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tv   Strange Inheritance  FOX News  March 15, 2015 6:00pm-6:31pm PDT

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♪ ♪ jamie: i'm jamie colby, and i'm just driving into enid,
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oklahoma, which is about 90 >> i am jamie colby.bout 90 i am north of oklahoma population maybe 50,000. they have the third largest storage capacity for grain on the planet. wedged in between i -- en id's silos lies tank chorus legend. a strange inheritance. >> in 2003 my brothers and sisters and i inherited something unusual from my grandfather. his name was oliver jordan. he died in 95. he was a child of the decibel he held on despite everything that passed through his life a tin can an automobile a piece of copper wire. >> oliver jordan kept it all here for 60 years. this salvage lot was his home, his sanctuary, his fort knocks. >> hi, stewart. >> welcome to paradise. >> the rusted old cars in his
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shed some relics of the roaring 20's are a few of more than # 200 he accumulated over his lifetime. born in 1908 jordan was raised on a wheat farm but his real interest was the fabulous new invention, the car. >> grandpa was around machinery all of the time. automobiles were just beginning to happen. he got interested and it was a lifelong passion. >> jordan grows up, gets married an 34 years old abandons his wife and three young kids for a 16-year-old girl in town. >> when my mother and her brother and sister were still children my grandfather left the family for another woman. her name was ruby. that was quite a scandal. everybody was hurt by it. >> in 1946 oliver buys a salvage yard where he and ruby live and where he makes money selling old cars and parts. oliver runs the salvage yard
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successfully for 7 years, but then in 1953 he gets into a nasty argument with the town of enid over zoning and regulation, two words he de tests. >> the city wam in and told him he had to put in a bathroom and do other things. grandpa didn't like to be told what to do. >> he was not a rule follower. >> he said i will close the doors. that's what he did. >> he continues to horde old cars he cuts himself off from another family and rarely let's anybody inside the salvage yard. >> pretty much everything in the town would drive by grandpa's property and see the old cars siti sitting there. some thought they were an eye sore. >> brad waken eventually made his way over to the place as a car buff in the 1970s. >> i walked across the street, mr. jordan i am looking for a starter for a continental six
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cylinder engine. you have one? he basically said it's going to be $50. came back about a month later with my $50, he said, nope, 75. a little bit of horse trading at that point in time. >> as a boy stewart never gets to know grandpa oliver. stewart's mom oliver's daughter dies when he is only 6. a tragedy that separates him further from his grandfather. >> grandpa had all of these cars in front of his property. it is like a little boy's wonderland. he had it protect withed a fence and big mean dogs. we couldn't get past the dogs. >> did you ever wish he spent more time with you? were you curious about him? >> he was eager for the opportunity to get to know him. >> after his mother's death stewart and his family move
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away. when stewart graduates high school in 1984 he decides to take a summer road trip back to enid. >> i got a greyhound bus ticket went to enid. he took me to his shop. for the first time he got to spend time with my grandfather. >> and with all of the cars. they were heaps of scrap but he found this was his grandfather's pride and joy his collection. the two depression era cords. >> brand paw had a fascination with the cord because it had front wheel drive and they had done ingenious things under the hood. >> they head west to college and launches a successful furniture business in san francisco. then in the fall of 2000 a call from out of the blue sent stewart scrambling back to enid.
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>> he opens the door he is covered in head to toe with feathers. >> that's next. >> but first our strange inheritance quiz request. what was the lowest priced mass produced american car the 107 curved dash oldsmobile model t or studs fair cat? the answer what we return. did? try alka seltzer reliefchews. they work just as fast and are proven to taste better than tums smoothies assorted fruit. mmm... amazing. yeah, i get that a lot. alka seltzer heartburn reliefchews. enjoy the relief. that just tastes better. so fresh from the farm. delicious.
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>> >> for half a >> for half a century oliver jordan accumulates hundreds of old cars some very rare and mostly intact but they rust. in the fall of 2000 his grandson stewart gets a phone call that opens the door to a new relationship and to a strange inheritance. >> ruby, his companion of six years had fallen off a ladder and broken her hip and she was in the hospital. she called worried about grandpa because he was back at the house and he was 94 years old.
