57 Packard Wagon on "Chasing Classic Cars"

Posted by Keegan Chaput On 2010/10/6 23:02:58

Watched the most recent episode of "Chasing Classic Cars" and they featured a 1957 Packard Wagon which was purchased at an auction from a museum collection. The car had a total rotisserie restoration and then parked in the museum. The host of the show paid $45K and was into it for about $60k after fees and shipping etc.

About 9 months later, he decided to sell it at auction. He took it out of his storage facility and drove it to his shop. On the way there his brakes failed, pedal went to the floor. Luckily he was able to safely get the car stopped. They traced it to the Bendix and had it swapped out with a different rebuilt unit just in time to send it out for auction. He offered it with no reserve and ended up loosing money on the car.

I've been watching that show for a while. It seems like he never makes any money when he sells a car at an auction. He must make all his money as a consultant and restorer for his millionaire clientele.