Mecum Indianapolis 2015 – Auction Report

Mecum Indianapolis 2015 – Auction Report Page Two

1970 Dodge Challenger R/T 2-Dr. Hardtop
Lot # T215 1970 Dodge Challenger R/T 2-Dr. Hardtop; S/N JH23L0B155629; Panther Pink, Black hood stripe and vinyl roof/Black vinyl; Estimate $40,000 – $60,000; Modified restoration, 3 condition; Hammered Sold at $65,000 plus commission of 8.00%; Final Price $70,200. With Reserve. 383/290 upgraded to a Six Pack 440, automatic, P/S, Rally wheels with trim rings, Eagle ST tires, pushbutton radio, woodgrain steering wheel. – Good older clearcoat paint, fair interior, good chrome. Dashboard and kick panels are loose and worn. Hood doesn’t close flush but doors do. Orderly underbody. A usable driver in a great color. – Sold at Barrett-Jackson Scottsdale in 2004 for $41,580, then at B-J’s Palm Beach sale two months later for $35,100, the result here is pretty extraordinary for a made up car, even in Panther Pink. It’s enough to buy one originally built this way in comparable condition.
1968 Plymouth Belvedere GTX 2-Dr. Hardtop
Lot # T220 1968 Plymouth Belvedere GTX 2-Dr. Hardtop; S/N RS23L8A330006; Red/Black vinyl; Estimate $50,000 – $75,000; Recent restoration, 2- condition; Hammered Sold at $47,500 plus commission of 8.00%; Final Price $51,300. With Reserve. 440/375hp, 4-speed, body color wheels, hubcaps, red line tires, Hurst shifter, bucket seats, AM radio, tilt steering column, documented with the broadcast sheet and dealer invoice. – Straight body with great paint. Vent window trim is pitted. Engine compartment is restored and has seen minimal run time. Interior is excellent. A very good restoration that has seen minimal use. Not quite a show car, but a very pretty if basic restoration. – A respectable restoration and a respectable price for it.
1988 Chevrolet Corvette Callaway 35th Anniversary Edition Coupe
Lot # T230 1988 Chevrolet Corvette Callaway 35th Anniversary Edition Coupe; S/N 1G1YY218XJ5116802; White, Black roof/White leather; Estimate $75,000 – $100,000; Unrestored original, 2 condition; Hammered Sold at $61,000 plus commission of 8.00%; Final Price $65,880. With Reserve. 350/382hp, twin turbos, 4+3 transmission, J55 Brakes, Z51 suspension, air conditioning, power windows, 17-inch Callaway mag wheels. – From the Mike Yager collection. 430 original miles, this is essentially a showroom fresh car inside and out. Bloomington Gold Benchmark certified, judged 7,655 of 7,675 points. One of 7 Callaway twin turbo Vettes in 1988 with the Z01 Anniversary option. – There is a little premium for this Callaway Twin Turbo’s exceptional originality and preservation, but not a lot when its condition and the rarity of the Anniversary option are taken into account.
1990 Chevrolet Corvette R9G Coupe
Lot # T231 1990 Chevrolet Corvette R9G Coupe; S/N 1G1YY2383L5111764; Red/Black leather; Estimate $40,000 – $50,000; Unrestored original, 2 condition; Hammered Sold at $27,500 plus commission of 8.00%; Final Price $29,700. With Reserve. R9G race prep package, adjustable suspension, AM/FM radio. – Bloomington Gold Benchmark and Survivor certified, paperwork included. Displayed at the New York Corvette Americana Hall of Fame Museum for 10 years. Only racing teams were allowed to order these special equipment Corvettes, but this one was never raced, only racked up 115 miles and has been maintained in like new condition. Slightly dirty from transportation at auction, but this would be easily corrected by a detailing. – While this is a rare Corvette, and one that will be proudly owned the penalty for adding more miles will take some thought by the new owner. On the other hand, at this price there is little premium for the negligible miles and it’s really possible to take it out and drive it to experience the full ennui of the C4.
1967 Chevrolet Corvette 427/435 Roadster
Lot # T245 1967 Chevrolet Corvette 427/435 Roadster; S/N 194677S105201; Engine # T1106IR 185405268; Tuxedo Black, Red stinger/Black leather; Black vinyl top; Estimate $85,000 – $100,000; Modified restoration, 2- condition; Hammered Sold at $86,000 plus commission of 8.00%; Final Price $92,880. With Reserve. 427/435hp, 4-speed, alloy wheels, redline tires, side exhaust, AM-FM, Positraction, Vintage Air, aluminum radiator. – Very good paint, chrome, leather interior and top. Engine number is for a 390 Powerglide, not a 435 Tri-Power. Clean, fresh restored underbody and engine compartment. A pretty and very usable but not collector quality Corvette. – This is a highly generous price for a Corvette with a mediocre restoration and modified engine.
