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Mecum Indianapolis 2015 – Auction Report

Rick Carey·

Mecum Indianapolis 2015 – Auction Report Page Eight

1969 Chevrolet Nova SS 2-Dr. Sedan
Lot # F259.1 1969 Chevrolet Nova SS 2-Dr. Sedan; S/N 114279W425077; Tuxedo Black/Black vinyl; Estimate $75,000 – $90,000; Older restoration, 3+ condition; Hammered Sold at $60,000 plus commission of 8.00%; Final Price $64,800. With Reserve. 396/375 hp L78, 4-speed, Hurst shifter, bench seat, hubcaps, F70-14 Polyglas tires, P/B, heater, pushbutton radio, column mounted Sun 270 degree tach, underdash gauges, documented with the original Protect-o-Plate, window sticker and pre-delivery checklist. – Repainted assembled with some masking oversights. Good interior, major chrome and aluminum trim. Underbody is done like new. Represented as matching numbers engine. Orderly engine compartment. Restored a while ago but still very appealing, aside from the paint issues and some age. – Sold at Kissimmee in January for $73,440. This is a hard way to make money but a good way for the new owner to experience a serious high performance car with Big Block power in a compact platform. If a big block in a mid-sized platform is a Muscle Car, this must be a Muscle Car squared.
1957 Chevrolet 3100 NAPCO Pickup
Lot # F260 1957 Chevrolet 3100 NAPCO Pickup; S/N 3A57W106400; Black/Black vinyl; Estimate $65,000 – $80,000; Recent restoration, 2+ condition; Hammered Sold at $62,000 plus commission of 8.00%; Final Price $66,960. With Reserve. Chrome bumpers and grille, hubcaps, trim rings, bench seat. – Represented as the original matching numbers drivetrain. Very good fresh paint, chrome and interior. Engine compartment, chassis and underbody are like new. Aside from a few details overlooked with the paint and scuffed door handles that should have been replaced or rechromed, this is a NAPCO that is far better than when it left the factory. – The buyers snapped it up, too, paying FJ40 money for it. Really? FJ40 money? For a NAPCO Chevy 3100? What is the world coming to? Most NAPCOs were driven off into the woods and mountains in search of oil or gold or new frontiers and then left there when they were used up. A matching numbers NAPCO is almost unheard of, even at this price.
1970 Chevrolet Chevelle SS 396 2-Dr. Hardtop
Lot # F261 1970 Chevrolet Chevelle SS 396 2-Dr. Hardtop; S/N 136370K107692; Fathom Blue, White stripes/Black vinyl; Estimate $80,000 – $120,000; Recent restoration, 2+ condition; Hammered Sold at $75,000 plus commission of 8.00%; Final Price $81,000. With Reserve. 396/375hp, 4-speed, buckets but no console, SS wheels, P/S, P/B, cowl induction, Polyglas tires, Positraction. – Represented as numbers matching. Freshly restored like new with excellent paint, chrome, interior and glass. Protect-o-Plate documented. Engine compartment and underbody are like new. An impressively restored and desirably equipped Chevelle. – Sold at Barrett-Jackson Scottsdale in January for $66,000, the price it brought here is much more representative of its rarity, restoration, performance and value. It is possible to buy a right car for modest money at B-J, as long as the excitement and glitz don’t induce bidding frenzy.
1963 Chevrolet Corvette Coupe
Lot # F263 1963 Chevrolet Corvette Coupe; S/N 30837S105337; Ermine White/Red vinyl; Estimate $110,000 – $140,000; Cosmetic restoration, 3 condition; Hammered Sold at $89,000 plus commission of 8.00%; Final Price $96,120. With Reserve. 327/340hp, 4-speed, spinner wheel covers, narrow whitewalls, WonderBar radio, Positraction. – Represented as numbers matching engine. Cosmetically restored with a sound repaint and good new interior. Old window tracks and dirty window pockets. Underbody repainted over old undercoat. Good chrome. Painted assembled and erratically masked and wet sanded. An auction car. – This is a nasty car with no good surprises. Built to a price and just good enough to look good on the auction block, it is superficially done. The bidders, however, weren’t fooled, and neither was the consignor who recognized the car’s many shortcomings and wisely took the money. Even this price is all the money for the workmanship.
1969 Ford Mustang Mach 1 Fastback
