Right on the heels of the Scottsdale auction where the six auction houses reported a combined 18% increase in sales, Mecum announced record setting sales for their ten-day Kissimmee event, the largest collector car auction in the world. And Mecum’s results were truly impressive; total sales for the 10-day event approached the $70-million mark, currently standing at $68,801,987, selling 1,771 cars of the 2,404 that crossed the auction block, for an exceptionally strong 74% sell-through. So based on the results of the January auctions, long considered to be a barometer of the collector car market for the coming year, collectors are feeling “warm and fuzzy.”
Hagerty, classic car insurance company and price guide publisher, launched a new marketplace rating tool which ranks the classic car market at 70.22, which means it is “expanding but not overheated.” Hagerty chief executive McKeel Hagerty, explained to ClassicCars.com, “We developed this as a tool to allow anyone who is serious about treating collector cars as investments to immediately take the temperature of the classic car market and truly understand the factors that cause the classic car market to move up or down.” But if you are a Corvette collector before you get too excited, based on January results Corvette auction prices are slipping.
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