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that was the open door. >> it took until his 90's. >> yeah, because of who he was. he didn't want to need anybody. >> stewart hops on a plane to oklahoma not knowing what to expect. >> i knock on the door he's 6 foot 4 and even at 94 he has got quite a commanding presence. he opens the door and he's covered from head to toe in feathers. he and hubruby had a couple of s one dog tore up the feather bed. there was something about him that commanded respect even covered in feathers. >> seeing oliver in such a terrible state he decides to stay in oklahoma for a while and take care of his grandfather. >> i was getting to know my grandfather through these cars. he was proud to show them to me and experience his pride and joy. >> the two things become clear first oliver knows he doesn't have much time left and second he's worried about the fate of those cars. >> at one point he said, thank
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god for you. thank god for you. i think he was so worried about what would happen to his things. >> stewart is no car expert but he does his homework and confirms the center piece of the whole collection is the cords from the 1930's the one he remembers from his high school road trip. >> what did the last cords sell for? >> i am not sure. maybe 400 or 500 were ever made. >> best kate scenario. >> i am saying restored 300,000350 maybe. >> it leads him down a road that would take him a decade of travel and he lays out 10's of thousands of dollars to ship in secure containers and build a storage building to store the cars. >> it's his life's work and if they are valuable why are they rotting away here? somebody has to do something
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about it. >> in august of 2003 oliver jordan dies at the age of 95 leaving his automobile collection to stewart and his siblings. >> the original windows they would stick in the sides. >> he tells me the 1924 car is one of his personal favorites. the model was popular among bootleggers during prohibition. >> they would turn off the taillights if they were followed by someone. >> to hide the booze. >> that's correct. >> these cars represent a stip et of his collection. >> i have never seen anything like this stewart. there are so many cars. >> it is a strange thing to inherit. >> before he dies he gives stewart business advice. >> he said don't tell sell them all at once sell them one at a time. >> after trying to sell a couple on-line he realizes it would take the rest of his life to
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sell them one by one. just getting the title for all of these old cars takes months. >> you had to get titles to every single one of these cars? they are from the 30's. how do you do that? >> let me show you. >> first you have to find the car's id numbers. >> you can still read it. >> we had to polish it off. we were able to get titles for the majority of cars. >> the years click by like odom ster mriels and they spend more to authenticate the old cars. a plane trip to san francisco and back, too. by 2013 he says he invested 400,000 getting the collection primed for auction. ready or not it is time to sell. >> they mawent to the auction e to appraise the collection. is he sitting on a style of junk or is it a potential gold mine?
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>> they are mostly american cars they are prewar and pre1942. >> stewart and a vet made plans for a one-day auction right here in the salvage lot origins to spread about oliver jordan's old treasures. they learned it is not all together a good thing. >> we arrived in property tcut hole and stole over 250 antique radiators tons of chrome parts a lot of nice stuff. the an leak radiators alone are worth 40,000 dollars. the biggest loss for stewart is the theft of oliver's rare and beloved 1904 harley davidson possibly worth several hundred thousand dollars. >> it set us back and we had to hire additional security and
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move the auction forward. >> that has worshd of mouth advertising for him and seat of the pants hot rodding by me. >> that's next. >> here's another quiz question for you which of these celebrity's cars sold for heist bid at auction? steve mcqueen, marilyn monroe or james dean? the answer when we return. ing e. it's works, simple as that. it's a natural source of fiber and five essential vitamins. try sunsweet amazin prune juice. also available in light. i am totally blind. and sometimes i struggle to sleep at night, and stay awake during the day. this is called non-24. learn more by calling 844-824-2424.
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>> so which of these celebrity cars sold for the highest bid at auction? it's the actor steve mcqueen.
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in 2013 his ford gt-40 sold for $11 million. >> he auctioned off the strange inheritance hundreds of vintage cards his grandfather's lifelong ob sex had bach his own. he invested 13 years and 400,000 dollars in the collection. >> i watch up with him at the hot rod association rally in oklahoma city. >> my name is stewart. did you know my grandfather? >> while he works the crowd i am going to see if i can get behind the wheel of one of these souped up automobiles. >> i am jamie. >> i am steven. >> 37 chevrolet 77 years old. >> part of the family? >> yes, it is. >> oh my. i have gotten the keys. >> we can do that.
