A rare 1948 Tucker to be auctioned this weekend by Gooding & Company could fetch more than $2 million, according to President and CEO David Gooding. “It is considered one of the most original Tuckers there is. It has a completely original interior. It's been beautifully preserved,” Gooding said.
The Gooding & Company auction is just one of several that take place during the Barrett-Jackson auto week in Scottsdale, Arizona. Gooding & Company is among the premier collector car auction houses in the United States and is the official auction house of the prestigious Pebble Beach Concours d'Elegance.
Gooding says finding cars like the rare ‘48 Tucker is one of the great joys of his business. “That's what we love doing is searching out these cars,” he said. “We travel the world. And when we can find a treasure hidden away in a basement or in a barn, or somebody's locked away in their garage, that's what we enjoy doing and bringing them out to market.”
72 years old but still new
The Tucker company’s historic demise was the subject of the 1988 movie “Tucker: The Man and His Dream.” The 1948 Tucker up for sale at the Gooding auction, chassis number 1034, was the 34th of 51 Tuckers built 72 years ago. It was sold in 1950 as part of the company’s bankruptcy liquidation for $2200 when it had just 339 miles on the odometer.
Today the ‘48 Tucker has roughly 6,200 miles on it and is almost entirely original, according to Gooding. “The interior is spectacular and original. And that's quite rare for these cars because oftentimes they got neglected and sort of abused over the years. And this car has been beautifully preserved. And it's one of the few that does have its original interior,” he said.
Gauging the collector car business
The Scottsdale auctions are the first of the season in the collector car world and offer a gauge of where the market will head in 2020. “You know, there certainly are gonna be records in segments,” Gooding said.
Gooding sales at last year’s Scottsdale auction totaled $48.2 million, just a little less than the $49 million sold the year before. Gooding told Yahoo Finance’s On the Move the market for collector cars started to slow in 2019. “Pebble Beach prices were down, but still very strong. And, you know, I think we feel very good about today's sale. We will see. The proof is in the pudding. The great thing about the auctions is none of us really know how they will do,” he said.
The ‘48 Tucker could be a bellwether for this year’s market, Gooding says — especially if it sells for more than $2 million. But he says the real payoff is keeping historic and rare cars on the road. “So it's fun when you can discover them and share them with other car enthusiasts,” he said.
Adam Shapiro is co-anchor of Yahoo Finance’s ‘On the Move.’