About the cover, edition #25

Nov/Dec 2022 edition
Issue #25 AutoMobilia Resource Magazine
​Written by Sharon Spurlin

Michigan Attic Find 
Breaks Million Dollar Ceiling!

“Go big or go home.” This phrase may be heard often, but it’s rarely executed well. Few are willing to step up in a sizable way in any business – and perhaps less in the relative stepchild of the classic car world, automotive collectibles. But Richmond Auctions has done just that. In less than two years they have indeed gone big in this space, finding and selling an incredible number of investment-grade advertising pieces, including this record-breaking 48-inch Musgo Gasoline sign.

Auctioneer David J. Meares kept the excitement going!

Featured on this issue’s cover, Musgo Gasoline is considered by many to be the holy grail of antique advertising signs. Originally located in Muskegon, MI, the company is believed to have been open for less than six months in the mid-1920s. After Musgo’s demise, a plumber took over the building and repurposed most of the signs for use as septic tank lids. As you can imagine, the fumes did them in, destroying the down sides of the signs, while seasonal weather worked to damage the top sides. Very few, perhaps 20, were made, and only a handful of those are believed to have escaped the plumber’s unfortunate recycling plan

An “attic find,” much like a “barn find” in the classic car world, is where mint-condition signs are often found. This one spent most of its life lounging away in an attic somewhere in Michigan, just waiting to be discovered. When this NOS (New Old Stock) sign was found, Dan Matthews and Joey Whiteside from The Authentication Company were brought in and rated it at a pristine 9.5 and 9.25. This was the highest rating for a Musgo Gasoline sign ever, and Jordan Richmond knew in his heart that records were about to be broken.

Jordan Richmond, Seth Meredith and Mike Mccandless from Richmond Auctions.

When this sign was about to be auctioned, the highest hammer price known for an automotive advertising sign worldwide stood at $400,000. What could this one do? The day before the live auction, the Musgo had already reached $410,000 through website bidding – and excitement was building. Calls, e-mails, texts, social media posts and comments were reaching a frenzy. Then, on auction day, August 27, 2022, four major collectors vied for ownership. One dropped out at $900,000, and another dropped out at $1,100,000. The two remaining bidders slugged it out until the hammer came down at $1,350,000, plus buyer’s premium of 15%. The final winner would ultimately be paying $1,552,500 to hang this rare sign in his garage!
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Makes one wonder what could be hidden away in your own attic…?!? Richmond Auctions is planning its next auction for February 2023, and is currently on the hunt for quality consignments. More info at RichmondAuctions.com or 864-630-1137.

Sharon Spurlin
AutoMobiliaResource@gmail.com

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