Misallocation

1931 Cord L29 Phaeton

Sold at Mecum Auctions on Jan. 10, 2026.

$148,500Confirmed

The price as reported by the house. Hammer price $135,000, before the buyer's premium. Read from the house's results Oct. 14, 2026.

The car

Year
1931
Make and model
Cord L-29
Generation
L-29 (1929 to 1932)
Gearbox
Manual
Chassis
FDA2308
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, 24% under its bottom.

Middle half of sales$168,000 to $293,000
Median$226,000
Sales behind it3Likely

From 3 sales of the Cord L-29 (1929 to 1932) in our data over the last 24 months. Hammer prices, before buyer's fees. Half sold between $168,000 and $293,000.

Closest sales

Closest comparable sales
CarAuctionDatePrice
1929 Cord L29 Convertible Phaeton SedanBring a Trailer, Aug. 18, 2026Bring a TrailerAug. 18, 2026$226,000
1929 Cord L29 Cabriolet and 1930 Cord L29 Convertible SedanGooding Christie's, March 7, 2025Gooding Christie'sMarch 7, 2025$360,000
1929 Cord L-29 Convertible Phaeton SedanBroad Arrow, Feb. 15, 2025Broad ArrowFeb. 15, 2025$110,000