1930 Duesenberg Model J auctions for $1.5m at Auburn Fall

A 1930 Duesenberg Model J has provided the top lot of Auctions America's 43rd annual Auburn Fall auction (August 29 - September 1) - the world's oldest car collector auction.

Crossing the block at the Indiana manufacturing facility where it was built three-quarters of a century ago, the vehicle hammered for $1.5m, in the middle of its $1.4m to $1.6m estimate, reports local newspaper the Journal Gazette.

1930 Duesenberg Model J Convertible Coupe
Featuring a highly coveted Murphy Convertible Coupe body style, this 1930 Duesenberg Model J sold for $1.5m

The car featured a highly desirable Murphy Convertible Coupe body style, and was built for a member of the renowned du Pont family - two factors that helped enhance its price.

"They're one of the most sought-after cars in the world," the auction house's Keith Koscak told the publication.

It came from the collection of Ross McEachran, a Canadian car collector of considerable repute.

A 1929 Duesenberg Model J Sport Sedan, one of only two built and which retained its original engine, chassis and body, sold for a hammer price of $875,000.

A 1935 Duesenberg Model SJ Dual-Cowl Phaeton hammered for $780,000.

The results build on a strong year for Duesenbergs.

In July, a 1929 Duesenberg Model J Dual-Cowl Phaeton sold for $682,000 at RM Auctions' St John's sale, as part of the Concours d'Elegance of America.

An outstanding example of the 1935 Model SJ made $4.5m as top lot in RM Auctions' Amelia Island sale in March.

The Auburn auction also featured the $73,000 sale of a 1970 red Chevy Chevelle SS LS6. Its new owner told the publication his financially-minded reasons for buying:

 "I'm a collector, and it's a car that you can put in a collection and just forget about it. It only has 380 miles on it," he said.

"It's a good place to park some money in a very rocky investment world."

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