This is the only known surviving Packard Eight with the Phaeton body. So, yes, in so many words, it's extremely rare. So rare in fact that it's estimated between $150,000 - $200,000. The auction will take place at Amelia Island on March 12 by RM Auctions and something this rare may in fact retrieve an even higher sale price. It's powered by 320 cu. in. L-head inline eight-cylinder engine mated to a three-speed manual transmission.
It also has a solid front axle and a live rear axle, front and rear semi-elliptic leaf springs, and four-wheel mechanical drum brakes. Originally sold to its first owner in Pennsylvania, it remained there until 1952 when it was sold to its second owner from New York who kept it until 1999. Its third owner bought the Phaeton in Hershey, Pennsylvania in 2004 and shortly commissioned its four-year long restoration. Before the restoration, it had 57,000 miles, but the instruments were rebuilt and the odometer was set back at zero.
Having only briefly been driven, it now has less than 200 miles and according to the auction house, it runs flawlessly.