My wonderful wife and I were simply overwhelmed by the looks of this car from yesterday’s offerings at the Barrett-Jackson auction in Palm Beach, Florida:
This is a 1933 Packard 1002. According to Barrett-Jackson only 1,099 of these cars were produced. This number is confirmed in Encyclopedia of American Cars by the Auto Editors of Consumer Guide®. However, 11 body styles were available for the 1002 model in 1933 so the number of 2-door, 5-passenger coupes like this one that were sold is far smaller.
This car still has its original drivetrain, which was restored about 15 years ago. The first owner acquired the car in July of 1933. The 1002 was powered by Packard’s straight-eight engine of 320 cubic inches that produced 120 HP. The 5-passenger coupe had a price of $2,980. As a comparison, the most expensive 1933 Chevrolet cost $565. At the auction the Packard 1002 hammered at $65,000 meaning the buyer paid $71,500 all in.
As I have written before I had no interest in cars of this era as recently as five years ago. That has changed for sure. While I don’t know if I would purchase a classic pre-war car if I won the lottery, I don’t know that I wouldn’t, either.
Speaking of automobile auctions, I have often wondered what is the ratio of the median sale price to the average sale price. Well, at the Mecum auction in Arizona in March the median was 65% of the average. I have no idea whether or not the fact that most lots at Mecum are offered with a reserve changes that ratio. About 60% of the offered lots were sold.
One of my favorite cars from the Mecum Arizona auction was a car like this:
From topclassiccarsforsale.com a picture of a 1967 Buick GS convertible. This lot—once again, Mecum does not allow online photos of its lots to be captured so this is not the actual auction car—did not sell with a high bid of $20,000.
Buick produced 2,140 of these cars for model year 1967 which had an MSRP of $3,167. That price is not much more than the original price of the 1933 Packard sold yesterday at the Barrett-Jackson auction. The 1967 Buick GS had a 400 cubic-inch V-8 rated at 340 HP/440 LB-FT of torque.
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