Mecum Indianapolis 2015 – Auction Report

Mecum Indianapolis 2015 – Auction Report Page Ten

1969 Pontiac GTO Judge Convertible
Lot # S114 1969 Pontiac GTO Judge Convertible; S/N 242679B170775; Engine # 0630157 WS; Black/Black; Black vinyl top; Estimate $250,000 – $350,000; Recent restoration, 2 condition; Not sold at Hammer bid of $210,000 plus commission of; Final Price $210,000. With Reserve. 400/366hp Ram Air III, 4-speed, Hurst shifter, P/S, P/B, PMD Rally II styled wheels, red line tires, console, pushbutton radio, wing, Saf-T-Track. – Excellent paint, interior and top, very good chrome. Engine compartment and underbody are very clean and like new. Rare, attractive car, one of 79 Judge Ram Air III 4-speed convertibles. Not represented as the original, only as a ‘correct’, engine. – Sold here in 2011 for $193,450 fresh from restoration and presented this year still in impeccable condition. At the reported high bid it couldn’t have been more than a paddle-raise away from selling.
1957 Chevrolet Bel Air FI Convertible
Lot # S116 1957 Chevrolet Bel Air FI Convertible; S/N VC57S261763; Engine # F515EK; Matador Red/Red, Silver vinyl; White vinyl top; Estimate $110,000 – $125,000; Older restoration, 2- condition; Hammered Sold at $110,000 plus commission of 8.00%; Final Price $118,800. With Reserve. 283/283hp fuel injection, 3-speed, power top, skirts, spinner wheel covers, whitewall bias ply tires, bumper overriders, trunk lid trim, tinted glass. – Represented as matching numbers engine (very clearly stamped). Very good fresh paint, chrome, interior and top over an older restoration showing a little age but no appreciable use. – About as desirable as any Shoebox Chevy can be and bought at a realistic price for what it is.
1969 Chevrolet Chevelle COPO 2-Dr. Hardtop
Lot # S118 1969 Chevrolet Chevelle COPO 2-Dr. Hardtop; S/N 136379B397120; Engine # T402M0; Fathom Green/Black vinyl; Estimate $200,000 – $250,000; Recent restoration, 2+ condition; Hammered Sold at $150,000 plus commission of 8.00%; Final Price $162,000. With Reserve. L72 427/425hp, COPO 9566, power brakes, 4.10 Posi, M-22 4-speed, SS wheels, Firestone Wide Oval tires, bucket seats, console, AM radio. Comes with Protect-O-Plate, NCRS shipping data report, original bill of sale, broadcast sheet and GM of Canada documents. – Represented as matching numbers engine. Immaculate paint and body with fantastic brightwork. The engine, chassis and interior have been restored to like new condition. Completely restored and highly documented. Nearly impossible to fault. – Considering that this is a thoroughly documented big block COPO its price differential from, say, a ’69 Z/28 in comparable condition is modest. The new owner should be proud not only of the magnificent car but also of the value for money.
1969 Chevrolet Chevelle Malibu SS 396 2-Dr. Hardtop
Lot # S125 1969 Chevrolet Chevelle Malibu SS 396 2-Dr. Hardtop; S/N 136379G331039; Black, Red/Red vinyl; Estimate $200,000 – $250,000; Recent restoration, 2+ condition; Hammered Sold at $135,000 plus commission of 8.00%; Final Price $145,800. With Reserve. L89 396/375hp, 4-speed, power brakes, 3.73 axle, chambered exhaust, SS wheels, Goodyear Polyglas tires, bucket seats, console, AM radio, documented with build sheet and NCRS shipping data report, Goodguys 2014 Muscle Car of The Year, Concours Gold at the 2012 Muscle Car Nationals. – Fantastic paint with a deep luster. The brightwork is fantastic. The engine, underbody and interior have been restored to immaculate standards. A fantastic, rare L89-powered Chevelle restored to better than new. – Sold by Barrett-Jackson in Scottsdale last year with no reserve for $68,200, very low considering the car’s stellar condition. At Indy, it was the opposite story at over twice the sale number last year and an extra 30 grand over today’s market value. Assuming the seller here was the same person who bought the car in Scottsdale, to say it was money well spent would be an understatement.
1965 Ferrari 275 GTB NART Spider Rebody
