The controversial Tucker convertible was a no-sale at Russo and Steele's Scottsdale auction Sunday night.
Bidding reached $1.4 million on the one-off Tucker, but car owner Justin Cole apparently was unwilling to lift the reserve and the sale stalled. The reserve was rumored to be $1.5 million.
According to a press release issued by Russo and Steele Collector Automobile Auctions on their Web site, Cole guaranteed that his company will restore some minor damage caused by Thursday's high winds and rain, which collapsed several tents on the Russo and Steele site and damaged scores of collector cars.
In the announcement, the auction company said: "Following the severe storm that hit Scottsdale on Thursday night, the 1948 Tucker convertible was extremely fortunate that it only sustained minor damages. However, Justin Cole, President of Benchmark Classic Restoration, is providing the new owner with a guarantee that Benchmark Classic Restorations, a world-class restoration company, will restore 100 percent of the minor damages caused by the storm. Benchmark Classics was the original restorer of the 1948 Tucker Convertible, so is intimately familiar with the automobile and its restoration needs.
“'It is unfortunate that this freak storm occurred on Thursday but Drew and his team have done a remarkable job of getting things back in order,” said Cole. “Having only received minor damage, I am certain the Tucker Convertible will arrive to its new owner in pristine condition. I am thankful that no one was hurt and the auction will go on.'
The auction was scheduled to continue today in Scottsdale.
For additional information or images, regular updates will be made to the company website at www.russoandsteele.com, on the company’s Facebook page at http://www.facebook.com/pages/Phoenix-AZ/Russo-and-Steele/63384680796 or follow on Twitter @RussoandSteele.
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