Re: Packard-built Custom Car Records

Posted by Joe Santana On 2018/1/20 9:23:07

In doing a bit more reading, I learned that the severity of the '29 Crash did not really sink in (except for those who lost their fortunes in a day) for 2-4 years. Most people thought the recovery would be quick. We'd just bounce back, just as most people didn't expect the 2008 stock market collapse to take a decade to get back on its feet. So perhaps it isn't surprising that the first indication of greatly reduced prices on high-end custom cars didn't start until 1931 (See the GL letter dated April 7, 1931.) You could start dealing on a 734 Speedster Runabout at $5200 and probably get it for less judging from the tone of the letter. I think the Runabout MSRP was $6,000.

Therefore, I don't think the Sealy car was sold at a bargain price in July 1930. And since the Sealy's 13th wedding anniversary was July 8, 1930, the purchase and delivery to Mrs. Sealy, instead of Mr. Sealy, was not because it was the end of the production year, but because it was a timely gift.