No-Reserve 1960 Cadillac Series 62 Convertible Rolls Out of Alabama Storage

A black-over-red 1960 Cadillac Series 62 convertible is currently up for grabs at no reserve on Hagerty Marketplace, one of more than 250 vehicles emerging from long-term storage as part of the second chapter of the Generous Collection. Bidding on the Jasper, Alabama car had already climbed past $20,000 with 24 bids and six days still on the clock, proof that even a sleeper with a few known gremlins can draw a crowd when the reserve is waived.

This particular example wears its original black paint over a red vinyl interior and rides on 15-inch steel wheels with full covers. Under the hood sits Cadillac's 390-cubic-inch V8, backed by the brand's smooth-shifting Hydra-Matic automatic. The car shows 88,100 miles, though that figure is unverified given its decades in storage, and it still carries plenty of period-correct equipment including power steering, power windows, power hydraulic drum brakes, and a pushbutton AM radio. The chassis tag decodes as 60F057718, with the F designating it as a Series 62 convertible built in the 1960 model year. Like many long-dormant cars, it has a short list of gremlins to sort out before it hits the road again: the power top motor is currently inoperable, the clock doesn't run, and the trunk key has gone missing somewhere along the way.

The car's backstory is arguably as interesting as its sheet metal. It's part of the Generous Collection, amassed by Alabama businessman Greg Rusk, who built his fortune in the cardboard industry and reportedly paid above-market prices to rescue interesting cars for friends and neighbors in need. After sitting untouched for years in silent storage, the Rusk family is now sending the collection back out onto the road in waves, and Motorious covered the opening act in our rundown of how the Generous Collection is unloading 268 no-reserve cars after decades of storage. This Cadillac is part of round two, alongside more than 130 other cars being handled by Broad Arrow specialists.

Design-wise, the 1960 Series 62 rode on the heels of Cadillac's dramatic 1959 redesign but toned things down a notch. The wild dual rocket taillights were gone, the tailfins were trimmed back, and the taillights moved into the rear fender caps, giving the 1960 a cleaner, slightly more restrained look while keeping the full-width grille and unmistakable jet-age presence. Buyers could choose from a convertible, a coupe, or four- and six-window sedans, and Series 62 production for the year topped 79,000 cars.

So where does that leave this car on the market? According to Hagerty Valuation Tools, a 1960 Cadillac Series 62 convertible in #3 (Good) condition currently carries a price guide value of roughly $77,200, which gives bidders plenty of room to run before this no-reserve example reaches fair-market territory. Recent public sales tracked by the same tool show just how wide the spread can be: a 1960 Series 62 changed hands for $112,750 at Mecum Auctions in July, while a rougher 1960 example sold for $37,275 on Bring a Trailer the same summer. Hagerty's data also notes that the more flamboyant 1959 Series 62, with its towering fins, has soaked up most of the restoration attention over the years, which ironically means well-kept original 1960 cars like this one can be easier to find than clean '59s. Given the known needs list on this particular car, a final sale price toward the lower end of the range would track with what the guide suggests for a driver-quality convertible still sorting out some age-related issues.

The sale is being facilitated by a Broad Arrow specialist, the same auction house arm of Hagerty that has been busy this month with other notable consignments, including the Rockefeller-owned 1914 Stutz Bearcat headed to auction with a $2 million estimate. Broad Arrow will handle payment, taxes, and title work directly with the winning bidder once the gavel falls.

Bidding on this Cadillac closes Tuesday, September 1 at 3:42 p.m. EDT. Buyers can't retrieve their winnings until mid-September, when a Broad Arrow representative will be onsite in Alabama, so patience is part of the deal alongside the fins and chrome. For readers who like their classic convertibles with a side of storage-barn intrigue, our recent look at the 1957 Ford Thunderbird Baby-T that also rolled onto Hagerty Marketplace is worth a read too.