Dana Mecum’s 34th annual Spring Classic Auction in Indianapolis wrapped up a couple weeks ago with record results. Total sales for the event were $107.8 million. That monster number was the product of an 83% sell-through rate in which 1,715 out of 2,057 available cars went to new homes. This was Mecum’s 2nd $100 million+ auction of the year following January’s Kissimmee auction.
Thanks to our ole buddy Marshall Fancher and Vette-N-Vestments we’ve got a great look at how Corvettes fared last month in Indy. As usual, Corvettes made up about 10% of the Mecum docket with 211 offered across all 8 generations. Of those, 166 sold which equates to a 78% sell-through rate. Total Corvette sales summed up to a tick over $13.5 million.
Breaking down the Top 11 Indy Corvettes sales we see seven midyears, two C1’s, and one car each from the 3rd and 7th generations. In a flip from Barrett-Jackson Scottsdale where 8 of the top 11 Corvettes were restomods, just two in Indy were modded examples. What we did notice was the rise in Survivor-type cars with four well-preserved examples in the Top 11. All four cars were big block examples with multiple awards from Bloomington Gold and the NCRS. This Survivor category of well-preserved unrestored has been growing in popularity for some time and we’re really seeing prices on these time capsules begin to surge. They seem to be the perfect antithesis to the budding restomod market. Our final takeaway is the growth of 2019 ZR1’s. An 1,100-mile Ceramic Matrix gray car sold for $178,750 coming at #11 while a Sebring Orange ZR1 VIN 007 sold $170,500 and finished just outside the top 11. All our numbers include the 10% buyer’s commission.
Now back to the numbers. The top Corvette sale was a Bloomington Gold and NCRS Duntov winning 1963 big tank Z06 which commanded $440,000. This split window coupe was 1 of 4 that found their way into the Indy Top 11. A restomodded 1963 coupe took the silver medal at $308,000 while a pair of stock fuelies came in at $242,000 each. Further down the list, an unrestored 11,000 mile, red/red 1966 big block convertible brought $220,000, and a 3,700 mile 1967 427/400 convertible hammered at $198,000. The total cost of the Indy Top 11 was $2.7 million and the average cost came in at $246,000. On the opposite end of the spectrum, a 1980 coupe was the cheapest Corvette sale at a reasonable $7,700.
Here’s a closer look at the top 11 Corvette sales from Mecum Indy 2021:
1. Lot #F189 1963 Corvette Z06/N03 Split Window Coupe – $440,000
2. Lot #F190 1963 Corvette Split Window Coupe – $308,000
3. Lot #F223 1958 Corvette Roadster – $264,000
4. Lot #F193 1965 Corvette Roadster – $247,500
5. Lot #F197 1963 Corvette Split Window Coupe – $242,000
6. Lot #F205 1963 Corvette Split Window Fuelie Coupe – $242,000
7. Lot #F205 1966 Corvette Roadster – $220,000
8. Lot #S236 1967 Corvette Roadster – $198,000
9. Lot #S236 1968 Corvette Roadster – $187,000
10. Lot #T139 1953 Corvette Roadster – $178,750
10. Lot #T139 2019 Corvette ZR1 – $178,750
The next stop on the Mecum train happens this weekend with their new Tulsa sale. It will be interesting to see if the lack of restomods from Indy carries over to Tulsa or if that was just a blip on the radar. Either way, you can trust that we’ll keep our eyes on the market to see what happens.
A Collection of Red Classic Corvette Convertibles to be Offered at Mecum’s Indy Sale
[VIDEO] Watch the Yellow 1967 Corvette L88 Sell for $2.65 Million at Mecum’s Glendale Auction
[PODCAST] Frank Mecum of Mecum Auctions is on the Corvette Today Podcast