Guest Mochet Posted February 27, 2012 Share Posted February 27, 2012 The Milhous collection was sold last weekend by RM/Sothebys. The Oldsmobile LImited brought $3,300,000. Here is a list of results. I also collect mechanical music, and the results there were very strong (ie; I didn't buy anything). Any Forum members there? Steve said he was going, I think.Phil Link to comment Share on other sites More sharing options...
Steve Moskowitz Posted February 27, 2012 Share Posted February 27, 2012 I was there! Amazing to see the collection and get a tour before the auction. A highlight was having Mr. Milhous explain some of the musical instruments and listening to them being played.The prices were over the top for the most part. I will never forget this auction!Sad the Limited did not come to PA as it was earnestly bid up to the 2.9 figure. Just an extraordinary event. Link to comment Share on other sites More sharing options...
Pomeroy41144 Posted February 27, 2012 Share Posted February 27, 2012 Where I come from, one can buy three 1936 Ford Roadsters for $192,500. Link to comment Share on other sites More sharing options...
old car fan Posted February 27, 2012 Share Posted February 27, 2012 Steve,the Olds is not in your garage?Where did the Olds go? Link to comment Share on other sites More sharing options...
Luv2Wrench Posted February 27, 2012 Share Posted February 27, 2012 http://www.sportscardigest.com/wp-content/uploads/The-Milhous-Collection-Official-Results.pdfThese results are in US dollars? Really? Link to comment Share on other sites More sharing options...
trimacar Posted February 28, 2012 Share Posted February 28, 2012 Holy high rollers, Batman. Those prices are through the roof.........incredible.....Did the carousel sell, I didn't see it on the list? Link to comment Share on other sites More sharing options...
Guest Mochet Posted February 28, 2012 Share Posted February 28, 2012 Carousel brought $1,207,500.Phil Link to comment Share on other sites More sharing options...
old car fan Posted February 28, 2012 Share Posted February 28, 2012 Where did the olds go?Anyone know? Link to comment Share on other sites More sharing options...
1937hd45 Posted February 29, 2012 Share Posted February 29, 2012 I never saw the auction notice, or a catalog. Looks like Vintage Race Car sold well. Link to comment Share on other sites More sharing options...
Steve Moskowitz Posted February 29, 2012 Share Posted February 29, 2012 Bob, not sure you can call it a catalog....more like a great work of art. There have been several posts on the forum about the auction including video of the collection. You can access a lot of it on YouTube.So far, I do not know where the Olds went but since I have an important piece to go along with the car I am "efforting' that...Yes, the '36 Ford price was a stunner...lots of other stunning prices including the $72,000 for the Chevy sign plus commission! Link to comment Share on other sites More sharing options...
sambarn Posted February 29, 2012 Share Posted February 29, 2012 Wowie - Zowie!!! Marmon 16 - $522,000!!! Link to comment Share on other sites More sharing options...
trimacar Posted February 29, 2012 Share Posted February 29, 2012 Proof that quality sells.What an interesting problem to have though, think of this from the seller's perspective.39 million dollars, plus or minus. Minus auction commission of course, then taxes on gains. They would have had to keep exact records of what was paid for what item, then go back and figure the gains on each item and pay tax. Too much money and too public to play any games with it.I had a friend (now deceased) who had about 50 Classic cars. He could pull out a file and tell you, to the penny, how much he had in each one. Nothing was left out, every cotter pin and light bulb accounted for. How many of us can say that we can do the same? Link to comment Share on other sites More sharing options...
Matt Harwood Posted February 29, 2012 Share Posted February 29, 2012 The catalog itself was simply stunning. A giant, inch-thick 11x17 book full of luscious color photographs. I'm glad I registered just to have a copy of it. The costs just in preparing that book must have easily been tens of thousands of dollars.The prices really were over-the-top on many of the cars, and I'm at a loss to explain why except that perhaps it was a combination of auction fever and someone wanting to be able to claim they own a Milhouse car. This was one of those once-in-a-lifetime events that was truly as amazing as it seems. Big money, but wow, what a show! Link to comment Share on other sites More sharing options...