Lot # F264 1969 Ford Mustang Mach 1 Fastback; S/N 9T02R151100; Champagne Gold, Matte Black hood/Black vinyl; Estimate $80,000 – $100,000; Visually maintained, largely original, 3+ condition; Hammered Sold at $63,000 plus commission of 8.00%; Final Price $68,040. With Reserve. 428/335 hp, 4-speed, 3.90 Traction-Lok, Drag-Pack, chrome wheels with hubcaps and trim rings, Radial T/A tires, smog pump, no P/S or P/B, pushbutton radio, shaker hood, documented with the original title and Marti Report. – Good recent clearcoat repaint, otherwise shows 56,387 believable miles in the engine compartment and under the Mustang. – Sold here four years ago for $54,060 and bought for a reasonable price today. Its good overall condition without ever needing a comprehensive restoration is reassuring and its equipment is highly desirable. The price equitably balanced intrinsic appeal with condition.
1969 Chevrolet Camaro Z/28 RS 2-Dr. Hardtop
Lot # F267 1969 Chevrolet Camaro Z/28 RS 2-Dr. Hardtop; S/N 124379N587892; Hugger Orange, Black stripes and vinyl roof/Black vinyl; Estimate $120,000 – $140,000; Recent restoration, 2+ condition; Hammered Sold at $105,000 plus commission of 8.00%; Final Price $113,400. With Reserve. 302/290 hp, crossram dual quads, 4-speed, four wheel disc brakes, Positraction, P/S, Rally wheels with hubcaps and trim rings, Sport Car 200 tires, AM-FM, Protect-o-Plate documented. – Excellent clearcoat repaint, very good chrome, interior and vinyl roof. Underbody is better than new. As good as it gets in a ’69 Camaro except that the four-wheel discs aren’t identified as being the original-type JL8 option. – This is a top price, but also a top Camaro with a fresh better than new restoration and a list of options that ticks just about every box. The new owner got every bit of value out of the price paid and both buyer and seller should be satisfied with this result.
1974 Plymouth Barracuda 2-Dr. Hardtop
Lot # F295 1974 Plymouth Barracuda 2-Dr. Hardtop; S/N BS23L4B226294; Red, White side stripes and vinyl roof/White vinyl; Cosmetic restoration, 3 condition; Hammered Sold at $17,000 plus commission of 8.00%; Final Price $18,360. No Reserve. 360/245hp, automatic, power brakes, Radial T/A tires, Rallye dash, bucket seats, aftermarket CD player, aftermarket radiator. – Represented as matching numbers. Final production year for this model. Paint shines well, but there are quite a few blemishes throughout. Panels fit very well. Vinyl top is slightly discolored. Engine has been detail painted but the rest of the engine bay shows age. Underneath is pretty rough. Interior is clean and not showing much wear. This would be a solid driver, but some notable flaws and not much performance make it less than ideal. – Even if it is less than ideal, it deserved a few thousand dollars more, but was a no reserve lot and went to a thrifty and opportunistic new owner.
1974 Plymouth Road Runner 2-Dr. Hardtop
Lot # F300 1974 Plymouth Road Runner 2-Dr. Hardtop; S/N RM21U4G144871; Silver, Black, Red/Black vinyl; Visually maintained, largely original, 4+ condition; Hammered Sold at $17,000 plus commission of 8.00%; Final Price $18,360. With Reserve. 440/275hp, automatic, power steering, power brakes, air conditioning, bucket seats, console with shifter, AM/FM radio. – Represented as the original engine. A good recent repaint with a few chips on the driver’s door edge. The passenger’s side rocker panel has a silver dollar sized spot that has rusted through. The door handles are pitted, the wheel well trim fits poorly and the rear bumper filler panel is discolored and warped. The engine and underbody are crusty, old and need extensive attention. The interior is worn, especially the driver’s seat. An auction prepped car that will need immediate attention to the rust issues. – An only marginally desirable project car for which a generous price was paid.

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Rick Carey
One of the first people to report on the collector car market, Rick Carey’s market knowledge is unparalleled and he has one of the largest databases of auction transactions. Carey has a strong background in racing, particularly road racing in International GT endurance competition and an interest and focus upon the collector car market including historical trends and economic analysis. For more from Rick, visit RickCarey.com.
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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.

    Reply

  3. 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.

    Reply

  4. 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.

    Reply