Mecum Indianapolis 2015 – Auction Report

Mecum Indianapolis 2015 – Auction Report Page Nine

1967 Ford Mustang GT 2-Dr. Hardtop
Lot # F309 1967 Ford Mustang GT 2-Dr. Hardtop; S/N 7R01S107143; Sauterne, Black vinyl roof/Green vinyl; Cosmetic restoration, 2- condition; Hammered Sold at $35,500 plus commission of 8.00%; Final Price $38,340. With Reserve. 390/320hp, automatic, dual exhaust, power steering, power brakes, GT wheels, Radial T/A tires, factory air conditioning, Marti report, window sticker copy. – Paint is good with a few chips and blemishes. Brightwork looks great. Panel fit is slightly off. Engine bay is very clean. Undercarriage looks original and shows lots of use. Interior is very good with very little wear. An older cosmetic restoration that still has lots of eyeball as well as the desirable S-code 390/320hp performance engine. – After a long, quiet stretch in the market, first-gen Mustangs have come on strong. Some call it the “anniversary effect,” others note that these models have springboarded past Baby Boomer nostalgia thanks to the successful retro-revival design of the 2005-14 Mustang. This car was sold at the Fall Branson auction last October for $37,530 and offered a few weeks ago at Mecum’s KC sale with a reported high bid of $40,000. Everyone seems to be in the same ballpark for it.
1977 Pontiac Firebird Trans Am Coupe
Lot # S1.7 1977 Pontiac Firebird Trans Am Coupe; S/N 2W87Z7N146687; White, Red, Gray/Black vinyl; Visually maintained, largely original, 3 condition; Hammered Sold at $20,000 plus commission of 8.00%; Final Price $21,600. No Reserve. 400/180hp, 4-speed, 8-inch snowflake wheels, shaker hood, power steering, power brakes. – Paint has fish eyes, chips and touch ups. Panel gaps are good. Brightwork is dull. Engine bay is clean but old. Underbody has been recently undercoated. Interior is decent with light wear to the driver’s seat, console, and steering wheel. This is a good driver quality car. – This is big money for a driver quality ’77 Trans Am. The market for these has grown, but the winning bidder here overshot it by quite a bit. Rerun of T166, also sold but at a more realistic $18,000 hammer.
1966 Shelby Mustang GT350H Fastback
Lot # S35 1966 Shelby Mustang GT350H Fastback; S/N SFM6S1177; Sapphire Blue, Gold stripes/Black vinyl; Older restoration, 3+ condition; Hammered Sold at $112,000 plus commission of 8.00%; Final Price $120,960. No Reserve. 289/306hp, automatic, Magnum 500 wheels with Hertz center caps, Goodyear Blue Streak tires, AM radio, dash mounted tachometer, glove box signed by Carroll Shelby. – Represented as numbers matching engine. Old faded paint with chips along the rocker panels, new stripes, the trunk lid fit needs adjustment. The rear window is clouding around the edges. The old engine compartment has been detailed as well as the underbody, but are still old. The seats have been redone while the rest of the interior appears original. A clean, driver quality Shelby Rent-A-Racer and one of just 50 in this color combination. – Bid to $140,000 in Kissimmee last year and then bid to $110,000 in Houston a few months later, then sold at Kissimmee this year for $129,600. This is not a business plan that seems to make sense, but rarely does it pay off and the buyer took advantage of the seller’s No Reserve consignment to acquire a pretty, but tired, GT350H at a reasonable price.
1956 GMC Suburban Carrier Pickup
Lot # S55 1956 GMC Suburban Carrier Pickup; S/N 101CX2482; Red, White roof/Red, White; Truck restoration, 3 condition; Not sold at Hammer bid of $33,000 plus commission of; Final Price $33,000. With Reserve. 270/130hp six, 3-speed, radio, hubcaps, trim rings, whitewalls, radio, windshield visor, dual outside mirrors. – Quick recent repaint, fair chrome, poor hood badge. Frame and suspension painted assembled. The back of the cab in front of the bed is dull, covered with body shop slag and neglected, setting the tone for the rest of the workmanship. A superficial truck restoration of a rarely seen model. – GMC’s counterpart of the much more common and better known Chevy Cameo Carrier powered by GMC’s bigger but less powerful six-cylinder engine. The rarity of the Carrier deserved a thorough restoration but instead got turned out quickly to make the auction. The bidders were cognizant of its shortcomings, to judge by this bid. It is a fair and responsible attempt to balance rarity with condition that the seller would have been wise to accept.
1965 Pontiac Catalina 2+2 Convertible