FUHRMAN71 Posted February 29, 2012 Share Posted February 29, 2012 Holy Cats! Good for the brothers, but Holy Cats! Link to comment Share on other sites More sharing options...
Steve Moskowitz Posted February 29, 2012 Share Posted February 29, 2012 Matt, you are not even close to the cost of the book!! You need to go into the 6 figure category! I don't have the right to divulge the cost but I did ask as I know what it costs to do our printing of Antique Automobile I could not fathom what this book was and was very curious. RM has a great staff and their eye for art direction is spectacular. Link to comment Share on other sites More sharing options...
1912Staver Posted February 29, 2012 Share Posted February 29, 2012 As entertaining as auction results like this are they realy have nothing to do with the old car hobby. The cars and other artifacts are stunning but one might as well be looking at a catalog of super yachts or corporate jets. I somehow doubt many of the bidders at this auction have much in common with the typical member of this forum. I prefer to concern myself with objects that are worth less than a multiple of the price of my home, and that a owner will have more involvement with than writing out a cheque. I suppose results like this are the best proof that like it or not most of us can't afford to participate in the old car hobby except at the most basic level. I hate to get political but this seems to be the sort of thing that the 99% vs 1% movement is all about.Greg in Canada Link to comment Share on other sites More sharing options...
R W Burgess Posted February 29, 2012 Share Posted February 29, 2012 As entertaining as auction results like this are they realy have nothing to do with the old car hobby. ....I suppose results like this are the best proof that like it or not most of us can't afford to participate in the old car hobby except at the most basic level. I hate to get political but this seems to be the sort of thing that the 99% vs 1% movement is all about.Greg in CanadaI disagree Greg! It's antique car enthusiasts like these that help perpetuate our hobby. Many of these people donate heavily to different clubs, museums, and car groups to show their love for the hobby. I would imagine that most do not even want their name in lights as they do this. That's just the kind of people that they are.Be happy that they are able to do this for the rest of us that are not so fortunate!Wayne Link to comment Share on other sites More sharing options...
1912Staver Posted February 29, 2012 Share Posted February 29, 2012 Thanks Wayne for reminding me that there are many dedicated; old car community minded, wealthy individuals out there. I am afraid I do tend to get overly stereotypical when I see evidence of the sort of wealth some have at their disposal. Probably a bit of a mix of jealousy and frustration. I realise that organizations such as the AACA benefit enormously from the assistance wealthy individuals provide. And I agree that for every ego conscious participant there are several quietly enthusiastic well healed Gentlemen and Women . Best return my attention to positive things like the start of the swap meet season, and what move to make next on my own project. Given enough time and effort the pieces of the big metal jig saw puzzle do come together.Greg in Canada Link to comment Share on other sites More sharing options...
trimacar Posted February 29, 2012 Share Posted February 29, 2012 One must remember that having scads of dollar bills at one's disposal doesn't preclude the fact that one might really be passionate about the love of early automobiles.Not a problem I've ever had, of course, if I hadn't acquired some of my cars in the ancient times (back when you had to dodge dinosaur poop on the road), I surely couldn't afford them now.I've met dealers who love cars, I've met dealers who just love money. The same is true of collectors. Some love the beauty of the early automobiles, some just love the attention and want the best of the best.Here's an example of collecting just to say "I've got the best".I happened to be in the office of the father of a friend of mine, and we were talking hobbies. I had a picture of a low mileage car I'd just bought, a 1956 Thunderbird. "What's it worth" he asked. I said gee, around $10,000. (this was a while ago). He went to one of three safes behind his desk, opened the middle one, took out a scrapbook size book (he collected postage stamp blocks, the upper corner of a sheet with 4 stamps and the plate number), and pointed to one block of stamps. "THAT'S worth $10,000" he bragged. "I've got the finest collection of stamp blocks in the United States. Can you say that about your car collection?" Well, no, I replied. "So, why do you do it then, if you can't have the best collection?" And he was serious. No love for the objects, but only a love for what they meant to other people.But thank goodness there are well to do individuals out there who truly do love the cars for what they are............... Link to comment Share on other sites More sharing options...
