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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.

1954 Corvette with Rare Bubble Top Sells for $88,000 at Barrett-Jackson Palm Beach

One of the more interesting Corvettes we saw down at the Barrett-Jackson Palm Beach auction was this unrestored 1954 Corvette roadster with the rare aftermarket bubble top. The Corvette was part of the Hartley Collection and it sold on Saturday afternoon for $88,000 which includes the 10% buyers commission.

[VIDEO] Rick Hendrick Buys the 2015 VIN 001 Corvette Z06 Convertible at Barrett-Jackson

Friday night at the Barrett-Jackson Collector Car Auction in Scottsdale, Arizona, the first retail 2015 Corvette Z06 Convertible wearing VIN 001 was auctioned for charity. Surprising nobody, the winner of the auction was Chevrolet dealer and NASCAR team owner Rick Hendrick who paid $800,000 for the black and red Z06 droptop.

DeLorenzo's 1969 L88 Corvette Convertible Sells for $680,000 at Mecum's Dallas Auction
Photo Credit: Mecum/D.Duckworth

When you’ve got one of only 116 1969 L88s ever made, you’ve obviously got a prize Corvette.

Add in an impressive frame-off restoration, mix in a very interesting racing heritage, and you’ve got the makings for one very, very desirable Stingray.

Just how desirable?

How about a Corvette that fetches $680,000 at the recent Mecum auction in Dallas?

The Bid Goes On for the Featured Corvettes at Mecum's Seattle Auction

Overall Mecum’s first trip to Seattle was met with an over flow of enthusiastic bidders and collectors. Mecum obviously worked overtime to offer their customers a varied assortment of excellent collector cars. When the curtain came down Mecum had to be pleased with their initial foray into the Pacific Northwest setting a world’s record for a muscle car when a 1971 Plymouth Hemi Cuda was hammered for $3.5M. It was obviously a muscle car market since it definitely was not a Corvette market.

Mecum put together a dynamite docket of outstanding investment level Corvettes for their introductory event in the Northwest and though there was strong bidding for a some of the Corvettes, the majority of bids did not meet the consignor’s reserves and 65% of all Corvettes offered over the two day event went unsold and none of the four featured Corvettes sold.

Another indication of disappointing results for Corvettes was the fact only one Corvette was able to make the top-ten list, a 1958 restomod. That is almost unheard of for the world’s largest Corvette seller who typically has almost half of the top ten occupied by America’s sports car.

1967 McNamara Corvette Sells for $725K at Mecum

Enthusiasts were treated to three days of excitement last week when Mecum presented their second major collector car auction of 2014, April 10th through the 12th in Houston.

The heavily promoted prototype Ford GT40 was hammered down at $7M and TV viewers got to see it on live TV. It was the highest price ever hammered down for an American car being broadcast on “live” TV. And though that was impressive, it was actually more exciting to watch former Viet Nam veteran Don McNamara’s pristine, 2997-mile Corvette hammered down for $725K ($797.5 including commissions). Along with the McNamara Corvette, Mecum sold 61 of the 101 Corvettes consigned, a strong sell through for Corvettes.

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Corvette Racing at Long Beach: First Victory for New Corvette C7.R

Garcia, Magnussen dominate street race; Gavin, Milner take third-place GTLM finish

LONG BEACH, Calif. (April 12, 2014) – Corvette Racing won its first race with the new Chevrolet Corvette C7.R on Saturday at Long Beach as Antonio Garcia and Jan Magnussen dominated in their No. 3 Corvette to take the GT Le Mans class of the Patrón Sports Car Showcase. The duo led all but one lap and took the checkered flag by 5.408 seconds in the third round of the TUDOR United SportsCar Championship.

Deciphering the Confusing 2014 Corvette Collector Market

In a few days two prophetic auctions will take place that collectors of Corvettes will want to keep their eyes on whether they plan to bid at these auctions or not. The two biggest sellers of collector Corvettes in the country, Mecum and Barrett-Jackson will be holding their second important collector auctions of 2014. The reason these auctions are important is because after some mixed and difficult to interpret first quarter Corvette auction results, we should get a better read on the Corvette collector market and where it is headed for this year. After a spectacular 2013 which saw new records set on “blue chip” Corvette prices, and while the Corvette segment of the collector market was strong for most rare and well optioned cars, at this point it is difficult determine whether last year’s strong market tends will continue for 2014.

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