Lot # S126 1965 Ferrari 275 GTB NART Spider Rebody; S/N 08039; Engine # 08039; Yellow/Black leather; Black cloth top; Estimate $2,900,000 – $3,500,000; Rebodied or re-created, 3+ condition; Not sold at Hammer bid of $1,000,000 plus commission of; Final Price $1,000,000. With Reserve. Chrome spoke Borrani wire wheels, Michelin X blackwall tires. – Wavily rebodied in aluminum after an accident early in its life, 2-cam engine. Good paint and chrome, sound older interior, window cavities loaded with overspray and body shop dust. Orderly engine compartment and underbody but showing age and limited use. – No interest shown on the block. A sound 275 GTB today is a $1.5 million car and this poorly executed NART Spider rebody should be worth about 2/3 of that, especially since there never was a 2-cam NART Spider. It was reported bid to $1.6 million at Russo and Steele in Monterey a year and a half ago. It deserved to be ignored, despite the hype over the value of the original Scaglietti-built 4-cam NART Spiders.
1957 Chevrolet Bel Air Convertible
Lot # S127 1957 Chevrolet Bel Air Convertible; S/N VC57F232065; Engine # F813FC; Black/Red, Silver vinyl; White vinyl top; Estimate $120,000 – $140,000; Older restoration, 2 condition; Hammered Sold at $82,500 plus commission of 8.00%; Final Price $89,100. With Reserve. 283/220 hp, Powerglide, P/S, P/B, spinner wheel covers, whitewalls, WonderBar radio, power rear antenna, skirts, electric wipers, windshield washer, vacuum ashtray, padded dash top. – 2007 AACA National First Prize and Senior Award winner. Represented as numbers matching engine. Very good paint, chrome, interior and top. Nearly like new engine compartment and underbody. Minor paint touchup on one corner of the deck lid. Very clean window pockets. – Sold in January at Barrett-Jackson in Scottsdale for $82,500 and only modestly more expensive after selling here for essentially the same money, perhaps with some giveback to the seller from the buyer’s commission to make up for transportation, commission and entry fee. The person who assigned the estimate range must have thought it was fuel injected.
1963 Ford Galaxie 500 Lightweight Fastback
Lot # S137 1963 Ford Galaxie 500 Lightweight Fastback; S/N 3N66R146755; Corinthian White/Red vinyl; Estimate $150,000 – $200,000; Recent restoration, 2+ condition; Hammered Sold at $220,000 plus commission of 8.00%; Final Price $237,600. With Reserve. 427/425hp, dual quads, 4-speed, 1,483 original miles, straight pipe exhaust, aluminum bumpers, fiberglass front end and trunk lid, body color Kelsey Hayes wheels, Racemaster slicks, lightweight bucket seats, radio delete, heater delete, warranty disclaimer in the glove box, never raced. From the Danny Hill collection. – The body and paint are excellent. Brightwork is all like new, the engine and underbody have been immaculately restored. The interior is fully restored and has no wear at all. A wonderfully restored lightweight with two owners (not counting the original selling dealer who bought it back when its racing days were over) from new. – Galaxie Lightweights were like ants at a picnic in Indy. This one’s condition is excellent but why it was worth three times more than the original, unrestored example sold earlier is a total mystery. Maybe because it runs and can make a few more passes for nostalgia? That’s still a lot to pay for a endorphins.
1957 Chevrolet Bel Air Convertible
Lot # S140 1957 Chevrolet Bel Air Convertible; S/N VC57L135635; Matador Red/Red, Silver vinyl; White vinyl top; Estimate $55,000 – $75,000; Visually maintained, largely original, 3- condition; Hammered Sold at $55,000 plus commission of 8.00%; Final Price $59,400. With Reserve. 283/220hp, Powerglide, power top, skirts, pushbutton radio, spinner wheel covers, whitewalls, electric wipers. – Danny Hill Collection. Tired old repaint, aged original interior and chrome. Flawed and microblistered paint. Aged engine compartment and underbody. Not original, just old. Represented as 36,155 miles. – This is not, as the catalog maintains, ‘patina’, this is age that begs to be remedied and the seller should be very happy to get this much for it.

