J. Wood & Co.’s Cuba, Missouri, Auction Blows Past Expectations


| 6/25/2015 2:57:00 PM


Tags: J. Wood & Co., Richard Backus, auctions, events,

The J. Wood & Co.'s auction in Cuba, Missouri

On May 7-8, 2015, auctioneers J. Wood & Co. sold off the amazing collection of vintage motorcycles and parts amassed by a Vietnam vet from the Cuba, Missouri, area. According to Somer Hooker in his excellent article on the sale on gizmag.com, the “collector” started amassing and hording complete bikes and parts following his return from Vietnam. As the years passed, the horde grew, filling his barns, his house and covering his rural property. When Jerry Wood and crew went to examine the collection after the collector was declared mentally incompetent by his family, who then had to determine if there was any value in the rust they saw, he simply couldn’t believe how extensive it really was.

The J. Wood & Co.'s auction in Cuba, Missouri

Although though they needed a lot of work to make perfect, this matching pair of 1972 Suzuki GT750 water-cooled triples went for $5,300 each, or $10,600 total.

Cuba locals — including the collector’s brother — were convinced the collection was only so much junk. The collector’s estate went to probate, and the judge, not wanting to spend any more money than necessary, suggested they simply call in a scrap yard – and they almost did, as they had no idea what they were sitting on.

On his first inspection, Jerry Wood thought the sale might net as much as $100,000. Continuing his inventory of the horde, he raised that to $300,000. The final results? $876,000, a number that climbs to almost $1,000,000 with buyer’s premiums thrown in. Importantly, it all sold with no reserve. “These prices are the new prices. They represent the real time value” of the bikes and parts, Jerry says, adding, “I like doing real auctions, when the stuff’s really for sale. If people put a reserve on it, that’s not an auction, that’s a sale.”

coryh
7/10/2015 9:10:51 AM

I attended this auction and came home with a pretty decent '56 T110 Triumph. I very much hope that the previous owner of all these bike is being extremely well cared for.


jimb
7/3/2015 9:50:19 AM

Kind of makes you wonder exactly who was mentally incompetent





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