More than $36 million, as it turns out. At least, that’s what bidders hailing from as much ameans as Europe and also Asia jointly agreed to pay Saturday for the late Los Angeles Times publisher’s arsenal at an Oxnard auction.
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For the record:
12:00 a.m. Oct. 26, 2006 For The Record Los Angeles Times Thursday October 26, 2006 Home Edition Main News Part A Page 2 National Workdesk 1 inches; 38 words Type of Material: Correction Chandler auction: An short article in Sunday’s The golden state section reported that 80 motorcycles and 90 automobiles owned by the late Otis Chandler were up for sale at an auction Saturday. The correct numbers were 42 motorcycles and 48 automobiles.
“This is just one of those good moments” for automobile collecting enthusiasts, said Larry Crane, the Thousand Oaks-based editor of Auto Aficionaperform magazine. “Otis didn’t collect just great cars; he accumulated the excellent cars.
“It’s not a large arsenal,” Crane sassist, “but it may be the a lot of essential arsenal for sale in a long time, and also maybe for a lengthy time to come.”
Saturday’s auction featured 80 motorcycles and also 90 automobiles extending a century of background, including a 1904 Mercedes 40/45 Sports Touring auto, which marketed for $2.4 million, and also a 1931 Duesenberg J Special Phaeton, which fetched the peak price, $2.6 million. Many kind of are incredibly rare: Chandler’s 1933 Packard 1006 Twelve Sport Phaeton, for circumstances, is among just 3 in the civilization, said David Gooding, president and founder of Gooding & Co., the auction manager.
Word of the sale motivated global attention. The agency allowed some bidders to monitor the auction by telephone, and also displays set up in the cavernous museum noted bid prices not only in dollars, but likewise in British pounds, euros, Swiss francs and also Japanese yen, according to company spokesmale Fred Hammond.
The auction damaged the document for a solitary collection sale on a solitary day, he said. The previous document was a 1990 auction, which earned $21 million.
Nine cars from Saturday’s auction sold for more than $1 million each, and also two marketed for more than $2 million each.
The initially edition of Chandler’s legendary arsenal started in 1968, as soon as he bought a 1931 Duesenberg for $35,000. Several years after selling that set of Cadillacs, Ferraris, Packards, Porsches and also others to accomplish the financial regards to a divorce negotiation, he started anew with an additional 1931 Duesenberg, buying it for $1.2 million.
By 1990, Chandler had actually inserted his arsenal in his Vintage Museum of Transportation and also Wildlife in Oxnard, the 45,000-square-foot building wbelow the auction was held. He later on lent some of his motorcycles to the Guggenheim Museum, which opened its “Art of the Motorcycle” exhilittle in 1998.
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Chandler, publisher of The Times from 1960 to 1980, is credited via transdeveloping the once-parochial newspaper right into among the nation’s finest. He died in February at 78.