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.
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.
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|
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!
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