Misallocation

1918 Pierce-Arrow Model 48 Coupe

Sold at Mecum Auctions on Sept. 20, 2025, offered with no reserve.

$41,800Confirmed

The price as reported by the house. Hammer price $38,000, before the buyer's premium. Read from the house's results Oct. 14, 2026.

The car

Year
1918
Make and model
Pierce-Arrow Sixes (Model 36, 38, 48, 66 and Series 31 to 81)
Generation
Sixes (Model 36, 38, 48, 66 and Series 31 to 81) (1910 to 1928)
Gearbox
Manual
Chassis
515435
Condition
Good (3)Likely

Condition is our reading of the listing's description on Hagerty's 1 to 4 scale, not an inspection.

Against comparable sales

Below the middle half of 3 comparable sales, 51% under its bottom.

Middle half of sales$57,500 to $95,000
Median$70,000
Sales behind it3Likely

From 3 sales of the Pierce-Arrow Sixes (Model 36, 38, 48, 66 and Series 31 to 81) (1910 to 1928) in our data over the last 24 months. Hammer prices, before buyer's fees. Half sold between $57,500 and $95,000.

Closest sales

Closest comparable sales
CarAuctionDatePrice
c. 1917 Pierce-Arrow Model 48 Five-Passenger TouringGooding Christie's, Sept. 20, 2025Gooding Christie'sSept. 20, 2025$120,000
1919 Pierce-Arrow Model 38 Five-Passenger Touring CarBroad Arrow, Aug. 14, 2025Broad ArrowAug. 14, 2025$70,000
1924 Pierce-Arrow Series 33 Enclosed Drive LimousineMecum, Sept. 20, 2025MecumSept. 20, 2025$45,000