Mecum Indianapolis 2015 – Auction Report

Mecum Indianapolis 2015 – Auction Report Page Five

2006 Ford GT Heritage Edition Coupe
Lot # F191 2006 Ford GT Heritage Edition Coupe; S/N 1FAFP90S16Y401469; Gulf Blue, Orange/Black leather; Estimate $450,000 – $550,000; Unrestored original, 2 condition; Not sold at Hammer bid of $400,000 plus commission of; Final Price $400,000. With Reserve. 18/19 inch BBS wheels, McIntosh stereo, HID headlights, A/C. – 5,718 miles and like new. – Reported sold last September at Auburn Fall for $360,000, then at Mecum’s Anaheim auction in November for $405,000. It crossed the block at Mecum’s Austin auction in December with the same bid reported here and has already covered more miles in Reliable’s haulers than it has under its own power but will go back into the truck to be unloaded at another auction. The supply of Ford GTs may be overwhelming the demand for them and it’s time to get out while the exit is still open.
1971 Chevrolet Corvette LS6 Convertible
Lot # F193 1971 Chevrolet Corvette LS6 Convertible; S/N 194671S115511; War Bonnet Yellow, Black vinyl hardtop/Saddle leather; Black top; Estimate $140,000 – $160,000; Older restoration, 2 condition; Hammered Sold at $120,000 plus commission of 8.00%; Final Price $129,600. With Reserve. 427/425hp, automatic, two tops, P/S, P/B, P/W, AM-FM, tilt steering column, tinted glass, Rally wherewith trim rings and hubcaps, F70-14 Wide Tread tires. – Very good paint and interior. Wavy bumpers, lightly scuffed windshield frame trim. Restored underbody showing some age. A rare Corvette with a well preserved older restoration. – Another car chasing an elusive bidder who’s willing to pay what the owner has in it. It crossed the block twice at Mecum’s Kissimmee auction in 2014 with bids of $110,000 on Friday and $95,000 on Sunday, then sold at Auctions America in Ft. Lauderdale two months later for $140,250. The consignor settled for cutting his losses here and took the money rather than giving it more rides. The ‘rare’ automatic transmission doesn’t equate with ‘desirable’.
1967 Maserati Ghibli Spider conversion
Lot # F195 1967 Maserati Ghibli Spider conversion; S/N AM115174; Ice Blue/Dark Blue leather; Black top; Estimate $300,000 – $400,000; Cosmetic restoration, 2- condition; Hammered Sold at $230,000 plus commission of 8.00%; Final Price $248,400. With Reserve. Chrome spoke Borrani wire wheels, Pirelli blackwall tires, A/C. – Good recent clearcoat paint with a few small fisheyes. Very good new interior, older top. Good chrome. Clean, orderly engine compartment and underbody from an older restoration. The shop doing the conversion is not known but chassis reinforcements and bodywork details indicate it was taken seriously. – Offered by Mecum in Monterey in 2013 with a reported high bid of $195,000, it found an appreciative audience here in Indy, even though it’s not as appreciative as the generous estimate would indicate. As an object it is exceptionally pretty and indecently fast, a relatively good value when put up against a Daytona, even a cut Daytona, for three times the price.
1971 Mercedes-Benz 280SL Roadster
Lot # F197 1971 Mercedes-Benz 280SL Roadster; S/N 11304412019338; Dark Olive Green, Dark Olive hardtop/Cognac leather; Estimate $90,000 – $110,000; Cosmetic restoration, 3+ condition; Hammered Sold at $60,000 plus commission of 8.00%; Final Price $64,800. With Reserve. Wheel covers, narrow whitewalls, Frigiking A/C, Becker AM-FM, two tops, books, tools, owner’s manual. – Underbody quickly repainted assembled. Good repaint on the body but not so good on the hardtop. Very good new upholstery and carpets. A sound and desirably equipped boulevard cruiser. – This is a sound buy in a sound, attractive, fully-equipped cosmetically restored 280SL.
1978 Toyota FJ40 Land Cruiser
