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Auction Results: 1953 Corvette Sells for $440,000

by Keith Cornett on June 11, 2007

1953 Corvette Roadster, Chassis number 157Our brothers at the Corvette Blog informed us last week about the McMullen Collection and a 1953 Corvette that was being auctioned on Saturday. We got the news today that the Corvette, chassis number 157, sold for an astounding $440,000 which includes the 10% buyers commission. The car was owned by John McMullen, a car dealer who owns a Pontiac GMC dealership in Troy, Michigan. McMullen, who is 79, had amassed a collection of 140 rare and valuable cars and decided that 73 of them must go. RM Auctions handled the gavel duty. Also included in the auction was a 1931 Duesenberg which sold for $1.35 million, a 1953 Buick Skylark and a 1953 Cadillac El Dorado which both sold for $450,000. The 1953 Corvette Roadster was acquired 12 years ago following a fresh restoration and a Gold certificate from Bloomington. The selling price shatters the $125,000 – $175,000 estimate listed on the RM Auction’s website and was much higher than the 1953 Corvette Roadster which sold at Barrett-Jackson in January for $298,350. It will be interesting to see if these prices will have any effect on the sales of two 1953 Corvette Roadsters at this weekend’s Bloomington Gold Auction.
Sources:
Corvette Blog
Detroit Free Press
Grand Haven Tribune
RM Auctions Related:
2007 Barrett-Jackson: $14.1 Million in Corvette Sales Technorati Tags:
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