Mid-February weather west of the Cascade Mountains in Washington State is usually damp and mild. This year was no exception. A light drizzle rain and overcast sky did nothing to dampen the enthusiasm of the collector car buffs attending the Silver Auctions winter event in conjunction with the Corvette Swap Meet at the fairgrounds in Puyallup, Washington.

Mitch Silver started the Auction Company back in 1979 when he put together his personal interest in car collecting and his profession as a college speech instructor. Over the years I have watched his operation grow from a small beginning to become a major player in the old car hobby. They now produce thirty auctions a year in ten western states and Canada. The auctions vary in size from small to huge. Their annual Hot August Nights extravaganza in Reno, Nevada is widely recognized as the nation’s premier collector car event.

During the past twenty-five years I have purchased and also have sold numerous cars through the Silver Auctions. My experience with them has been very good. I know them to be a firm with integrity. What they say you can take to the bank. I can think of more than one situation, in which a person not knowledgeable about old cars could easily have been taken advantage of, but the Silver Auctions people played it “straight arrow” and everyone was treated fairly.

Following are some highlights of the February 12 -13th Silver Auction in Puyallup, Washington. The smaller regional auctions such as this usually bring out some rare rolling stock and result in some incredible buys for the buyers and some surprising sales for the sellers. This auction was no exception. 41% of the cars offered were hammered down as sold. 124 cars crossed the auction block. Let’s take a look at some of the results.

It is not unusual to see some of the best buys of the auction take place very early before the crowd has gotten into the swing of things, or very late, when the buyers have thinned out. Car number one at this auction was a black 1983 Jaguar SJ6 4-door. Condition 2.0, it sold at $4,000. Not a bad buy when you consider that the Old Cars Price Guide lists the same car in condition 2.0 at $15,400. Even I would have been interested in bidding on this car if I had any idea that it was going to sell at such a low price.

Usually at the very start of the auction most qualified buyers are still wandering around looking at the array of possibilities, or hanging on to their money with some specific car in mind. This car had a reserve of $5,000, which the seller dropped to make the sale. Keep in mind that at an auction the seller is psychologically seeing the car as sold and gone. So, it is not uncommon for them to accept a bid that is much lower than what they might have hoped for.

Here is a little red coupe that most any car collector would love to own. It is a 1963 Mercury Meteor S-33. The seller brought it to the auction with a $5,000 reserve, but turned it loose to sell when the bidding stalled. It sold at $4,400. With a condition rating of 1.7 it was a beauty. The Old Cars Price Guide rates this car in condition # 2.0 at $8,400. What a buy! In the old car hobby you cannot plan on these lucky opportunities. You must buy when the opportunity arises. You need the patience of Job to wait for the right car to show up, but then you must pounce like a hungry leopard or you will see opportunity pass you by.

Next, here are a couple of baby-bird Thunderbirds that were brought to the auction by a well know restorer. This yellow 1955 T-bird came with both tops. Rated at 1.9 condition, it would have taken very little to put this car into top show condition. I observed some chips in the paint on the steering wheel. Other than that, I think that I would have rated it higher. The bidding stalled at $31,000 and it was a no-sale with a reserve price more like $39,000. Understandable when you consider that the Old Cars Price Guide rates a # 2.0 condition with both tops at $46,300.

The rose colored 57 Thunderbird was even more impressive. With a 1.5 condition rating it was bid up to $34,000. That was about 5,000 short of its reserve price of $40,000 and a no-sale. It is understandable that the owner chose not to part with it when you consider that the Old Cars Price Guide rates a condition 2.0 57 T-bird with both tops at $46,600.

Here is a Shay Replica of a 1929 Ford. It is the ideal car if you should want Model A “Wind-in-your-hair” nostalgia combined with modern mechanical running gear. Buyers bid this one up to $10,000 but the owner had a $15,500 reserve. I see similar low miles 1929 Shay Replicas at www.cars-on-line.com being sold in the $12,000 to $13,000 range. Perhaps the seller here had unreasonable expectations as to the worth of his car.

WDM

I am a member of the Pacific Northwest Region of the Lincoln and Continental Owners Club, so I was particularly interested in the light blue 1975 Lincoln Mark IV. It was owned by one family since new and looked pretty good except for the over-spray from the recent repaint. The owner brought the car to auction with a reserve price of $3,750, but sold it for the high bid of $2,150. It looked to me like a very solid and collectible car for such a small price.

Moving on to some General Motors cars, This 1964 Chevrolet Impala with a $13,000 reserve price sold for $12,600. Rated at condition 2.0, I think that this was a fair price for both the buyer and the seller. The Old Cars Price Guide rates this car at condition 2.0 at $18,900. It was the right color and a beautiful specimen both inside and out. It seems odd to me that a Chevrolet Impala will always outsell a similar condition Pontiac, Oldsmobile or Buick. But there are many more Chevy owners from the past that would like to relive their memories.

Now here is a car that was detailed and prepared for the auction in a manner that would impress anyone. This black 1978 Pontiac Trans Am looked like perfection to me. Rated by Silvers at 1.6 condition, I would have rated it much higher. The owner had a whole collection of trophies he had won at various car shows. It is interesting that the Old Cars Price Guide rates a number 1.0 condition similar car a $14,400 with the options. The car was bid to $14,000 but it was a no sale with the owner holding out for a $15,000 reserve. If I were a big Pontiac buff, I would have gladly paid $15,000 for this beauty.

