Mecum Indianapolis 2015 – Auction Report

Mecum Indianapolis 2015 – Auction Report Page Four

1967 Shelby Mustang GT500 Fastback
Lot # F175.1 1967 Shelby Mustang GT500 Fastback; S/N 67402F4A01487; White/Black vinyl; Recent restoration, 2 condition; Hammered Sold at $141,000 plus commission of 8.00%; Final Price $152,280. With Reserve. 428/355hp, 4-speed, stripe delete, power steering, power brakes, Deluxe Marti Report. – A rare stripe delete car. Paint looks very good, so does the panel fit. Brightwork is excellent. Engine bay is clean and correct with some signs of use. Underneath is extremely clean. Interior looks excellent with very little wear. Showing 49,962 actual miles and in stellar condition. – This is a generous price for a ’67 GT500, even a stripe delete one, even in this very good condition.
1966 Chevrolet Chevy II 100 2-Dr. Sedan
Lot # F176 1966 Chevrolet Chevy II 100 2-Dr. Sedan; S/N 113116W133625; Engine # FIIT5ZI; White/Red vinyl; Recent restoration, 2+ condition; Hammered Sold at $45,000 plus commission of 8.00%; Final Price $48,600. With Reserve. 327/350hp, 4-speed, 3.73 axle, body color wheels, Firestone Deluxe Champion tires, hub caps, bench seat, radio delete. – Excellent paint with a laser straight body and all new brightwork. The engine compartment has been meticulously redone as well as the underbody. The interior has been completely replaced. The engine does appear to have a re-stamped code and is described only as ‘correct L79 components’ and ‘date correct engine, transmission and rear end’. A very well done restoration to better than new condition. – A highly desirable car, freshly restored to better than new condition, but only tentatively (and improbably) as it was originally built which makes the price it brought more of a reward for the quality of its workmanship, materials and performance than the authenticity of its restoration. On that basis this is a generous price; if it were to be documented as delivered in this form it would be a bargain.
1967 Ford Mustang GT Fastback
Lot # F178 1967 Ford Mustang GT Fastback; S/N 7R02S197328; Night Mist Blue/Black vinyl; Recent restoration, 1- condition; Hammered Sold at $73,000 plus commission of 8.00%; Final Price $78,840. With Reserve. 390/320hp, 4-speed, power steering, power brakes, 3.25 Traction Lok, BF Goodrich Radial T/A tires, Sport Deck rear seat, AM radio, center console, Marti Report. – Flawless paint and brightwork, the body and panel gaps are excellent. All of the factory markings appear to be replicated correctly. The engine and underbody are both immaculate and the interior has been completely replaced. A no expense spared restoration that looks better than 99% of the Mustangs you’ll run across. – One of the very best examples that can be found, it brought a corresponding and appropriate price here, faster than a GT350 but without the Shelby badges.
1967 Shelby Cobra 427 Roadster
Lot # F183 1967 Shelby Cobra 427 Roadster; S/N CSX3356; Blue, White stripes/Black leather; Concours restoration, 1 condition; Hammered Sold at $1,000,000 plus commission of 8.00%; Final Price $1,080,000. With Reserve. 427 Side oiler, 4-barrel, aluminized side exhausts, Halibrand style centerlock alloy wheels, outside fuel filler, chrome paperclip rollbar, chrome quick jack pickups, big hip flared fender S/C features not original as built. – Show car paint and chrome. Seats lightly stretched. Odometer shows 2,176 miles since the restoration and conversion to S/C features. Freshly serviced by Mike McCluskey. – With some 289 Cobras bringing seven figures this original 427-powered big block Cobra in show quality condition is a relative value, even though it has no history of note.
1989 Mercedes-Benz 560SL Convertible
Lot # F184 1989 Mercedes-Benz 560SL Convertible; S/N WDBBA48D4KA098238; Black/Black leather; Estimate $70,000 – $90,000; Unrestored original, 2- condition; Hammered Sold at $54,000 plus commission of 8.00%; Final Price $58,320. With Reserve. Chrome alloy wheels, Pirelli blackwall tires, two tops, automatic, Becker Grand Prix radio. – 8,154 miles and all original with excellent paint, chrome and interior. Clean, dry original underbody. An extraordinary find. – There is little if any appreciable premium in this result for this 560SL’s originality and low miles. The new owner could have expected to pay this much for a used but very good example with ten times the miles.
1968 Chevrolet Impala SS 427 Convertible
