Mecum Indianapolis 2015 – Auction Report

Mecum Indianapolis 2015 – Auction Report Page Seven

1970 Pontiac GTO Judge 2-Dr. Hardtop
Lot # F244 1970 Pontiac GTO Judge 2-Dr. Hardtop; S/N 2423701106165; Engine # 0062756 WS; Polar White/Blue vinyl; Estimate $60,000 – $80,000; Older restoration, 3+ condition; Hammered Sold at $47,500 plus commission of 8.00%; Final Price $51,300. With Reserve. 400/366hp Ram Air III, 4-speed, Safe-T-Track, P/S, P/B, hood tach, Hurst T-handle shifter, pushbutton radio, console, Super Sport wheels, G70-14 Polyglas tires. – Mediocre clearcoat paint with wet sanding oversights near door trim. Dusty old engine compartment and underbody. Steering wheel hub is mangy and the rim is crudely painted. Good interior and carpets. A usable driver quality restoration with some age. – A desirable Judge let down by the quality and longevity of its old restoration. The seller could have spent a few hours and a few dollars on prepping it and had a much more satisfactory result, especially after it was sold at Auctions America’s Ft. Lauderdale auction fourteen months ago for $69,300. The car card says it’s been driven ‘approximately 50 test miles since completion’ which indicates very hard miles or a very superficial restoration. The car is tired and deserves more attention, which the new owner can give it at this advantageous price.
1969 Chevrolet Camaro RS/SS 2-Dr. Hardtop
Lot # F245 1969 Chevrolet Camaro RS/SS 2-Dr. Hardtop; S/N 124379N584082; Hugger Orange, Black vinyl roof/Black houndstooth; Estimate $60,000 – $80,000; Recent restoration, 2+ condition; Hammered Sold at $45,000 plus commission of 8.00%; Final Price $48,600. With Reserve. 396/375hp, 4-speed, Hurst shifter, 3.73 Positraction, P/S, P/B, cowl induction, SS wheels, F70-14 Polyglas tires, rosewood grain steering wheel, console gauges, pushbutton radio. – Freshly restored with gorgeous clearcoat paint, excellent chrome, interior and vinyl roof. Better than new without going too far. Passenger’s air vent handle missing. – Sold here a year ago for $61,560 and a significant value at the price it brought today. It may not have been a $61K car in 2014, but it’s more than a $48K car in 2015.
1954 GMC 100 Pickup
Lot # F249 1954 GMC 100 Pickup; S/N 10124PZ1518; Green/Green; Estimate $50,000 – $75,000; Recent restoration, 1- condition; Hammered Sold at $40,000 plus commission of 8.00%; Final Price $43,200. With Reserve. 248/125hp six, 3-speed, deluxe chrome bumpers, wood box floor, side-mounted spare wheel, custom oak box rails. – Desirable 5 window cab GMC. First year for the wrap around window. Paint is beautiful and virtually flawless. Brightwork is excellent. Panel fit is great. Engine bay is just about spotless with just some small signs of use. Underneath is as clean as above. Interior looks new with the exception of a small crack in the steering wheel. An exceptional show quality restoration. – A rare truck that somehow survived to be restored to far better than new condition. The price, while expensive for a Fifties Jimmy, accurately reflects the outstanding quality of this one.
1950 Chevrolet 3100 Pickup
Lot # F250 1950 Chevrolet 3100 Pickup; S/N HBA1201356; Swift Red, Cream roof/Brown vinyl; Estimate $50,000 – $75,000; Recent restoration, 2+ condition; Hammered Sold at $45,000 plus commission of 8.00%; Final Price $48,600. With Reserve. Later 235 six, column-shift 3-speed, upgraded chrome grill and bumpers, highly varnished wood bed, dual mirrors, body color steel wheels with hub caps and trim rings, whitewalls, bench seat, 5- window cab. – Paint is very good with just a few flaws. Panel fit is very good. Brightwork is excellent. Engine bay is spotless. Underneath is just as clean as the rest of the truck. Interior looks new. A phenomenal-looking truck that has gotten the kind of quality restoration usually reserved for valuable cars. – The popularity of trucks among collectors is clear when they begin to get Bloomington Gold class restorations like this, and command realistic prices, also like this.
1965 Chevrolet Corvette Convertible
Lot # F251 1965 Chevrolet Corvette Convertible; S/N 194675S100283; Engine # F8I0HM; Tuxedo Black/Black vinyl; Estimate $90,000 – $115,000; Cosmetic restoration, 3+ condition; Hammered Sold at $70,000 plus commission of 8.00%; Final Price $75,600. With Reserve. 327/365hp, 4-speed, Positraction, side exhaust, two tops, air conditioning, telescopic steering column, centerlock alloy wheels, woodrim steering wheel, aftermarket cassette stereo, dash clock. – Represented as a numbers matching 327/365hp. Paint looks very good with very few blemishes. Brightwork is showing age. Engine bay is clean but not highly detailed. Interior has signs of use with significant wear on the driver’s seat. Undercarriage has some road rash. A very good driver or local show car. Repainted 10 years ago and given a “light cosmetic refreshing” earlier this year, this is a very well kept car that’s never been fully restored but looks very good even though it shows 96,161 miles on the odometer. – This is no show car, but it is a solid driver. Nevertheless, the Indy bidders were wary of a car that hasn’t been fully restored and says nothing about NCRS or Bloomington Gold on the car card. It went very reasonably here, and the buyer of the L76-powered convertible with a desirable hard top should be pleased.
