Leake posts record $12.5 million at OKC auction

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Low-mileage Ford GT from Tom Falbo Collection tops the sales chart at Leake's OKCity auction | Larry Edsall photos
Low-mileage Ford GT from Tom Falbo Collection tops the sales chart at Leake’s OKCity auction | Larry Edsall photos

With the Tom Falbo Collection of some 100 cars, among them 40 vintage Chevrolet Corvettes, generating $4.5 million in sales, Leake Auction Company shattered its records for its annual Oklahoma City auction last weekend, posting more than $12.5 million in transactions.

The Falbo cars all were offered with no reserve, as were about 100 other vehicles on Sunday, the third and final day of the auction.

The company posted an 82 percent sell-through of the 551 vehicles that went across the block.

1967 Chevrolet Corvette L89 convertible on the block. It sold for $183,700
1967 Chevrolet Corvette L89 convertible on the block. It sold for $183,700

Based on price, 29 of the top-30 cars sold in Oklahoma City were from the Falbo Collection.

“We knocked it out of the park with the Falbo Collection,” Richard Sevenoaks, Leake president, said in a news release. “By bringing in large car collections like this, we are taking our auctions to a new level. In doing so, we are attracting a larger buyer base not only in the United States but also internationally.”

Bidders were present from Australia, Canada, France, Germany, India, Italy, New Zealand, Norway, Panama, Sweden and the United Kingdom, Leake reported.

While Corvettes from the Falbo Collection dominated the auction, the highest price paid at the three-day event was the $303,600 (including buyer’s premium) for the ex-Falbo 2005 Ford GT.

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Top 10 sales, Leake Oklahoma City auction 2016

  1. 2005 Ford GT, $303,600
  2. 1967 Chevrolet Corvette L89, $183,700
  3. 1967 Chevrolet Corvette, $173,250
  4. 1967 Chevrolet Corvette, $129,250
  5. 1969 Plymouth Road Runner, $126,500
  6. 1967 Chevrolet Corvette, $121,000
  7. 1967 Chevrolet Corvette, $110,000
  8. 1954 Chevrolet Corvette, $99,000
  9. 1967 Chevrolet Corvette, $99,000
  10. 1967 Chevrolet Corvette, $97,000

(Prices include buyer’s premiums.)

As the Oklahoma City sale began, Leake announced a new auction on its 2016 calendar, September 9-10 at the MotorCity Casino Hotel in Detroit.

“Adding another auction to our lineup has been in the works for quite some time,” Sevenoaks said. “When the call came in from MotorCity Casino Hotel, we had a good feeling that this was the one. We are looking forward to bringing a new car auction to Detroit.”

In the meantime, Leake has an auction scheduled for April 15-17 at Dallas Market Hall in Texas.

 

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A former daily newspaper sports editor, Larry Edsall spent a dozen years as an editor at AutoWeek magazine before making the transition to writing for the web and becoming the author of more than 15 automotive books. In addition to being founding editor at ClassicCars.com, Larry has written for The New York Times and The Detroit News and was an adjunct honors professor at the Walter Cronkite School of Journalism and Mass Communication at Arizona State University.

1 COMMENT

  1. You should add a minor detail to the Corvettes listed, namely which engine they had. Otherwise it’s meaningless to list “1967 Corvette” over and over.