Lot # F185 1968 Chevrolet Impala SS 427 Convertible; S/N 164678Y128307; Engine # T0911IE; Matador Red/Parchment vinyl; White vinyl top; Estimate $100,000 – $125,000; Older restoration, 2- condition; Hammered Sold at $57,500 plus commission of 8.00%; Final Price $62,100. With Reserve. 427/385hp, 4-speed, buckets and console, Hurst shifter, Positraction, Rally wheels with hubcaps and trim rings, P/S, no P/B – Very good older paint, chrome and interior. Minor trim chrome pits and edges not carefully wet sanded. Clean, orderly engine compartment showing only a little age and limited careful use. A sound and highly enjoyable 4-speed 427 Impala convertible. – Sold at Barrett-Jackson in Scottsdale in 2007 for $73,700 in about the same condition it is in today, with 1,444 fewer miles on the odometer. Then sold at RM’s Wayne Davis collection auction in 2008 for $64,900. Its price here in Indy is far more appropriate than the seriously optimistic estimate in Mecum’s catalog.
1965 Shelby Cobra 289 Roadster
Lot # F186 1965 Shelby Cobra 289 Roadster; S/N CSX2549; Silver Mink/Red leather; Older restoration, 2- condition; Not sold at Hammer bid of $1,000,000 plus commission of; Final Price $1,000,000. With Reserve. Automatic, chrome wire wheels, Pirelli P5 tires, grille and trunk guards. – One of no more than 20 small block Cobras built with the C4 automatic. Excellent paint and chrome, very good lightly stretched and creased upholstery with minor surface cracks. Good panel fits except the back of the deck lid. Underbody is done and clean but not fresh, as is the engine compartment. More than good enough to own proudly but not too good to be driven and said by someone who has driven it to be a sweet running car that chirps the tires when the automatic shifts up. – Does the automatic’s rarity make it worth more, or does it not appeal to collectors who tend to think of Cobras as bare knuckles stick shift brawlers? It would appear that the consignor thinks it’s worth more, but the bidders don’t agree. Mecum couldn’t reconcile the two competing views this week in Indy and the owner gets to try again … maybe in Monterey.
1972 De Tomaso Pantera Coupe
Lot # F187 1972 De Tomaso Pantera Coupe; S/N THPNMG03342; Yellow/Black; Estimate $125,000 – $175,000; Older restoration, 2 condition; Hammered Sold at $125,000 plus commission of 8.00%; Final Price $135,000. With Reserve. AM-FM, chrome bumpers, Campagnolo alloy wheels, Avon tires, A/C with later rotary compressor, lowered, Koni shocks, electronic ignition. – Good but lightly orange peely repaint, good chrome and interior. Engine compartment and luggage tray are like new with space saver spare, tools and jack. Underbody is like new. An impressively presented early stock Pantera with known ownership history from new and 10,652 miles. – This is a premium early Pantera that brought, and deserves, a serious premium price for its originality, known miles, complete equipment and freedom from all but a few easily undone upgrades. So many Panteras have fallen into the hands of people who, with all good intentions, want to make them better but instead mess them up. This is a great example of one that has been left as it should be and found an appreciative audience willing to recognize its attributes.
1971 Ferrari 365 GTB/4 Daytona Berlinetta, Body by Scaglietti
Lot # F188 1971 Ferrari 365 GTB/4 Daytona Berlinetta, Body by Scaglietti; S/N 14769; Red/Black leather; Estimate $850,000 – $1,000,000; Visually maintained, largely original, 3 condition; Hammered Sold at $775,000 plus commission of 8.00%; Final Price $837,000. With Reserve. Painted nose panel, pop up lights, headrest seats, Blaupunkt Cambridge CD stereo, P/W, A/C, 5-spoke alloy wheels, full tool roll, owner’s manuals, 9-inch rear wheels. – A largely original Daytona with a good older repaint with minor masking holidays, scuffed stainless window trim. Aged undercoating chipped off in places and surface rusted. Uneven hood fit. Doors fit better but not a lot. Dusty but original under the hood. Runs better than it looks. – If this description sounds familiar it’s because it is. Sold by RM in Arizona in January for $715,000 and flipped here with just 11 more miles on the odometer. It was a sound value then but at $122,000 more here it is taking on an expensive mantle.

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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.