. Selling Price: $24,000
Values for second-generation MR2s have been climbing steadily over the past few years. The most desirable of these cars, built from 1991-’95, are the turbocharged models like this one. The later cars are known for being a little easier to drive fast, due to suspension upgrades that made them less tail happy, but these cars are reliable and fun. This one had nice original-looking paint, good interior with some wear showing on the driver’s side seat bolster and it was riding on a set of Borbet wheels. The average for a ’91 MR2 is between $20,000-$30,000 according to popular guides. This one bid up to $32,000—which seemed like a fair offer—but the owner decided to hold out for another day.
1964 Imperial Crown
- Condition: Refurbished/#3-
- Reserve: Undisclosed
- Selling Price: $15,820
- Avg. Selling Price: $27,000
According to the Imperial Club, ’64 Crown Convertibles are scarce – only 922 were built. At a base price of more than $6,000 new, it’s understandable why. These are stately, luxurious cars and it’s easy to picture one, top-down, rolling down the Vegas strip as the hero car in a Hollywood film. This example, however, was best viewed from 15 feet away where the blistering body work, aged glass and worn top weren’t as noticeable. It would take an abundance of cash and dedication to restore this car, but the interior was pretty nice so if it runs, turns and stops reliably, it might be fun to just drive it around as is. Estimated values range from $14,000 on the low end to $62,000 on the high with an average of about $27,000. Someone scooped this car up for $15,820. That’s a pretty fair deal for such an unusual car – especially a two-door convertible.
1958 Mercedes-Benz 190 SL
- Condition: Restored/#1-
- Reserve: Undisclosed
- Selling Price: $118,250
- Avg. Selling Price: $128,000
This beautiful black 190 SL commanded the second highest price of the sale, changing hands for just over $118,000. Equally impressive was the fact that it was reported sold for $100,000 at the Saratoga Motorcar Auction in Naples, Florida, last year – so the seller apparently made a handsome profit. Condition-wise it looked to be one of the nicest cars offered, but there wasn’t a lot of information provided in the description. If the price guides are to be believed, this 190 sold at a discount with published averages ranging from $120,000-$140,000. If that’s the case, the buyer and the seller both made out here.
1958 Cadillac Series 62
- Condition: Restored/#2-
- Reserve: Undisclosed
- High Bid: $29,000
- Avg. Selling Price $50,000
This big two-door brought some ’50s panache to the preview and seemed to be attracting quite a lot of attention. The paint looked like it’d been applied recently but the exterior trim was showing its age in spots—though overall was in very good shape. The interior looked to have been treated to fresh upholstery and the cockpit appeared authentic except for an aftermarket stereo and speakers. Power adjustable seat, power windows, power steering and power brakes rounded out the creature comforts, while a Cadillac 365 V-8 and Hydra-Matic were still moving this luxury liner. On the block, the bidding stopped at $29,000 and the buyer declined—it was the right move.
1941 Chevrolet AK
- Condition: Restored/#3
- Reserve: None
- Selling Price: $33,550
- Avg. Selling Price: $25,000
One price guide says a 1941 Chevrolet ½-ton pickup is worth between $5,300 on the low side and $37,400 on the high side. Another says $8,550-$35,000. This one changed hands at Saratoga for $33,550 – putting it near the top of the range. It was a nice, old pickup but it looked to have been restored by a hobbyist to a driver-quality or local show standard. The interior was presentable, but the seat wore diamond-pleated upholstery. The bed wood was nice, but it was finished in urethane with stainless strips. There’s definitely nothing wrong with DIY restos or personal touches, but when something sells for a premium, you picture something different. Someone wanted this truck and was willing to pay for it.
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