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My brother and I went to the Mecum auction on Saturday. Generally, a nice variety of vehicles were being offered. Only two Packards, a 1948 Deluxe Touring Sedan and a 1941 One-Twenty Convertible Coupe. Both were nice looking cars, but the '41 was especially nice. It was displayed in the center ring being showcased with other noteworthy cars. It is a Texas car, but I did not remember it being at Salado. No photo of the '48, but here are a couple of the '41.

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Wow, that is a VERY handsome car!

And, wow, somebody got a good deal - it sold for $50,000

NADA Value Guide says Average Retail (good condition)is $41,100 and High Retail (excellent condition) is $73,300.

Isn't Mecum better known for their muscle car auctions?

Prewar packards are usually not record setters in Mecum's auctions. Last year in Seattle they had a beautiful 37 V12 Victoria convertible coupe for $150k IIRC. This past summer a 35 eight club sedan in Denver went for $22k before it showed up at a dealer in the midwest and changed hands for $39k. And there are a few more examples like that.
I remember a 39 120 convertible coupe (looking pretty nice in the pictures) this past summer in Michigan having a hard time finding a new owner at an asking price of $55k IIRC.
It seems as of lately that prewar packard prices are under some pressure.

That's a particularly nice-looking '41 120 convertible and IMO its presentation is enhanced by the running board "delete" option.