Lot # F198 1978 Toyota FJ40 Land Cruiser; S/N FJ40274438; Green, White roof/Black vinyl; Estimate $40,000 – $60,000; Recent restoration, 2- condition; Hammered Sold at $65,000 plus commission of 8.00%; Final Price $70,200. With Reserve. Beige wheels, Warn front hubs, Michelin LTX tires, Warn winch, center facing rear seats. – Freshly restored to generally like new condition but the driver’s window sill was painted over surface rust. Other than that it is as close to showroom new as an FJ gets. – This FJ was bought at Mecum’s Anaheim auction last November for $38,250, then offered at Austin in December with a reported high bid of $50,000. It struck a chord here in Indy and brought a price that is full retail and then some. There seems to be no ‘normal’ in FJs and their values hop around almost irrationally making the search for the right time and place potentially rewarding, as it proved to be here.
1970 Buick GSX 2-Dr. Hardtop
Lot # F202 1970 Buick GSX 2-Dr. Hardtop; S/N 446370H277942; Saturn Yellow, Black stripes/Black vinyl; Estimate $100,000 – $130,000; Recent restoration, 2+ condition; Hammered Sold at $170,000 plus commission of 8.00%; Final Price $183,600. With Reserve. 455/350hp, 4-speed, power steering, power brakes, Rally wheels, Goodyear Polyglas GT tires, hood tach, bucket seats, AM/FM radio, console. GSX registry listed. – Represented as 31,676 original miles and matching numbers drivetrain. Stunning paint and all new brightwork. The engine and underside have been restored to like new. The interior appears to be all new components. A highly detailed restoration finished in 2007. The work was top notch, and it presents like a much newer restoration. – The GS (Grand Sport) was Buick’s answer to the GTO, and the GSX was the optional high performance package in 1970 that compared with the GTO Judge or the 4-4-2 W-30. Only 678 were built. This example is among the very best around, as proven by the astronomical price it reached here.
1967 Shelby Mustang GT350 Fastback
Lot # F205 1967 Shelby Mustang GT350 Fastback; S/N 67200F7A01344; Lime Gold, White/Black vinyl; Estimate $120,000 – $150,000; Older restoration, 2- condition; Hammered Sold at $110,000 plus commission of 8.00%; Final Price $118,800. With Reserve. 289/306hp, 4-speed, Traction-Lok, Koni shocks, 10-spoke Shelby wheels, center-mounted fog lights, power steering, power brakes. – The paint is holding up well with a few small blemishes. Brightwork looks very good. Panel fit is great. Engine bay is very clean with limited signs of use. Underneath looks spotless. Interior is very good, slight wear on the driver’s seat. An older restoration but still beautiful. – The GT350 got bulkier and more comfortable for 1967. It was a move that made the car more livable on the road, but enthusiasts prefer the racier early GT350s and as a result they are worth way more money. Any Shelby Mustang is a valuable car, though, and this sound older restoration brought a reasonable, slightly low price.
1970 Pontiac GTO Judge 2-Dr. Hardtop
Lot # F206 1970 Pontiac GTO Judge 2-Dr. Hardtop; S/N 242370P220145; Engine # 330140 XP; Orbit Orange/Black vinyl; Estimate $90,000 – $125,000; Recent restoration, 2+ condition; Hammered Sold at $82,500 plus commission of 8.00%; Final Price $89,100. With Reserve. 400/370hp Ram Air IV, automatic, hood tach, AM-FM, P/S, P/B, P/W, tilt column, sport steering wheel, 4.33 Safe-T-Track. – PHS documented. Restored like new with excellent paint, interior and very little chrome. Beautiful engine compartment done like new and not overdone. Represented as matching numbers engine. A beautiful car in an eye searing color. – Sold at Mecum’s Dallas auction last September for $77,040, this is a fine GTO Judge by any standards but even better in Orbit Orange, a color that begs to be arrested by every passing officer of the law. [Is that ‘car profiling’?] The increment in transaction value is hardly significant and it is a sound value even at this price.

Previous 1 2 3 4 5 6 7 8 9 10 11 Next

Show Comments (6)

Your email address will not be published.

  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.