1971 Ford Mustang Mach 1 Fastback
Lot # F251.1 1971 Ford Mustang Mach 1 Fastback; S/N 1F5J112121; Pewter, Matte Black hood/Black vinyl; Estimate $65,000 – $85,000; Visually maintained, largely original, 2- condition; Hammered Sold at $50,000 plus commission of 8.00%; Final Price $54,000. With Reserve. 429/375 hp Cobra Jet, 4-speed, Hurst T-handle shifter, no console, Ram Air hood, 3.91 Traction-Lok, P/S, P/B, Rally wheels, hubcaps, trim rings, Wide Oval tires, wing, chin spoiler, documented with original invoice, window sticker, buyer’s order and Marti Report. – Represented as an original car but appears to have been painted. Even at that it is sparingly used and carefully maintained. Very good paint, chrome and interior. Orderly if a little dusty underhood and under the car. – Reported sold at Auctions America in Ft. Lauderdale fourteen months ago for $66,000 and much more reasonably priced today. Considering the laundry list of options and features, not to mention the Ram Air 429, this is a lot of car for the money.
1966 Oldsmobile F-85 Cutlass 4-4-2 Club Coupe
Lot # F257 1966 Oldsmobile F-85 Cutlass 4-4-2 Club Coupe; S/N 334076M300790; Autumn Bronze/Beige vinyl; Estimate $75,000 – $90,000; Recent restoration, 2 condition; Hammered Sold at $41,000 plus commission of 8.00%; Final Price $44,280. No Reserve. 400/360hp, 4-speed, Tri-Power, 3.90 Limited Slip, body color wheels, hub caps, red line tires, bench seat, tachometer and added auxiliary gauges, radio delete, heater delete. – Excellent paint and body. The brightwork has been completely redone with only negligible scuffs from use. The engine compartment looks like new. The underbody has light grime from use. The interior is extremely clean and unused. A 2012 body-off restoration of a rare Tri-Power car with little use. – What use it has some from being hauled from auction to auction It was bid to $60,000 here a year ago, then $75,000 at Mecum Dallas last September and $62,000 at Kissimmee in January. It had used up its auction entry tickets and the new owner got a rare and unusual Olds for a bargain price.
1956 Chevrolet Corvette Convertible
Lot # F258 1956 Chevrolet Corvette Convertible; S/N E56S2201; Red, Beige coves/Red vinyl; Beige vinyl top; Estimate $90,000 – $120,000; Older restoration, 2- condition; Hammered Sold at $72,000 plus commission of 8.00%; Final Price $77,760. With Reserve. 265/240hp, 3-speed, high lift cam, dual quads, power top, heater, WonderBar radio, spinner wheel covers, whitewalls. – Represented as matching numbers engine. Restored like new two decades ago with very good cosmetics. The engine compartment isn’t to the same standards but is clean and orderly. Only 111 Corvettes came with the high lift cam, and how many of them were also equipped with the heavy, complicated power top must be nearly non-existent. – This isn’t the best ’56 Corvette around but it is surely one of the most unusual. It hit the Mecum trail in Dallas last September where it was reported bid to $80,000, then turned up in Austin where the bid was $70,000. The seller got the message here in Indy and took the money. The buyer got a pretty amazing Corvette even if it is showing the age of its restoration. Some attention, however, will reverse a lot of its age and yield a rare, satisfying Corvette. It’s a good buy at this price.
1970 Ford Mustang Boss 302 Fastback
Lot # F259 1970 Ford Mustang Boss 302 Fastback; S/N 0F2G141920; Calypso Coral, Black stripes/Black vinyl; Estimate $85,000 – $100,000; Recent restoration, 2- condition; Hammered Sold at $70,000 plus commission of 8.00%; Final Price $75,600. With Reserve. 302/290 hp, 4-speed, close ratio 4-speed, 3.91 Traction-Lok rear end, front disc brakes, power steering, power brakes, Hurst T-handle shifter, Magnum 500 wheels, Radial T/A tires. – Comes with original shipping invoice and Marti Report. Body-off restoration completed in 2013. Paint is very good with a few fish eyes and chips here and there. Panel fit is great. Brightwork looks excellent. Engine bay is spotless with no signs of use. Underneath looks just as good as the rest of the car. Interior looks great, some slight wear on the console. An excellent car overall let down by a handful of paint flaws. – The sale price fell quite a bit short of the presale estimate, but the unfinished details nagged on too many bidders’ confidence. The options and colors are good, so the new owner should be happy, especially if he or she owns a paint stop where the issues can be remedied cost effectively..

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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.