Lot # S80 1965 Pontiac Catalina 2+2 Convertible; S/N 252675C140926; Starlight Black/Red vinyl; White top; Older restoration, 3 condition; Hammered Sold at $61,000 plus commission of 8.00%; Final Price $65,880. With Reserve. 421/350hp Tri-Power, automatic, power steering, power brakes, air conditioning, 8-lug wheels, narrow whitewalls, bucket seats, center console with floor shift, AM radio, tachometer, full gauge pack, PHS documentation. – Paint is very good and the top is new. The bumpers are like new, but the window trim is oxidizing. The engine compartment shows some use after restoration with a leaky center carburetor, underneath has a badly leaking transmission. The interior has been completely redone. This is an old restoration that has been used and needs some immediate mechanical attention. – This is not the best 421 Tri-Power 2+2 convertible in the world, but there are so few of them around that any 421 Tri-Power 2+2 convertible has star power. That attraction figured in the price it brought, a generous one for its condition but understandable in light of its performance and eye-appeal.
1963 Ford Galaxie 500 Lightweight Fastback
Lot # S89 1963 Ford Galaxie 500 Lightweight Fastback; S/N 3N66R145096; White/Red vinyl; Unrestored original, 3 condition; Hammered Sold at $65,000 plus commission of 8.00%; Final Price $70,200. With Reserve. 427/425hp, dual quads, 4-speed, 4.11 axle, race exhaust, fiberglass front end and trunk lid, hi-beam delete, aluminum bumpers, mag wheels in front, steel wheels in the rear with slicks, lightweight Bostrom bucket seats, radio delete, heater delete. Romy Hammes sponsored, racing history not documented. – Cracked and faded original paint. Brightwork is pitted. Tires appear original and are severely checked. Clean, aged engine bay. The hood hinges were a bit sticky. Undercarriage is also original and aged. Interior is lightly worn. A very cool, original lightweight racer. – No known racing history, too good to restore, too bad to drive, let alone experience its tire-melting performance, but even at that it’s an extremely modest price for a highly desirable car, a price that represents if anything a discount for originality, the opposite of how it usually works.
1970 Ford Mustang Mach 1 Twister Special 2-Dr. Hardtop
Lot # S101 1970 Ford Mustang Mach 1 Twister Special 2-Dr. Hardtop; S/N 0F5M118871; Grabber Orange, Black stripes/Black vinyl; Estimate $110,000 – $140,000; Older restoration, 2- condition; Hammered Sold at $80,000 plus commission of 8.00%; Final Price $86,400. With Reserve. 351/300hp, automatic, Magnum 500 wheels, Radial T/A tires, 3.50:1 Traction-Lok, front and rear spoilers, rear window louvers, woodgrain interior trim, radio. – Twister Special, 1 of 96 Twister Specials made in 1970 and one of 52 known to exist. Comes with Deluxe and Elite Marti reports and original invoice. Paint looks good, but does have a few flaws. Panel gaps are very good. Brightwork is excellent. Engine bay is very clean and not over-restored. Underneath is good, but showing some age. Interior looks good, center console compartment is worn and does not close. A good car, but some small things were overlooked in the full restoration. – Sold at Mecum’s Kansas City auction in April 2013 for $82,680, a no-sale at KC last December with a high bid of $65,000, the price here is appropriate for a Twister Special with an ageing restoration and a mundane drivetrain.
1972 Ferrari 365 GTB/4 Daytona Spider Conversion, Body by Carrozzeria Auto Sport
Lot # S113 1972 Ferrari 365 GTB/4 Daytona Spider Conversion, Body by Carrozzeria Auto Sport; S/N 15689; Red/Tan leather, Black stripes; Black cloth top; Estimate $950,000 – $1,200,000; Rebodied or re-created, 2- condition; Not sold at Hammer bid of $800,000 plus commission of; Final Price $800,000. With Reserve. Alloy body, 8/9 inch chrome spoke Borrani wire wheels, Michelin X blackwalls, P/W, P/S from a C/4, A/C, Pioneer CD stereo. – Quality workmanship and very good paint, chrome and interior showing little age or use. Rebodied for Joe Nastasi after a 1979 accident said to be ‘minor’. Known history from its 1977 import to the U.S. – Crossed the block at Mecum’s Monterey auction in 2013 with a reported high bid of $700,000. The consignor here seems to think the alloy Spider rebody is worth more than a comparable Daytona. That may be correct, but it didn’t bear fruit in Indy.

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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.