Someone wanted it bad. They paid $14,500 on Ebay
First introduced in 1936 the Autocycle seriously revolutionized the balloon tire field in styling and sophistication. So much going on here that Schwinn incorporated the word AUTO into the title of these bikes. No other bike of the period had as many deluxe features and accessories as the Autocycle. The speedometer was a Stewart Warner
Notice the seat has a spring down the front and curved under it, so it pogo sticks on the vertical post.
if you want to read extensive original advertising from the factory brochures in the 30's see http://schwinncruisers.com/catalogs/1938.html