1970 Oldsmobile Cutlass S 2-Dr. Hardtop
Lot # T263 1970 Oldsmobile Cutlass S 2-Dr. Hardtop; S/N 336870G140519; Sherwood Green, White hood stripes/Ivory vinyl; Estimate $50,000 – $65,000; Visually maintained, largely original, 2+ condition; Hammered Sold at $45,000 plus commission of 8.00%; Final Price $48,600. With Reserve. 350/310hp, 4-speed, power brakes, W-25 Forced Air hood, W-27 3.91 Posi axle, body color wheels, hubcaps, Firestone Wide Oval tires, heavy duty cooling, sport mirrors, dual exhaust, AM radio, bucket seats, console, documented with build sheet, bill of sale, GM Canada paper and Protect-O-Plate. – Showing 32,935 original miles. Fantastic paint, body and brightwork. The engine compartment and underbody are immaculate. The original interior has light wear. Repainted but mostly original and very well maintained. A wonderful example of a rarely optioned Cutlass. – Sold at Barrett-Jackson Scottsdale in 2010 for $33,000, then bumped through three other Mecum auctions 2010-2014 before reportedly selling at Kissimmee in 2014 for $48,600, followed by another sale in Indy in 2014 for $54,000. Flipped here a year later for a five-figure loss makes it an expensive ownership experience for the seller, but a reasonable value for the new owner.
1969 Chevrolet Camaro Convertible Pace Car
Lot # F39 1969 Chevrolet Camaro Convertible Pace Car; S/N 124679N631522; Dover White, Hugger Orange/Orange vinyl with Orange Houndstooth cloth inserts; White top; Recent restoration, 2- condition; Hammered Sold at $56,000 plus commission of 8.00%; Final Price $60,480. With Reserve. 350/300hp, automatic, power steering, power brakes, power top, hidden headlights, AM radio, Rally wheels, Goodyear Polyglas tires. – Paint is excellent. Panel fit is slightly erratic. Brightwork shows some age and light scratches. Engine bay is restored and almost spotless. Undercarriage looks excellent and is very clean. Interior presents like brand new with no wear. A very well done restoration without going completely over the top. – The Camaro paced the Indy 500 for the second time in 1969, and more special replicas of the white and orange pace car were sold to the public. Buyers of these Indy 500 editions had the choice of four engines, of which the 350/300hp L48 like the one found in this car was the least potent. Even taking that into consideration, this was a spot on price for an example this good.
1966 Ford Mustang Convertible
Lot # F45 1966 Ford Mustang Convertible; S/N 6T08C177807; Red/Parchment vinyl; White top; Older restoration, 2- condition; Hammered Sold at $30,500 plus commission of 8.00%; Final Price $32,940. With Reserve. 289/200hp, 4-speed, power top, power steering, Rally wheels, luggage rack, Pony interior, woodrim steering wheel, Hurst shifter, radio. – Paint is excellent. Panel gaps are slightly uneven. Brightwork is very good. Engine bay is very clean and detailed. Underneath is clean, showing some signs of road rash. Interior is good, but could use a good detailing. A sound, pretty but not immaculate restored Mustang that would be a great cruiser or local show car. – Considering that this car isn’t a GT and has the base 200-horse 289, this was a spot on result that should leave both parties walking away satisfied.
1968 Chevrolet Corvette Coupe
Lot # F47 1968 Chevrolet Corvette Coupe; S/N 194378S420163; Engine # T1210LO; Red, Black stripe/Black vinyl; Visually maintained, largely original, 2- condition; Hammered Sold at $65,000 plus commission of 8.00%; Final Price $70,200. With Reserve. L88 427 upgrade by Motion Performance in 1970, 4.11 axle, power brakes, J56 brake package, Hooker headers with cutouts, bellhousing scatter shield, American Racing wheels, BF Goodrich Radial T/A tires, AM/FM, documented with tank sticker and Motion Performance invoices. – The paint is excellent and the brightwork is very good. The windshield is delaminating in the upper corners. The engine is dull with age and the underbody is very clean. The interior is in excellent condition. A mediocre Corvette with period Motion Performance enhancements. – Originally a 427/390hp, given the L88 treatment by Motion Performance and understandably valued somewhat better than its more ordinary predecessor powerplant, but nowhere near what a real L88 would bring, it has an intriguing story and represents a sound value for the money. It was offered by Mecum in Kansas City in December with a reported high bid of only $50,000 and the seller did well to wait.

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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.