Dana Mecum’s 33rd Original Spring Classic wrapped up a little over a week ago Indianapolis. The twice-delayed auction marked our first return to live auctions since the Covid-19 pandemic kicked in. Sporting masks, face shields, and other PPE the Mecum team offered nearly 1,800 vehicles across 9 days. When the dust settled and the red carpet had been rolled up, Mecum tallied a 78% vehicle sell-through rate and a record $74 million in total sales.
This auction will be remembered for the world-record $3.85 million paid for the 1965 Shelby GT350 prototype. In fact, except for 1 Rolls Royce, each of the top 10 sales of the auction all wore Ford, Shelby, or Ferrari badges. Not a Corvette in sight.
On the Corvette front, all eyes were on the 1967 Ultimate L88 and the brand spanking new 2020 Corvette Stingray. The L88 was a no-sale at $3.2 million while the C8 found a new home at $106,700 including fees. The top-selling Corvette was a ravishing quadruple blue 1967 427/435 convertible. The Bloomington Gold Certified and NCRS Top Flight winner finished in Elkhart Blue, Teal Blue stinger, Teal Blue interior, and blue soft top sold for $198,000. An awesome 1960 restomod occupied the #2 spot at $192,500 and the bronze medal went to a 1963 convertible restomod with the new owner writing a $184,800 check. A silver 1987 convertible brought the lowest winning bid at just $5,500.
This top 12 list ends up with 13 Corvettes since we had a tie in 12th place at $104,500. The average price of the top 12 was $145,327, up roughly $15,000 from 2019. The generational breakdown shows us 2 C1’s, 7 C2’s, 3 C3’s, and that lone C8 – the first-ever sold at a public auction. Interestingly, we only see 2 restmods on the list this time. Indy bidders looked to be after factory-correct cars this year.
Here’s a closer look at the Top 12 Corvette sales from Mecum Indy 2020.
1. Lot #F155 1967 Corvette 427/435 – $198,000
2. Lot #S194 1960 Corvette Restomod – $192,500
3. Lot #F135 1963 Corvette Restomod – $184,800
4. Lot #F176 1963 Corvette Coupe – $181,500
5. Lot #S195 1967 Corvette Convertible 427/390 – $165,000
6. Lot #T158 1968 Corvette Convertible L88 – $165,000
7. Lot #F186 1967 Corvette Convertible 427/435 – $132,000
8. Lot #F129 1970 Corvette Convertible ZR1 – $129,250
9. Lot #F137 1962 Corvette Big Brake Fuelie – $115,500
10. Lot #F139 1963 Corvette 327/340 – $110,000
11. Lot #S108.1 2020 Corvette Stingray Coupe – $106,700
12. Lot #F117 1967 Corvette Convertible 327/350 – $104,500
12-T. Lot #F162 1968 Corvette Convertible 427/435 – $104,500
While studying the sales figures we noted several high-priced no-sales in addition to the Ultimate L88. Were the sellers just doing some fishing or is the market getting a bit soft? Or was it savvy buyers knowing the true value of a given car? We’ll take a closer look at that later this week.
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