This 1936 Cord 810 convertible phaeton, Lot 191, sold for $104,500, including buyer’s premium, at RM’s Amelia Island sale on March 10, 2012.
E.L. Cord’s remarkable automotive career began shortly after he graduated high school, when he was selling used cars on a lot owned by Earle C. Anthony of Packard dealer fame. After numerous other endeavors, he became a part-owner of a Moon distributorship in Chicago. His distributorship was soon selling 60% of the factory’s output, and as he was awarded additional territories, the commissions piled up. By 1923, however, it was time to move on.
Cord decided he wanted to manufacture automobiles. For him, the obvious choice was to acquire the Auburn Automobile Company, which by 1924 was in dire financial straits. The Chicago Gang, who owned the company, grudgingly accepted his terms, which included a buyout plan. With 700 unsold Auburns collecting dust on the back lots, he wasted no time in moving inventory piecemeal or in wholesale lots. His axiom, “Be different if you can’t be biggest,” was a harbinger of his plans for the future.
New design, new problems
The first production model of the 810 came off the line in January 1936, only 28 months after Gordon Buehrig’s unique styling ideas were first discussed. Due to hurried production, Cord owners became test drivers while the Auburn engineers worked frantically to improve numerous issues. Problems included a lack of rigidity with the open cars, transmissions that slipped out of gear, and a constant vapor-locking issue, which competing car companies exploited. Rain was also a concern, as complaints of leaking were common.
It is reported that 1,600 Cord 810s were produced, but only about 1,100 were sold. In October of 1936, the nomenclature was changed to 812, and the unsold 810s were renumbered and offered as 812s. A Schwitzer-Cummins supercharger was adapted to the Cord 812 engine, and they were identifi ed with external exhaust pipes covered in stainless steel tubing.
At the time, it was the fastest American car in production. But that was not enough to save E.L. Cord’s automotive empire, as the U.S. Securities and Exchange Commission was breathing down his neck, and he was unwilling to appear at their hearings. The Auburn Automobile Company filed for bankruptcy on December 11, 1937.
A needy example
The 1936 Cord 810 convertible phaeton offered by RM was wearing faux-supercharged external exhaust pipes, and upon close inspection, it was showing serious signs of neglect. The top was dirty, the rear taillight lens was broken, and the rear bumper was scratched and worn. The brightwork was wearing thin and the door sills had become badly pitted.
At first glance, I could point to RM’s sale of a 1937 Cord “Sportsman” for $385,000 at their recent Arizona sale and state this car was a relative bargain. But the two Cords are worlds apart in condition. A more realistic comparison would be the 810 phaeton that Auctions America by RM sold for $92,400 at their Auburn sale in September 2011 and the 810 phaeton that RM sold for $105,600 at their Auburn sale in September 2010. The latter car was rated 2+ by the ACC reporter on the ground, and I could only come up with a 3- rating here, so I have to call our subject car very well sold indeed.
Okay, our subject car was well sold at $104,500, but a 1937 812 SC “Sportsman” was fair at more than three times that. What gives? Well, the 812 is rare with only 64 produced, the lines are much cleaner and the 812 had many of the mechanical issues sorted out by the time it was introduced. An authentic “Sportsman” is on a pedestal that few Full Classics attain, and when offered, they far exceed the value of their less-desirable sibling. As such, both evaluations are realistic.
At this sale, I think the advantage went to the seller, while the buyer has a bit of a project on his hands
