We’ve finally reached the end of a frenzied month of collector car auctions in Florida and Arizona. Our DVR is still smoldering from the 72 hours of recording over the last couple of weeks. Since Top 10 lists can be a little cliché, we’ve sifted through all of the results and compiled a list of the top 11 January Corvette sales.
The top Corvette sale of the month went to the 1968 L88 convertible we told you about last week. Second place went to a 1969 L88 convertible which hammered at $610,000 at Mecum Kissimmee. The most notable non-sale went to the 1961 SCCA National Champion racer which bid all the way up to $850,000 without reaching reserve. The Noland Adams “Stamp Car” bid to a no-sale at $390,000, but later showed up as sold on Russo and Steele’s website as sold at $467,000.
Over the course of the month we noted a few observations:
- Overall, values are slowly continuing to recover from the lull of the previous few years.
- Average cars will still bring average money. Their recovery is still slow. Entry level bargains can still be found.
- Buyers are willing to pay more for desirable, high quality, documented cars
- L88’s are red hot on the market right now.
- Restomods and customs are becoming highly sought after items.
Here are the Top 11 sales from the January 2012 auctions:
|1||1968 L88 Convertible||Russo and Steele||$625,000|
|2||1969 L88 Convertible||Mecum||$610,000|
|3||2013 427 Convertible VIN 001||Barrett-Jackson||$600,000|
|4||1953 Noland Adams "Stamp Car"||Russo and Steele||$467,500*|
|5||1953 VIN 005||RM Auctions||$405,000|
|6||1969 L88 Coupe||Gooding and Company||$410,000|
|7||1962 Custom "Elegance"||Barrett-Jackson||$365,000|
|9||1969 L88 Coupe||Mecum||$270,000|
|11||1963 Custom "Split Personality"||Mecum||$255,000|
* with commission
As you can see, there was no shortage of money floating around. The top 11 cars totaled $4,122,000 in sales before the respective commissions are factored in. What really surprised us was the big money repeatedly bid for custom or restomodded cars. It appears that collectors are really starting to appreciate all the modern conveniences wrapped up in classic Corvette style as well the labor that goes into such creations.
The January events tend to set the tone for each year’s auction calendar. Based on what we saw, it appears that 2012 will be a pretty good year for both buyers and sellers.
1969 L88 Corvette Roadster Sells for $610,000 at Mecum’s 2012 Kissimmee Auction
1961 Corvette Gulf Oil Race Car a No-Sale at Mecum’s 2012 Kissimmee Auction
1953 Corvette VIN #005 Sells for $445,500 at RM’s Scottsdale Auction
[VIDEO] Zora’s 1989 Corvette Sells for $27,000 at Russo and Steele
[VIDEO] 1968 L88 Corvette Roadster Sells for $625,000 at Russo and Steele
[VIDEO] 2013 Corvette 427 Convertible Sells for $700,000 at Barrett-Jackson