1948 Tucker 48 Torpedo Sedan

This price can be explained by the “ABC” factor—Aging Billionaire Collector. Such buyers can’t wait another 20 years, so they pay whatever it costs

by John Apen

Preston Tucker’s promise of “the first completely new car in 50 years” struck a chord in the hearts of the public in 1948 and again with the release of Francis Ford Coppola’s 1988 movie.

Although his company produced just 51 cars, Tucker’s legacy is much larger. Tucker was close to the innovative Harry Miller, so while the Big Three were face-lifting prewar models in 1946, Preston Tucker produced an entirely new car.

Tucker acquired the enormous Dodge aircraft engine plant in Chicago, built two full-size clay mockups and selected the best features from each one. A metal prototype, affectionately dubbed the Tin Goose, was unveiled on June 19, 1947.

Tucker’s own 589-ci flat-6 engine proved noisy, underpowered, and required multiple batteries to start, so his engineers adapted the 335-ci Franklin helicopter engine. Their water-cooled version produced 166 hp and delivered 372 ft-lb of torque, while weighing a mere 322 pounds.

Tucker had...