alsancle Posted February 29, 2012 Share Posted February 29, 2012 Some of the prices did not seem smart to me but to each his own.The ragging on the rich thing comes up quite a bit in the car forums. I think of the wealthy collectors I know personally and also those that are well known. ALL of them started with little or nothing. I can think of two that I know pretty well that both own or have owned multiple Duesenbergs as well as many many other very expensive cars. Neither of those guys had college degrees and both started life driving dump trucks. We should not look down on people because they are successful. Link to comment Share on other sites More sharing options...
R W Burgess Posted February 29, 2012 Share Posted February 29, 2012 .............. Neither of those guys had college degrees and both started life driving dump trucks. We should not look down on people because they are successful.Al, you mean there's hope for me, yet?Sorry, but you're correct, in the fact that what makes people happy in life is what's important. Most of my kids are hard chargers, but one, she's the "Career Student"!She's barely getting by, and I know Mom sends her money occasionally to keep her from starving. I recently asked her why she doesn't speed up a little and get on with her life. Finish your degree so you can get ahead in life.Her answer? "I'd rather be poor and happy, then be rich and unhappy!":)Ok, good answer! Like others have said here, there are two sides to every story!PS, did I say, we taught the kids to speak their mind?? Link to comment Share on other sites More sharing options...
Steve Moskowitz Posted February 29, 2012 Share Posted February 29, 2012 BINGO!!! Most are self made men.......... Link to comment Share on other sites More sharing options...
old car fan Posted February 29, 2012 Share Posted February 29, 2012 I also think the prices were crazy,but that's good for everyone.I think that's whats dictates the prices,for a seller.I think its a good thing for any collector.I am sure there was a ton of mad money out there,it was a fabulous collection. Link to comment Share on other sites More sharing options...
Matt Harwood Posted February 29, 2012 Share Posted February 29, 2012 Look at it from the other side:If you could afford them, would you buy one of these high-dollar cars?Of course you would. I yearn more than anything for a Duesenberg. I don't care if they drive like dump trucks with square concrete tires, I desperately want one. If I had $10 million in the bank, I'd probably be willing to spend 10-20% of my fortune to have an exceptional one. Link to comment Share on other sites More sharing options...
trimacar Posted March 1, 2012 Share Posted March 1, 2012 Matt, you're absolutely correct. It's all relative (and in some cases, who your relatives were....). And remember, some of the people spending a million bucks on this or that were spending fractions of a percent of their net worth. Point well taken. If I had it, I'd spend it.....but I'm happy, too, with my lot in life, and the ability to afford a few nice cars. Perspective is everything..........That said, I'm on the same train you are....lottery hits and I'm looking for a Duesy...what's still sort of "doable" in the D world, though, is owning a Model A...sure, big bucks, but more attainable than the later ones, and excellent cars that are now coming into their own, so to speak... Link to comment Share on other sites More sharing options...
1937hd45 Posted March 1, 2012 Share Posted March 1, 2012 Please add me to the list of people that admire people that have made it in the business world, and provided jobs and products for others. If they have a few Vintage Cars thats just fine with me. Bob:)Some of the prices did not seem smart to me but to each his own.The ragging on the rich thing comes up quite a bit in the car forums. I think of the wealthy collectors I know personally and also those that are well known. ALL of them started with little or nothing. I can think of two that I know pretty well that both own or have owned multiple Duesenbergs as well as many many other very expensive cars. Neither of those guys had college degrees and both started life driving dump trucks. We should not look down on people because they are successful. Link to comment Share on other sites More sharing options...
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