Mecum Auction Draws Big Money For General Motors Cars
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Mecum Auctions returned to Kissimmee’s Oceola Heritage Park January 6th through the 16th for its annual Florida sale, and made auction history. The juggernaut surpassed all previous sale records by moving a total of $217 million in total sales, $213 million of it in collector cars. With a staggering ninety percent sell-through rate, 2,954 vehicles found new ownership, the most ever sold at a single live collector car auction. Thirteen cars reached seven-figure sales. Every day of the eleven-day event set a new record for the auction company, with $72 million in sales on Saturday the 15th alone. Included in this were a number of important General Motors lots.
A number of significant General Motors cars crossed the auction block, many selling for phenomenal sums. The one-of-a-kind 1996 Buick Blackhawk that we featured a couple of weeks ago drew an impressive $385,000 winning bid.
A Fathom Blue with Parchment interior 1970 Chevy Chevelle LS6 hardtop traded hands for $165,000, well below the Hagerty Price Guide #2 value of $178,000, and the rare Mist Pink 1968 Pontiac Firebird convertible we profiled in December 2021 traded hands for just over #2 value, selling for $62,700.
One of the sale’s true bargains was the 1969 Chevy Corvette L88 convertible, finished in Can-Am White over red vinyl, that seemed to catch everyone off guard, selling for just $335,000, far below #2 book value of $695,000. The reason this Corvette traded hands for well below half of book value is unknown.
Even with a ninety percent sell-through rate, not all the stars of the General Motors universe met reserve. This rare and stunning 1962 Pontiac Grand Prix Super Duty was bid to $190,000, but failed to sell. It had a #2 value of $185,000, and a #1 value at an eye-watering $257,000.
Another important General Motors offering that didn’t quite reach its reserve is this 1963 Chevy Corvette Z06 racer. It had been fastidiously restored, with full race history, and numerous awards including 1993 National Corvette Restorers Society Special Interest Award, 1994 Bloomington Gold Special Collection Victory Lane Award, Corvettes at Carlisle Chips Choice Award, 2009 Bloomington Gold Special Collection Grand Finale, 2013 Greenwich Concours d’Elegance Best Competition Car Award, and induction into the Bloomington Gold Great Hall in 2013. Despite the $2.4 million high bid, this extraordinary Sting Ray failed to find new ownership.
Another striking lot that fell short of selling was this 1955 Chevy Nomad Custom finished in House of Kolor Tangelo Pearl and riding on an Art Morrison frame. Despite brisk bidding to $270,000, it just wasn’t enough.
The next stop on the Mecum Auctions collector-car auction train will be State Farm Stadium in Glendale, Arizona, March 16th through the 19th.
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I did see this auction on TV. Many great vehicles, but selling prices are now much higher than I would have figured. Looks like 30-40% higher than last year pricing.
Higher prices do bring out more sellers.
I always have $ 1,000,000 set aside in my “fantasy” fund as I watch the auctions. I don’t care so much for the vehicles that are “overly” modified and I actually do a pretty good job “buying’ vehicles for my “fantasy” air conditioned with a mechanic, detailer,etc. building:).
Ross P. Alander, the Car Guy..Flint..Lansing..Tampa..Longboat Key
p.s. I drive my “fantasies” every day:)
I really appreciate seeing restored or well kept vehicles from GMs past glory days when they built cars that stood out from the pack. I wish I could say the same (with a couple of exceptions) as to the current line-up of GM cars.
On a slightly different note, I will not buy a GM car (Buick comes to mind) made in China.
What happened with the 57 SS Corvette you featured a couple of articles ago?