Yes, lot 804 did sell for $118k. However, it is a high end resto-rod built to extremely high standards. I can assure you that it cost more than the selling price to build it.
Remember, these are not your typical cruisenight or even 'car show' vehicles. Most of the restored cars in Mr Dingmans collections would have no problem placing in the most stringent point shows.
The resto-rods are also of the highest caliber build quality.The cars were not built for the average car collector/enthusiast. They were bult for a man who expected nothing short of perfection. He has the means to have them built to his standards, and did just that.
However, I do agree that the german Glaser built 36 is not as pleasing to the eyes as a standard US production 36. But keep in mind that it was built to showcase the coachbuilders ability and be more than a standard production cabriolet.
Many of the cars built in the US by coachbuilders had 'unique' characteristics. Sometimes they were done just to set them apart from the other vehicles of the times.