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L88

Mecum's Dallas Event – Corvette Buyers and Sellers Nirvana

Dana Mecum’s favorite car has to be the Chevrolet Corvette, especially if solely based on the number of outstanding high dollar cars that were hammered down during the last four days of his third Dallas auction.

It was clearly evident that Corvettes carried the four-day auction and were the car of choice for collectors where a new record price was paid for a Corvette ($3.2M, a 1967 L88, fully documented former NHRA record holder and the only ’67 L88 to retain its original body panels).

Of the 172 Corvettes that crossed the block 106 were sold, a 61% sell through rate, for a combined hammer price of $9.106M. Though some buyers were able to grab some excellent bargains during the first two days of the sale, the last two days saw spirited bidding and prices well above average. Almost twenty Corvettes were hammered down above $100K. It seemed as though most restored second generation cars were selling between $100K to $150K and if the car had any rare options it was selling close to or above $200K.

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[VIDEO] 1967 L88 Corvette Convertible Sells for Record $3.2 Million at Mecum Dallas
Photo Courtesy of Mecum

On Saturday afternoon at the Mecum auction in Dallas, Lot #123 – a 1967 L88 Corvette Roadster from the Buddy Herin collection took center stage. After five minutes of auction banter, the documented 1-20 L88 Corvette Sting Ray became the highest selling Corvette to ever sell at auction with a gavel price of $3.2 million.

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Mecum Offers Museum Quality Corvettes in Dallas

Right on the heels of his successful Monterey event which generated over $31M in sales, Dana Mecum is headed to the Lone Star state to host another auction extravaganza, September 4th through the 7th. This will be Mecum’s third year for his annual Dallas event held at the convention center and will be loaded with over 1400 collector cars featuring over a hundred Corvettes including several examples of the six generations.

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1967 L88 Corvette Convertible Headed to Mecum Dallas

by Steve Burns on August 23, 2013

1967 L88 Convertible Headed to Mecum Dallas

We’ve been a little C7 heavy here lately so here’s a C2 to mix things up. Mecum Auctions will be offering an uber rare 1967 L88 convertible next month at their Dallas sale. The Marlboro Maroon on black roaster will be crossing Mecum’s red carpet about 2:30pm central time on Saturday, September 7th. It’s one of 11 cars being offered from the Buddy Herin collection that weekend in Texas. Get your banker on the phone now, because this one is going to be expensive, really expensive.

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Rare Corvette Racers Headed to the 2013 Rolex Monterey Motorsports Reunion

If you love historically significant Corvette racecars, it doesn’t get much better than the collection of six very rare cars that will be on display at the 2013 Rolex Monterey Motorsports Reunion at Mazda Raceway Laguna Seca on Aug. 16-18.

We all know Chevy takes the lessons it learns from racing and transfers that knowledge to the production cars. To illustrate that point, each of the six classic racers will be shown with its street counterpart from the same timeframe.

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The Top 11 Corvette Sales of Mecum Kissimmee 2013

by Steve Burns on February 4, 2013

The Top 11 Corvette Sales of Mecum Kissimmee 2013

Mecum Auctions’ occupation of central Florida wrapped up last weekend after a 10-day bender of sunshine and vehicle sales. Their first event of 2013 tallied 2,610 cars traversing the red carpeted auction block with roughly 70% of those going to new homes. A total of 402 Corvettes (15% of the total docket) were available and 62 of them drew bids of $100,000 or more.

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GM Granted Trademark Aprroval for the Legendary Corvette Engine RPO Code L88

After trademarking Turbo-Jet last fall, it appears that GM has dusted off another legendary term. GM Authority reported late last week that General Motors has recently been given approval to use a pair of different L88 trademarks. The two requests were filed in August and September 2012 respectively and final approval was given on January 15th of this year.

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The Top 10 Corvette Sales of 2013 Barrett-Jackson Scottsdale

All of the pomp and circumstance that is the Barrett-Jackson Scottsdale auction spectacle wrapped up last week and prices were high as expected. After the break is our summary of the top 10 Corvettes sales from the event which includes a pair of new members in the million dollar club.

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[VIDEO] 1969 L88 Convertible Sells at Gooding and Co for $825,000

We first told you about this highly decorated 1969 L88 convertible back in August 2012 when it was about to cross Mecum’s Anaheim auction block. There it was bid to $550,000 and did not sell. Last week it traversed Gooding and Co’s Scottsdale auction stage and hammered sold for $750,000. Throw in the 10% buyer’s fee and the new owner wrote a check for $825,000 to take this baby home.

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The Corvette Enthusiast's Preview to Gooding and Co's 2013 Scottsdale Auction

Next up in our Corvette Enthusiast’s Preview of the Scottsdale Auctions, we review the Corvettes available from Gooding and Company.

Gooding & Company focuses on “blue chip” investment cars and usually sets a few world record prices each year in Scottsdale. Gooding is known for selling exceptional quality classic automobiles and producing the highest prices paid for exotic cars at such esteemed venues as Pebble Beach and Amelia Island in addition to Scottsdale and they have the statistics to back up those claims. The average price realized for a car throughout 2012 was $640,635 per car.

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