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Show Comments (6)

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  1. These numbers are filled with inaccuracies. I logged every sale of this auction according to mecums own website results. Total sales = $35,984,501 plus commission. Total pass thru entries = 1324. Total vehicles sold = 779. Percentage sold = 58.65%. Average sale price = $46,193.20. Mecums numbers, not mine.

  2. Michael,
    Wow! That’s a massive effort.
    The stats published in SCD are derived from a spreadsheet of final results received directly from Mecum the week after the sale.
    They are then cleaned of dupes and reruns (based on the VIN reported by Mecum) so the same car is counted only once even if it crosses the block twice. A rerun that is sold one time but passed another is included as sold; the no-sale is not included in the sale total but is noted in the individual transaction record’s Comments field. Lots reported sold twice (it does happen) are included only once, generally at the higher or the later of the two transaction amounts.
    Grouped transactions (boat and trailer, for instance, sold together but wiht two lot numbers) are counted only once.
    Mecum sometimes reports a lot with a “$0” transaction. In reviewing the sale and cleaning up the results these lots are not included.
    The SCD reports generally don’t include motorcycles or golf carts, although I may not find all of them. In the case of the Spring Classic most of the motorcycles ran May 14 under distinct lot numbers and those [approximately] $1,542,510 in total sales were not included. In general I have found these transactions to be no-shows, although in some cases they are no-sales where the auctioneer and clerk don’t record the high bid amount. They are in aggregate not significant.
    Reported results and totals include Mecum’s buyer’s premium of the greater of $500 or 8% of the hammer bids; Mecum reports only the hammer bids on the website (as you noted above) and in their spreadsheet, for both sold and no-sale lots.
    We give Mecum’s “Bid Goes On” staff credit for their work closing deals after the cars cross the block and up to five working days after the auction so lots that are passed on the block but closed later are included. We do the same for all other auctions, as do all of our colleagues in the collector car auction reporting world.
    I went back and checked my results and find that one more lot has appeared in the “Sold” column, bringing the total sold to 823 lots and elevating the sale total to just over $41 million ($41,016,823.)
    That’s how it works, and I’ll stand by the numbers in SCD, but commend you for taking the time and going to the trouble of compiling a massive list for your own information.

  3. I made a mistake in the earlier comment. It should read as follows:
    Michael,
    Wow! That’s a massive effort.
    The stats published in SCD are derived from a spreadsheet of final results received directly from Mecum the week after the sale.
    They are then cleaned of dupes and reruns (based on the VIN reported by Mecum) so the same car is counted only once even if it crosses the block twice. A rerun that is sold one time but passed another is included as sold; the no-sale is not included in the sale total but is noted in the individual transaction record’s Comments field. Lots reported sold twice (it does happen) are included only once, generally at the higher or the later of the two transaction amounts.
    Grouped transactions (boat and trailer, for instance, sold together but wiht two lot numbers) are counted only once.
    Mecum sometimes reports a lot with a “$0? transaction. In reviewing the sale and cleaning up the results these lots are not included. In general I have found these transactions to be no-shows, although in some cases they are no-sales where the auctioneer and clerk don’t record the high bid amount. They are in aggregate not significant.
    The SCD reports generally don’t include motorcycles or golf carts, although I may not find all of them. In the case of the Spring Classic most of the motorcycles ran May 14 under distinct lot numbers and those [approximately] $1,542,510 in total sales were not included.
    Reported results and totals include Mecum’s buyer’s premium of the greater of $500 or 8% of the hammer bids; Mecum reports only the hammer bids on the website (as you noted above) and in their spreadsheet, for both sold and no-sale lots.
    We give Mecum’s “Bid Goes On” staff credit for their work closing deals after the cars cross the block and up to five working days after the auction so lots that are passed on the block but closed later are included. We do the same for all other auctions, as do all of our colleagues in the collector car auction reporting world.
    I went back and checked my results and find that one more lot has appeared in the “Sold” column, bringing the total sold to 823 lots and elevating the sale total to just over $41 million ($41,016,823.)
    That’s how it works, and I’ll stand by the numbers in SCD, but commend you for taking the time and going to the trouble of compiling a massive list for your own information.