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Corvette Auction Results: Mecum’s HD Theater Mid-Term Report

by Keith Cornett on April 21, 2008

1971 Corvette LT-1 Coupe

More than a few eyebrows were raised when Mecum Auctions announced their 6-week run of “Muscle Cars & More” at the Indianapolis Fairgrounds with television coverage provided by Discovery Channel’s HD Theater. We saw the main challenge as being two-fold. Could Mecum keep a sustainable pipeline of quality cars coming in over the course of the 6-week auction run AND could they keep the interest of buyers who are used to the weekend auction fly-in (or drive-in)? We’re here to report a solid yes regarding the Corvettes and a definite maybe on the buyers.

After three weeks of auctions, Mecum has sold $1,774,000 of Corvettes. So far, 43 Corvettes have been offered and 29 have sold for a 67% success rate. Only 14 were unsold, but with Mecum’s “The Bid Goes On” program, its possible that several more of these Corvettes may move over to the sold column.

The quality of Corvettes at a Mecum auction is always strong and the Corvettes appearing at Mecum’s Muscle Cars & More on HD Theater is about what we’ve expected. Collectible Corvettes of various years have been made available each of the first three weeks, but it was week 2 that was the night for showcasing Corvettes. We saw a 1963 Corvette Coupe Z06 Tanker sell for $225,500 and a 1967 Corvette Convertible with a 427/435 hp L71 go for $160,000. Week 2 also featured a bevy of fuel injected Corvettes as well as several RPO 687 Big Brake C1 Corvettes. So the quality and variety of Corvettes available are there.

Which leads us to the quality of buyers. We got a friend to Tivo and copy to DVD the Week 2 auction that was heavy with Corvettes. We saw several familiar faces including Terry Michaelis of Proteam, David Burroughs of Bloomington Gold fame and Terry Malone from Corvettes of Dallas. The Week 2 auction also appeared to have a steady stream of telephone and internet bidders, which we think would be a popular method of buyer participation in a multi-week auction format. With Corvettes selling successfully at a rate of 67%, our verdict on the quality of buyers week-in and week-out is a definite maybe and will be reevaluated at the close of the final auction next month.

So after three weeks of the six week run, here are the Corvette auction results from Mecum’s “Muscle Cars & More” TV Auction on HD Theater. Lot numbers starting A and J1 are from Week 1. B and J2 are Week 2 and C and J3 were sold on Week 3:

LOT YEAR MODEL SOLD HIGH BID
A2 1972 Corvette $18,000  
A3 1978 Corvette Pace Car – L82 4-Speed   $20,000
A6 1972 Corvette $16,000  
A19 2004 Corvette Convertible Comm Edt $29,000  
A40 1995 Corvette Convertible $13,250  
A45 1975 Corvette $16,000  
A46 1967 Corvette   $45,000
A53 1968 Corvette Convertible 427/435 $66,000  
J119 1986 Corvette   $24,000
J121 1986 Corvette Pace Car $8,500  
J125 1987 Corvette $6,500  
B1 1966 Corvette Coupe 427/390 $63,500  
B2 1995 Corvette Coupe Lingenfelter   $19,000
B3 1993 Corvette $10,750  
B4 1974 Corvette $19,000  
B9 1965 Corvette   $34,000
B12 1967 Corvette Convertible 427/400 $96,000  
B16 1977 Corvette T-Top $8,500  
B24 1962 Corvette Convertible $55,000  
B31 1956 Corvette Convertible 265/225   $74,000
B33 1958 Corvette Convertible 283/290 FI $125,000  
B34 1963 Corvette Z06 Tanker $222,500  
B35 1967 Corvette Convertible 427/435 $160,000  
B36 1962 Corvette Convertible 327/360 $135,000  
B37 1961 Corvette Convertible RPO 687 $132,500  
B39 1963 Corvette Convertible 327/360 FI   $86,000
B40 1958 Corvette Convertible 283/270 $94,000  
B41 1959 Corvette Convertible 283/290 FI $137,500  
B42 1962 Corvette Convertible 327/360 FI   $82,000
B44 1956 Corvette Convertible 265/225 $94,000  
B45 1963 Corvette Convertible 327/360   $67,500
J202 1964 Corvette Coupe 327/300 $35,750  
J204 1995 Corvette   $10,500
J210 1967 Corvette   $50,000
C21 1971 Corvette $13,000  
C24 1966 Corvette Convertible 327/300 $51,500  
C32 1971 Corvette T-Top LT-1 $46,000  
C37 1970 Corvette T-Top 454/390 $39,500  
C52 1967 Corvette Coupe 427/400 $51,000  
J315 1988 Corvette Coupe   $7,500
J316 1990 Corvette Coupe ZR-1 350/385   $20,000
J326 1995 Corvette Coupe LT1 350 $10,750  
J334 1970 Corvette Coupe 350/350   $14,500
         
    Total Corvette Sales (Week 1-3): $1,774,000  

Mecum’s live auction continues this weekend at 8pm Est on HD Theater.


Source:
Mecum Auctions
HD Theater

Related:
[VIDEO] Mecum Auction Results: 1963 Corvette Z06 Tanker
Friday’s Featured Corvettes for Sale: Mecum’s HD Theater Edition

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