Me & My Car: Danville owner bought 1940 Buick convertible for $25

The first two Buick automobiles were built in 1899 and 1900, not by Buick Motor Co. founder David Buick but by an engineer named Walter Marr at the “Buick Auto-Vim and Power Co.”

David Buick himself wasn’t too interested in the car business, as he was doing well with his marine engine production company. He incorporated his company in 1903 and was financed by Benjamin Briscoe, a name that pops up in automotive history in several instances, including at Briscoe Automobile Co. in France and Nash Motor Co.

The first Buick made for sale was a 1904 two-cylinder-engine model. Buick Motor’s early success is often attributed to the valve-in-head engine known as the overhead valve engine. Billy Durant became the Buick’s general manager, was a great promoter, and Buick became the largest U.S. automaker. Along with Oldsmobile, Cadillac and Oakland (later Pontiac), Buick became the brand just below Cadillac in pricing and status structure.

Buick has built some beautiful and great models over its long history. From the 1930s through the 1950s and beyond, Buick was a real status car. If buyers had significant wealth (or pretended to), they would be more likely to buy Cadillacs; but if buyers had significant wealth but didn’t want to flaunt it, they would more likely buy Buicks.

In 2009, GM dropped Pontiac and Oldsmobile from the car lines for financial reasons. Many have wondered why they picked those two instead of Buick. I think it’s safe to say it all has to do with dollars. Buick is very popular in China. In 2020, for example, Buick sold 926,532 Buicks in China and 162,749 in America.

Our featured car today fits into the 1930s-to-1950s-time frame, a beautiful 1940 Buick Special two-door convertible. The owner, mechanically inclined Bob Coates, of Danville, bought this car in 1959. It was in poor condition, parked at a gas station in East Oakland. He says he liked the styling, which brought back memories of getting a new 1940 Buick coupe with his father.

The gas station owner offered to sell the car for $25, which was $10 more than the junk yard would pay. Coates, a student at the time, bought the car after borrowing $20 from his dad. The car ran but needed a lot of work. The body was in good shape, though, with just a couple of minor dents but no rust.

“In 1959-1960, I went into the Army and left the car at a body shop in Hayward. I told them to ‘Fix the car up. Take your time because I’m gone.’ When I came back, the car was done, but then I had to get a top. I got a white canvas top and some plain black seat covers, and it was ‘a pretty sexy car.’ ”

Coates is a patient man, and time marched on. He didn’t rebuild the engine until about 10 years ago, buying all new internal parts for about $2,000. In about 2002-04, Coates installed a period-correct interior and top on the car. He also redid the dashboard and instruments. This Buick runs great with a rebuilt 248-cubic-inch straight-eight engine rated at 107 horsepower.

It has a three-speed manual transmission mounted on the column, and it has turn signals as standard equipment, as Buick was the first company to include them as such. The very distinctive turn signals were mounted on the trunk lid with left or right flashing arrows. Front turn signals were added later.

Coates says 1940 3,564 Buick Special convertibles sold for $1,077, or about $24,197 in today’s dollars. That’s a bargain at today’s prices, but some of the options were very pricey for that year. A heater was $33 ($741 in today’s dollars), a radio was $63 ($1,415), a clock was $22 ($494) and a side-mounted spare tire was $47 ($1,056).

At any rate, this beautifully restored car looks like it just came off the showroom floor. Coates’ investment is fairly modest, as he has done most of the restoration work himself. He estimates the current market value of this car to be about $65,000 — not too bad for a starting investment of $25.

Have an interesting vehicle? Email Dave at MOBopoly@yahoo.com. To read more of his columns or see more photos of this and other issues’ vehicles, visit mercurynews.com/author/david-krumboltz.