Corvette Auction Results: 2015 Mecum Spring Classic in Indianapolis

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Corvette Auction Results: 2015 Mecum Spring Classic in Indianapolis


This Guest Post contributed by Marshall Fancher, Editor of www.VetteNVestments.com

This was the 28th year of the always spectacular Dana Mecum Annual Spring Classic Auction at the Indiana State Fairgrounds. A total of 1,329 cars crossed the block. 783 of those cars found new owners. This equates to a respectable 58% sell through rate for the overall auction.

Mecum does a fantastic job at creating excitement about special cars, and they did not disappoint. These cars did what we thought were very strong and honest prices, considering the fantastic quality of each example.

As we go through our notes and think about the significant cars within this auction we obviously must start with the eight 1958 Fuelie Corvettes. Of special note is the ultra rare silver car, Lot S97. This car was the high seller of the group at $162K. Following closely was the Panama Yellow Fuelie Corvette (Lot S93).

Shifting gears and generations, one remarkable car was a 1969 L88 which did not sell for $500k.

1969 L88 Corvette


Another car that we thought was interesting was a 1988 35th anniversary Callaway coupe. It was hammered sold for what we thought was an astounding $61K. A few more remarkable cars, and one of my favorite cars in the sale, was Lot S128, a 1967 435 horsepower coupe with 95% original paint and documentation, failed to sell at $135k. Another one of our favorite cars was a 64 Big Tank car, NCRS, ETC, Lot S69 had a high bid of $250K.

Baldwin Motion Corvette


The anticipated Baldwin Motion car failed to sell at $135K. Related to the later model cars there was a stunning 50th anniversary convertible showing only 3 miles on the odometer. It sold for $41k before fees. Looking at C4s, we might have seen an example of stabilization of 1990 ZR1 prices, evidenced by Lot S79, a 36,000 mile example selling for $25K. Lot F125, a 14 mile RPO R9G Challenge car went to the bid goes on at $30K. Late Saturday a 2015 ZO6 convertible with just 60 miles and a 7 Speed manual bid up to $85K. Its intact window sticker showed an MSRP of over $91K.

Top Corvette Sales at Mecum Indy:
     
Lot # Year Description Sold Price
S244 1956 Corvette Resto Mod LS3/430 HP, Automatic $175,000
S97 1958 Corvette Convertible 283/290 HP, Very Rare Color $162,000
S93 1958 Corvette Convertible 283/290 HP, 4-Speed $160,000
S98 1958 Corvette Convertible 283/290 HP, Radio and Heater Delete $155,000
S115 1958 Corvette Convertible Bloomington Gold Historic Award $155,000
S91 1958 Corvette Convertible 283/290 HP, Radio and Heater Delete $150,000
F132 1957 Corvette Convertible 283/283 HP, 4-Speed $140,000
S96 1958 Corvette Convertible 283/290 HP, Radio Delete $140,000
S95 1958 Corvette Convertible 283/290 HP, Auxiliary Hardtop $140,000
S94 1958 Corvette Convertible 283/290 HP, Radio Delete $137,500
     
     
Top Bid Prices:
     
S120.0 1969 Corvette L88 Coupe 4-Speed, Tank Sticker, NCRS Top Flight $500,000
S121 1963 Corvette Resto Mod LS3/500 HP, Professional Build $200,000
S79 1963 Corvette Split Window Coupe 600 HP, 6-Speed $225,000


Statistically:

A total of 146 Corvettes crossed the auction block. 89 of those sold, equating to a 61% Sell Through Rate (STR).

A total of 1329 cars were auctioned, 783 of those found new owners which is a 58% STR.

Mark your calendars for next May so that you do not miss this spectacular event!


Marshall Fancher is the editor of Vette-N-Vestments Monthly Corvette Market Letter and Corvette Price Guide. You can subscribe to the Corvette Market Letter by visiting www.vettenvestments.com.


Source:
Mecum Auctions via Vette-N-Vestments

Related:
1958 Corvette Fuelie Collection Heading to Mecum Indy
Unique Golden Anniversary 1958 Corvette to Cross the Block at Mecum Indy
1967 Corvette Restomod with C7 Stingray’s LT1 Engine will Star at Mecum’s Indy Auction