Next we have a red 1970 Pontiac GTO. Condition rating was 1.7. The bidding stalled at $15,600 but the owner took it back home with his reserve price of $18,500. I think that I would agree with the owner. The Old Cars Price Guide rates a similar condition 2.0 car at $21,700. For these higher dollar cars such as the GTO you really need the right buyer(s) in the room that are looking to buy a car such as this. Apparently, they just were not there that day.

Wow! Here was a beautiful white 1960 Chevrolet Impala two door hard-top. With a condition rating of 1.5 there was not much more that you could ask for here. The bidding stopped at $21,000. The owner had a reserve price of $25,500 that he was looking for. Note that the Old Cars Price Guide rates this car at $22,100 if you split the difference between a condition 1.0 and 2.0. I think that the owner either had unrealistic expectations or that he really didn’t want to sell. Otherwise this little Chevy would have found a new home.

Want a little red Truck? You can’t get sportier that this little red 1972 El Camino Chevrolet. $9,000 bid didn’t meet with the owner’s approval. He was holding out for a little more than that. I know, I know, it’s all opinion, but I would have taken the 9K and felt good about it. But, the whole purpose of the auction is to get buyers and sellers together. Guess it just didn’t work in this case.

WDM

Now here is a collector car to please anyone. It’s a red 1967 Dodge Charger. You can almost hear them hollering “Yeee-haw” as they roar away in this one. Rated at condition 1.9, the only noticeable flaw was a big scratch/crease on the passenger side of the body. SOLD with a bid of $7,100, this was one that I would have gladly taken home for that kind of money. The Old Cars Price Guide rates a similar condition Charger at $18,900. I don’t know how anyone could lose money on this kind of a deal.

Hey, want to buy an appreciating asset at a dirt-cheap price? Sorry, you missed this one! This rare, rare, rare 1990 Chrysler TC by Maserati sold new for $38,000. With only 20,000 miles on the odometer it was perfection in every detail. This was the rare model with sixteen valves and a five-speed stick transmission. Maserati only built 200 of these. If you really really want one, sorry, they are not to be had. In this case… someone bought it for a measly $9,500. Stop! Thief! Don’t let them get out the gate! Guess it’s too late. This car should sell any day of the week in the 12 to 16 thousand dollar range. Well, you had your chance. Better luck next time.

Every one of these smaller regional collector car auctions has at least one “sleeper” that is a damn near give-away. Usually they tend to be an “estate” no-reserve car that some disinterested entity is trying to liquidate ASAP. So, here is the sleeper of this sale in my opinion. It is a like-new 1993 Metallic Black Cherry Corvette with only 17,000 miles on it. This car SOLD at $11,200. Can you believe an “as-new”

Corvette for the price of an Asian “econo-buzz-box?” Take my advice. Don’t go to one of these auctions without taking some serious money with you to buy. Otherwise you will kick yourself all the way home wondering why it is always someone else that gets the good deal.

If you have a 16-year-old driver in your household, here is the car for him. An eighty-four Corvette with 500 horsepower. Give the kid this car and within the week he will have lost his license and be safely walking. It was a no-sale with $7,000 bid and a reserve more like 11,000. I’m not sure how you could pass the emissions test with this rig in Spokane. But, then you could pull the engine and put it into that hot-rod you want to build and you would still have a free Corvette sans engine.

Here is the real Corvette lovers dream car. It’s a 1995 ZR1 with only 4,000 miles on it. This Vette cost well over $70,000 new. The Old Cars Price Guide rates it at condition 1.5 at $46,750. Bidding stopped at $28,000. The owner would have let it go for only $32,500 but there just wasn’t enough money in the room to meet that. Hey, this rare beast is showroom perfect. If you want one like this you will look a long long time before you find it at this kind of price. And, you couldn’t find a better color than resale red.

If you have been looking for something powerful and exotic to impress the neighbors, you couldn’t pass on this 1991 Lotus Esprit. With a turbo 360 horsepower engine it will top 165 miles per hour. Only 40,000 miles on the car… This car sold new for over $90,000. The bidding stopped at $15,000. The owner wanted $18,300 thus it was a no-sale.

Do you want a sporty car that says “quality, performance, prestige, exclusive?” Here it is. This 1988 Mercedes 560SL in metallic gold has it all. AMG ground effects and fancy wheels. Low, low miles… about 44,000 I think. Originally purchased by the owner of the Seattle Seahawks. This car SOLD for $22,500. That’s about the kind of money you would blow on a Ford Focus. The owner dropped his $25,000 reserve to make the sale. The Old Cars Price Guide rates this car at condition 1.5 at $34,850.

If you really want to sell your collector car, you need to put it in front of serious qualified buyers. Or, if you really want to find that perfect dream car of your youth, don’t do what this man is doing with his sign. You need to locate the present owner who is motivated to sell. You can accomplish this by going to: www.silverauctions.com. Check out their calendar of up-coming auctions. You just might find your dream car at a very attractive price.

WDM