Mecum Auctions, The Reliant Center, Houston, Texas, April 10-12, 2014
Mecum hasn’t been coming to Houston for very long but already they’ve made themselves known.
Mecum’s Houston auction was capped by the $7 million hammer ($7,560,000 with commission) sale of Ford GT prototype GT/104, a car that – if comparison is needed – Gooding & Company sold at Pebble Beach in August 2012, not quite two years ago for $4,500,000.
But that wasn’t the real message. Mecum gathered 1,025 cars for Houston, a consignment that dwarfs that managed by the established players in Texas. The $33.1 million sale total – $25+million even without the GT40 – is right up there with all the collector car auctions held in Texas last year combined.
At the same time, however, Mecum’s median transaction was just $30,240, an amount that is entirely accessible to serious but not necessarily well-heeled collectors. At 62.2% of the $48,625 average sale (including the GT40), Mecum’s Houston auction is a largely flat and accessible consignment. It is a celebration of collecting cars, and Mecum Auctions has mastered the formula as well as, if not better than, anyone else.
A thousand cars in the weekend? Amazing.
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[On-site observations in Houston are capably made by Andrew C. Newton; comments, snarky and otherwise, as always are the responsibility of the editor.]