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>> sdouf this insured? >> yes, i do. >> hold on. >> whooo. now we are talking. >> the auction ear is here, too. >> you see these shiny red cars and you can tell it is a value here and some of them look like junk. >> they are not? >> they are a different trend in the car hopping hobby. that trend is called patina it refers to the factory original time. some car collectors relish that vintage barn find look and pray a clear coat of garnish on top to deserve it. that could be good news for the rarest car stewart has the two cords from the 1930's. the if you are like me you are
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wondering what they might look like restored. i didn't have to go far to find out. remember brad wakin who tried to buy a starter from oliver is a cord off fish in aed doe. he spent over 30 years restoring this cord. it is a stunning example of what a cord looks like in all its glory. >> we went through the engine. we painted it. fixed the interior. it is something we looked at restoring history not just putting on a nice paint job and chrome every time. (auction ear) >> it is finally the big day of the auction. >> we are going to fun and we are going to book. auction ear welcomes a crowd of at least 300 piem. >> hope i covered everything for you. >> all right. >> stewart's sister darla crosses her fingers. >> it has been a lot of hard
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work. i hope that stewart at least he gets back what he put into it and my other siblings what they have put into it they get back. >> all right guys. this was one of mr. jordan's favorite vehicles. >> stewart put in 400 grand? will he get it back? >> 35,000. >> i have 40,000. >> that's next. ght, so this tyll arthritis lasts 8 hours but aleve can last 12 hours. and aleve is proven to work better on pain than tylenol arthritis. so why am i still thinking about this? how are ya? good. aleve. proven better on pain.
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jamie: >> the buzz over oliver jordan's antique car option has brought collectors from all over the country to enid, oklahoma. some are looking to buy parts. others are here with plenty to spend for just the right vehicle. >> i came with a trailer and a pickup. if i have to i will run back and get a bigger truck and trailer to haul more cars. >>
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>> you have to be quick to purchase in this game. sm they can go in les than a minute. >> sold 900,000600 dollars. >> people come in good spirits. it's going pretty good. >> stewart is cautiously optimistic. his two beloved cords are about to go up for bids. >> stewart thinks they would each be worth 6 figures if fully restored. how much in this condition? >> 1937 cord 812 beverly super charge. this was one of mr. jordan's favorite vehicles. it is going to need every little piece restored. 35,000. >> i have 40,000. >> now 42.
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42. 42. 42-5. sold it 42,000 going to new york. >> what will the second cord get? >> what do you have? >> i got 20,000. >> 20,000. 21,000. 225. 22 and a half. 22, 5. sold at 22,000. >> it is over in seconds. anonymous telephone bidder paid 64,000 for both cars. stewart says he is not disappointed. >> in this condition that's a great price for them as much as we could have hoped for. it is great because they are going to move on. >> after an emotional day the grand total for this auction 540,000 dollars.
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that hits the 400,000 he invested and 100,000 to split with his siblings. the family invested in a strange inheritance and it is no wind fall. >> here we go. >> that's a good one. >> watching the grandchildren pop open the bubbly has to make you wonder. was their 13-year-old enterprise really ever about turning rusted iron into gold or was it about a different kind one that restores broken and britt tal family ties into strong lifelong bonds. >> we lost our mother when we were young we didn't get to know her parents that well. this brought us closer. >> grandpa, what would he say? he would say stewart? >> he would say i am proud of you. >> would that be important to
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hear from your grandfather? >> yeah, definitely. that is what it was right doing right by him and by my family. >> stewart sold all of his brand paw's cars and regretted losing only won the 1924 rolling touring car it was a favorite of prohibition bootleggers. on auction day an 86-year-old woman came just to see it. she explaineded her grandfather driven had to the hospital the day she was born and sold it to oliver jordan. of all of the stories about this strange inheritance this may have been his favorite. stewart asked the man who brought the touring car for $4,800 to let him know if he ever resold it. stewart might want to buy that one back. i am jamie colby for strange inheritance. remember you can't take it with
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you. do you have a strange inheritance story you would like to share with us? we would love to hear it. send me an e-mail or go to our web site strange inheritance.com. dmru >> a family inherits a household of history worth thousands. >> he was a world class collector. >> he had a love affair with this. >> this is a shawed off shot gun. >> bonnie and clyde barely? >> like bonnie and clyde. >> the images shooting up the highways of america. >> makes yield a fortune. >> people are telephone bidding there's intense interest in p the bonnie and slide

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